Grupo Aeroportuario del Pacífico (GPAEF) posts 8.9% March traffic decline

Rhea-AI Filing Summary

Grupo Aeroportuario del Pacífico reports that total terminal passenger traffic for March 2026 fell 8.9% year over year to 5.237 million passengers. The 12 Mexican airports saw a 7.6% decline, with Puerto Vallarta, Tijuana, Los Cabos and Guadalajara down 24.4%, 8.7%, 6.9% and 2.3%, respectively.

In Jamaica, Kingston traffic rose 1.0%, while Montego Bay dropped 25.7%, impacted by disruptions from Hurricane Melissa. For the first quarter of 2026, total passengers across all airports decreased 5.5% to 15.367 million. Available seats declined 4.5% and the system-wide load factor fell from 81.5% to 75.5%.

Insights

Infrastructure & transport analyst

March traffic down 8.9%, hurt by Montego Bay and softer load factors.

Grupo Aeroportuario del Pacífico shows a broad traffic slowdown in March 2026, with total passengers down 8.9% and Q1 2026 volumes lower by 5.5% versus 2025. The weakness is concentrated in international traffic, which fell 14.6% in March, compared with a 3.8% drop in domestic volumes.

Puerto Vallarta and Montego Bay stand out with steep March declines of 24.4% and 25.7%, respectively, the latter explicitly linked to Hurricane Melissa disruptions. System-wide load factors slid from 81.5% to 75.5% despite seats decreasing 4.5%, indicating demand softened more than capacity.

The company continues to add new routes, including Guadalajara–Mazatlán and several U.S. links from Puerto Vallarta and Los Cabos. Future disclosures in regular traffic reports will clarify whether these March and Q1 declines are transitory weather‑driven effects or signal a more persistent shift in demand patterns.

Key Figures

March total passengers: 5,237.0 thousand Mexican airports traffic: 7.6% decrease Montego Bay traffic change: 25.7% decrease +5 more

8 metrics

March total passengers 5,237.0 thousand March 2026 total terminal passengers, down 8.9% YoY

Mexican airports traffic 7.6% decrease Total passenger traffic at 12 Mexican airports, March 2026 vs March 2025

Montego Bay traffic change 25.7% decrease March 2026 vs March 2025, impacted by Hurricane Melissa

Puerto Vallarta traffic change 24.4% decrease Total terminal passengers, March 2026 vs March 2025

Q1 total passengers 15,367.2 thousand Jan–Mar 2026 total passengers vs 16,269.3 thousand in 2025, down 5.5%

Load factor change 81.5% to 75.5% System-wide load factors, March 2025 vs March 2026

Seat capacity change 4.5% decrease Seats available March 2026 vs March 2025

International traffic change 14.6% decrease International terminal passengers, March 2026 vs March 2025

Key Terms

terminal passenger traffic, load factors, whistleblower program, Form 6-K, +2 more

6 terms

terminal passenger traffic financial

"announces preliminary terminal passenger traffic figures for March 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 81.5% in March 2025 to 75.5% in March 2026"

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 and confidentially report"

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.

Form 6-K regulatory

"Form 6-K REPORT OF FOREIGN PRIVATE ISSUER"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

Sarbanes-Oxley Act of 2002 regulatory

"In accordance with Section 806 of the Sarbanes-Oxley Act of 2002"

concession agreement financial

"entered into a concession agreement for the Norman Manley International Airport operation in Kingston"

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.

Form 6-K: How Foreign Companies Report to the SEC →

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 April 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 Reports a Passenger Traffic Decrease in March 2026 of 8.9% Compared to 2025

GUADALAJARA, Mexico, April 07, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces preliminary terminal passenger traffic figures for March 2026, compared with March 2025.

During March 2026, the 12 Mexican airports operated by GAP recorded a 7.6% decrease in total passenger traffic compared to March 2025. Puerto Vallarta, Tijuana, Los Cabos, and Guadalajara reported a decrease of 24.4%, 8.7%, 6.9%, and 2.3%, respectively, compared to March 2025. With respect to GAP’s airports in Jamaica, Kingston recorded an increase of 1.0%, while Montego Bay recorded a decrease of 25.7%, as a result of disruptions caused by Hurricane Melissa.

