Grupo Aeroportuario del Pacifico Reports a Passenger Traffic Decrease in February 2026 of 5.5% Compared to 2025

Grupo Aeroportuario del Pacífico (NYSE: PAC) reported a 5.5% decline in total terminal passengers in February 2026 versus February 2025, with total traffic of 4,608.2k passengers.

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (NYSE: PAC) reported a 5.5% decline in total terminal passengers in February 2026 versus February 2025, with total traffic of 4,608.2k passengers. International traffic fell 6.6% and domestic traffic fell 4.5%.

Key drivers included a 31.4% drop at Montego Bay due to Hurricane Melissa, a 19.1% decline in Mexicali, and multiple flight cancellations in Jalisco on February 22–23, 2026.

Positive

• Morelia total passengers +13.4% in Feb 2026
• Kingston domestic passengers +943.1% Jan–Feb (small base increase)
• La Paz international passengers +37.3% in Feb 2026

Negative

• Total terminal passengers -5.5% in Feb 2026 versus Feb 2025
• Montego Bay total passengers -31.4% in Feb 2026 (Hurricane Melissa)
• Mexicali total passengers -19.1% in Feb 2026
• Tijuana total passengers -7.4% in Feb 2026 and Jan–Feb total -6.0%

Argus Mar 9 session

-0.43% close to close Open Argus

Details

News Market Reaction – PAC

On Mar 9, the first trading day after this news, PAC closed 0.43% below the previous close.

Data tracked by StockTitan Argus for the Mar 9 session.

Key Figures

Feb 2026 passengers: 4,608.2k Feb YoY change: 5.5% Jan–Feb 2026 passengers: 10,130.2k +5 more

Feb 2026 passengers

4,608.2k

Total terminal passengers, February 2026

Feb YoY change

5.5%

Decrease in total terminal passengers vs February 2025

Jan–Feb 2026 passengers

10,130.2k

Total terminal passengers for Jan–Feb 2026

Jan–Feb YoY change

3.7%

Decrease in total terminal passengers vs Jan–Feb 2025

Seats change

3.4%

Decrease in seats available in February 2026 vs February 2025

Load factor Feb 2025

81.2%

Load factor in February 2025

Load factor Feb 2026

79.4%

Load factor in February 2026

Montego Bay drop

31.4%

February 2026 total passenger decrease at Montego Bay (Hurricane Melissa impact)

Historical Context

5 past events · Latest: Feb 23

5 events

1. Feb 23

   4Q25 earnings

   24h Move

   -5.3%

   Revenue and EBITDA grew but comprehensive income fell sharply 34.3%.

2. Feb 05

   Traffic update

   24h Move

   +4.1%

   January 2026 total passengers down 2.2% with weaker international traffic.

3. Jan 20

   Debt refinancing

   24h Move

   +2.6%

   Refinanced USD $95.5m loan on 12‑month term at 1‑month SOFR +50 bps.

4. Jan 06

   Traffic update

   24h Move

   +1.0%

   December 2025 traffic up 0.1% and full‑year passengers up 2.5%.

5. Dec 11

   CBX combination

   24h Move

   +6.6%

   Shareholders approved CBX business combination with ~96% of votes cast in favor.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

terminal passenger traffic, load factors, forward-looking statements, whistleblower

4 terms

terminal passenger traffic technical

"announces preliminary terminal passenger traffic figures for February 2026"

Terminal passenger traffic is the number of people who pass through an airport terminal during a set period, including those arriving, departing, and connecting. Investors watch it like foot traffic in a shopping center: higher passenger counts typically increase airlines’ ticket sales, airport fees and retail income, while changes in the trend signal shifts in travel demand, capacity pressure, or recovery from disruptions.

load factors technical

"The seats available during February 2026 decreased by 3.4%... The load factors for the month went from 81.2%"

Load factors measure how much of a company’s available capacity is actually being used, expressed as a percentage. Think of it like the share of seats filled on a bus or oven space in a bakery: higher load factor means more of the product or service is being sold relative to what could be offered. For investors, it signals operational efficiency and revenue potential—high load factors usually boost profit margins and lower per-unit costs, while low ones can warn of wasted capacity or weak demand.

