Grupo Aeroport Stock Price, News & Analysis

Grupo Aeroportuario del Pacifico (NYSE: PAC) has successfully refinanced its USD$40.0 million credit facility with Citibanamex that matured on March 21, 2025. The refinancing extends the maturity by 6 months to September 18, 2025, maintaining the same financial institution.

The new terms include monthly interest payments at a variable rate of SOFR plus 25 basis points, with no additional fees. GAP operates a network of 12 airports across Mexico's Pacific region, including major cities like Guadalajara and Tijuana, along with tourist destinations such as Puerto Vallarta and Los Cabos. The company also manages two airports in Jamaica - Sangster International Airport in Montego Bay and Norman Manley International Airport in Kingston.

Grupo Aeroportuario del Pacifico (NYSE: PAC) has announced its General Ordinary Shareholders' Meeting scheduled for April 24, 2025, at the Hilton Midtown Hotel in Guadalajara, Mexico. Key agenda items include:

- Review of 2024 financial results and sustainability report
- Approval of net income allocation of Ps. 8.28 billion to retained earnings
- Proposed dividend of Ps. 16.84 per share from retained earnings of Ps. 18.86 billion
- Renewal of share repurchase program for Ps. 2.5 billion

The meeting will also address board member appointments, compensation, and audit committee matters. Shareholders must register and obtain admission cards to attend, with the share registry closing three business days prior to the meeting.

Grupo Aeroportuario del Pacifico (NYSE: PAC) reported mixed passenger traffic results for February 2025. The company's 12 Mexican airports saw a total passenger increase of 2.6% compared to February 2024.

Key performance highlights include:

• Guadalajara airport: +5.8% passenger growth
• Tijuana airport: +2.7% growth
• Los Cabos airport: -3.8% decline
• Puerto Vallarta airport: -1.8% decline
• Montego Bay airport: -9.6% decline

Overall seat capacity increased by 2.8%, while load factors decreased from 82.1% to 81.2% year-over-year. A new route was established between Montego Bay and Raleigh-Durham operated by Avelo.

Grupo Aeroportuario del Pacífico (NYSE: PAC) reported its consolidated results for the fourth quarter of 2024 (4Q24). The company's total revenues increased by 5.4% to reach Ps. 9,667.1 million compared to 4Q23. EBITDA increased by 14.9% to Ps. 4,757.0 million, while comprehensive income rose by 16.2% to Ps. 2,274.3 million.

Key highlights include:

• Aeronautical and non-aeronautical services revenues combined increased by 16.4%
• Non-aeronautical revenues grew significantly by 32.7%, driven by the consolidation of cargo and free trade zone business at Guadalajara Airport
• Total passenger traffic across the company's 14 airports increased by 1.4% compared to 4Q23
• Operating income increased by 11.0% to Ps. 3,825.3 million
• EBITDA margin (excluding IFRIC-12 effects) was 66.9% in 4Q24 compared to 67.8% in 4Q23

For the full year 2024, the company reported a 1.2% increase in total revenues despite a 0.8% decrease in aeronautical services revenues. The company's cash position stood at Ps. 13,466.0 million as of December 31, 2024, and it refinanced its credit line with Santander for Ps. 1,500.0 million during the quarter.

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.