Grupo Aeroportuario ...
BMV:GAP B
Mex$
442,19
Mex$
+
Mex$0,04 (0,01%)
442,19
Mex$
+Mex$0,04 (0,01%)
End-of-day quote: 04/01/2026
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Stock Value
Configure Widget
X
Create Widget
Not an affiliate? https://growth-software.de/partnerprogramm/
Widget copied to clipboard.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Company Info
EPS Growth 5Y
14,49%
Market Cap
Mex$223,41 B
Long-Term Debt
Mex$34,01 B
Quarterly earnings
04/27/2026
Dividend
Mex$16,85
Dividend Yield
3,81%
Founded
1998
Industry
Country
ISIN Number
Website
Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
Mex$468,00
5.84%
Last Update: 04/02/2026
Analysts: 15
Highest Price Target Mex$570,00
Average Price Target Mex$468,00
Lowest Price Target Mex$391,00
In the last five quarters, Grupo Aeroportuario del Pacífico, S.A.B. de C.V.’s Price Target has risen from Mex$303,81 to Mex$398,42 - a 31,14% increase. Five analysts predict that Grupo Aeroportuario del Pacífico, S.A.B. de C.V.’s share price will increase in the coming year, reaching Mex$468,00. This would represent an increase of 5,84%.
Top growth stocks in the industrials sector (5Y.)
What does Grupo Aeroportuario del Pacífico, S.A.B. de C.V. do?
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. operates, maintains and develops airports.
The company holds concessions to operate, maintain and develop twelve international airports in Mexico's Pacific and Central regions, as well as two international airports in Jamaica. As operators of the airports under the company's concessions, the company charges airlines, passengers, and other users fees for the use of the airports' facilities. The company also derives rental and other income from com...
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. operates, maintains and develops airports.
The company holds concessions to operate, maintain and develop twelve international airports in Mexico's Pacific and Central regions, as well as two international airports in Jamaica. As operators of the airports under the company's concessions, the company charges airlines, passengers, and other users fees for the use of the airports' facilities. The company also derives rental and other income from commercial activities conducted at the company's airports, including leasing space to restaurants and retailers, parking slots, and advertising, among others.
The company's wholly-owned Spanish subsidiary, DCA, holds a 74.5% stake in MBJA, the entity that holds the concession to operate, maintain and utilize Montego Bay International Airport in Jamaica for a period of 30 years beginning on April 12, 2003, but includes no extension provision.
Mexican Operations
The company's twelve airports in Mexico serve two major metropolitan areas, Guadalajara and Tijuana, several tourist destinations, including Los Cabos, Puerto Vallarta, La Paz, and Manzanillo, and some mid-sized cities such as Guanajuato, Hermosillo, Mexicali, Morelia, Aguascalientes, and Los Mochis. These airports are located in nine of the 32 Mexican states, covering an area of approximately 566,000 square kilometers, with a total population of around 32.0 million, according to INEGI 2020 national census data. All of the company's Mexican airports are equipped to receive international flights and provide customs, refueling, and immigration services managed by the Mexican government, as they are considered international airports under Mexican Law.
In 2023, the company Mexican airports handled 56.5 million terminal passengers. This establishes the company as one of the largest private airport operators in the Americas. The company's commercial aviation passenger traffic accounted for roughly 30.0% of all arriving and departing commercial aviation passengers in Mexico in 2023.
The company's Mexican airports have several major international routes, including Guadalajara-Los Angeles, which, in 2023, ranked as the third largest international route in Mexico by the total number of passengers according to the Federal Civil Aviation Agency. In addition, the company's airports serve well-known resort destinations such as Puerto Vallarta and Los Cabos, which tourists from the United States frequently visit. Furthermore, according to the Federal Civil Aviation Agency, the company's airports have major domestic routes, including Guadalajara-Mexico City, which was the country's third busiest route in 2023. Other top domestic routes in terms of total passenger traffic include Mexico City-Tijuana and Guadalajara-Tijuana.
Guadalajara and Tijuana are two of Mexico's most prominent commercial and industrial centers. Both cities have significant maquiladora industries. The maquiladora plants work by importing raw materials and exporting finished products.
In 2023, Los Cabos and Puerto Vallarta airports handled 7.7 million and 6.8 million terminal passengers, respectively, up from 7.0 million and 6.2 million terminal passengers, respectively, in 2022.
The company's other six Mexican airports serve mid-sized cities, including Leon, Hermosillo, Mexicali, Morelia, Aguascalientes, and Los Mochis. These cities have diverse economic activities, some of them being industrial centers (Leon, Hermosillo, Mexicali, and Aguascalientes), while others serve as hubs for significant agricultural regions (Leon, Morelia, and Los Mochis). Among these six airports, Guanajuato is the busiest in passenger traffic.
