The Grupo Aeroportuario de la Ciudad de México (GACM), which is fully owned by the Mexican Secretariat of Communications and Transportation (SCT), was to build and operate the new airport. The total cost for construction and initial operation of NAIM was estimated at up to US$13.3 billion, of which approximately 60% was to be contributed by the Mexican government through public funds, and approximately 40% was expected to be funded through a combination of bank loans and the offering of debt securities. It was therefore planned that all operations and traffic from Benito Juárez would be transferred to NAIM upon the airport reaching operational status. The site was only 5 kilometres (3 mi) away from the existing Benito Juárez Airport, making the simultaneous operation of the airports impossible. Texcoco Airport was to be constructed on a 44-square-kilometre (17 sq mi) site in the Zona Federal del Lago de Texcoco, in part of the dry bed of Lake Texcoco.
In 2020, the government of Mexico announced that they would convert the 12,000-hectare (46 sq mi) space where the airport was being built into the Lake Texcoco Ecological Park, which will be a public space and an area of ecological restoration. Ĭonstruction continued for several weeks, but was suspended on Decemafter López Obrador took office. In October 2018, after construction had already begun, a non-binding referendum was organized by then President-elect Andrés Manuel López Obrador, in which 69 percent of the 1.067 million voters rejected the planned airport, choosing instead to build a new airport on the grounds of Santa Lucía Air Force Base. It was billed as Mexico's largest public infrastructure work in a century, and was set to replace Mexico City's current Benito Juárez International Airport.
Texcoco Airport was first announced by President Enrique Peña Nieto in his State of the Union Address on September 2, 2014. Felipe Ángeles International Airport opened in March 2022. The project was announced in September 2014 but was canceled in late 2018 after a referendum was held stating that the new airport should be built at a different location. Mexico City Texcoco Airport was a planned airport in Mexico City that was meant to become Mexico's New International Airport (Spanish: Nuevo Aeropuerto Internacional de México- NAICM or NAIM).
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