forward-looking statements regulatory

"This press release may contain forward-looking statements. These statements are statements that are not historical facts"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

whistleblower regulatory

"GAP has implemented a “whistleblower” program, which allows complainants to anonymously"

A whistleblower is an employee, contractor, or insider who alerts regulators, investors, or the public about illegal, unethical, or dangerous practices within an organization — like someone sounding an alarm in a crowded room. Their disclosures matter to investors because they can reveal hidden risks, trigger investigations, fines, or legal claims, and rapidly change a company’s reputation and stock value. Whistleblowers may receive legal protections and, in some cases, financial rewards.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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GUADALAJARA, Mexico, March 06, 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 February 2026, compared with February 2025.

During March 2026, the 12 Mexican airports operated by GAP recorded a 3.2% decrease in total passenger traffic compared to February 2025. Tijuana, Puerto Vallarta, and Guadalajara reported a decrease of 7.4%, 5.3%, and 1.6%, respectively. In contrast, Los Cabos airport reported an increase of 0.8%. With respect to GAP’s airports in Jamaica, Montego Bay and Kingston recorded decreases of 31.4% and 2.1%, respectively, as a result of disruptions caused by Hurricane Melissa.

Domestic Terminal Passengers (in thousands):

Airport	Feb-25	Feb-26	% Change	Jan - Feb 25	Jan - Feb 26	% Change
Guadalajara	926.2	906.2	(2.2%)	1,932.4	1,972.5	2.1%
Tijuana*	631.4	584.7	(7.4%)	1,333.4	1,283.1	(3.8%)
Puerto Vallarta	192.6	186.5	(3.2%)	422.1	429.0	1.6%
Los Cabos	197.8	185.7	(6.2%)	430.1	404.8	(5.9%)
Montego Bay	0.0	0.0	N/A	0.0	0.0	N/A
Guanajuato	158.4	151.3	(4.5%)	335.2	332.2	(0.9%)
Hermosillo	150.6	144.4	(4.1%)	319.9	304.8	(4.7%)
Morelia	57.3	59.1	3.1%	122.5	132.2	7.9%
Kingston	0.0	0.2	351.4%	0.1	0.7	943.1%
La Paz	85.4	89.0	4.2%	182.1	194.7	7.0%
Mexicali	88.8	71.8	(19.1%)	189.0	170.9	(9.6%)
Aguascalientes	46.2	41.8	(9.6%)	98.2	91.0	(7.3%)
Los Mochis	51.6	48.3	(6.3%)	108.6	107.0	(1.4%)
Manzanillo	10.9	10.4	(4.7%)	22.8	21.7	(5.0%)
Total	2,597.2	2,479.4	(4.5%)	5,496.3	5,444.6	(0.9%)

International Terminal Passengers (in thousands):

Airport	Feb-25	Feb-26	% Change	Jan - Feb 25	Jan - Feb 26	% Change
Guadalajara	430.1	428.8	(0.3%)	1,030.9	1,026.9	(0.4%)
Tijuana*	290.1	268.9	(7.3%)	670.1	607.6	(9.3%)
Puerto Vallarta	457.3	428.9	(6.2%)	941.2	918.1	(2.5%)
Los Cabos	410.5	427.8	4.2%	837.2	865.7	3.4%
Montego Bay	400.1	274.5	(31.4%)	856.3	559.0	(34.7%)
Guanajuato	72.4	71.7	(1.1%)	179.9	181.2	0.8%
Hermosillo	5.9	6.4	8.5%	14.4	15.1	4.8%
Morelia	51.3	64.0	24.8%	119.1	149.3	25.3%
Kingston	121.9	119.2	(2.2%)	288.9	274.2	(5.1%)
La Paz	2.8	3.8	37.3%	5.5	8.1	47.1%
Mexicali	0.7	0.6	(13.7%)	1.2	1.2	2.3%
Aguascalientes	21.2	22.9	8.0%	50.3	53.1	5.6%
Los Mochis	0.5	0.4	(12.2%)	1.3	1.2	(9.2%)
Manzanillo	13.5	11.0	(18.2%)	29.1	24.9	(14.4%)
Total	2,278.2	2,128.9	(6.6%)	5,025.2	4,685.5	(6.8%)