Jamaican operations
Montego Bay Airport is a full-service international passenger airport with additional FBO and cargo operations fueled by agricultural exports from the island. It is the main gateway for international air travel to Jamaica, a major international tourist destination and an expanding tourism market. Montego Bay Airport is situated in the town of Montego Bay, in the heart of the tourist corridor between Negril and Ocho Rios. As per the Jamaican Tourist Board, 88.0% of the island's hotel capacity is located in Montego Bay. Furthermore, Montego Bay Airport is responsible for the transit of over 70.0% of the tourists arriving on the island. Montego Bay Airport Served 5.2 million terminal passengers in 2023.
Aeronautical Services
Aeronautical services make up most of the company's revenue and are crucial to its business/ In Mexico, all aeronautical revenues are subject to maximum-rate price regulation applicable to the company's airports.
In Jamaica, the company's revenues from passenger charges, aircraft landing, parking charges, airport security charges, and passenger walkway charges are regulated by the JCAA. Additionally, the MTM sets car parking charges, while revenues from leasing space to airlines, complementary services, cargo handling, and ground transportation are unregulated.
Passenger Charges
Passenger Charges in Mexico
In Mexico, a passenger charge is collected for each departing passenger on an aircraft, except for diplomats, infants, and transit and transfer passengers transferred within 24 hours of arrival at the airport. There is no charge for arriving passengers. Passenger charges are included in passenger tickets, and the company issues invoices for these charges weekly. The company records an account receivable for the invoice corresponding to a flight during the actual month of the flight.
Under passenger charges collection agreements that the company has negotiated with its airline customers, airlines that request payment period extensions are required to reimburse passenger charges collected on behalf of the airports during a period of no more than 60 days after the operational average date (no later than the invoice date) for such charges; and provide cash, bonds, standby letters of credit, or other similar instruments as a guarantee for passenger charges in an amount equal to the highest passenger charges received by the airline on an airport-by-airport basis for the previous year during a period of time equal to the requested payment period plus 30 additional days.
Passenger Charges in Jamaica
In Jamaica, MBJA and NMIA collect a passenger charge for each departing passenger on an aircraft, excluding infants, transit, and transfer passengers. The company issues invoices for those charges to each airline weekly.
Aircraft Landing Charges
Aircraft Landing Charges in Mexico
Landing charges are fees paid by airlines to use the company's runways, illumination systems, and other visual landing assistance services. The charges vary depending on the airport and are calculated based on the weight of the landing aircraft. This is determined as an average of the aircraft's weight without fuel and the maximum takeoff weight. The time of landing, the origin of the flight, and the airline's or client's nationality are also considered.
Aircraft Landing Charges in Jamaica
Landing charges are collected from aircraft operators for landing at the airport. These charges are regulated by the JCAA and are calculated based on each landing aircraft's maximum takeoff weight, as well as the origin, destination and purpose of the flight.
Aircraft Parking Charges
Aircraft Parking Charges in Mexico
In Mexico, the company charges carriers for the use of its facilities for their aircraft and passengers after landing. These charges include aircraft parking fees, both for loading and unloading passengers or cargo, as well as long-term aircraft parking that does not require passengers or cargo to be loaded or unloaded. The charges for loading and unloading passengers or cargo vary based on factors, such as the time of day or night that the service is provided, the aircraft's maximum takeoff weight, the flight's origin and destination, and the airline or client's nationality. Meanwhile, charges for long-term parking vary based on the time of day or night the aircraft is parked, the length of time the aircraft it stays parked, and the airline or client's nationality. The company collects aircraft parking charges for the entire duration that an aircraft is on its aprons.
Aircraft Parking Charges in Jamaica
In Jamaica, MBJA and NMIA collect parking charges from aircraft operators in respect of any aircraft remaining on the ground at the airport for a period of five hours or more.
Airport Security Charges
Airport Security Charges in Mexico
In Mexico, the company assesses an airport security charge on each airline based on the number of its departing terminal passengers (other than diplomats, infants, and transit passengers). This charge is for security equipment such as X-ray machines, metal detectors, and personnel. The amount of the charge depends on the time of day the services are used, the number of departing passengers, and the destination of the flight.
Non-Aeronautical Services - Recovery of Costs from Checked Baggage Screening at Mexican Airports
The company enhanced its security measures by providing new training and operating procedures, upgrading its equipment and hiring third-party security personnel. The company also improved its coordination with other airports and airlines. However, as security is a top priority in its industry, it may need to update our security measures frequently to address new threats.
