Grupo Aeroportuario del Pacifico Reports Passenger Traffic Decrease of 38.3% for the Month of September

Rhea-AI Summary

Grupo Aeroportuario del Pacifico (PAC) reported a 38.3% decline in total terminal passenger traffic for September 2020, compared to September 2019. Domestic traffic decreased by 33.7% and international traffic fell by 47.1%. Key airports showed significant drops, with Guadalajara down by 41.5% and Tijuana by 14.8%. The gradual recovery in domestic passenger traffic contrasts with the continuing downturn in international figures. Overall, the number of available seats decreased by 20.7%, resulting in a load factor decline to 60.5% from 82.4% in September 2019.

Positive

• Gradual recovery in domestic passenger traffic.

Negative

• Total passenger traffic decreased by 38.3%.
• Domestic traffic fell 33.7%.
• International traffic down 47.1%.
• Significant drops in major airports: Guadalajara (41.5%), Tijuana (14.8%).
• Load factor reduced to 60.5% from 82.4%.
• Number of available seats decreased by 20.7%.

GUADALAJARA, Mexico, Oct. 05, 2020 (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 September 2020, compared to traffic figures for September 2019.

For September 2020, the total number of terminal passengers at GAP’s 14 airports decreased by 38.3%, compared to the same period of the previous year. Domestic passenger traffic decreased by 33.7%, while international passenger traffic decreased by 47.1%.

Domestic Terminal Passengers – 13 airports (in thousands):
Airport	Sep-19		Sep-20		% Change		Jan-Sep 19		Jan-Sep 20		% Change
Guadalajara	836.3		489.0		(41.5%)		7,765.8		3,990.3		(48.6%)
Tijuana*	490.9		418.2		(14.8%)		4,451.1		3,091.3		(30.5%)
Los Cabos	143.6		115.1		(19.9%)		1,447.7		784.6		(45.8%)
Puerto Vallarta	144.3		85.2		(40.9%)		1,371.2		632.5		(53.9%)
Montego Bay	0.8		0.0		(100.0%)		6.9		1.0		(86.1%)
Guanajuato	166.9		93.6		(43.9%)		1,522.3		722.0		(52.6%)
Hermosillo	141.7		80.8		(43.0%)		1,315.7		649.1		(50.7%)
Mexicali	90.2		54.7		(39.4%)		871.1		475.5		(45.4%)
Morelia	36.6		29.7		(19.0%)		342.8		269.2		(21.5%)
La Paz	72.2		45.2		(37.4%)		740.4		374.1		(49.5%)
Aguascalientes	50.7		31.2		(38.5%)		465.6		245.3		(47.3%)
Los Mochis	28.7		17.1		(40.4%)		282.8		135.7		(52.0%)
Manzanillo	6.1		3.8		(37.7%)		70.5		34.3		(51.4%)
Total	2,209.1		1,463.6		(33.7%)		20,653.8		11,404.9		(44.8%)
International Terminal Passengers – 13 airports (in thousands):
Airport	Sep-19		Sep-20		% Change		Jan-Sep 19		Jan-Sep 20		% Change
Guadalajara	317.8		178.8		(43.7%)		3,234.5		1,646.2		(49.1%)
Tijuana*	204.4		139.8		(31.6%)		2,136.1		1,207.1		(43.5%)
Los Cabos	168.7		102.0		(39.6%)		2,764.7		1,259.4		(54.4%)
Puerto Vallarta	96.9		45.2		(53.4%)		2,418.2		1,229.8		(49.1%)
Montego Bay	256.1		48.0		(81.3%)		3,615.3		1,324.1		(63.4%)
Guanajuato	47.5		25.6		(46.2%)		528.2		233.8		(55.7%)
Hermosillo	5.3		3.0		(42.7%)		51.7		28.7		(44.4%)
Mexicali	0.6		0.2		(72.0%)		5.1		1.6		(67.6%)
Morelia	28.5		20.4		(28.6%)		312.9		162.1		(48.2%)
La Paz	0.8		0.2		(71.5%)		9.4		4.7		(50.0%)
Aguascalientes	18.7		9.3		(50.4%)		164.4		77.9		(52.6%)
Los Mochis	0.6		0.1		(78.9%)		5.4		1.6		(69.6%)
Manzanillo	1.9		0.9		(50.3%)		60.8		32.6		(46.4%)
Total	1,147.9		573.5		(50.0%)		15,306.5		7,209.7		(52.9%)
Total Terminal Passengers – 13 airports (in thousands):
Airport	Sep-19		Sep-20		% Change		Jan-Sep 19		Jan-Sep 20		% Change
Guadalajara	1,154.1		667.9		(42.1%)		11,000.3		5,636.5		(48.8%)
Tijuana*	695.4		558.0		(19.8%)		6,587.2		4,298.4		(34.7%)
Los Cabos	312.3		217.0		(30.5%)		4,212.4		2,044.0		(51.5%)
Puerto Vallarta	241.2		130.4		(45.9%)		3,789.4		1,862.3		(50.9%)
Montego Bay	256.9		48.0		(81.3%)		3,622.2		1,325.1		(63.4%)
Guanajuato	214.4		119.2		(44.4%)		2,050.5		955.8		(53.4%)
Hermosillo	147.0		83.8		(43.0%)		1,367.4		677.8		(50.4%)
Mexicali	90.9		54.9		(39.6%)		876.2		477.2		(45.5%)
Morelia	65.2		50.0		(23.2%)		655.7		431.3		(34.2%)
La Paz	73.0		45.4		(37.8%)		749.8		378.8		(49.5%)
Aguascalientes	69.4		40.5		(41.7%)		630.0		323.2		(48.7%)
Los Mochis	29.3		17.2		(41.2%)		288.2		137.3		(52.4%)
Manzanillo	8.0		4.8		(40.7%)		131.2		66.8		(49.1%)
Total	3,357.1		2,037.1		(39.3%)		35,960.3		18,614.5		(48.2%)
*Passengers in Tijuana who use CBX in both directions are classified as international.
CBX Users (in thousands):
	Sep-19		Sep-20		% Change		Jan-Sep 19		Jan-Sep 20		% Change
Tijuana	200.8		139.2		(30.7%)		2,100.9		1,198.0		(43.0%)

