Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Amer. Dep. Shares (each rep. 10 Ser. B shares) - PAC STOCK NEWS

Grupo Aeroportuario del Pacífico (PAC) reported a 26.8% decline in total revenues for 1Q21, amounting to Ps. 3,638 million, primarily due to COVID-19's impact on passenger traffic, which fell 36.8% year-over-year. Aeronautical services revenues decreased by 33.6%, while non-aeronautical services revenues dropped 37.8%. Despite these challenges, the company achieved positive EBITDA of Ps. 1,757 million. Cash and cash equivalents increased by 34.2% to Ps. 14,728 million compared to 1Q20. The financial outlook remains cautious due to ongoing pandemic uncertainties.

Grupo Aeroportuario del Pacifico (PAC) held its Annual General Shareholders’ Meetings on April 27, 2021, with a quorum of 87.2% and 90.2%. Key resolutions included the approval of the financial statements for the fiscal year ending December 31, 2020, reporting net income of Ps.1,852,505,651. The company also approved a share repurchase program worth Ps. 3 billion over the next 12 months. Additionally, 35,424,453 treasury shares will be cancelled, and shareholders’ equity will be reduced by Ps. 2 billion. Board members and committee roles were ratified, ensuring stable governance moving forward.

Grupo Aeroportuario del Pacífico (PAC) has filed its annual report for the year ended December 31, 2020, with both the Mexican Stock Exchange and the U.S. SEC. This filing provides a comprehensive overview of the company's financial status and operational performance.

The company operates 12 airports across Mexico's Pacific region, serving key cities and tourist destinations. It also recently expanded its operations in Jamaica by acquiring interests in local airports.

Grupo Aeroportuario del Pacifico (PAC) reported a 1.2% increase in total terminal passenger traffic for March 2021 compared to March 2020, marking an uptick in domestic traffic by 10.6%. However, international traffic saw a significant decline of 15.3%. Across its 12 Mexican airports, total passenger numbers decreased by 4.6%. The company noted that domestic capacity is recovering as airlines ramp up operations, but international travel remains hampered due to new entry requirements in the U.S. and flight suspensions by Canada.

Grupo Aeroportuario del Pacífico (PAC) has scheduled its General Ordinary and Extraordinary Shareholders’ Meeting for April 27, 2021. Key agenda items include the presentation of the CEO's annual report, financial statements for 2020, and a proposal to cancel 35,424,453 treasury shares while reducing shareholders' equity by up to Ps. 2 billion. The meeting will also address the repurchase of shares valued at up to Ps. 3 billion over the next year. Shareholders must deposit stock certificates in advance to attend.

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.

Grupo Aeroportuario del Pacífico (PAC) announced a capital reduction distribution worth up to Ps. 2 billion at the upcoming Shareholders Meeting. Additionally, the company plans to propose a new share repurchase program of up to Ps. 3 billion for 2021. The company will also seek to cancel 35,424,453 shares, or 6.3% of authorized shares, that are held in treasury due to prior repurchases. These moves reflect the company’s efforts to enhance shareholder value amidst current market conditions.

Grupo Aeroportuario del Pacífico (PAC) reported 4Q20 results, showing significant impacts from COVID-19. Total revenues fell by 48.7% to Ps. 2.34 billion, affected by a 35.5% decline in passenger traffic across its 14 airports compared to 4Q19. Despite a positive EBITDA of Ps. 1.77 billion, net income declined 76.2% to Ps. 340.4 million. The company maintained a solid cash position with cash equivalents of Ps. 14.5 billion, up 92.6% year-over-year, and deferred investments for 20 months due to operational challenges.

Grupo Aeroportuario del Pacífico (PAC) reported a 43.5% decrease in total terminal passenger traffic for January 2021 compared to January 2020, with domestic traffic down 30.6% and international traffic down 57.0%. The airline industry is gradually increasing operations amidst ongoing pandemic challenges. New entry requirements for travelers to the US and Canada's flight suspensions may further impact passenger traffic. Load factors fell from 79.8% in January 2020 to 56.6% in January 2021, while available seats decreased by 13.3%.