Welcome to our dedicated page for Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Amer. Dep. Shares (each rep. 10 Ser. B shares) news (Ticker: PAC), a resource for investors and traders seeking the latest updates and insights on Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Amer. Dep. Shares (each rep. 10 Ser. B shares) stock.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP), headquartered in Guadalajara, Mexico, is a prominent airport operator engaged in the construction, development, and operation of airports across Mexico. Founded to streamline air travel infrastructure, GAP plays a crucial role in enhancing the connectivity and accessibility of key regions in Mexico and beyond.
GAP's portfolio includes major airports such as Guadalajara, Tijuana, Puerto Vallarta, San Jose del Cabo, Montego Bay, Hermosillo, and Guanajuato, among others. The Guadalajara segment stands as the company's primary revenue generator, contributing significantly to its financial health.
Recent reports highlight notable developments within the company. In 4Q23, the financial results saw a decrease of Ps. 99.7 million, or 13.3%, in net expense compared to 4Q22. This shift was driven by various factors including the consolidation of routes and preventive inspections of GTF engines. Additionally, the company's financial cost increased by Ps. 838.5 million, or 54.5%, from 2022 to 2023, primarily due to adjustments related to the adoption of IFRS accounting standards.
GAP has actively expanded its international footprint, with passenger traffic at Tijuana classified as international when using the Cross Border Xpress (CBX) in both directions. The company's strategic initiatives focus on enhancing passenger experiences, improving operational efficiencies, and maintaining stringent safety standards.
Financially, GAP continues to navigate through challenges by aligning its reporting practices with both Mexican Financial Reporting Standards (MFRS) and International Financial Reporting Standards (IFRS). The company ensures compliance with Mexican legal and tax requirements while delivering transparent and accurate financial information to its stakeholders.
Looking ahead, Grupo Aeroportuario del Pacífico remains committed to its mission of developing world-class airport facilities that support economic growth and regional development. Through continuous investment in infrastructure and technology, GAP aims to provide exceptional service to passengers and contribute to the overall advancement of the aviation industry.
Grupo Aeroportuario del Pacífico (PAC) announced its 2023 guidance, projecting a 6%-8% increase in passenger traffic, 12%-14% growth in aeronautical revenue, and 13%-15% in non-aeronautical revenue. Total revenue is expected to rise by 12%-14%, with EBITDA forecasted to increase by 10%-12% while maintaining an EBITDA margin of 70% ± 1%. The company is allocating Ps. 10.2 billion for CAPEX investments under its development programs. These projections hinge on assumptions regarding industry growth, airline performance, and economic conditions, which may be subject to change due to external factors.
Grupo Aeroportuario del Pacífico (PAC) announced a drawdown of Ps. 1.0 billion from a credit facility with Citibanamex. The loan has an 18-month term with monthly interest payments at a variable rate of TIIE-28 plus 30 basis points, with principal due at maturity. Funds will be allocated for capital investments. GAP operates 12 airports in Mexico's Pacific region, including significant cities such as Guadalajara and Tijuana, and holds a stake in airports in Jamaica.
Grupo Aeroportuario del Pacífico (PAC) reported a 22.2% increase in terminal passenger traffic for December 2022 compared to pre-pandemic levels in December 2019. Major airports like Tijuana, Los Cabos, and Puerto Vallarta saw significant growth of 35.1%, 31.4%, and 28.9% respectively. Domestic traffic reached 3,093,126 passengers, while international traffic increased to 2,488,110 passengers, marking a 10.5% rise. For 2022, total terminal passengers were 5,581,218, up 18.8% from 2021.
Grupo Aeroportuario del Pacífico (PAC) announced a drawdown of Ps. 1.5 billion from Citibanamex for an 18-month loan. The funding will support capital investments, with interest payable monthly at a variable rate linked to TIIE-28 plus 38 basis points, and principal due upon maturity. The company operates 12 airports in Mexico's Pacific region and has expanded internationally.
Grupo Aeroportuario del Pacífico (PAC) reported a 24.6% increase in terminal passenger traffic for November 2022 compared to November 2019, with total traffic at 2.93 million passengers. Major increases were noted in Tijuana (+49.0%), Puerto Vallarta (+31.1%), and Los Cabos (+26.4%). The company observed a 23.9% rise in available seats and an 80.3% load factor. International traffic also rose by 20.5%. GAP operates 12 airports across Mexico’s Pacific region. The report reflects recovery trends post-COVID-19 and the introduction of new routes, including Guadalajara to Orlando and Puerto Vallarta to Edmonton.
Grupo Aeroportuario del Pacífico (PAC) announced the payment of the final dividend installment of Ps.7.20 per share, following the approval at the Annual General Meeting on April 22, 2022. This is part of the ongoing commitment to return value to shareholders, marking the thirty-third dividend distribution.
GAP operates 12 airports in Mexico, including major cities like Guadalajara and Tijuana, and has expanded its holdings in Jamaica with the acquisition of Sangster and Norman Manley International Airports.
Grupo Aeroportuario del Pacífico (PAC) announced a drawdown of Ps. 1.5 billion from a credit facility with Scotiabank Inverlat, with a 12-month term and a possible 6-month extension. The variable interest rate is TIIE-28 plus 38 basis points, with principal due at maturity. The funds will finance capital investments and support general corporate purposes. GAP operates 12 airports in Mexico's Pacific region, enhancing its infrastructure and operational capacity to bolster growth opportunities.
Grupo Aeroportuario del Pacífico (PAC) reported a 22.6% increase in terminal passenger traffic for October 2022 compared to the same month in 2019. Major airports like Puerto Vallarta and Tijuana saw notable growth of 41.9% and 38.4%, respectively. Cumulatively, from January to October 2022, total passengers rose by 14.4% compared to the same period in 2019. The airline industry is witnessing a recovery, as evidenced by an 18.9% increase in available seats. Load factors also improved from 73.9% to 81.3% year-over-year.
Grupo Aeroportuario del Pacífico (PAC) announced the payment of Ps. 2,300 million for its "GAP 17-2" debt securities, totaling 23 million long-term securities. This payment was financed through proceeds from long-term debt securities issued on September 26, 2022. The company operates 12 airports in Mexico's Pacific region, including major cities and tourist destinations. It's important to note that the release mentions potential risks associated with forward-looking statements regarding future operations and financial conditions.
Grupo Aeroportuario del Pacífico (PAC) is set to complete its final dividend payment of Ps. 7.20 per share on November 17, 2022. This payment fulfills the dividend distribution approved during the Annual General Ordinary Shareholders’ Meeting on April 22, 2022. With 12 airports in operation across Mexico and interests in international airports, GAP demonstrates its commitment to providing returns to shareholders. The WHISTLEBLOWER program enhances corporate governance, ensuring compliance and accountability.
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