Welcome to our dedicated page for Grupo Aeroport news (Ticker: PAC), a resource for investors and traders seeking the latest updates and insights on Grupo Aeroport stock.
Grupo Aeroportuario del Pacífico (GAP) operates 13 airports across Mexico's Pacific corridor and Jamaica, driving regional connectivity through strategic infrastructure management. This news hub provides investors and industry stakeholders with timely updates on operational developments, financial disclosures, and strategic initiatives shaping Latin America's aviation sector.
Key resources include: Earnings reports detailing aeronautical/non-aeronautical revenue streams, concession agreement updates, and expansion projects enhancing passenger capacity. Track infrastructure investments governed by IFRIC 12 standards and service improvements across key hubs like Guadalajara and Montego Bay.
Bookmark this page for verified updates on terminal expansions, cargo facility upgrades, and partnership announcements. Our curated news collection supports informed analysis of GAP's market position in Mexico's growing aviation sector and Caribbean expansion strategy.
Grupo Aeroportuario del Pacifico (GAP) reported a 1.9% decrease in total terminal passenger traffic for June 2024 compared to June 2023. This decline was seen across most of GAP's 12 Mexican airports, with Tijuana and Los Cabos experiencing significant decreases of 5.8% and 0.4%, respectively. However, Puerto Vallarta and Guadalajara airports saw slight increases of 0.7% and 0.5%, respectively. The seats available during June 2024 decreased by 6.2%, but the load factor improved to 83.4%, up from 79.7% in June 2023.
On a year-to-date basis, total terminal passengers also decreased by 1.9% compared to the same period in 2023. The most notable decreases were observed in Morelia and Mexicali, with declines of 27.7% and 35.8%, respectively. Despite the overall decline, international passenger traffic showed a modest increase of 1.7% compared to June 2023.
Grupo Aeroportuario del Pacífico (GAP) announced that Hurricane Beryl caused no major damage to its Montego Bay and Kingston airports in Jamaica. Both airports were closed from midnight on July 2 to July 3 as a precaution. The Montego Bay airport resumed operations on July 3 at 6:00 p.m., while Kingston Airport, which sustained minor roof damage, will reopen on July 5 at 5:00 a.m. GAP's property insurance covers natural disasters, so no significant economic impact is expected. The hurricane's center is now more than 100 km southwest of Negril Point, Jamaica.
Grupo Aeroportuario del Pacifico (GAP), operating 12 airports across Mexico's Pacific region, has drawn down Ps. 875.0 million from a BBVA México credit facility. The loan carries a variable interest rate of TIIE-28 plus 20 basis points, with monthly interest payments and principal due on June 19, 2025. Proceeds will finance the acquisition of 51.5% of Guadalajara World Trade Center (GWTC) shares, aligning with a previous announcement on June 11. The company is listed on both the New York (PAC) and Mexican (GAP) stock exchanges.
Grupo Aeroportuario del Pacifico (GAP), listed on NYSE as PAC, announced the acquisition of 51.5% of the shares of Guadalajara World Trade Center (GWTC) for Ps. 875.5 million. GWTC consists of seven companies specializing in international cargo services at Guadalajara and Puebla Airports. In 2023, GWTC generated revenues exceeding Ps. 1 billion with an EBITDA margin of around 40%, and no financial debt. The transaction, expected to close by June 25, will be financed either through a bank loan or the company's resources. This acquisition helps GAP gain expertise in the cargo business and leverage nearshoring opportunities in the region.
Grupo Aeroportuario del Pacífico (NYSE: PAC; BMV: GAP) has refinanced a maturing credit facility with Banco Nacional de México, S.A. (Citibanamex) for Ps. 1.5 billion. The new agreement extends the maturity by 18 months with interest payable monthly at a variable rate of TIIE-28 plus 24 basis points and a principal payment due on December 5, 2025. GAP operates 12 airports in Mexico's Pacific region and holds stakes in airports in Jamaica. GAP is listed on both the New York and Mexican Stock Exchanges.
Grupo Aeroportuario del Pacífico (NYSE: PAC; BMV: GAP) reported a 2.3% decrease in total terminal passenger traffic in May 2024 compared to May 2023. Specific airports experienced varied changes: Puerto Vallarta saw a 3.2% increase, while Tijuana, Guadalajara, and Los Cabos saw decreases of 5.2%, 2.7%, and 1.7% respectively. Montego Bay also saw a minor decrease of 0.3%.
On a year-to-date basis from January to May, overall passenger traffic decreased by 1.9%. The number of available seats dropped by 7.2% year-over-year, but load factors improved from 78.8% to 82.9%. New routes were launched including Guadalajara to Vancouver by Flair Airlines and Los Cabos to Phoenix by Frontier.
Domestic and international passenger traffic at various airports showed mixed results, with some increases and notable declines. Guadalajara and Tijuana saw significant declines in both domestic and international traffic.
Grupo Aeroportuario del Pacifico reported a 7.3% decrease in passenger traffic in April 2024 compared to 2023, affecting various airports in Mexico. The company highlighted factors such as decreased seat availability due to engine revisions and the impact of the Holy Week Holiday. Despite introducing new routes, the overall passenger traffic declined, impacting both domestic and international terminals.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) announced the filing of its 2023 annual report and Form 20-F with regulatory authorities. The company operates 12 airports in Mexico, including major cities and tourist destinations. GAP's shares are listed on NYSE and BMV. The press release contains references to EBITDA as a financial performance measure.
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