Grupo Aeroportuario del Pacifico Reports in August 2021 a Passenger Traffic Decrease of 2.0% Compared to 2019 (Increase of 101.7% Compared to 2020)

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (PAC) reported a 1.9% decline in terminal passenger traffic for August 2021 compared to the same month in 2019. Despite this, Tijuana, Los Cabos, and Puerto Vallarta saw increases of 13.8%, 8.9%, and 2.0%, respectively. In contrast, Guadalajara and Guanajuato experienced declines of 13.0% and 15.0%. Year-to-date comparisons showed a notable recovery, with domestic traffic rising 12.1% and international traffic increasing 25.4% compared to 2019 levels. The company has noted an increase in available seats by 49.8% from August 2020, with load factors climbing to 77.5%.

Positive

• Tijuana, Los Cabos, and Puerto Vallarta reported passenger traffic increases of 13.8%, 8.9%, and 2.0%, respectively.
• Year-to-date passenger traffic increased by 12.1% domestically compared to 2019.
• International terminal passenger traffic rose by 25.4% compared to 2019.
• A significant increase in available seats by 49.8% year-over-year.

Negative

• Overall terminal passenger traffic decreased by 1.9% compared to August 2019.
• Guadalajara and Guanajuato airports experienced declines of 13.0% and 15.0%, respectively.

GUADALAJARA, Mexico, Sept. 03, 2021 (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 the month of August 2021, which includes comparisons with the 2019 and 2020 figures to facilitate the reading and understanding of the passenger traffic trend.

For August 2021, the total number of terminal passengers at GAP’s 12 Mexican airports decreased by 1.9%, compared to the same period of 2019. Tijuana, Los Cabos and Puerto Vallarta presented an increase in passenger traffic of 13.8%, 8.9% and 2.0%, respectively, while the Guadalajara and Guanajuato airports presented a decrease of only 13.0% and 15.0%, respectively, which demonstrates a positive trend in our Mexican airports.

In relation to international travel restrictions, the United States requests that travelers must present a negative COVID-19 test for entry into that country; while Canadian Government announced, with a tentative date of September 7, international flights will be reopened for people who are fully vaccinated and who meet certain conditions.

