Grupo Aeroportuario del Pacifico Reports Passenger Traffic Decrease of 52.7% for the Month of February

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (PAC) reported a 52.7% decline in terminal passenger traffic for February 2021 compared to February 2020. Domestic traffic fell 38.0%, while international traffic plummeted 69.0%. Key airports like Guadalajara and Tijuana saw significant drops in passenger numbers. Despite a 13.2% decrease in available seats, load factors fell to 48.3%. The decline in international traffic was attributed to new entry requirements to the U.S. and Canada. Domestic traffic shows signs of recovery as airlines increase operations.

Positive

• Domestic passenger traffic is gradually recovering as airlines increase operations.

Negative

• Total passenger traffic decreased by 52.7% in February 2021 compared to February 2020.
• International passenger traffic dropped 69.0%, largely due to new entry requirements and flight suspensions.
• Load factors decreased from 83.3% in February 2020 to 48.3% in February 2021.

GUADALAJARA, Mexico, March 04, 2021 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacifico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced preliminary terminal passenger traffic figures for the month of February 2021, compared to traffic figures for February 2020.

For February 2021, the total number of terminal passengers at GAP’s 14 airports decreased by 52.7%, compared to the same period of the previous year. Domestic passenger traffic decreased by 38.0%, while international passenger traffic decreased by 69.0%.

Domestic traffic continues to strengthen at our 12 Mexican airports as airlines continue to gradually increase their operations. However, international traffic declined due to new requirements put in place to enter the United States, as well as the suspension of flights from Mexico and the Caribbean by the government of Canada.