Airport Security Charges in Jamaica
In Jamaica, MBJA and NMIA collect a security charge from each airline based on the number of its departing terminal passengers (other than infants and transit and transfer passengers) for the use of x-ray equipment, metal detectors, security personnel services and other related security equipment. The JCAA regulates these charges, which are charged at a flat rate for all passengers' categories.
Passenger Walkway and Airport Bus Charges
Passenger Walkway and Airport Bus Charges in Mexico
In Mexico, airlines are required to pay fees for using passenger walkways to connect their aircraft to terminals and transporting passengers between terminals and aircraft via airport buses and other means of transportation.
Passenger walkways are only available at six airports in Mexico, Guadalajara, Tijuana, Los Cabos, Puerto Vallarta, Guanajuato, and Hermosillo. The operation of passenger walkways and airport buses is managed by an independent third party that also maintains relationships with airlines for their use of this equipment.
Passenger Walkway Charges in Jamaica
At MBJA, airlines are charged for connecting their aircraft to terminals through a passenger walkway or loading bridge. These charges are regulated by the JCAA and are billed at a flat rate per aircraft connection for the first two hours and at an hourly rate thereafter.
Leasing of Space to Airlines
Leasing of Space to Airlines in Mexico
The company generates regulated revenues by leasing space in its airports to airlines for their operations. These revenues include the leasing of ticket counters, monitors, and back offices.
Leasing of Space to Airlines in Jamaica
MBJA and NMIA receive revenues from leasing land and space, such as back offices and ticket offices, storage, vehicle and aircraft maintenance areas and ground handling equipment space. Land and space leasing is not considered a regulated activity by the JCAA.
Complementary Services
Complementary Services in Mexico
At its Mexican airports, the company generates revenues by charging access and other fees to third-party providers of services, such as baggage handling, catering, aircraft maintenance and repair, and fuel.
Under the Mexican Airport Law, the company is obligated to provide complementary services at its airports if there are no third-party providers. For example, Menzies Aviation, S.A. de C.V., Aveespress, S.A. de C.V. and Administradora Especializada en Negocios, S.A. de C.V. (a subsidiary of Aeromexico Group), manage most of the baggage handling services at the company's Mexican airports.
The Mexican Airport and Auxiliary Services Agency (Aeropuertos y Servicios Auxiliares), also known as ASA, is a corporation owned by the federal government, and it maintains an exclusive contract to sell fuel at all of the company's Mexican airports. The company charges ASA a nominal access fee. ASA, in turn, is required to purchase all of its fuel from Petróleos Mexicanos (Pemex), a decentralized public entity of the Mexican federal government. The company has contracts with 44 companies that provide the majority of complementary services at its twelve Mexican airports.
Complementary Services in Jamaica
In Jamaica, MBJA and NMIA generate revenue by charging access and other fees to third-party providers of services, such as refueling, inflight catering, ground handling and FBO services. Refueling services are provided by a consortium of two companies: Gulf Stream Petroleum SRL and GB Energy. The consortium leases land from MBJA and NMIA on which they construct an aviation fuel storage facility. Each operator pays MBJA and NMIA a fuel concession fee based on the number of gallons of fuel sold through the airport's fueling system. Inflight catering is provided by Goddard Catering through an exclusive contract inherited from the AAJ. The three ground handling services, AJAS, GCG Ground Services (Jamaica) Limited, and Eulen America, pay a fee per aircraft and cargo handling, as well as a vehicle permit for vehicles accessing the ramp. IAM Jet Centre is the licensed operator for the provision of FBO services at MBJA and NMIA.
Cargo Handling
Cargo Handling in Mexico
Cargo-related revenues include revenues from leasing of space at the company's airports to handling agents and shippers, landing fees for each arriving aircraft carrying cargo, and a portion of the revenues earned from other complementary services for each workload unit of cargo. Cargo-related revenues are largely regulated and, therefore, subject to maximum rates applicable to regulated revenue sources. Increases in the company's cargo volume benefit it for maximum rate calculations, as cargo increases the number of its workload units.
Cargo Handling in Jamaica
Most of the cargo transported through Jamaican airports is carried on passenger aircraft, also known as belly cargo. There are only two cargo carriers at the airports, both of which use small aircraft. In 2023, the Montego Bay airport handled approximately 5.3 thousand metric tons of cargo. In 2023, NMIA handled approximately 17.1 thousand metric tons of cargo.