Total Terminal Passengers (in thousands):

Airport	Feb-25	Feb-26	% Change	Jan - Feb 25	Jan - Feb 26	% Change
Guadalajara	1,356.2	1,335.0	(1.6%)	2,963.3	2,999.4	1%
Tijuana*	921.5	853.5	(7.4%)	2,003.6	1,890.7	(6%)
Puerto Vallarta	649.9	615.4	(5.3%)	1,363.3	1,347.1	(1%)
Los Cabos	608.3	613.4	0.8%	1,267.2	1,270.5	0%
Montego Bay	400.1	274.5	(31.4%)	856.3	559.0	(35%)
Guanajuato	230.8	222.9	(3.4%)	515.0	513.4	(0%)
Hermosillo	156.5	150.8	(3.6%)	334.3	319.9	(4%)
Morelia	108.6	123.1	13.4%	241.7	281.5	16%
Kingston	121.9	119.4	(2.1%)	288.9	274.9	(5%)
La Paz	88.2	92.8	5.2%	187.5	202.8	8%
Mexicali	89.5	72.4	(19.1%)	190.2	172.2	(9.5%)
Aguascalientes	67.4	64.6	(4.1%)	148.4	144.1	(3%)
Los Mochis	52.1	48.8	(6.4%)	109.9	108.2	(2%)
Manzanillo	24.4	21.4	(12.2%)	51.9	46.6	(10%)
Total	4,875.4	4,608.2	(5.5%)	10,521.5	10,130.2	(3.7%)

*Passengers in Tijuana who use CBX in both directions are classified as international.

CBX users (in thousands):

Airport	Feb-25	Feb-26	% Change	Jan - Feb 25	Jan - Feb 26	% Change
Tijuana	285.9	265.8	(7.0%)	659.1	599.9	(9.0%)

Highlights for the month:

• Seats and load factors
  The seats available during February 2026 decreased by 3.4%, compared to February 2025. The load factors for the month went from 81.2% in February 2025 to 79.4% in February 2026.

• Information on airport operations in Jalisco
  As a result of the events that took place in various locations of the State of Jalisco on February 22, 2026, and in light of the different alerts issued by the various levels of government, Guadalajara and Puerto Vallarta International Airports faced the following flight cancellations: on February 22, 120 cancellations were recorded at Guadalajara Airport, 89 at Puerto Vallarta Airport, and two at Manzanillo Airport. On February 23, there were 103 cancellations, 52 in Puerto Vallarta, and two in Manzanillo.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Why did PAC report a 5.5% passenger decline in February 2026?

The decline was due to weaker traffic at several airports and weather disruptions. According to the company, Montego Bay fell 31.4% after Hurricane Melissa and other airports like Mexicali and Tijuana recorded notable decreases, lowering aggregate monthly traffic.

How much did international traffic change for PAC in February 2026 (PAC)?

International traffic fell by 6.6% year-over-year in February 2026. According to the company, international passengers totaled 2,128.9k, driven down mainly by a 31.4% drop at Montego Bay and declines at several Pacific gateway airports.

What airports showed growth for PAC in February 2026 and by how much?

Selected airports recorded increases: Morelia total passengers rose 13.4% and La Paz international rose 37.3%. According to the company, these gains offset declines at larger hubs but did not prevent an overall traffic decrease.

How did seats and load factor change for PAC in February 2026?

Available seats decreased 3.4% and load factor fell to 79.4% from 81.2% year-over-year. According to the company, the drop in seats and load factor reflected lower demand and the mix of cancellations and reduced operations during the month.

What operational disruptions affected PAC airports in February 2026 (PAC)?

Flight cancellations occurred on February 22–23, 2026 in Jalisco airports following security alerts. According to the company, Guadalajara had 223 cancellations across Feb 22–23 and Puerto Vallarta recorded 141 cancellations over those two days.