Grupo Aeroportuario del Pacifico Reports in November 2023 a Passenger Traffic Increase of 0.7% Compared to 2022

Rhea-AI Summary

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) announces a 0.4% increase in total terminal passengers at its 12 Mexican airports for November 2023 compared to the same period in 2022. Los Cabos and Puerto Vallarta experienced a growth in passenger traffic of 4.3% and 3.7%, respectively, while Montego Bay saw a 7.3% increase. The domestic terminal saw a 0.1% increase, and the international terminal saw a 1.6% increase in passenger traffic for the same period.

Positive

• The company experienced an overall increase in passenger traffic for November 2023, indicating growth in its airport operations and potential revenue increase.

Negative

• The decrease in the number of seats available in November 2023 due to the preventive revision to the Pratt & Whitney engines may impact the company's revenue from airline operations.

GUADALAJARA, Mexico, Dec. 05, 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 November 2023, compared with the same period of 2022.

For November 2023, the total number of terminal passengers at GAP’s 12 Mexican airports increased by 0.4%, compared to the same period in 2022. Los Cabos and Puerto Vallarta presented an increase in passenger traffic of 4.3% and 3.7%, respectively, compared to November 2022. On the other hand, Montego Bay presented an increase in passenger traffic of 7.3% compared to the same period of 2022.

Domestic Terminal Passengers (in thousands):
	Airport	Nov-22	Nov-23	% Change	Jan - Nov 22	Jan - Nov 23	% Change
	Guadalajara	1,024.5	1,015.2	(0.9%)	10,049.9	11,472.4	14.2%
	Tijuana*	726.4	672.0	(7.5%)	7,383.3	8,158.8	10.5%
	Los Cabos	228.3	240.6	5.4%	2,329.5	2,712.8	16.5%
	Puerto Vallarta	228.2	220.0	(3.6%)	2,403.5	2,629.4	9.4%
	Montego Bay	0.0	0.1	N/A	0.0	0.1	N/A
	Guanajuato	174.0	203.8	17.1%	1,638.7	2,154.7	31.5%
	Hermosillo	176.6	186.8	5.8%	1,690.8	1,930.9	14.2%
	Kingston	0.3	0.2	(23.5%)	1.4	1.6	20.0%
	Mexicali	119.7	136.4	14.0%	1,158.0	1,449.6	25.2%
	Morelia	65.4	58.2	(11.0%)	599.1	729.2	21.7%
	La Paz	89.7	94.3	5.1%	962.6	996.9	3.6%
	Aguascalientes	55.3	54.0	(2.2%)	635.1	586.9	(7.6%)
	Los Mochis	38.2	44.0	15.0%	382.0	420.0	9.9%
	Manzanillo	8.3	11.9	43.1%	89.6	101.0	12.7%
	Total	2,934.9	2,937.6	0.1%	29,323.6	33,344.3	13.7%
	International Terminal Passengers (in thousands):
	Airport	Nov-22	Nov-23	% Change	Jan - Nov 22	Jan - Nov 23	% Change
	Guadalajara	409.3	413.8	1.1%	4,013.0	4,675.7	16.5%
	Tijuana*	392.2	348.9	(11.0%)	3,789.9	3,928.9	3.7%
	Los Cabos	369.9	383.1	3.6%	4,002.4	4,301.7	7.5%
	Puerto Vallarta	341.8	371.4	8.6%	3,135.3	3,460.2	10.4%
	Montego Bay	376.1	403.6	7.3%	3,918.9	4,716.7	20.4%
	Guanajuato	67.4	74.0	9.8%	700.3	791.7	13.1%
	Hermosillo	6.3	6.9	9.7%	71.4	68.2	(4.4%)
	Kingston	131.3	122.8	(6.5%)	1,401.0	1,590.4	13.5%
	Mexicali	0.6	0.6	(7.7%)	5.8	6.4	10.2%
	Morelia	45.9	48.4	5.3%	450.9	538.5	19.4%
	La Paz	2.9	1.5	(49.7%)	23.4	12.8	(45.5%)
	Aguascalientes	21.1	23.5	11.2%	212.2	262.6	23.8%
	Los Mochis	0.5	0.5	(12.7%)	6.9	6.2	(9.4%)
	Manzanillo	5.0	6.2	24.3%	60.2	57.5	(4.6%)
	Total	2,170.5	2,204.9	1.6%	21,791.5	24,417.6	12.1%
	Total Terminal Passengers (in thousands):
	Airport	Nov-22	Nov-23	% Change	Jan - Nov 22	Jan - Nov 23	% Change
	Guadalajara	1,433.8	1,429.0	(0.3%)	14,062.9	16,148.2	14.8%
	Tijuana*	1,118.6	1,020.9	(8.7%)	11,173.2	12,087.6	8.2%
	Los Cabos	598.2	623.7	4.3%	6,331.9	7,014.6	10.8%
	Puerto Vallarta	570.1	591.4	3.7%	5,538.8	6,089.6	9.9%
	Montego Bay	376.1	403.6	7.3%	3,918.9	4,716.8	20.4%
	Guanajuato	241.4	277.8	15.1%	2,339.0	2,946.4	26.0%
	Hermosillo	182.9	193.7	5.9%	1,762.2	1,999.1	13.4%
	Kingston	131.7	123.0	(6.6%)	1,402.3	1,592.0	13.5%
	Mexicali	120.3	136.9	13.8%	1,163.8	1,456.0	25.1%
	Morelia	111.3	106.6	(4.3%)	1,049.9	1,267.8	20.7%
	La Paz	92.6	95.8	3.4%	986.1	1,009.6	2.4%
	Aguascalientes	76.4	77.5	1.5%	847.3	849.5	0.3%
	Los Mochis	38.8	44.5	14.6%	388.9	426.3	9.6%
	Manzanillo	13.3	18.2	36.0%	149.9	158.5	5.8%
	Total	5,105.4	5,142.5	0.7%	51,115.1	57,761.9	13.0%
	*Passengers in Tijuana who use CBX in both directions are classified as international.
	CBX users (in thousands):
	Airport	Nov-22	Nov-23	% Change	Jan - Nov 22	Jan - Nov 23	% Change
	Tijuana	388.4	346.3	(10.8%)	3,758.4	3,896.5	3.7%

