Grupo Aeroport Stock Price, News & Analysis

Grupo Aeroportuario del Pacifico (PAC) reported a 5.4% increase in total terminal passenger traffic for January 2025 compared to January 2024. The company's 12 Mexican airports saw a 6.3% increase in passenger traffic, with notable growth at major hubs: Guadalajara (+9.9%), Tijuana (+5.2%), Puerto Vallarta (+1.9%), and Los Cabos (+0.6%).

Domestic passenger traffic rose by 7.5% to 2,899,100 passengers, while international traffic increased by 2.9% to 2,747,000 passengers. The company's seats available increased by 2.3%, and load factors improved from 81.4% to 83.9%. However, Montego Bay airport experienced a 7.3% decrease in passenger traffic.

Alaska Airlines launched new routes connecting Puerto Vallarta to New York (JFK), Sacramento, Kansas City, and St. Louis, as well as Los Cabos to Sacramento.

Grupo Aeroportuario del Pacifico (NYSE:PAC) has successfully completed a Ps. 6.0 billion bond certificate issuance in Mexico through two tranches. The issuance, which was oversubscribed by 3.4x, consists of:

1. A Ps. 3.0 billion issuance ('GAP 25') with variable rate TIIE+50bps, payable every 28 days, maturing February 1, 2028

2. A Ps. 3.0 billion reopening of 'GAP22-2' with 9.67% fixed rate, payable every 182 days, maturing March 4, 2032

Both issuances received top credit ratings in Mexico: 'Aaa.mx' from Moody's and 'mxAAA' from S&P. The proceeds will be used to repay existing debt certificates 'GAP 20' (Ps. 3.0 billion) and 'GAP 21' (Ps. 2.5 billion), with remaining funds allocated to Master Development Program investments and commercial investments for 2025.

Grupo Aeroportuario del Pacifico (PAC) reported a 2.9% increase in total terminal passengers for December 2024 compared to December 2023. Guadalajara and Tijuana airports showed growth of 8.2% and 2.7% respectively, while Puerto Vallarta and Los Cabos experienced decreases of 1.8% and 0.9%. Montego Bay saw a 5.6% decline.

The company's load factors improved from 80.4% to 85.5%, despite a 3.1% decrease in available seats. For the full year 2024, total passenger traffic decreased by 2.1% compared to 2023. Notable expansions included multiple new routes from Guadalajara to various domestic and international destinations, operated by carriers including Viva, Volaris, Alaska Airlines, and Aeromexico.

Grupo Aeroportuario del Pacifico (PAC) reported a 1.8% increase in total terminal passengers for November 2024 compared to November 2023. Key airports showing growth included Tijuana (+5.3%), Guadalajara (+5.0%), Los Cabos (+0.5%), and Puerto Vallarta (+0.1%). However, Montego Bay experienced a 7.4% decrease.

Total domestic passengers increased by 0.6% to 2.95 million, while international passengers grew by 3.5% to 2.28 million. The company's available seats decreased by 1.0%, but load factors improved from 82.8% to 85.2%. Several new routes were launched, including connections to Frankfurt, Winnipeg, and Atlanta.

Grupo Aeroportuario del Pacifico (NYSE: PAC) has announced the final installment payment date for its capital stock reduction. The company will distribute Ps. 6.93 per share on November 26th, 2024, completing the capital reduction plan approved at the Extraordinary Shareholders' Meeting on April 25th, 2024. This marks the thirty-ninth such payment and represents the second and final installment of the approved capital reduction.

Grupo Aeroportuario del Pacifico (PAC) reported a 0.8% decrease in total terminal passengers for October 2024 compared to October 2023. Guadalajara and Los Cabos airports showed growth of 3.4% and 2.6% respectively, while Tijuana and Puerto Vallarta experienced declines of 1.6% and 0.8%. Montego Bay saw an 8.8% decrease. The company's available seats decreased by 5.9%, though load factors improved from 82.0% to 86.5%. New routes were established connecting various destinations including Guadalajara-San Jose, Tijuana-Las Vegas, Puerto Vallarta-Praga, and Kingston-Punta Cana.

Grupo Aeroportuario del Pacifico reported its consolidated results for the third quarter of 2024 (3Q24). Total revenues increased by Ps. 839.7 million, or 11.4%, compared to 3Q23. However, aeronautical services revenues decreased by 3.8% due to a decline in passenger traffic, primarily influenced by preventive reviews of Pratt & Whitney engines affecting Volaris and VivaAerobus fleets. This was offset by a 38.7% increase in non-aeronautical revenues, driven by the consolidation of cargo and free trade zone business at Guadalajara airport.

Total operating costs rose by 20.6%, with a notable increase in cost of services by 21.3%. Despite increased revenues, net income decreased by 16.6% to Ps. 1,982.8 million. EBITDA saw a modest increase of 5.6%, reaching Ps. 4,507.6 million, while the EBITDA margin slightly declined to 67.0%. Passenger traffic fell by 5.7% across the company's 14 airports.

The company refinanced credit facilities and issued long-term bonds totaling Ps. 5,648.1 million for capital investments and debt refinancing. Cash and cash equivalents stood at Ps. 15,828.0 million as of September 30, 2024.

Grupo Aeroportuario del Pacífico (NYSE: PAC; BMV: GAP) has successfully refinanced a credit facility with Banco Santander México for Ps. 1.5 billion. The refinancing extends the maturity by 12 months, with the new maturity date set for October 17, 2025. The terms include:

• Monthly interest payments at a variable rate of TIIE-28 plus 38 basis points
• No fees
• Principal payment due on the maturity date

GAP operates 12 airports in Mexico's Pacific region, including major cities and tourist destinations. The company also manages two airports in Jamaica: Sangster International Airport in Montego Bay and Norman Manley International Airport in Kingston.

Grupo Aeroportuario del Pacífico (NYSE: PAC) reports a 3.9% decrease in total terminal passengers for September 2024 compared to September 2023. Key highlights include:

- Guadalajara airport saw a 4.1% increase in passenger traffic
- Los Cabos, Tijuana, and Puerto Vallarta airports experienced decreases of 9.9%, 6.2%, and 5.1% respectively
- Montego Bay airport reported an 11.5% decrease
- Total domestic passengers decreased by 5.5%
- International passengers decreased by 1.2%
- Seats available decreased by 7.8%
- Load factors improved from 77.8% to 80.1%

A new route was introduced between Guadalajara and Toronto by Flair Airlines.