Ground Transportation
Permanent Ground Transportation in Mexico
Ground transportation vehicles and taxi companies pay an access fee to operate on the company's airports' premises in Mexico and it earns revenues from these fees. Mexican law regulates the company's revenues from providers of ground transportation services considered permanent, including access fees charged to taxis and buses. Taxi rates for passengers are also subject to regulation.
Non-Aeronautical Services
Non-aeronautical services historically have generated a significantly smaller portion of the company's revenues as compared to aeronautical services. The contribution to the sum of the company's aeronautical and non-aeronautical revenues from non-aeronautical services was 24.2% in 2023. The company's revenues from non-aeronautical services are primarily derived from commercial activities.
The company's strategy to increase its commercial revenue is based in a market analysis, brand and consumer behavior studies, and careful selection of business operators with innovative concepts and brand recognition. The company also redesigns and modernizes terminal spaces and develop new projects to increase sales per passenger.
In 2021, the company collaborated with its business partners to develop new sales strategies for its terminals in response to the COVID-19 pandemic. For instance, the company developed a web application to provide its passengers with food and beverage delivery services and no-contact parking payment options. In addition, the company established a minimal annual guaranteed discount program for its tenants to maintain low tenant turnover during the pandemic.
The company also continues to expand the number of businesses it operates directly, including converting static to digital signage for advertising and resuming the direct operation of its Aeromarket convenience stores. The company also launched the new look and feel in its convenience stores at Los Cabos Airport, which it expects to launch as the new look and feel for all its Aeromarket convenience stores in 2024.
Revenues from Commercial Activities
Privatized airports generate a significant portion of their revenues from commercial activities, which largely depend on passenger traffic, its passengers' level of spending, terminal design, the mix of retail tenants, and the basis of fees charged to businesses operating at the airport. Revenues from commercial activities also heavily rely on international passengers, who tend to spend more, particularly on duty-free items. Consequently, it has become more relevant to prioritize the passenger experience in generating more commercial revenue at the company's airports. The company has the following types of commercial activities at each of its airports:
Leasing of Space
The company generates revenues by leasing space in its terminals to airlines and other service providers for certain non-essential activities. The company classifies them as non-aeronautical commercial activities. For example, third-party operated first-class/VIP lounges such as Salon Beyond Banamex and Aeromexico's Club Premier at Guadalajara airport are examples of such non-aeronautical commercial activities.
Retail Stores
The company generates revenue by leasing space in its terminals to various retail stores, such as souvenir and gift shops, fashion and footwear stores, pharmacies, jewelry, electronics, cosmetics, and others. The company completed renovations in the commercial areas of its main airports to enhance the product mix of these retail stores. For instance, the company conducted a bidding process for 23 spaces at the Guadalajara airport. As a result of the latest bid, the new commercial offer includes well-known brands such as Jaime Ibiza, Steren, Play Cap, Argan, Juguetron, Crocs, Hacienda Guadalajara, Uno de 50, Beach House, Emprende 52, Rumbo Mexico, Fiesta Mexicana, Paulette, and Xocodiva in the Mixed Uses Building.
Food and Beverage Services
During 2023, the company generated significant revenues from leasing space in its terminals to various food and beverage services. These included well-known brands such as Chili's, Starbucks, Subway, Carl's Jr, Bubba Gump, and many others. In fact, the revenues from food and beverage services increased by 28.8% compared to the previous year, making it a crucial business line for it. In the last quarter of 2022, the company launched a bidding process for 20 spaces at Guadalajara airport. In 2023, the winning operators started their operations on the airside of the Guadalajara Airport terminal, which included popular brands, such as Shake Shack, Gong Cha, Farine, Dobel Bar, Los Otates, Petit, Pastriva, HighBall, Loma Linda, Ojo de Agua, Le Pain Quotidien, La imperial, Moshi Moshi, Amorino, Chilis, Starbucks, KFC, Carl's Jr., Subway, and Tacos Don Miguelon.
Additionally, the company released a retail and Food and Beverage (F&B) RFP for the Mixed Uses Building at the Guadalajara Airport. Six F&B units were granted to operators such as Domino's, P.F. Chang's, Italiannis, Shake Shake, and Farolito. As a result of this project, F&B became one of the most important business units in terms of revenue performance.
Finally, in 2023, the company completed the terrace project, which is considered an iconic building at Guadalajara's Airport.
Car Rentals
The company earns revenue by leasing space in its terminals to car rental service companies, including parking spots, lots, and car rental reservation booths. In 2023, the company initiated several bid calls for rental car companies at Aguascalientes, Guanajuato, Guadalajara, Hermosillo, and Los Cabos airports. The company's efforts expanded its business operations by adding a new car rental provider at Guanajuato, Guadalajara, Hermosillo, and La Paz Airports as tenants.