Kingston Airport (in thousands):
Passengers	Sep-19		Sep-20		% Change		Jan-Sep 19		Jan-Sep 20		% Change
Domestic	N/A		0.03		N/A		N/A		1.3		N/A
International	N/A		33.4		N/A		N/A		494.4		N/A
Total	N/A		33.4		N/A		N/A		495.7		N/A
Total Passengers – 14 airports (in thousands):
Passengers	Sep-19		Sep-20		% Change		Jan-Sep 19		Jan-Sep 20		% Change
Domestic	2,209.1		1,463.7		(33.7%)		20,653.8		11,406.2		(44.8%)
International	1,147.9		606.9		(47.1%)		15,306.5		7,704.0		(49.7%)
Total	3,357.1		2,070.6		(38.3%)		35,960.3		19,110.2		(46.9%)

Highlights for the Period:

• In September, total passenger traffic decreased by 38.3%; passenger traffic at the Mexican airports decreased by 35.8%, due to the gradual recovery of domestic passengers and an improvement in the trends for the international passengers.
  
  
• The number of seats available during September 2020 declined by 20.7% compared to September 2019; load factors for the month went from 82.4% in September 2019 to 60.5% in September 2020.
  

Kingston Airport:

The Company assumed control of the Kingston Airport on October 10, 2019. Historical figures are presented for comparison purposes, for a total of 33.4 thousand passengers in September 2020, a 75.7% decline versus September 2019.

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 were Grupo Aeroportuario del Pacifico's (PAC) passenger traffic figures for September 2020?

In September 2020, Grupo Aeroportuario del Pacifico reported a total passenger traffic decrease of 38.3%, with domestic traffic down 33.7% and international traffic down 47.1%.

Which airport saw the largest decline in passenger traffic for PAC in September 2020?

Guadalajara airport experienced the largest decline at 41.5% in passenger traffic compared to September 2019.

What is the load factor reported by PAC for September 2020?

The load factor for Grupo Aeroportuario del Pacifico in September 2020 dropped to 60.5%, down from 82.4% in September 2019.

How did the number of available seats change for PAC in September 2020?

The number of available seats for Grupo Aeroportuario del Pacifico decreased by 20.7% in September 2020 compared to September 2019.

What are the year-to-date passenger traffic trends for PAC as of September 2020?

For the year-to-date in September 2020, total passenger traffic was down 46.9% compared to the same period in 2019.