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Grupo Aeroportuario del Pacífico (PAC) starts FIBRA GAP process to fund Ps. 40B plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Grupo Aeroportuario del Pacífico reported that it has begun the process for the potential creation of an irrevocable trust called FIBRA GAP, which would subscribe a minority equity interest in the 12 Mexican airport concessionaires it operates. Through the initial issuance of FIBRA GAP, these airports aim to obtain funds to help execute the 2026–2029 Master Development Program, which contemplates investments of approximately Ps. 40.0 billion. The program is expected to expand airport infrastructure with an estimated 60% increase in terminals, 35% more inspection points and access areas, 25% more aircraft parking positions, and 10% additional airside infrastructure. The FIBRA GAP investment would provide an additional funding source for airport infrastructure alongside GAP’s existing debt securities program used since 2015.

Positive

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Insights

GAP starts a FIBRA process to help fund a large 2026–2029 expansion.

Grupo Aeroportuario del Pacífico has initiated steps toward a potential FIBRA GAP structure, an irrevocable trust issuing Energy and Infrastructure Investment Trust Certificates. This vehicle would take a minority equity interest in 12 Mexican airport concessionaires operated by the company.

The initial FIBRA GAP issuance is tied to a Master Development Program for 2026–2029 that contemplates about Ps. 40.0 billion in investments. Planned infrastructure growth includes roughly 60% more terminals and 25% more aircraft parking positions, indicating a sizeable expansion of capacity.

The filing states that FIBRA GAP would complement an existing debt securities program the company has used since 2015, diversifying funding sources for airport infrastructure. Actual impact will depend on final FIBRA terms, investor demand, and execution of the development program as outlined.

Planned investment Ps. 40.0 billion Master Development Program for 2026–2029
Terminal capacity increase 60% Planned growth in terminals under 2026–2029 program
Inspection/access areas increase 35% Planned growth in inspection points and access areas
Aircraft parking positions increase 25% Planned growth in aircraft parking positions
Airside infrastructure increase 10% Planned growth in airside infrastructure
Number of Mexican airport concessionaires 12 Minority equity interest targeted by FIBRA GAP
Year debt program started 2015 Start of GAP’s debt securities issuances program
Energy and Infrastructure Investment Trust Certificates financial
"Irrevocable Trust for the Issuance of Energy and Infrastructure Investment Trust Certificates (“FIBRA GAP”)"
FIBRA GAP financial
"potential establishment of an Irrevocable Trust for the Issuance of Energy and Infrastructure Investment Trust Certificates (“FIBRA GAP”)"
Master Development Program financial
"Master Development Program for the 2026–2029 period, which contemplates investments of approximately Ps. 40.0 billion"
airport concessionaires financial
"subscribing a minority equity interest in the 12 Mexican airport concessionaires operated by GAP"
whistleblower program regulatory
"GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities"
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.
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE
ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File Number: 001-32751

GRUPO AEROPORTUARIO DEL PACÍFICO S.A.B. DE C.V.
(PACIFIC AIRPORT GROUP)

(Translation of registrant's name into English)

México
(Jurisdiction of incorporation or organization)

Avenida Mariano Otero No. 1249-B
Torre Pacifico, Piso 6
Col. Rinconada del Bosque
44530 Guadalajara, Jalisco, México
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ]      Form 40-F [   ]


Grupo Aeroportuario del Pacifico Announces Initiation of the Process to Establish a FIBRA

GUADALAJARA, Mexico, May 09, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announces that it has initiated the process for the potential establishment of an Irrevocable Trust for the Issuance of Energy and Infrastructure Investment Trust Certificates (“FIBRA GAP”), with the objective of subscribing a minority equity interest in the 12 Mexican airport concessionaires operated by GAP.

Through the initial issuance of FIBRA GAP, each of the 12 airports intends to obtain funds to complement the execution of the Master Development Program for the 2026–2029 period, which contemplates investments of approximately Ps. 40.0 billion.

The Master Development Program will generate significant growth in airport infrastructure, including an approximate increase of 60% in terminals, 35% in inspection points and access areas, 25% in aircraft parking positions, and 10% in airside infrastructure.

These investments will contribute to economic development in the areas surrounding the airports through the generation of direct and indirect employment, as well as a multiplier effect on investment.

The investment made by FIBRA GAP in the airports will represent an additional source of funds to invest in airport infrastructure, complementing the debt securities issuances under the program that GAP has utilized since 2015.

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
 

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at denuncia@lineadedenunciagap.com. GAP’s Audit Committee will be notified of all complaints for immediate investigation.


Alejandra Soto Investor Relations and Social Responsibility Officerasoto@aeropuertosgap.com.mx
  
Gisela Murillo, Investor Relationsgmurillo@aeropuertosgap.com.mx
+52 33 3880 1100 ext. 20294


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

      Grupo Aeroportuario del Pacífico, S.A.B. de C.V.    
  (Registrant)
   
  
Date: May 9, 2026     /s/ SAÚL VILLARREAL GARCÍA    
  Saúl Villarreal García
  Chief Financial Officer
  

FAQ

What did Grupo Aeroportuario del Pacífico (PAC) announce in this Form 6-K?

Grupo Aeroportuario del Pacífico announced it has initiated the process for a potential irrevocable trust, called FIBRA GAP, to issue Energy and Infrastructure Investment Trust Certificates and take a minority equity interest in its 12 Mexican airport concessionaires, supporting future infrastructure investment needs.

What is the purpose of the proposed FIBRA GAP for Grupo Aeroportuario del Pacífico (PAC)?

The proposed FIBRA GAP is intended to provide funds to the 12 Mexican airports operated by GAP, helping finance their Master Development Program for 2026–2029. It would serve as an additional capital source alongside GAP’s existing debt securities issuances used for infrastructure investment since 2015.

How much investment does Grupo Aeroportuario del Pacífico (PAC) plan for 2026–2029?

The Master Development Program for 2026–2029 contemplates investments of approximately Ps. 40.0 billion. These funds are planned to significantly expand airport infrastructure across GAP’s 12 Mexican airports, with increases in terminals, inspection points, aircraft parking positions, and airside infrastructure capacity.

What infrastructure growth does Grupo Aeroportuario del Pacífico (PAC) expect from its Master Development Program?

The Master Development Program anticipates about a 60% increase in terminals, 35% more inspection points and access areas, 25% more aircraft parking positions, and 10% additional airside infrastructure. These upgrades aim to boost capacity and support economic development around GAP’s airports in Mexico.

How will FIBRA GAP complement Grupo Aeroportuario del Pacífico’s (PAC) current financing?

FIBRA GAP is described as an additional source of funds for airport infrastructure. It would complement the debt securities program GAP has used since 2015, broadening the company’s financing toolkit for large-scale airport investments under the 2026–2029 Master Development Program.

Which airports are covered by Grupo Aeroportuario del Pacífico’s (PAC) planned FIBRA GAP structure?

The proposed FIBRA GAP would subscribe a minority equity interest in the 12 Mexican airport concessionaires operated by GAP, encompassing major cities like Guadalajara and Tijuana, tourist destinations such as Puerto Vallarta and Los Cabos, and several additional mid-sized Mexican cities under its network.