GAP (PAC) sees 7.6% April traffic drop, Jamaica hit by Hurricane Melissa
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Grupo Aeroportuario del Pacífico reported that total terminal passenger traffic across its 12 Mexican and 2 Jamaican airports fell 7.6% in April 2026 versus April 2025, to 5,113.4 thousand passengers. For January–April, total passengers declined 6.0% to 20,483.2 thousand.
Mexican airports saw a 6.3% drop in April, with Puerto Vallarta, Tijuana and Los Cabos down 17.0%, 10.5% and 8.1%, while Guadalajara grew 0.9%. In Jamaica, Montego Bay traffic fell 22.0% and Kingston 6.0%, with Montego Bay affected by Hurricane Melissa.
Available seats decreased 8.3% in April 2026, but the overall load factor improved from 80.8% to 81.5%, indicating fuller planes despite lower capacity and traffic.
Positive
- None.
Negative
- Total terminal passenger traffic fell 7.6% in April 2026 year-over-year, with notable double-digit declines at Puerto Vallarta, Tijuana, Los Cabos and Montego Bay, and a 6.0% drop in cumulative January–April traffic, signaling weaker volumes across several key leisure and cross-border markets.
Insights
GAP’s April traffic dropped 7.6% as capacity was cut but planes flew fuller.
Grupo Aeroportuario del Pacífico reported a 7.6% year-over-year decline in April 2026 terminal passengers to 5,113.4 thousand, with a 6.0% drop for January–April. Mexican leisure markets like Puerto Vallarta and Los Cabos and the Jamaican airports saw double-digit declines.
The company also reduced seats by 8.3%, yet the systemwide load factor edged up from 80.8% to 81.5%. This suggests airlines cut capacity faster than demand fell, partially protecting efficiency metrics even as absolute volumes weakened.
Montego Bay’s traffic contracted 22.0%, which GAP attributes to Hurricane Melissa, highlighting weather vulnerability at key Caribbean assets. Future disclosures in company filings may clarify whether these declines are temporary or indicate a longer-lasting demand shift in core tourist markets.
Key Figures
April total passengers: 5,113.4 thousand
YTD total passengers: 20,483.2 thousand
Mexican airports traffic change: 6.3% decrease
+5 more
8 metrics
April total passengers
5,113.4 thousand
Total terminal passengers April 2026, down 7.6% vs April 2025
YTD total passengers
20,483.2 thousand
January–April 2026 total terminal passengers, down 6.0% year over year
Mexican airports traffic change
6.3% decrease
Total passenger traffic at 12 Mexican airports in April 2026 vs April 2025
Montego Bay traffic change
22.0% decrease
Total terminal passengers April 2026 vs April 2025, affected by Hurricane Melissa
Guadalajara traffic change
0.9% increase
Guadalajara airport total terminal passengers April 2026 vs April 2025
Seats available change
8.3% decrease
Seats available in April 2026 compared to April 2025
Load factor April 2025
80.8%
Systemwide load factor in April 2025
Load factor April 2026
81.5%
Systemwide load factor in April 2026, higher year over year
Key Terms
terminal passenger traffic, load factors, whistleblower program, Sarbanes-Oxley Act of 2002, +1 more
5 terms
terminal passenger traffic financial
"announces preliminary terminal passenger traffic figures for April 2026"
Terminal passenger traffic is the number of people who pass through an airport terminal during a set period, including those arriving, departing, and connecting. Investors watch it like foot traffic in a shopping center: higher passenger counts typically increase airlines’ ticket sales, airport fees and retail income, while changes in the trend signal shifts in travel demand, capacity pressure, or recovery from disruptions.
load factors financial
"The load factors for the month went from 80.8% in April 2025 to 81.5%"
Load factors measure how much of a company’s available capacity is actually being used, expressed as a percentage. Think of it like the share of seats filled on a bus or oven space in a bakery: higher load factor means more of the product or service is being sold relative to what could be offered. For investors, it signals operational efficiency and revenue potential—high load factors usually boost profit margins and lower per-unit costs, while low ones can warn of wasted capacity or weak demand.
whistleblower program regulatory
"GAP has implemented a “whistleblower” program, which allows complainants to anonymously"
A whistleblower program lets employees or outsiders confidentially report suspected fraud, legal violations, or unsafe practices to regulators or a company, often with protection from retaliation and sometimes monetary rewards. Think of it as an alarm button that brings hidden problems into the open. Investors care because such reports can trigger investigations, fines, lawsuits or corrective fixes that affect a company’s finances, reputation and stock value.
Sarbanes-Oxley Act of 2002 regulatory
"In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42"
concession agreement financial
"GAP entered into a concession agreement for the Norman Manley International Airport operation"
A concession agreement is a contract where a government or owner gives a company the right to operate, maintain, or exploit a public asset or service (like a road, port, or utility) for a set period in exchange for payments, investments, or sharing revenue. Think of it like renting and running a storefront on behalf of the property owner: the company collects income but must meet rules and invest in upkeep. For investors, these deals shape a firm’s long-term revenue, upfront costs, regulatory risk and cash-flow predictability.
FAQ
How did Grupo Aeroportuario del Pacífico (PAC) passenger traffic change in April 2026?
Grupo Aeroportuario del Pacífico’s total terminal passenger traffic fell 7.6% in April 2026 versus April 2025, reaching 5,113.4 thousand passengers. For January–April 2026, traffic declined 6.0% to 20,483.2 thousand, reflecting weaker volumes across several Mexican and Jamaican airports.
Which GAP airports saw the largest April 2026 traffic declines compared to 2025?
In April 2026, Puerto Vallarta’s total passengers dropped 17.0%, Tijuana fell 10.5%, Los Cabos declined 8.1%, and Montego Bay in Jamaica decreased 22.0%. These double-digit reductions highlight pressure in key tourist and cross-border markets within Grupo Aeroportuario del Pacífico’s network.
How were Grupo Aeroportuario del Pacífico’s Jamaican airports affected in April 2026?
GAP’s Jamaican airports experienced notable weakness in April 2026. Kingston’s total passengers fell 6.0%, while Montego Bay dropped 22.0%, with the company attributing Montego Bay’s decline to disruptions caused by Hurricane Melissa, impacting overall Caribbean traffic performance for the month.
What happened to GAP’s domestic and international passenger segments in April 2026?
Domestic terminal passengers across GAP airports decreased 5.0% year-over-year in April 2026 to 2,976.9 thousand, while international terminal passengers fell 10.8% to 2,136.5 thousand. The larger decline in international traffic reflects particular softness in leisure and cross-border routes during the month.
How did capacity and load factors evolve for Grupo Aeroportuario del Pacífico in April 2026?
Seats available in April 2026 decreased 8.3% compared with April 2025, yet the overall load factor rose from 80.8% to 81.5%. This indicates airlines operating at GAP airports flew fuller planes on reduced capacity, partially offsetting the impact of lower passenger volumes.
How did Tijuana’s CBX traffic trend for Grupo Aeroportuario del Pacífico in early 2026?
CBX users at Tijuana airport totaled 309.4 thousand in April 2026, down 10.3% from April 2025. For January–April 2026, CBX users were 1,195.7 thousand, an 11.0% decline year-over-year, reflecting softer cross-border passenger flows through this facility.