Grupo Aeroportuario del Pacifico Reports a Passenger Traffic Decrease in January 2026 of 2.2% Compared to 2025
Rhea-AI Summary
Grupo Aeroportuario del Pacífico (NYSE: PAC) reported preliminary January 2026 terminal passenger traffic of 5,521.7 thousand, a 2.2% decrease versus January 2025. Mexican domestic traffic rose 2.3% while international traffic fell 6.9%. Seats increased 3.0% and load factor declined from 83.9% to 79.7%.
Key airport moves: Guadalajara +3.6% total, Puerto Vallarta +2.6% total, Montego Bay -37.7% (Hurricane Melissa disruptions), Tijuana total -4.2% with international down 10.9% and CBX users down 10.5%.
Positive
- Seats available +3.0% in January 2026 versus January 2025
- Morelia total passengers +19.0% year-over-year in January 2026
- Morelia international passengers +25.6% year-over-year in January 2026
- La Paz international passengers +57.0% year-over-year in January 2026
Negative
- Montego Bay total passengers -37.7% in January 2026 due to Hurricane Melissa
- Load factor decline of 4.2 percentage points (83.9% to 79.7%), a ~420 bps drop
- Tijuana international passengers -10.9% in January 2026
- CBX users at Tijuana -10.5% in January 2026
News Market Reaction
On the day this news was published, PAC gained 4.08%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
PAC fell 3.93% while key peers were mixed: ASR +1.22%, CAAP -0.56%, JOBY -6.06%, RTO +1.67%, BAH -0.34%. Moves do not show a unified sector direction, pointing to company-specific reaction to the January traffic data.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 20 | Debt refinancing | Positive | +2.6% | Refinancing of USD $95.5m loan on a new 12‑month SOFR-linked facility. |
| Jan 06 | Traffic update | Positive | +1.0% | December and full-year 2025 traffic grew, despite Montego Bay weakness. |
| Dec 11 | Shareholder approval | Positive | +6.6% | Shareholders approved CBX combination and related share issuance and consolidation. |
| Dec 04 | Traffic update | Negative | -0.6% | November 2025 traffic fell 2.0%, with sharp Montego Bay decline after hurricane. |
| Nov 07 | Traffic update | Negative | -0.8% | October 2025 total passengers slipped 0.8% YoY; Jamaica impacted by hurricane. |
Recent traffic updates and corporate actions have mostly seen price moves aligned with the news tone, with repeated patterns of softer load factors and Jamaica-related traffic pressure.
Over the last few months, PAC has combined operational updates with balance-sheet moves. Traffic releases for October and November 2025 showed small year-on-year passenger declines but positive year-to-date growth, with Hurricane Melissa weighing on Jamaican airports and load factors. December 2025 traffic still grew slightly, while a USD $95.5 million loan refinancing on Jan 20, 2026 extended liquidity. Shareholders also approved the CBX-related business combination, including issuing ~90 million new shares, increasing outstanding shares to ~595 million.
Market Pulse Summary
This announcement details January 2026 traffic, highlighting a 2.2% decline in total passengers, with Mexican airports up 1.2% but international traffic down 6.9%. Jamaica, especially Montego Bay at -37.7%, remained pressured by Hurricane Melissa. Capacity increased 3.0% while load factor slipped from 83.9% to 79.7%. In light of recent updates showing softer load factors and weather-related volatility, investors may watch upcoming traffic releases for signs of recovery in international routes and utilization.
Key Terms
load factors technical
AI-generated analysis. Not financial advice.
GUADALAJARA, Mexico, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces preliminary terminal passenger traffic figures for January 2026, compared with January 2025.
During January 2026, the 12 Mexican airports operated by GAP recorded a
With respect to GAP’s airports in Jamaica, Montego Bay and Kingston recorded decreases of
Domestic Terminal Passengers (in thousands):
| Airport | Jan-25 | Jan-26 | % Change |
| Guadalajara | 1,006.2 | 1,066.3 | |
| Tijuana* | 702.1 | 698.4 | ( |
| Los Cabos | 232.2 | 219.1 | ( |
| Puerto Vallarta | 229.5 | 242.5 | |
| Montego Bay | 0.0 | 0.0 | N/A |
| Guanajuato | 176.8 | 180.9 | |
| Hermosillo | 169.3 | 160.3 | ( |
| Kingston | 0.0 | 0.5 | |
| Morelia | 65.2 | 73.1 | |
| La Paz | 96.6 | 105.7 | |
| Mexicali | 100.2 | 99.1 | ( |
| Aguascalientes | 51.9 | 49.2 | ( |
| Los Mochis | 57.0 | 58.7 | |
| Manzanillo | 12.0 | 11.3 | ( |
| Total | 2,899.1 | 2,965.3 | 2.3% |
International Terminal Passengers (in thousands):
| Airport | Jan-25 | Jan-26 | % Change |
| Guadalajara | 600.8 | 598.1 | ( |
| Tijuana* | 380.0 | 338.7 | ( |
| Los Cabos | 426.7 | 437.9 | |
| Puerto Vallarta | 483.8 | 489.2 | |
| Montego Bay | 456.2 | 284.2 | ( |
| Guanajuato | 107.4 | 109.6 | |
| Hermosillo | 8.5 | 8.7 | |
| Kingston | 167.0 | 155.0 | ( |
| Morelia | 67.8 | 85.2 | |
| La Paz | 2.7 | 4.3 | |
| Mexicali | 0.5 | 0.6 | |
| Aguascalientes | 29.1 | 30.3 | |
| Los Mochis | 0.8 | 0.7 | ( |
| Manzanillo | 15.6 | 13.9 | ( |
| Total | 2,747.0 | 2,556.4 | (6.9%) |
Total Terminal Passengers (in thousands):
| Airport | Jan-25 | Jan-26 | % Change |
| Guadalajara | 1,607.1 | 1,664.3 | |
| Tijuana* | 1,082.1 | 1,037.1 | ( |
| Los Cabos | 658.9 | 657.0 | ( |
| Puerto Vallarta | 713.3 | 731.7 | |
| Montego Bay | 456.2 | 284.2 | ( |
| Guanajuato | 284.3 | 290.5 | |
| Hermosillo | 177.8 | 169.0 | ( |
| Kingston | 167.0 | 155.5 | ( |
| Morelia | 133.1 | 158.4 | |
| La Paz | 99.4 | 110.0 | |
| Mexicali | 100.7 | 99.7 | ( |
| Aguascalientes | 81.0 | 79.5 | ( |
| Los Mochis | 57.8 | 59.4 | |
| Manzanillo | 27.6 | 25.2 | ( |
| Total | 5,646.1 | 5,521.7 | (2.2%) |
*Passengers in Tijuana who use CBX in both directions are classified as international.
CBX users (in thousands):
| Airport | Jan-25 | Jan-26 | % Change |
| Tijuana | 373.2 | 334.1 | ( |
Highlights for the month:
- Seats and load factors
The seats available during January 2026 increased by3.0% , compared to January 2025. The load factors for the month went from83.9% in January 2025 to79.7% in January 2026.
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
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 were GAP (PAC) total passengers in January 2026 compared to January 2025?
Why did Montego Bay (PAC) passenger traffic fall sharply in January 2026?
How did GAP's load factor and seat capacity change in January 2026?
What happened to Tijuana (PAC) international and CBX passenger volumes in January 2026?
Which GAP airports showed notable growth in January 2026 and by how much?
