Grupo Aeroportuario Del Pacifico Announces Approval Of Maximum Tariffs And Capital Development Program For 2026-2030 For Montego Bay Airport In Jamaica

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (NYSE: PAC) has received approval for its maximum tariffs and Capital Development Program for Montego Bay Airport in Jamaica covering 2026-2030. The maximum passenger charges will increase gradually from $17.38 in 2026 to $19.07 in 2030. The approved investment program totals $118.1 million, with the highest investments planned for 2026 ($38.4M) and 2027 ($39.4M), followed by decreasing investments through 2030. GAP operates 12 airports across Mexico's Pacific region and two airports in Jamaica, including the Sangster International Airport in Montego Bay and Norman Manley International Airport in Kingston.

Positive

• Approved gradual increase in maximum passenger charges from $17.38 to $19.07 over five years
• Substantial total investment commitment of $118.1 million for airport development
• Front-loaded investment strategy with higher allocations in initial years indicates focus on immediate improvements

Negative

• Declining investment amounts from $38.4M in 2026 to $10.3M in 2030 may indicate limited long-term expansion plans
• Annual increases in passenger charges could potentially impact passenger traffic growth

Insights

Infrastructure Investment Analyst

GAP secures 5-year regulatory approval for Montego Bay Airport with predictable tariff increases and $118.1M in front-loaded investments.

Grupo Aeroportuario del Pacífico's regulatory approval for Montego Bay Airport provides investors with valuable five-year visibility on both revenue streams and capital commitments through 2030. The approved passenger charges show consistent annual increases from $17.38 in 2026 to $19.07 in 2030, representing a compound annual growth rate of approximately 2.4%.

The $118.1 million Capital Development Program follows a notably front-loaded investment schedule, with 66% of total expenditures ($77.8 million) concentrated in the first two years. This structure suggests significant infrastructure improvements initially, followed by lower maintenance investments in subsequent years. The substantial early-phase investments indicate confidence in the Jamaican market and should enhance the airport's competitive position and service capabilities.

From an infrastructure investment perspective, the regulatory certainty provided by this approval is particularly valuable in the airport sector, where long-term planning visibility directly impacts operational efficiency and capital allocation decisions. The predictable tariff growth path strikes a balanced approach - providing GAP with revenue increases that modestly outpace typical inflation rates while remaining measured enough to support passenger volume growth and airline relationships.

While representing just one airport within GAP's portfolio of 14 airports across Mexico and Jamaica, this approval demonstrates the company's effective engagement with regulatory authorities and commitment to international market development beyond their core Mexican operations.

GUADALAJARA, Mexico, June 06, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces the conclusion of the ordinary review process for the maximum tariffs per passenger and committed investments included in the Capital Development Program of Montego Bay for the 2026–2030 period.

The maximum passenger charges are expressed in U.S. dollars and will apply to each year as specified in the following table:

Airport	2026	2027	2028	2029	2030
Montego Bay	17.38	17.79	18.22	18.65	19.07

The investments approved by the Authority and committed under the Capital Development Program are expressed in millions of U.S. dollars and must be deployed according to the following schedule:

Airport	2026	2027	2028	2029	2030	Total
Montego Bay	38.4	39.4	18.4	11.6	10.3	118.1

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at denuncia@lineadedenunciagap.com. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Alejandra Soto Investor Relations and Social Responsibility Officer	asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations	gmurillo@aeropuertosgap.com.mx
	+52 33 3880 1100 ext. 20294

FAQ

What are the new maximum tariffs approved for PAC's Montego Bay Airport from 2026 to 2030?

The maximum passenger charges will increase annually from $17.38 in 2026 to $17.79 in 2027, $18.22 in 2028, $18.65 in 2029, and $19.07 in 2030.

How much will PAC invest in Montego Bay Airport's Capital Development Program?

PAC will invest a total of $118.1 million over five years, with $38.4M in 2026, $39.4M in 2027, $18.4M in 2028, $11.6M in 2029, and $10.3M in 2030.

How many airports does Grupo Aeroportuario del Pacífico (PAC) operate?

GAP operates a total of 14 airports - 12 throughout Mexico's Pacific region and 2 in Jamaica (Sangster International Airport in Montego Bay and Norman Manley International Airport in Kingston).

When did PAC acquire the Montego Bay Airport operations?

In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, operating Sangster International Airport in Montego Bay, Jamaica.