Grupo Aeroport Stock Price, News & Analysis

Grupo Aeroportuario del Pacífico (PAC) reported April 2022 terminal passenger traffic showing a 14.6% increase compared to April 2019. Key airports like Tijuana and Puerto Vallarta saw significant growth with increases of 35.3% and 24.1%, respectively. Total terminal passengers rose to 2,659.7 thousand in April 2022, up 13.9% year-over-year, with a 12.0% increase for the January-April period. The number of available seats increased by 33.3%, pushing load factors up to 81.4%. GAP continues to expand, adding new routes for future growth.

Grupo Aeroportuario del Pacífico (PAC) announced a dividend payment of Ps.14.40 per outstanding share, to be paid in installments. The first installment of Ps.7.20 per share will be distributed on May 16, 2022. This decision follows the resolution approved at the Annual General Ordinary Shareholders’ Meeting on April 22, 2022. GAP operates 12 airports in Mexico, including major cities like Guadalajara and Tijuana, and has expanded its international presence with holdings in Jamaican airports.

Grupo Aeroportuario del Pacífico (PAC) reported a strong recovery in its 1Q22 results, with passenger traffic up by 69.9% compared to 1Q21 and 5.8% versus 1Q19. Total revenues increased by 65.3%, totaling Ps. 6,012.6 million, driven by rising aeronautical and non-aeronautical revenues. EBITDA surged 111.0% to Ps. 3,708.4 million, reflecting a significant recovery in business performance. Cash and equivalents reached Ps. 16,899.9 million, up 14.7% from 2021. However, costs rose due to heightened operational activities. The company remains cautious about ongoing pandemic effects.

Grupo Aeroportuario del Pacífico (PAC) held its Annual General Ordinary and Extraordinary Shareholders’ Meetings with an attendance quorum of 82.9% and 86.0%. Key resolutions included the approval of financial statements for FY 2021, reporting a net income of Ps. 5.81 billion, and a dividend of Ps. 14.40 per share. The company also approved a share repurchase program of up to Ps. 2 billion and increased its common stock. Furthermore, members of the Board of Directors were ratified. This meeting underscores GAP's strong financial health and commitment to shareholder returns.

Grupo Aeroportuario del Pacífico (PAC) filed its annual report for the year ended December 31, 2021, with the Mexican Stock Exchange and Form 20-F with the U.S. SEC. The reports are accessible via the BMV and SEC websites as well as GAP’s corporate site. The company operates 12 airports in Mexico's Pacific region, including major cities and tourist destinations. GAP's strategic expansions include ownership of Sangster International Airport and a concession for Norman Manley International Airport in Jamaica. The release contains forward-looking statements subject to risks and uncertainties.

Grupo Aeroportuario del Pacífico (PAC) reported a 11.7% increase in terminal passenger traffic in March 2022 compared to 2019. Key airports, including Tijuana and Los Cabos, experienced significant increases of 37.1% and 17.7%, respectively. The total number of terminal passengers reached 4,730.3 thousand, marking a 10.2% increase in March compared to 2019. The company also noted a 48.7% growth in available seats year-over-year, with load factors rising to 77.4%.

Grupo Aeroportuario del Pacífico (PAC) held its Investor Day 2022 at Tijuana International Airport on March 25, 2022, discussing both short- and long-term strategies alongside financial expectations. This event gathered investors and analysts, and the presentation is accessible on the company’s website. Grupo Aeroportuario del Pacífico operates 12 airports across Mexico’s Pacific region and has expanded into Jamaica with significant airport concessions. The company emphasizes forward-looking statements regarding its financial health and strategic decisions.

Grupo Aeroportuario del Pacífico (PAC) has refinanced its bank debt of US$191 million, originally due in early 2024, extending the maturity to 2026. The refinancing involves two loans: US$95.5 million from BBVA México at a 2.45% fixed rate for 48 months, and US$95.5 million from Scotiabank at 2.64% for 46 months. This extension enhances financial flexibility, allowing better allocation of resources in upcoming years.

On March 17, 2022, Grupo Aeroportuario del Pacífico (PAC) successfully issued 50 million long-term bond certificates valued at Ps. 5 billion through a dual tranche strategy in Mexico. The issuance included 20 million 5-year bonds (GAP22) worth Ps. 2 billion at a variable interest rate, and 30 million 10-year bonds (GAP22-2) totaling Ps. 3 billion at a fixed interest rate of 9.67%. The proceeds will fund investments under the Master Development Program and financial liabilities. The bonds received top credit ratings: “Aaa.mx” from Moody's and “MxAAA” from S&P.