Domestic Terminal Passengers (in thousands):
Airport	Mar-25	Mar-26	% Change		Jan - Mar 25	Jan - Mar 26	% Change
Guadalajara	1,088.8	1,063.1	(2.4	%)	3,021.1	3,035.6	0.5	%
Tijuana*	724.0	685.4	(5.3	%)	2,057.5	1,968.5	(4.3	%)
Los Cabos	238.9	223.5	(6.4	%)	668.9	628.3	(6.1	%)
Puerto Vallarta	231.5	215.8	(6.8	%)	653.6	644.8	(1.4	%)
Montego Bay	0.0	0.0	N/A		0.0	0.0	N/A
Guanajuato	180.3	178.6	(0.9	%)	515.5	510.8	(0.9	%)
Hermosillo	188.8	175.8	(6.9	%)	508.7	480.6	(5.5	%)
Kingston	0.0	0.0	100.0	%	0.1	0.7	821.1	%
Morelia	63.5	60.6	(4.7	%)	186.1	192.8	3.6	%
La Paz	98.5	119.1	20.8	%	280.6	313.8	11.8	%
Mexicali	104.1	86.8	(16.6	%)	293.1	257.7	(12.1	%)
Aguascalientes	53.7	47.9	(10.7	%)	151.8	138.9	(8.5	%)
Los Mochis	56.4	56.2	(0.4	%)	165.0	163.3	(1.1	%)
Manzanillo	11.9	11.0	(7.7	%)	34.8	32.7	(5.9	%)
Total	3,040.6	2,923.9	(3.8	%)	8,536.9	8,368.5	(2.0	%)
International Terminal Passengers (in thousands):
Airport	Mar-25	Mar-26	% Change		Jan - Mar 25	Jan - Mar 26	% Change
Guadalajara	476.1	465.3	(2.3	%)	1,507.0	1,492.1	(1.0	%)
Tijuana*	344.7	290.0	(15.9	%)	1,014.9	897.6	(11.6	%)
Los Cabos	545.8	507.0	(7.1	%)	1,382.9	1,372.7	(0.7	%)
Puerto Vallarta	531.4	360.8	(32.1	%)	1,472.5	1,278.9	(13.1	%)
Montego Bay	482.6	358.4	(25.7	%)	1,338.9	917.4	(31.5	%)
Guanajuato	83.2	76.6	(8.0	%)	263.1	257.8	(2.0	%)
Hermosillo	6.6	6.9	5.1	%	20.9	22.0	4.9	%
Kingston	139.2	140.6	1.0	%	428.0	414.8	(3.1	%)
Morelia	55.1	66.3	20.4	%	174.2	215.6	23.7	%
La Paz	3.2	4.5	40.1	%	8.7	12.6	44.5	%
Mexicali	0.6	0.6	5.3	%	1.8	1.8	3.2	%
Aguascalientes	23.4	24.1	3.2	%	73.7	77.3	4.9	%
Los Mochis	0.6	0.7	9.8	%	1.9	1.8	(3.1	%)
Manzanillo	14.8	11.4	(23.3	%)	43.9	36.3	(17.4	%)
Total	2,707.2	2,313.1	(14.6	%)	7,732.5	6,998.7	(9.5	%)
Total Terminal Passengers (in thousands):
Airport	Mar-25	Mar-26	% Change		Jan - Mar 25	Jan - Mar 26	% Change
Guadalajara	1,564.9	1,528.4	(2.3	%)	4,528.2	4,527.8	(0	%)
Tijuana*	1,068.8	975.4	(8.7	%)	3,072.3	2,866.1	(7	%)
Los Cabos	784.6	730.5	(6.9	%)	2,051.8	2,001.0	(2	%)
Puerto Vallarta	762.9	576.6	(24.4	%)	2,126.1	1,923.7	(10	%)
Montego Bay	482.6	358.4	(25.7	%)	1,338.9	917.4	(31	%)
Guanajuato	263.6	255.2	(3.2	%)	778.6	768.7	(1	%)
Hermosillo	195.4	182.7	(6.5	%)	529.6	502.5	(5	%)
Kingston	139.2	140.6	1.0	%	428.1	415.5	(3	%)
Morelia	118.6	126.9	6.9	%	360.3	408.3	13	%
La Paz	101.8	123.6	21.4	%	289.3	326.4	13	%
Mexicali	104.7	87.4	(16.5	%)	294.9	259.6	(12.0	%)
Aguascalientes	77.1	72.1	(6.5	%)	225.5	216.2	(4	%)
Los Mochis	57.1	56.9	(0.2	%)	166.9	165.1	(1	%)
Manzanillo	26.7	22.4	(16.3	%)	78.7	69.0	(12	%)
Total	5,747.8	5,237.0	(8.9	%)	16,269.3	15,367.2	(5.5	%)
*Passengers in Tijuana who use CBX in both directions are classified as international.
CBX users (in thousands):
Airport	Mar-25	Mar-26	% Change		Jan - Mar 25	Jan - Mar 26	% Change
Tijuana	339.1	286.4	(15.5	%)	998.2	886.3	(11.2	%)

