Grupo Aeroportuario del Pacifico Reports in April 2025 a Passenger Traffic Increase of 9.1% Compared to 2024

Rhea-AI Summary

Grupo Aeroportuario del Pacifico (NYSE: PAC) reported strong passenger traffic growth in April 2025. The company's total terminal passengers across its 12 Mexican airports increased by 9.1% compared to April 2024, reaching 5.53 million passengers. Key airports showed significant growth: Tijuana (+10.0%), Guadalajara (+9.0%), Los Cabos (+8.7%), and Puerto Vallarta (+5.7%). Notable domestic traffic increases were seen in Mexicali (+45.4%) and Los Mochis (+31.3%). However, Montego Bay airport experienced a 1.3% decrease in passenger traffic. The company's available seats increased by 11.0%, while load factors slightly decreased from 81.8% to 80.4% year-over-year.

Positive

• Total passenger traffic increased 9.1% YoY across Mexican airports
• Major airports showed strong growth: Tijuana +10.0%, Guadalajara +9.0%, Los Cabos +8.7%
• Significant domestic traffic growth in smaller airports: Mexicali +45.4%, Los Mochis +31.3%
• Available seats capacity expanded by 11.0%

Negative

• Montego Bay airport traffic declined 1.3% YoY
• Load factors decreased from 81.8% to 80.4%
• Puerto Vallarta international traffic decreased 2.7%

Insights

Transportation Analyst

GAP's 9.1% traffic growth and expansion across key airports signals strong revenue momentum despite slight efficiency decline in load factors.

GAP's April traffic figures showcase robust operational momentum with 9.1% year-over-year growth, outpacing the year-to-date increase of 5.4% and signaling a Q2 acceleration. The 12.3% surge in domestic passengers is particularly noteworthy, dramatically outperforming international traffic growth of 5.2%.

Regional Mexican airports displayed exceptional strength: Mexicali (+45.0%), Los Mochis (+31.0%), and La Paz (+20.4%) - indicating robust domestic travel demand beyond major hubs. GAP's cornerstone airports all delivered solid performance: Tijuana leading at +10.0%, followed by Guadalajara (+9.0%), Los Cabos (+8.7%), and Puerto Vallarta (+5.7%).

The Tijuana Cross Border Xpress facility continues proving its strategic value with 13.8% growth, facilitating increasing traffic between Southern California and Mexico. This infrastructure investment is clearly paying dividends.

The divergence between capacity growth (+11.0%) and passenger growth (+9.1%) deserves attention, resulting in a modest load factor decline from 81.8% to 80.4%. While still operationally healthy, this indicates airlines might be slightly overestimating demand growth.

Jamaica presents contrasting results: Kingston's strong 14.5% growth versus Montego Bay's 1.3% decline. Year-to-date figures reveal deeper challenges at Montego Bay (-6.5%) and Puerto Vallarta's international segment (-4.2%).

The domestic-international growth disparity has revenue implications. International passengers typically generate higher per-capita revenue through duty-free spending and premium fees, so the stronger domestic growth may slightly dilute revenue yield despite overall volume increases.

GUADALAJARA, Mexico, May 06, 2025 (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 April 2025, compared with April 2024.

For April 2025, the total number of terminal passengers at GAP’s 12 Mexican airports increased by 9.9%, compared to April 2024. Tijuana, Guadalajara, Los Cabos, and Puerto Vallarta airports presented an increase in passenger traffic of 10.0%, 9.0%, 8.7%, and 5.7% respectively, compared to April 2024. On the other hand, Montego Bay presented a decrease in passenger traffic of 1.3%, compared to April 2024.

Domestic Terminal Passengers (in thousands):

Airport	Apr-24	Apr-25	% Change		Jan - Apr 24	Jan - Apr 25	% Change
Guadalajara	973.0	1,067.1	9.7	%	3,644.7	4,088.2	12.2	%
Tijuana*	691.9	748.6	8.2	%	2,677.5	2,806.1	4.8	%
Puerto Vallarta	232.7	278.4	19.6	%	807.6	932.0	15.4	%
Los Cabos	216.1	254.6	17.8	%	853.8	923.5	8.2	%
Montego Bay	0.0	0.0	N/A		0.0	0.0	N/A
Guanajuato	163.0	194.0	19.0	%	647.0	709.6	9.7	%
Hermosillo	179.0	184.4	3.0	%	636.5	693.1	8.9	%
Kingston	0.3	0.0	(90.0	%)	0.8	0.1	(88.1	%)
Morelia	50.1	60.2	20.0	%	196.4	246.3	25.4	%
La Paz	94.4	111.8	18.5	%	365.8	392.4	7.3	%
Mexicali	72.2	105.0	45.4	%	360.5	398.2	10.5	%
Aguascalientes	58.2	53.3	(8.6	%)	200.6	205.1	2.2	%
Los Mochis	50.6	66.5	31.3	%	176.8	231.6	30.9	%
Manzanillo	10.1	10.7	6.8	%	46.0	45.5	(1.1	%)
Total	2,791.9	3,134.8	12.3	%	10,614.0	11,671.6	10.0	%

