Grupo Aeroport Stock Price, News & Analysis

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.

Grupo Aeroportuario del Pacífico (NYSE: PAC; BMV: GAP) has successfully refinanced a USD$40.0 million credit facility with Citibanamex that matured on September 26, 2024. The refinancing extends the maturity by 6 additional months, with the new principal payment due on March 21, 2025. The terms include:

• Monthly interest payments at a variable rate of SOFR plus 25 basis points
• No additional fees

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 Pacifico (NYSE: PAC) has successfully issued 56,481,343 long-term bond certificates in Mexico, totaling Ps. 5.65 billion. The five-year bonds, under the ticker 'GAP 24', will pay interest every 28 days at TIIE-28 plus 60 basis points, maturing on August 30, 2029. The issuance was 1.2 times oversubscribed and received top credit ratings from Moody's and S&P.

The proceeds will be used to repay Ps. 1.5 billion of 'GAP 15' bonds maturing in February 2025, with the remainder funding capital investments under the Master Development Program in Mexico for 2024 and commercial investments. GAP operates 12 airports in Mexico's Pacific region and two in Jamaica.

Grupo Aeroportuario del Pacifico (NYSE: PAC) reported a 7.2% decrease in total passenger traffic for August 2024 compared to August 2023. Key highlights include:

- Guadalajara airport: 3.4% decrease
- Tijuana airport: 8.4% decrease
- Los Cabos airport: 11.1% decrease
- Puerto Vallarta airport: 5.9% decrease
- Montego Bay airport: 9.4% decrease

The company's domestic passenger traffic decreased by 10.8%, while international passenger traffic declined by 1.5%. Seats available during August 2024 decreased by 10.4% compared to the previous year. However, the load factor improved from 81.4% to 84.3% year-over-year.