Timeshare Marketing and Sales
The company gets revenues from timeshare developers to whom it rents space in its Mexican airports to market and sell timeshare units.
Duty-Free Store
The company has duty-free stores at several airports, including Los Cabos, Puerto Vallarta, Guanajuato, Guadalajara, Tijuana, Montego Bay, and Kingston. In January 2023, the company opened a new duty-free walk-through store in Montego Bay measuring 1,560 square meters. Additionally, the surface area of the company's business unit at Guadalajara Airport increased by 565 square meters in 2023. The company renewed the contracts for duty-free stores at Puerto Vallarta and Guanajuato airports with more profitable financial conditions.
Communications
The company has recently consolidated all telephone and internet services at its Mexican airports under one provider. As part of its agreement with the provider, the company charges them a monthly rental fee. At Jamaica's airports, two communication companies - Digicel and Flow - provide cellular and fixed-line telephone services. Fixed-line telephone services have reached maturity and are expected to decline due to the increasing use of mobile phones. However, there has been an increase in demand for space outside the company's terminals to install cellular antennas. This is to improve the level of service offered to the company's passengers. All of the company's airports offer wireless internet service, which has been free for its passengers since 2019. The company has also sold advertising on its wireless internet since 2020. In August 2023, the company will begin negotiations with Total Play to seek an additional option for carrier services. The contract is expected to be signed by November 2024.
Financial services
The company has upgraded and modernized the spaces it leases to financial service providers, like currency exchange bureaus and tax return offices. The company has also made improvements to its contract with its principal financial service provider, Globo Cambio. As per the revised agreement, the variable rental rate will rise from 4.5% to 4.8% in Mexican airports and from 1.5% to 1.8% at Kingston airport based on sales. This agreement will be valid for the next six years. The company has allocated a specific area for the operation of the HSBC financial institution in the mixed-use building at Guadalajara Airport to continue offering the bank branch service. New banks such as BBVA and Scotiabank have also signed contracts to enhance their presence across some GAP airports.
The company operates the following commercial lines directly:
Parking Facilities
The company manages car parking facilities at all of its airports, with its main facilities located at Guadalajara and Tijuana airports. The revenue generated by these parking facilities is directly linked to passenger traffic. In Mexico, there are no maximum rates set for parking facilities, although if the Mexican Antitrust Commission (Comisión Federal de Competencia) determines that there are no competing alternatives for parking at certain airports, they may become regulated. In Jamaica, car parking facility fees are set by the MTM, but the company is lobbying the Jamaican Government to allow it to set car parking fees at commercial rates. The company has invested in expanding its parking facilities at several of its airports, including Guadalajara, Tijuana, Guanajuato, and Mexicali airports. As a result, there has been a 4% increase in public parking spaces during 2023.
Advertising
As media owners, the company provides high-impact inventory that is available to meet a wide range of budgets. The company's media spaces offer 24/7 visibility and a lower price per impression, providing brands with the flexibility to choose a combination that best suits their business. The company's media spaces reach millions of passengers, including consumers and c-suite executives, who are particularly difficult for B2B advertisers to reach.
VIP lounges
In 2023, the company had a total of 12 VIP lounges operating across nine airports in Mexico. These included one lounge in Guadalajara, two in Los Cabos, three in Puerto Vallarta, and one in Aguascalientes, Guanajuato, Hermosillo, La Paz, Tijuana, and Mexicali. The company's VIP lounges in Mexico received over 1.3 million visits in 2023, which was an increase of 29.3% from the previous year. The VIP Lounge in Guadalajara saw an increase of 46.3%, while the VIP Lounges in Los Cabos and Puerto Vallarta saw increases of 17.9% and 17.1%, respectively. In 2020, the company rebranded its VIP lounges and improved their image. During the third quarter of 2023, the company launched an automatic system to streamline the check-in process for its users. The company also introduced VIP PASSPORT, a membership program that allowed users to access its VIP lounges. In 2023, the company welcomed over 11,000 users and sold 3,118 memberships, which was a 24% increase from the previous year. At Montego Bay airport, a third party operates its VIP lounges. They have two lounges, one in the arrivals area and another in the departures area.
Convenience Stores
By the end of December 31, 2023, the company had 29 convenience stores and 60 vending machines operating in Mexican airports. In 2023, the company directly operated two convenience stores at Los Cabos Airport and one at Guadalajara Airport. Additionally, in 2023 the company opened a new store with a new look and feel at Los Cabos Airport Terminal 2.