International Terminal Passengers (in thousands):

Airport	Apr-24	Apr-25	% Change		Jan - Apr 24	Jan - Apr 25	% Change
Guadalajara	421.5	452.9	7.4	%	1,911.6	1,959.9	2.5	%
Tijuana*	307.8	351.1	14.1	%	1,260.1	1,366.0	8.4	%
Puerto Vallarta	386.3	375.7	(2.7	%)	1,930.0	1,848.2	(4.2	%)
Los Cabos	425.5	442.9	4.1	%	1,833.4	1,825.8	(0.4	%)
Montego Bay	435.9	430.4	(1.3	%)	1,893.2	1,769.4	(6.5	%)
Guanajuato	73.1	84.3	15.3	%	320.2	347.4	8.5	%
Hermosillo	6.7	6.1	(9.9	%)	30.0	27.0	(10.1	%)
Kingston	135.1	155.0	14.7	%	526.5	583.0	10.7	%
Morelia	50.0	56.0	12.0	%	207.2	230.2	11.1	%
La Paz	0.9	3.0	222.9	%	4.1	11.7	182.9	%
Mexicali	0.6	0.6	(3.7	%)	2.2	2.4	5.7	%
Aguascalientes	26.9	27.5	2.2	%	96.4	101.1	5.0	%
Los Mochis	0.7	0.7	1.7	%	2.7	2.6	(4.3	%)
Manzanillo	7.1	9.8	36.6	%	47.4	53.7	13.2	%
Total	2,278.1	2,395.8	5.2	%	10,065.2	10,128.3	0.6	%

Total Terminal Passengers (in thousands):

Total
Airport	Apr-24	Apr-25	% Change		Jan - Apr 24	Jan - Apr 25	% Change
Guadalajara	1,394.5	1,520.0	9.0	%	5,556.3	6,048.1	8.9	%
Tijuana*	999.7	1,099.7	10.0	%	3,937.7	4,172.0	6.0	%
Puerto Vallarta	619.0	654.1	5.7	%	2,737.6	2,780.2	1.6	%
Los Cabos	641.6	697.5	8.7	%	2,687.3	2,749.3	2.3	%
Montego Bay	435.9	430.4	(1.3	%)	1,893.2	1,769.4	(6.5	%)
Guanajuato	236.2	278.4	17.9	%	967.2	1,057.0	9.3	%
Hermosillo	185.8	190.5	2.5	%	666.6	720.1	8.0	%
Kingston	135.4	155.0	14.5	%	527.4	583.1	10.6	%
Morelia	100.1	116.2	16.0	%	403.5	476.5	18.1	%
La Paz	95.3	114.8	20.4	%	369.9	404.1	9.2	%
Mexicali	72.9	105.6	45.0	%	362.7	400.5	10.4	%
Aguascalientes	85.1	80.7	(5.2	%)	297.0	306.2	3.1	%
Los Mochis	51.3	67.2	31.0	%	179.5	234.1	30.4	%
Manzanillo	17.2	20.5	19.2	%	93.4	99.2	6.2	%
Total	5,070.0	5,530.6	9.1	%	20,679.3	21,799.9	5.4	%

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

CBX users (in thousands):

Airport	Apr-24	Apr-25	% Change		Jan - Apr 24	Jan - Apr 25	% Change
Tijuana	303.1	345.0	13.8	%	1,244.9	1,343.2	7.9	%

Highlights for the month:

• Seats and load factors: The seats available during April 2025 increased by 11.0%, compared to April 2024. The load factors for the month went from 81.8% in April 2024 to 80.4% in April 2025.
  

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 was PAC's total passenger traffic growth in April 2025?

Grupo Aeroportuario del Pacifico (PAC) reported a 9.1% increase in total passenger traffic in April 2025 compared to April 2024, reaching 5.53 million passengers.

Which PAC airports showed the strongest passenger growth in April 2025?

Among major airports, Tijuana showed the strongest growth at 10.0%, followed by Guadalajara at 9.0% and Los Cabos at 8.7%. Among smaller airports, Mexicali led with 45.4% growth and Los Mochis with 31.3%.

How did PAC's load factors change in April 2025 vs 2024?

PAC's load factors decreased from 81.8% in April 2024 to 80.4% in April 2025, despite an 11.0% increase in available seats.

What was the performance of PAC's international airports in Jamaica?

Montego Bay airport in Jamaica experienced a 1.3% decrease in passenger traffic compared to April 2024, while Kingston airport saw a 14.5% increase in total passengers.