Declining Operating Cash FlowA sharp drop in operating cash flow and a negative free cash flow driven by heavy capex weaken internal funding of investments and dividends. Persistent OCF erosion raises reliance on external financing or asset sales, constraining strategic flexibility and increasing financial risk over the medium term.
Rising LiabilitiesGrowing total liabilities, even with moderate D/E, increase fixed obligations and sensitivity to revenue slowdowns. If passenger or airport traffic weakens, higher liabilities raise refinancing and interest risks, potentially forcing tighter capital spending and affecting long-term infrastructure projects.
Earnings Volatility / EPS DeclineA steep negative EPS growth rate and volatile EBIT margins point to earnings instability, complicating forecasting and long-term planning. Earnings volatility can undermine investor confidence, restrict reinvestment capacity, and make sustaining dividends or funding large capex more challenging.