Domestic Terminal Passengers – 14 airports (in thousands):
Airport	Feb-20		Feb-21		% Change		Jan-Feb 20		Jan-Feb 21		% Change
Guadalajara	844.3		435.3		(48.4	%)	1,722.3		962.0		(44.1	%)
Tijuana*	490.9		406.3		(17.2	%)	1,001.6		874.8		(12.7	%)
Los Cabos	134.1		102.9		(23.3	%)	286.3		224.5		(21.6	%)
Puerto Vallarta	124.5		79.1		(36.5	%)	273.2		174.7		(36.0	%)
Guanajuato	149.3		76.6		(48.7	%)	317.4		176.1		(44.5	%)
Montego Bay	0.3		0.0		(100.0	%)	0.9		0.0		(100.0	%)
Hermosillo	138.3		69.5		(49.7	%)	287.1		149.6		(47.9	%)
Morelia	43.5		29.7		(31.7	%)	92.2		71.0		(23.0	%)
Mexicali	91.2		53.5		(41.4	%)	201.7		122.2		(39.4	%)
La Paz	73.7		46.6		(36.8	%)	153.0		104.3		(31.8	%)
Aguascalientes	48.7		27.4		(43.8	%)	102.4		62.1		(39.4	%)
Kingston	0.4		0.0		(96.7	%)	1.1		0.1		(94.0	%)
Los Mochis	30.2		18.7		(38.0	%)	62.4		43.6		(30.1	%)
Manzanillo	7.3		4.7		(36.2	%)	16.4		10.4		(36.5	%)
Total	2,176.7		1,350.3		(38.0	%)	4,517.8		2,975.3		(34.1	%)
International Terminal Passengers – 14 airports (in thousands):
Airport	Feb-20		Feb-21		% Change		Jan-Feb 20		Jan-Feb 21		% Change
Guadalajara	312.3		137.0		(56.1	%)	736.0		399.5		(45.7	%)
Tijuana*	232.0		103.5		(55.4	%)	532.4		257.5		(51.6	%)
Los Cabos	359.5		130.4		(63.7	%)	714.3		302.5		(57.7	%)
Puerto Vallarta	405.6		81.8		(79.8	%)	811.3		205.7		(74.6	%)
Guanajuato	48.8		18.3		(62.6	%)	115.6		57.6		(50.2	%)
Montego Bay	426.4		75.6		(82.3	%)	871.5		175.3		(79.9	%)
Hermosillo	6.9		5.4		(21.2	%)	14.7		12.4		(15.7	%)
Morelia	31.5		18.9		(40.2	%)	74.5		53.3		(28.5	%)
Mexicali	0.4		0.2		(51.4	%)	1.0		0.4		(59.0	%)
La Paz	1.2		0.9		(22.0	%)	2.2		2.2		(1.5	%)
Aguascalientes	15.9		6.9		(56.7	%)	37.1		22.8		(38.5	%)
Kingston	122.2		30.0		(75.4	%)	280.7		78.7		(72.0	%)
Los Mochis	0.4		0.4		12.4	%	1.0		1.0		(0.3	%)
Manzanillo	10.1		2.3		(77.5	%)	20.9		5.6		(73.0	%)
Total	1,973.1		611.6		(69.0	%)	4,213.3		1,574.5		(62.6	%)
Total Terminal Passengers – 14 airports (in thousands):
Airport	Feb-20		Feb-21		% Change		Jan-Feb 20		Jan-Feb 21		% Change
Guadalajara	1,156.6		572.3		(50.5	%)	2,458.3		1,361.5		(44.6	%)
Tijuana*	722.9		509.8		(29.5	%)	1,534.0		1,132.3		(26.2	%)
Los Cabos	493.6		233.3		(52.7	%)	1,000.6		527.0		(47.3	%)
Puerto Vallarta	530.1		160.9		(69.6	%)	1,084.5		380.4		(64.9	%)
Guanajuato	198.1		94.9		(52.1	%)	433.0		233.7		(46.0	%)
Montego Bay	426.7		75.6		(82.3	%)	872.4		175.3		(79.9	%)
Hermosillo	145.1		74.9		(48.4	%)	301.8		162.0		(46.3	%)
Morelia	75.0		48.6		(35.3	%)	166.6		124.2		(25.4	%)
Mexicali	91.6		53.7		(41.4	%)	202.6		122.6		(39.5	%)
La Paz	74.8		47.5		(36.6	%)	155.2		106.5		(31.4	%)
Aguascalientes	64.6		34.2		(47.0	%)	139.5		84.9		(39.1	%)
Kingston	122.6		30.1		(75.5	%)	281.9		78.8		(72.1	%)
Los Mochis	30.6		19.1		(37.4	%)	63.4		44.5		(29.7	%)
Manzanillo	17.4		6.9		(60.1	%)	37.4		16.1		(56.9	%)
Total	4,149.8		1,961.9		(52.7	%)	8,731.1		4,549.8		(47.9	%)
*Passengers in Tijuana who use CBX in both directions are classified as international.
CBX Users (in thousands):
CBX PARA BOLSA
Airport	Feb-20		Feb-21		% Change		Jan-Feb 20		Jan-Feb 21		% Change
Tijuana	229.9		102.5		(55.4	%)	527.1		255.2		(51.6	%)

Highlights for the Period:

• The number of seats available during February 2021 declined by 13.2% compared to February 2020; load factors for the month went from 83.3% in February 2020 to 48.3% in February 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. 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, IR and Financial Planning Manager	asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations	gmurillo@aeropuertosgap.com.mx / +523338801100 ext. 20294
Maria Barona, i-advize Corporate Communications	mbarona@i-advize.com

FAQ

What are the passenger traffic figures for Grupo Aeroportuario del Pacífico (PAC) in February 2021?

Grupo Aeroportuario del Pacífico reported a 52.7% decline in total terminal passenger traffic in February 2021.

How did domestic and international passenger traffic change for PAC in February 2021?

Domestic passenger traffic decreased by 38.0%, while international passenger traffic decreased by 69.0%.

What factors contributed to the decline in passenger traffic for PAC in February 2021?

The decline in international traffic was influenced by new entry requirements to the U.S. and the suspension of flights from Mexico and the Caribbean by Canada.

What was the load factor for PAC in February 2021?

The load factor for February 2021 fell to 48.3%, down from 83.3% in February 2020.

How did passenger numbers at Guadalajara airport change in February 2021?

Guadalajara airport saw a 48.4% decrease in domestic passengers and a 56.1% decrease in international passengers.