Grupo Aeroportuario del Pacifico Reports in February 2023 a Passenger Traffic Increase of 24.3% Compared to 2022

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (PAC) reported a 21.8% increase in terminal passenger traffic for February 2023 compared to February 2022. Notable growth was observed at major airports: Puerto Vallarta saw a 31.9% rise, Guadalajara 26.0%, Los Cabos 24.5%, and Tijuana 12.5%. International traffic increased by 29.5%, with Montego Bay leading at 49.5%. The total number of passengers reached 4.72 million for February, marking a 24.3% annual increase. The number of available seats also rose by 18.6%, improving load factors from 70.8% to 77.9%.

Positive

• 21.8% increase in total terminal passengers in February 2023 compared to February 2022.
• Significant growth in key airports: Puerto Vallarta +31.9%, Guadalajara +26.0%, Los Cabos +24.5%, Tijuana +12.5%.
• 29.5% increase in international terminal passengers, with Montego Bay up 49.5%.
• Total passenger count reached 4.72 million in February, reflecting a 24.3% increase.
• Available seats grew by 18.6%, resulting in improved load factors from 70.8% to 77.9%.

Negative

• None.

GUADALAJARA, Mexico, March 03, 2023 (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 February 2023, compared with the same period of 2022.

For February 2023, the total number of terminal passengers at GAP’s 12 Mexican airports increased by 21.8%, compared to the same period of 2022. Puerto Vallarta, Guadalajara, Los Cabos, and Tijuana presented an increase in passenger traffic of 31.9%, 26.0%, 24.5%, and 12.5% respectively, compared to February 2022. On the other hand, Montego Bay increase by 49.5% and Kingston 43.0%, compared to 2022.

Domestic Terminal Passengers (in thousands):
Airport	Feb-22	Feb-23	% Change	Jan - Feb 22	Jan - Feb 23	% Change
Guadalajara	735.3	913.7	24.3%	1,472.8	1,904.8	29.3%
Tijuana*	562.5	636.1	13.1%	1,155.3	1,349.7	16.8%
Los Cabos	157.0	204.3	30.1%	327.5	434.1	32.5%
Puerto Vallarta	144.8	183.5	26.8%	306.9	409.6	33.5%
Montego Bay	0.0	0.0	N/A	0.0	0.0	N/A
Guanajuato	114.8	151.3	31.8%	243.2	331.7	36.4%
Hermosillo	110.2	142.2	29.0%	232.7	299.6	28.7%
Kingston	0.0	0.1	22.4%	0.1	0.1	(7.1%)
Mexicali	88.7	102.5	15.5%	188.2	225.9	20.0%
Morelia	46.6	55.8	19.9%	98.0	123.1	25.6%
La Paz	72.3	68.9	(4.7%)	147.0	146.7	(0.2%)
Aguascalientes	46.3	44.9	(3.0%)	96.6	99.3	2.8%
Los Mochis	29.7	29.9	0.7%	60.6	62.1	2.5%
Manzanillo	7.8	8.5	9.5%	15.6	17.7	13.4%
Total	2,115.9	2,541.6	20.1%	4,344.6	5,404.2	24.4%

International Terminal Passengers (in thousands):
Airport	Feb-22	Feb-23	% Change	Jan - Feb 22	Jan - Feb 23	% Change
Guadalajara	276.4	361.3	30.7%	638.1	818.2	28.2%
Tijuana*	274.4	305.7	11.4%	603.0	699.1	15.9%
Los Cabos	342.2	417.3	21.9%	660.9	868.6	31.4%
Puerto Vallarta	321.3	431.1	34.2%	628.0	892.1	42.0%
Montego Bay	274.7	410.7	49.5%	542.3	859.6	58.5%
Guanajuato	49.6	59.7	20.5%	117.3	137.6	17.3%
Hermosillo	5.5	5.7	3.7%	12.2	12.3	0.5%
Kingston	78.4	112.0	43.0%	169.8	258.0	52.0%
Mexicali	0.4	0.4	19.0%	0.7	0.9	33.4%
Morelia	34.7	45.3	30.5%	79.0	102.1	29.2%
La Paz	2.3	1.1	(54.0%)	4.7	2.2	(52.0%)
Aguascalientes	13.7	17.0	24.7%	32.5	40.0	23.2%
Los Mochis	0.5	0.5	6.7%	1.1	1.1	3.4%
Manzanillo	8.2	10.4	26.6%	17.0	19.8	16.8%
Total	1,682.0	2,178.2	29.5%	3,506.6	4,711.6	34.4%

Total Terminal Passengers (in thousands):
Airport	Feb-22	Feb-23	% Change	Jan - Feb 22	Jan - Feb 23	% Change
Guadalajara	1,011.7	1,275.0	26.0%	2,110.9	2,722.9	29.0%
Tijuana*	836.9	941.8	12.5%	1,758.3	2,048.8	16.5%
Los Cabos	499.2	621.5	24.5%	988.4	1,302.7	31.8%
Puerto Vallarta	466.0	614.6	31.9%	935.0	1,301.7	39.2%
Montego Bay	274.7	410.7	49.5%	542.3	859.6	58.5%
Guanajuato	164.3	211.0	28.4%	360.6	469.3	30.1%
Hermosillo	115.7	147.9	27.8%	244.9	311.8	27.3%
Kingston	78.4	112.1	43.0%	169.9	258.1	51.9%
Mexicali	89.1	102.9	15.6%	188.9	226.8	20.1%
Morelia	81.2	101.1	24.4%	177.0	225.2	27.2%
La Paz	74.6	70.0	(6.2%)	151.7	148.9	(1.8%)
Aguascalientes	59.9	61.9	3.3%	129.0	139.3	7.9%
Los Mochis	30.1	30.4	0.8%	61.7	63.2	2.6%
Manzanillo	16.0	18.9	18.3%	32.5	37.5	15.2%
Total	3,797.9	4,719.8	24.3%	7,851.1	10,115.9	28.8%

*Passengers in Tijuana who use CBX in both directions are classified as international.

CBX users (in thousands):
Airport	Feb-22	Feb-23	% Change	Jan - Feb 22	Jan - Feb 23	% Change
Tijuana	272.7	303.1	11.1%	599.7	694.1	15.7%

Highlights for the month:

• Seats and load factors: The number of seats available during February 2023 increased by 18.6%, compared to February 2022; load factors for the month went from 70.8% in February 2022 to 77.9% in February 2023.
  
  
• New routes:
  
  
  • Montego Bay – St. Louis: Frontier
  • Montego Bay – Denver: Frontier
  • Montego Bay – Chicago Midway: Frontier

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 was the passenger traffic growth for Grupo Aeroportuario del Pacífico in February 2023?

Grupo Aeroportuario del Pacífico reported a 21.8% increase in passenger traffic for February 2023 compared to February 2022.

Which airports contributed most to the passenger traffic growth in February 2023 for PAC?

The airports with significant passenger traffic growth were Puerto Vallarta (+31.9%), Guadalajara (+26.0%), Los Cabos (+24.5%), and Tijuana (+12.5%).

How did international passenger traffic change for PAC in February 2023?

International passenger traffic for Grupo Aeroportuario del Pacífico increased by 29.5% in February 2023.

What was the total number of passengers for PAC in February 2023?

The total number of passengers for Grupo Aeroportuario del Pacífico in February 2023 reached 4.72 million.

What improvements were noted in seat availability and load factors for PAC in February 2023?

Available seats increased by 18.6%, resulting in improved load factors from 70.8% in February 2022 to 77.9% in February 2023.