Highlights for the month:

• Seats and load factors
  The seats available during March 2026 decreased by 4.5%, compared to March 2025. The load factors for the month went from 81.5% in March 2025 to 75.5% in March 2026.

• New routes
  • Guadalajara – Mazatlan: Volaris
  • Morelia – Santa Lucia: Aerus
  • Morelia – Uruapan: Aerus
  • Puerto Vallarta – San Diego: Southwest
  • Puerto Vallarta – St. Louis, Missouri: Southwest
  • Los Cabos – Indianapolis: Southwest
  • Montego Bay – Nashville: Southwest
    
    

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 Officer		asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations		gmurillo@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: April 7, 2026		/s/ SAÚL VILLARREAL GARCÍA
		Saúl Villarreal García
		Chief Financial Officer

FAQ

How much did Grupo Aeroportuario del Pacífico (GPAEF) passenger traffic change in March 2026?

Total terminal passenger traffic at Grupo Aeroportuario del Pacífico fell 8.9% in March 2026 versus March 2025, to 5.237 million passengers. The company’s 12 Mexican airports recorded a 7.6% decline, while overall first-quarter 2026 traffic decreased 5.5% year over year.

How did GAP’s Mexican airports perform in March 2026?

GAP’s 12 Mexican airports posted a 7.6% drop in total passenger traffic in March 2026 compared with March 2025. Puerto Vallarta, Tijuana, Los Cabos and Guadalajara declined 24.4%, 8.7%, 6.9% and 2.3%, respectively, illustrating particular weakness at key tourist destinations.

What impacted Grupo Aeroportuario del Pacífico’s Jamaica airports in March 2026?

In Jamaica, Kingston recorded a modest 1.0% passenger increase in March 2026, while Montego Bay saw a sharp 25.7% decline. The company attributes Montego Bay’s drop to disruptions caused by Hurricane Melissa, which affected travel demand and operations.

How did domestic and international traffic trend for GAP in March 2026?

Domestic terminal passengers declined 3.8% year over year in March 2026 to 2.924 million, while international traffic dropped a steeper 14.6% to 2.313 million. This shows the overall 8.9% decrease was driven more by weaker international demand.

What happened to GAP’s load factors and capacity in March 2026?

Available seats in March 2026 decreased by 4.5% compared to March 2025, yet load factors fell from 81.5% to 75.5%. This indicates demand softened more than capacity, pressuring occupancy across GAP’s network despite some route growth.

Which new routes did Grupo Aeroportuario del Pacífico add recently?

GAP introduced several new routes, including Guadalajara–Mazatlán (Volaris), Morelia–Santa Lucía and Morelia–Uruapan (Aerus), plus new Southwest flights from Puerto Vallarta to San Diego and St. Louis, and from Los Cabos and Montego Bay to U.S. cities.