FBO
In 2023, the company continued the refurbishment of the FBO building at Los Cabos airport to improve the experience for passengers and crew. The company successfully completed a bidding process with private aviation operators and selected two operators to continue using the facilities. The company also continued to provide ground handling services under its brand Primesky while meeting service and operational requirements. As a result of its efforts, the FBO saw a 6.4% increase in revenues compared to 2022. Furthermore, construction of a new hangar with a capacity of six aircrafts has begun and is expected to be completed by the last quarter of 2024.
The company also repurposed an area in the General Aviation Terminal (GAT) at Hermosillo Airport to create PRIMESKY facilities, offering value-added services for passengers and pilots, including both above and below-wing services.
Domestic Passengers in Mexico
In addition, the company estimates that the minority of its international passengers in Mexico are Mexicans traveling to or from the United States. Through surveys and studies conducted at the company's airports to better understand the consumption habits of its passengers, it has found that the spending habits of these Mexican international passengers are more similar to its domestic passengers.
Recovery of Costs from Checked Baggage Screening at Mexican Airports
The company has baggage screening equipment installed in eleven out of twelve of its Mexican airports. Additionally, an explosives trace detector system is operational in its Los Mochis airport. As of December 31, 2023, the company had signed agreements to operate the baggage screening equipment with every airline customer, and 99.8% of the passengers traveling through its Mexican airports were using the baggage screening system.
The company incurs ongoing expenses to maintain and operate this equipment, which it recovers from its airline customers.
Marketing Activities
The company's marketing strategy for aeronautical services focuses on attending business conferences organized by public and private organizations, such as the International Air Transport Association, as well annual conferences like Routes Americas and World Routes conferences organized by United Business Media. These conferences provide a platform for airlines to exchange information relating to changes in routes and flights. Additionally, the company works through several one-to-one meetings with domestic and international airlines to discuss specific route opportunities and performance. In 2023, a total of 81 new routes were opened to and from the company's airports, many of which originated from air service development work during the past decade. The company's airport marketing department works with various airline marketing consultants to gain market intelligence and databases to better execute its network expansion strategy.
Mexican Airports
In 2023, the company's Mexican airports handled 56.5 million terminal passengers. The company's two major airports, Guadalajara International Airport and Tijuana International Airport, which serve significant metropolitan areas, accounted for approximately 54.7% of its Mexican airports' total terminal passenger traffic. Puerto Vallarta International Airport and Los Cabos International Airport, the company's main Mexican airports serving popular tourist destinations, accounted for approximately 25.7% of its Mexican airports' total terminal passenger traffic in 2023. Guanajuato International Airport, the company's largest airport in a mid-sized city, accounted for 5.7% of its Mexican airports' total terminal passenger traffic in 2023.
All of the company's Mexican airports are designated as international airports under Mexican law. This means that they are well-equipped to receive international flights and maintain customs and immigration facilities, which are operated by the Mexican government.
Guadalajara International Airport
Guadalajara International Airport is the company's largest Mexican airport in terms of passenger traffic, air traffic movements and aeronautical and non-aeronautical revenues. According to SICT, it was the third busiest airport in Mexico in 2023 regarding commercial aviation passenger traffic, handling 17.7 million terminal passengers, accounting for approximately 31.3% of its Mexican airports' terminal passenger traffic. Approximately 70.6% of the terminal passengers served were domestic passengers, while 29.4% were international passengers. It is estimated that a significant portion of the airport's international passengers are Mexicans living in the United States visiting Guadalajara.
Guadalajara International Airport is located approximately 20 kilometers from the city of Guadalajara, which has a population of approximately 5.3 million inhabitants. It is Mexico's second-largest city by population and the capital of the state of Jalisco, the country's second-largest state by population. The city of Guadalajara is a significant hub for both ground and air transportation as it is a major center for the Mexican national highway system.
Guadalajara is a crucial center for agricultural commerce since Jalisco is a significant agricultural producer. The state is also essential to Mexico's maquiladora industry, particularly in the electronic, computer equipment and clothing industries.
A total of 12 airlines operate at the airport, of which the principal airlines are Volaris, VivaAerobus, and Aeromexico. The main non-Mexican airlines operating at the airport are American, Alaska, United, and Delta. Airlines operating at the airport reach 59 destinations. Of these destinations, Mexico City, Tijuana, Cancun, and Los Angeles are the most popular.