Passenger traffic 2021 compared to 2019 figures

Domestic Terminal Passengers – 14 airports (in thousands):
Airport	Aug-19	Aug-21	% Change	Jan-Aug 19	Jan-Aug 21	% Change
Guadalajara	890.4	746.3	(16.2%)	6,929.5	5,278.0	(23.8%)
Tijuana*	527.8	636.1	20.5%	3,960.1	4,439.3	12.1%
Los Cabos	201.3	191.4	(4.9%)	1,304.1	1,274.0	(2.3%)
Puerto Vallarta	191.4	181.5	(5.2%)	1,226.9	1,151.3	(6.2%)
Montego Bay	0.8	0.0	(100.0%)	6.1	0.0	(100.0%)
Guanajuato	176.9	135.9	(23.2%)	1,355.5	960.2	(29.2%)
Hermosillo	148.7	128.5	(13.6%)	1,174.0	881.9	(24.9%)
Mexicali	101.1	98.6	(2.5%)	780.9	670.6	(14.1%)
Morelia	38.3	47.2	23.2%	306.1	354.0	15.6%
La Paz	95.8	81.1	(15.4%)	668.2	564.5	(15.5%)
Kingston	0.0	0.0	(100.0%)	0.0	0.8	(100.0%)
Aguascalientes	53.7	54.6	1.7%	414.9	356.5	(14.1%)
Los Mochis	31.5	30.9	(1.8%)	254.1	225.1	(11.4%)
Manzanillo	7.4	6.3	(15.1%)	64.3	55.6	(13.6%)
Total	2,465.2	2,338.6	(5.1%)	18,444.7	16,211.8	(12.1%)
International Terminal Passengers – 14 airports (in thousands):
Airport	Aug-19	Aug-21	% Change	Jan-Aug 19	Jan-Aug 21	% Change
Guadalajara	390.9	368.4	(5.8%)	2,916.7	2,325.8	(20.3%)
Tijuana*	244.3	242.3	(0.8%)	1,931.7	1,705.1	(11.7%)
Los Cabos	260.5	311.6	19.6%	2,596.0	2,226.6	(14.2%)
Puerto Vallarta	155.4	172.3	10.9%	2,321.3	1,341.4	(42.2%)
Montego Bay	400.7	293.4	(26.8%)	3,359.2	1,569.3	(53.3%)
Guanajuato	61.3	66.6	8.6%	480.6	396.1	(17.6%)
Hermosillo	5.5	10.0	81.3%	46.4	67.3	45.1%
Mexicali	0.6	0.6	15.8%	4.5	3.1	(31.2%)
Morelia	36.3	39.5	8.9%	284.3	259.3	(8.8%)
La Paz	0.9	2.0	113.3%	8.6	12.7	48.6%
Kingston	0.0	97.3	N/A	0.0	492.1	N/A
Aguascalientes	21.8	21.8	(0.2%)	145.7	134.4	(7.7%)
Los Mochis	0.6	1.1	74.9%	4.8	6.2	27.6%
Manzanillo	2.8	2.4	(14.6%)	58.8	28.1	(52.3%)
Total	1,581.8	1,629.3	3.0%	14,158.6	10,567.4	(25.4%)
Total Terminal Passengers – 14 airports (in thousands):
Airport	Aug-19	Aug-21	% Change	Jan-Aug 19	Jan-Aug 21	% Change
Guadalajara	1,281.3	1,114.7	(13.0%)	9,846.2	7,603.8	(22.8%)
Tijuana*	772.1	878.5	13.8%	5,891.8	6,144.3	4.3%
Los Cabos	461.9	503.0	8.9%	3,900.1	3,500.6	(10.2%)
Puerto Vallarta	346.8	353.9	2.0%	3,548.2	2,492.7	(29.7%)
Montego Bay	401.5	293.4	(26.9%)	3,365.3	1,569.3	(53.4%)
Guanajuato	238.2	202.6	(15.0%)	1,836.1	1,356.2	(26.1%)
Hermosillo	154.2	138.5	(10.2%)	1,220.3	949.1	(22.2%)
Mexicali	101.7	99.3	(2.4%)	785.3	673.7	(14.2%)
Morelia	74.6	86.7	16.2%	590.5	613.3	3.9%
La Paz	96.8	83.1	(14.2%)	676.8	577.3	(14.7%)
Kingston	0.0	97.3	N/A	0.0	492.9	N/A
Aguascalientes	75.5	76.4	1.1%	560.5	490.9	(12.4%)
Los Mochis	32.1	31.9	(0.4%)	258.9	231.2	(10.7%)
Manzanillo	10.3	8.7	(15.0%)	123.2	83.7	(32.1%)
Total	4,047.0	3,967.9	(2.0%)	32,603.2	26,779.1	(17.9%)
*Passengers in Tijuana who use CBX in both directions are classified as international.
CBX Users (in thousands):
Airport	Aug-19	Aug-21	% Change	Jan-Aug 19	Jan-Aug 21	% Change
Tijuana	240.3	237.3	(1.2%)	1,900.1	1,686.5	(11.2%)

The Company took control of the Kingston airport on October 10, 2019, therefore there are no comparative figures from January to August 2019.

