Grupo Aeroportuario del Pacífico Reports Passenger Growth
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) announced significant developments in its passenger traffic metrics for December 2024. The company revealed a notable increase in the number of terminal passengers across its 12 operational airports compared to the same period in 2023.
Overall Performance and Highlights
In December 2024, the total number of terminal passengers across all of GAP's airports rose by 3.4% relative to December 2023. The airports in Guadalajara and Tijuana led the charge with increases of 8.2% and 2.7%, respectively. Meanwhile, airports in Puerto Vallarta and Los Cabos reported minor decreases of 1.8% and 0.9%. Additionally, Montego Bay's passenger traffic fell by 5.6% compared to the previous year.
Domestic Passenger Statistics
The domestic airport statistics revealed a varied impact on individual airports. For instance, Guadalajara's passenger count increased from 1,030.4 thousand to 1,083.7 thousand, reflecting a 5.2% uptick. On the contrary, Los Cabos saw a decline from 252.9 thousand to 251.4 thousand, marking a slight decrease.
International Traffic Analysis
On the international front, Guadalajara airport also saw growth, bolstering its passenger numbers from 531.6 thousand to 606.9 thousand, translating to a 14.2% rise. In contrast, Puerto Vallarta experienced a decline from 467.4 thousand to 437.0 thousand passengers, which is a decrease of 6.5%.
Operational Insights
Despite a reduction in available seats by 3.1% during December 2024, the load factor saw a dramatic increase, going from 80.4% in December 2023 to 85.5% this past month. This implies that while the overall capacity slightly contracted, the demand for flights has evidently remained robust, leading to fuller planes.
New Routes Launched
The airline industry remains in motion, with new routes introduced to cater to rising popularity. Notable additions include routes from Guadalajara to Mexicali and several other destinations, expanding the available options for travelers. Such new routes not only enhance travel convenience but also contribute positively to total passenger traffic.
Company Overview
Grupo Aeroportuario del Pacífico, commonly known as GAP, operates a network of 12 key airports located primarily in the Pacific region of Mexico, including major cities like Guadalajara and Tijuana. The company has a strong presence in tourism-heavy locales such as Puerto Vallarta, Los Cabos, La Paz, and Manzanillo. Since listing on the New York Stock Exchange under the ticker symbol 'PAC' and on the Mexican Stock Exchange as 'GAP', GAP has focused on expanding its operations. The acquisition of various airport facilities, including Sangster International Airport in Montego Bay, highlights its commitment to growth and service enhancement.
Contact Information
For further inquiries regarding performance or investor relations, interested parties can reach out to Alejandra Soto, Investor Relations and Social Responsibility Officer at asoto@aeropuertosgap.com.mx or Gisela Murillo at gmurillo@aeropuertosgap.com.mx.
Frequently Asked Questions
What percentage increase in passenger traffic did GAP report for December 2024?
Grupo Aeroportuario del Pacífico reported a 3.4% increase in passenger traffic for December 2024 compared to December 2023.
Which airports saw the highest increase in passenger traffic?
Guadalajara and Tijuana airports led the increase, with passenger traffic growing by 8.2% and 2.7%, respectively.
How did international traffic compare in December 2024?
Guadalajara's international traffic increased by 14.2%, whereas Puerto Vallarta saw a decline of 6.5% in international passenger counts.
What factors contributed to a higher load factor despite a decrease in seats?
The load factor improved from 80.4% to 85.5%, indicating higher occupancy rates as demand for flights increased.
How can I contact GAP for investor relations inquiries?
Interested individuals can contact Alejandra Soto via email at asoto@aeropuertosgap.com.mx for investor relations inquiries.