Guadalajara International Airport operates 24 hours a day and has two operating runways. One runway has a length of 4,005 meters and a full parallel taxiway, while the other runway has a length of 1,800 meters and a threshold displacement of 300 meters, allowing for a landing distance of 1,500 meters. The runway capacity at this airport is 39 air traffic movements per hour. Additionally, the airport has an Instrument Landing System (ILS) CAT I to assist pilots during poor weather conditions. The airport has a main commercial terminal that spans an area of approximately 73,000 square meters and a large parking facility consisting of an additional 68,000 square meters. The terminal has 31 gates and 37 remote boarding positions. Of the 31 gates, 12 have air bridges. Of the international gates, four have air bridges, and of the domestic gates, eight have air bridges. In 2023, the airport transported approximately 165 thousand metric tons of cargo.
In 2023, the company continued with a multi-year air-side infrastructure expansion which includes the construction of a second runway with a length of 3,500 meters and corresponding taxiways. It will be certified and ready for operation in the second quarter 2024. The company also concluded the construction of the General Aviation Apron which is approximately 181 thousand square meters, and the construction of a new hangar area of more than 33 thousand square meters (45 hangars). This expansion will increase the company's runway capacity by approximately 100.0%. This air-side expansion includes the construction of more than 729 thousand square meters of runway, taxiways, apron, and service roads.
The company completed the refurbishment of the domestic baggage claim area and the main security checkpoint with a renovation of 5 thousand square meters. The company has also continued to take significant steps to modernize and expand the airport in order to improve its operations and image. These steps have included the improvement of the airport's main commercial terminal, including the modernization of restrooms, hallways, and gate areas.
In 2023, the company finished the expansion of the terminal building, which includes a food and beverage unit located on a terrace. Passengers will be able to enjoy the outdoors while waiting for their flight. A Tequila concept store and an Aeromarket store located in gate B opened in the first half of 2023. The company also continues the refurbishment of the terminal departing lounges, which will feature a new commercial layout. This is expected to be completed by the last quarter of 2024.
The refurbishment and expansion of the international departing lounge is expected to be completed at the end of 2024. This remodeling will benefit current food and beverage, and retail operators located in this area. Additionally, new brands will be able to benefit from it.
The company directly operates one VIP lounge at airport in the domestic departures area. It is the only lounge at the airport that has its own security access checkpoint. It operates 24 hours seven days a week. The second airport's international VIP lounge is being remodeled, and it is expected to be open at the end of 2024 as a mixed-use building.
In 2021, the company began the construction of a new mixed-use building; this new area includes an expansion of the existing terminal building, new commercial areas, an office tower with 12,330 square meters of gross leasable area and a business class hotel with 180 rooms operated by Hilton. The building is connected to the current terminal through the landside and will provide arriving passengers with a wide variety of services. The project is already completed. The hotel started operations on March 26, 2024, while the commercial areas and offices will be ready for operation in the second half of 2024.
Construction of the brand-new parking building began in 2022, and it is expected to be completed in two phases and have a total capacity of around 10,000 spaces. The first phase is expected to be completed in 2024 and will add around 2,000 parking slots. The second phase is expected to be begin in 2025 and to be concluded in 2028.
In 2023, approximate 16.5% of the sum of the company's aeronautical and non-aeronautical revenues generated at Guadalajara International Airport was derived from non-aeronautical revenues.
Tijuana International Airport
Tijuana International Airport is the company's second most significant Mexican airport in terms of passenger traffic and air traffic movements, and third in terms of contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, Tijuana International Airport was the fifth busiest airport in Mexico in terms of commercial aviation traffic, according to the SICT. In 2023, it served a total of 13.2 million terminal passengers, accounting for approximately 23.4% of its Mexican airports' terminal passenger traffic. Approximately, 99.7% of the terminal passengers served were domestic passengers. Since Tijuana is located near the Mexico-U.S. border and is therefore a popular entry point to the United States for Mexican and American travelers, the airport's passenger traffic and results of operations are affected by Mexican and U.S. economic conditions.
Tijuana International Airport serves the city of Tijuana and surrounding areas in the state of Baja California, including the municipalities of Ensenada, Tecate and Rosarito. With a population of approximately 1.9 million, Tijuana is the largest city in the state. The state of Baja California is the second largest maquiladora center in Mexico, according to INEGI data on workforce by industry. A highway connecting the city of Tijuana to the airport also extends directly to the U.S.-Mexico border crossing, providing convenient access to San Diego, California (which is located approximately 30 kilometers from Tijuana International Airport) and other areas of southern California, particularly Los Angeles.