Passenger traffic 2021 compared to 2020 figures

Domestic Terminal Passengers – 14 airports (in thousands):
Airport	Aug-20	Aug-21	% Change	Jan-Aug 20	Jan-Aug 21	% Change
Guadalajara	420.9	746.3	77.3%	3,501.3	5,278.0	50.7%
Tijuana*	420.4	636.1	51.3%	2,673.2	4,439.3	66.1%
Los Cabos	107.1	191.4	78.7%	669.5	1,274.0	90.3%
Puerto Vallarta	81.8	181.5	122.0%	547.3	1,151.3	110.4%
Montego Bay	0.0	0.0	N/A	1.0	0.0	(100.0%)
Guanajuato	80.7	135.9	68.5%	628.4	960.2	52.8%
Hermosillo	63.5	128.5	102.5%	568.3	881.9	55.2%
Mexicali	54.5	98.6	81.0%	420.8	670.6	59.4%
Morelia	32.0	47.2	47.3%	239.5	354.0	47.8%
La Paz	44.3	81.1	83.2%	328.9	564.5	71.6%
Kingston	0.0	0.0	230.0%	1.3	0.8	(38.9%)
Aguascalientes	29.5	54.6	85.2%	214.1	356.5	66.5%
Los Mochis	13.8	30.9	123.6%	118.6	225.1	89.8%
Manzanillo	2.8	6.3	127.3%	30.4	55.6	82.6%
Total	1,351.2	2,338.6	73.1%	9,942.5	16,211.8	63.1%
International Terminal Passengers – 14 airports (in thousands):
Airport	Aug-20	Aug-21	% Change	Jan-Aug 20	Jan-Aug 21	% Change
Guadalajara	182.6	368.4	101.8%	1,467.3	2,325.8	58.5%
Tijuana*	125.0	242.3	93.8%	1,067.2	1,705.1	59.8%
Los Cabos	98.0	311.6	217.9%	1,157.5	2,226.6	92.4%
Puerto Vallarta	37.9	172.3	354.9%	1,184.7	1,341.4	13.2%
Montego Bay	67.8	293.4	332.8%	1,276.2	1,569.3	23.0%
Guanajuato	24.6	66.6	171.0%	208.2	396.1	90.3%
Hermosillo	2.0	10.0	398.3%	25.7	67.3	161.8%
Mexicali	0.1	0.6	558.8%	1.5	3.1	108.4%
Morelia	19.9	39.5	98.5%	141.8	259.3	83.0%
La Paz	0.3	2.0	592.0%	4.5	12.7	185.5%
Kingston	47.8	97.3	103.7%	461.0	492.1	6.7%
Aguascalientes	8.9	21.8	144.5%	68.6	134.4	95.8%
Los Mochis	0.1	1.1	901.0%	1.5	6.2	304.2%
Manzanillo	1.0	2.4	131.1%	31.6	28.1	(11.2%)
Total	616.0	1,629.3	164.5%	7,097.1	10,567.4	48.9%
Total Terminal Passengers – 14 airports (in thousands):
Airport	Aug-20	Aug-21	% Change	Jan-Aug 20	Jan-Aug 21	% Change
Guadalajara	603.4	1,114.7	84.7%	4,968.6	7,603.8	53.0%
Tijuana*	545.4	878.5	61.1%	3,740.4	6,144.3	64.3%
Los Cabos	205.1	503.0	145.2%	1,827.0	3,500.6	91.6%
Puerto Vallarta	119.7	353.9	195.7%	1,731.9	2,492.7	43.9%
Montego Bay	67.8	293.4	332.8%	1,277.1	1,569.3	22.9%
Guanajuato	105.3	202.6	92.4%	836.6	1,356.2	62.1%
Hermosillo	65.5	138.5	111.5%	594.0	949.1	59.8%
Mexicali	54.6	99.3	81.9%	422.3	673.7	59.5%
Morelia	51.9	86.7	66.9%	381.2	613.3	60.9%
La Paz	44.6	83.1	86.5%	333.4	577.3	73.2%
Kingston	47.8	97.3	103.7%	462.3	492.9	6.6%
Aguascalientes	38.4	76.4	98.9%	282.7	490.9	73.6%
Los Mochis	13.9	31.9	129.5%	120.1	231.2	92.5%
Manzanillo	3.8	8.7	128.3%	62.1	83.7	34.8%
Total	1,967.1	3,967.9	101.7%	17,039.6	26,779.1	57.2%
*Passengers in Tijuana who use CBX in both directions are classified as international.
CBX Users (in thousands):
Airport	Aug-20	Aug-21	% Change	Jan-Aug 20	Jan-Aug 21	% Change
Tijuana	124.4	237.3	90.7%	1,058.8	1,686.5	59.3%

The number of seats available during August 2021 increased by 49.8% compared to August 2020; load factors for the month went from 57.4% in August 2020 to 77.5% in August 2021.

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 operation of the Norman Manley International Airport 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 actually 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 June involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

IR Contacts:

Saúl Villarreal, Chief Financial Officer	svillarreal@aeropuertosgap.com.mx
Alejandra Soto, IRO and Corporate Finance Director	asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations	gmurillo@aeropuertosgap.com.mx / +52-33-3880-1100 ext.20294

FAQ

What is the passenger traffic trend for PAC in August 2021?

PAC reported a 1.9% decrease in terminal passenger traffic compared to August 2019, despite some airports showing increases.

How did the passenger traffic for PAC compare to August 2020?

Compared to August 2020, PAC saw a 73.1% increase in domestic terminal passengers.

What were the international passenger numbers for PAC in August 2021?

PAC recorded a 3.0% increase in international terminal passengers in August 2021 compared to August 2019.

How has the load factor changed for PAC from August 2020 to August 2021?

The load factor increased from 57.4% in August 2020 to 77.5% in August 2021.

What is the outlook for PAC in terms of airport traffic recovery?

Despite a slight decline in overall passenger traffic, there are positive signs with significant increases in specific airport traffic and year-to-date recovery.