Grupo Aeroport Stock Price, News & Analysis

Grupo Aeroportuario del Pacífico (PAC) has scheduled its General Ordinary and Extraordinary Shareholders’ Meetings for April 22, 2022, in Guadalajara, Mexico. Key agenda items include the CEO’s operational report for FY2021, ratification of Board actions, approval of financial statements, and a proposed dividend of Ps. 14.40 per share from retained earnings. Additionally, the Extraordinary Meeting will discuss increasing common stock by Ps. 8.03 billion and the cancellation of repurchased shares. Shareholders must register to attend, with details provided in the announcement.

Grupo Aeroportuario del Pacífico (PAC) reported strong recovery metrics for 4Q21, with a 121.3% increase in total revenues compared to 4Q20, resulting in positive EBITDA of Ps. 3,255.0 million, an 84.2% rise. Passenger traffic surged by 55.3%, marking a significant recovery from the pandemic's impact. Despite challenges such as rising operational costs and pandemic uncertainties, the company noted no need for expected credit loss reserves. Their financial position as of December 31, 2021, showed cash reserves of Ps. 13,332.9 million, along with successful long-term debt issuance of Ps. 2,500.0 million.

Grupo Aeroportuario del Pacífico (PAC) reported preliminary passenger traffic for January 2022, indicating a 2.3% increase compared to January 2019. Tijuana and Los Cabos led growth with increases of 28.9% and 6.3%, respectively. In contrast, Guadalajara and Puerto Vallarta saw declines of 8.2% and 11.8%. Compared to January 2021, total traffic rose by 37.1%, with load factors improving from 53.3% to 68.7%.

The number of available seats increased by 28.6%, reflecting expanded capacity.

Grupo Aeroportuario del Pacífico (PAC) reported a 4.1% increase in terminal passenger traffic for December 2021 compared to December 2019 across its 12 airports in Mexico. Tijuana, Los Cabos, and Puerto Vallarta observed significant increases of 18.9%, 11.2%, and 3.2%, respectively. In contrast, Guadalajara's traffic decreased by 4.7%. The company is cautious about the potential impact of the COVID-19 Omicron variant on travel. Overall, passenger traffic in 2021 grew compared to 2020 data, and the number of available seats rose 23.9% from December 2020.

Grupo Aeroportuario del Pacífico (PAC) reported a 3.7% increase in terminal passenger traffic for November 2021 compared to November 2019, despite a 6.7% decline at Guadalajara airport. Key airports, Tijuana, Los Cabos, and Puerto Vallarta, saw significant traffic growth of 19.2%, 16.2%, and 7.8%, respectively. Year-to-date traffic figures for January-November 2021 showed an overall decrease of 8.9% against 2019 numbers. The company experienced a 25.1% rise in available seats and a load factor improvement to 78.9%. New routes were added to bolster connectivity.

Grupo Aeroportuario del Pacífico (PAC) announced the resignation of Alfredo de Jesús Casar Pérez from its Board of Directors on November 5, 2021. The Nominations and Compensation Committee will start the process of finding a replacement for the Series 'B' shareholders. This decision is expected to be presented for approval at the General Shareholders’ Meeting. The company operates 12 airports in Mexico’s Pacific region and continues to focus on maintaining operational efficiency and stakeholder communication.

Grupo Aeroportuario del Pacífico (PAC) reported a 3.4% increase in total terminal passengers for October 2021 compared to October 2019, with significant growth at Los Cabos, Puerto Vallarta, and Tijuana airports.

However, Guadalajara airport saw a 7.8% decline in passenger traffic. The report also indicates an increase in available seats by 30.8% year-over-year, with load factors improving to 78.1% from 66.2%. The U.S. will implement new vaccination requirements for foreign travelers starting November 8, which may positively impact Tijuana airport traffic.

Grupo Aeroportuario del Pacífico (PAC) reported positive Q3 2021 results, showing revenue growth despite ongoing COVID-19 challenges. Total revenues rose by 72.5% compared to Q3 2020, reaching Ps. 5,292.8 million. EBITDA surged 183.4% to Ps. 3,098.4 million, with a margin increase to 58.5%. Passenger traffic improved significantly, up 105.1% year-over-year, indicating recovery momentum. However, cash and equivalents decreased 30.0% year-over-year to Ps. 10,650.8 million, raising concerns for future liquidity.

Grupo Aeroportuario del Pacífico (PAC) announced the successful issuance of 25 million long-term bond certificates in Mexico, totaling Ps. 2.5 billion. The bonds include Ps. 1.5 billion in 5-year green bonds and Ps. 1.0 billion for the reopening of a fixed-rate bond, both set to fund investments under GAP's Master Development Program and eligible green projects. With a subscription rate of 4.7x, the bonds received top credit ratings of Aaa.mx from Moody’s and MxAAA from S&P.