Highlights for the month:

• Seats and load factors: The number of seats available during November 2023 decreased by 2.5%, compared to November 2022, due to the preventive revision to the Pratt & Whitney engines of the A320neo and A321neo fleet. The load factors for the month went from 80.2% in November 2022 to 82.8% in November 2023.
  
• New routes:
  
  
  • Puerto Vallarta – Calgary: Flair
  • Los Cabos – Victoria: WestJet
  • Montego Bay – Denver: United

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 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 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

 

FAQ

What is the total increase in terminal passengers at Grupo Aeroportuario del Pacífico, S.A.B. de C.V. airports for November 2023?

The total terminal passengers at GAP's 12 Mexican airports increased by 0.4% in November 2023 compared to the same period in 2022.

Which airports experienced the highest growth in passenger traffic for November 2023?

Los Cabos and Puerto Vallarta experienced a growth in passenger traffic of 4.3% and 3.7%, respectively, while Montego Bay saw a 7.3% increase.

What is the ticker symbol for Grupo Aeroportuario del Pacífico, S.A.B. de C.V. on the New York Stock Exchange?

The ticker symbol for Grupo Aeroportuario del Pacífico, S.A.B. de C.V. on the New York Stock Exchange is 'PAC'.

What was the reason for the decrease in the number of seats available in November 2023?

The decrease in the number of seats available in November 2023 was due to the preventive revision to the Pratt & Whitney engines of the A320neo and A321neo fleet.