Grupo Aeroport Stock Price, News & Analysis

Grupo Aeroportuario del Pacífico (PAC) announced the prepayment of loans totaling Ps. 2.0 billion to Scotiabank and BBVA, aimed at enhancing its financial position. The loan to Scotiabank, due July 2021, was repaid using resources from a recent bond issuance, while the payment to BBVA, due May 2022, utilized the company's own funds. Both loans were secured during the pandemic for general corporate purposes. This strategic move underscores PAC's commitment to maintaining sound financial management amid ongoing uncertainties in the aviation sector.

Grupo Aeroportuario del Pacifico (PAC) announced a capital reduction payment of Ps. 3.8230950615 per share, set for May 28, 2021. This follows the approval at the General Extraordinary Shareholders’ Meeting on April 27, 2021, marking the thirty such payment for the company. Grupo Aeroportuario del Pacifico operates 12 airports in Mexico's Pacific region, including significant cities and tourist destinations. Their shares are traded on the NYSE and BMV, and the company has been involved in international operations in Jamaica.

Grupo Aeroportuario del Pacífico (PAC) announced the successful issuance of 45 million long-term bond certificates valued at Ps. 4.5 billion. This issuance includes 25 million four-year bonds under the ticker “GAP21” and 20 million seven-year bonds under “GAP21-2”. The issuance was significantly oversubscribed at 5.8 times the initial target. Proceeds will be used for commercial investments and to settle financial liabilities due in July 2021. Both bond issues received high credit ratings, with “Aaa.mx” from Moody’s and “MxAAA” from S&P.

Grupo Aeroportuario del Pacifico (PAC) reported a 15.7% decline in terminal passenger traffic for April 2021 compared to April 2019, with total passengers at 2.11 million. The Tijuana airport showed a 7.1% increase, while others like Puerto Vallarta saw a 32.9% decrease. Domestic traffic dropped by 19.4% year-on-year, but there was a significant recovery from April 2020, with overall growth reaching 654.1%. The report includes comparisons with 2019 and 2020 figures to highlight trends amid the pandemic's impact on air travel.

Grupo Aeroportuario del Pacífico (PAC) reported a 26.8% decline in total revenues for 1Q21, amounting to Ps. 3,638 million, primarily due to COVID-19's impact on passenger traffic, which fell 36.8% year-over-year. Aeronautical services revenues decreased by 33.6%, while non-aeronautical services revenues dropped 37.8%. Despite these challenges, the company achieved positive EBITDA of Ps. 1,757 million. Cash and cash equivalents increased by 34.2% to Ps. 14,728 million compared to 1Q20. The financial outlook remains cautious due to ongoing pandemic uncertainties.

Grupo Aeroportuario del Pacifico (PAC) held its Annual General Shareholders’ Meetings on April 27, 2021, with a quorum of 87.2% and 90.2%. Key resolutions included the approval of the financial statements for the fiscal year ending December 31, 2020, reporting net income of Ps.1,852,505,651. The company also approved a share repurchase program worth Ps. 3 billion over the next 12 months. Additionally, 35,424,453 treasury shares will be cancelled, and shareholders’ equity will be reduced by Ps. 2 billion. Board members and committee roles were ratified, ensuring stable governance moving forward.

Grupo Aeroportuario del Pacífico (PAC) has filed its annual report for the year ended December 31, 2020, with both the Mexican Stock Exchange and the U.S. SEC. This filing provides a comprehensive overview of the company's financial status and operational performance.

The company operates 12 airports across Mexico's Pacific region, serving key cities and tourist destinations. It also recently expanded its operations in Jamaica by acquiring interests in local airports.

Grupo Aeroportuario del Pacifico (PAC) reported a 1.2% increase in total terminal passenger traffic for March 2021 compared to March 2020, marking an uptick in domestic traffic by 10.6%. However, international traffic saw a significant decline of 15.3%. Across its 12 Mexican airports, total passenger numbers decreased by 4.6%. The company noted that domestic capacity is recovering as airlines ramp up operations, but international travel remains hampered due to new entry requirements in the U.S. and flight suspensions by Canada.

Grupo Aeroportuario del Pacífico (PAC) has scheduled its General Ordinary and Extraordinary Shareholders’ Meeting for April 27, 2021. Key agenda items include the presentation of the CEO's annual report, financial statements for 2020, and a proposal to cancel 35,424,453 treasury shares while reducing shareholders' equity by up to Ps. 2 billion. The meeting will also address the repurchase of shares valued at up to Ps. 3 billion over the next year. Shareholders must deposit stock certificates in advance to attend.