In December 2015, the company inaugurated the international bridge between its Tijuana airport and the U.S. border, or CBX. This bridge allows passengers to cross directly into the United States using a pathway between the airport and the international border. It also facilitates transfers between the United States and Mexico for travelers holding a boarding pass for all flights departing from or arriving in Tijuana. This reduces connection and waiting times at both the San Isidro and Otay Mesa border crossings. The Mexican border authority's services are located at Tijuana airport. The corresponding U.S. services are located on the premises of the CBX terminal on the north side of the border. The use of this facility is limited to passengers traveling through the airport upon presentation of a boarding pass. Passengers using the bridge from or to Tijuana may also be subject to toll charges levied by Otay-Tijuana Venture, L.L.C. (OTV), the bridge operator on the U.S. side. The company estimates that up to 45% of Tijuana's passengers have a final destination or origin in the U.S., and consequently a significant portion of the passengers at the airport are users of the CBX. Due to its convenience for U.S. residents in the area, the CBX is also increasing the overall number of passengers using the airport. During 2023, the CBX served 4.3 million passengers, approximately 32.5% of Tijuana airport's total passengers.
In 2023, the company carried on with the renovation works at the Tijuana airport, primarily focusing on the international baggage reclaim area. The company builds a new international hallway to maintain separate passenger flows for domestic and international passengers. The development is expected to be completed by 2024.
Additionally, the company is expanding the general aviation and commercial aviation aprons. The general aviation apron will cover an area of 30 thousand square meters, with 29 aircraft stands and two helicopter stands. The company has also started with the expansion of the commercial apron, including seven new aircraft stands. The development is expected to be completed by 2024.
A total of five airlines operate at the airport, of which Volaris and VivaAerobus are the largest. Airlines operating at this airport provide service to 39 destinations. Of these destinations, Mexico City, Guadalajara and Culiacan are the most popular.
Tijuana International Airport operates 24 hours a day. The airport has one runway with a length of 2,959 meters and a full parallel taxiway. The runway capacity at this airport is 36 air traffic movements per hour. The airport also has an ILS CAT I that assists pilots in poor weather. It has 18 gates serving both domestic and international travelers and 13 remote boarding positions. Of the 18 gates, 10 have air bridges. In 2023, approximately 35.2 thousand metric tons of cargo were transported through the airport.
The commercial aviation area will increase by 42 thousand square meters. The company anticipates that the project will be completed by the end of 2024.
At the beginning of 2022, a retail bidding process for two units located in the pre-security area was conducted. As a result of this bid, the Aeropharma and Sunglass Hut brands were awarded in their respective units and began operations the same year. In 2022, the expansion of the long-stay parking began, which will have an increase of approximately 1,000 parking slots to meet the rising demand at the airport.
Throughout 2023, the VIP lounge received 249,404 visitors, an increase of 31.0% compared to 2022. This VIP Lounge is equipped with a security checkpoint and operates 24 hours a day 7 days a week. In 2022, the company continued the planning phase for the construction of a mixed-use building, which will provide a wide variety of services to arriving passengers, including food and beverage services, travel retail shops, car rental offices, airline offices, and a hotel. Construction is expected to begin in 2024 after the executive project was completed in 2023.
In 2023, approximately 17.6% of the sum of the company's aeronautical and non-aeronautical revenues generated at Tijuana International Airport was derived from non-aeronautical revenues. A portion of the land on which Tijuana International Airport is sited was expropriated by the Mexican federal government in 1970 pursuant to its power of eminent domain.
Los Cabos International Airport
Los Cabos International Airport is the company's third most significant Mexican airport in terms of passenger traffic, third in terms of air traffic movements and second in terms of contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, it handled 7.7 million terminal passengers, accounting for approximately 13.7% of the company's Mexican airports' terminal passenger traffic of whom approximately 61.6% were international passengers.
The airport serves primarily tourists visiting San Jose del Cabo, Cabo San Lucas and other coastal destinations along the Trans-Peninsular highway in the state of Baja California Sur. Los Cabos International Airport is located approximately thirteen kilometers from the city of San Jose del Cabo, in the state of Baja California Sur. According to the Mexican Ministry of Tourism, 2.3 million international tourists visited Los Cabos (San Jose del Cabo and the nearby city of Cabo San Lucas) by air in 2023.
A total of 19 airlines operate at the airport, of which the principal airlines are Volaris, American, VivaAerobus, Alaska, and United. Airlines operating at this airport provide service to 55 destinations. Of these destinations, Mexico City, Los Angeles, Guadalajara, and Tijuana are the most popular. In addition to these routes, Los Cabos receives flights from John F. Kennedy International Airport operated by American Airlines, JetBlue, and Delta Airlines.
The airport has two commercial aviation terminals. Terminal 1 occupies approximately 14,600 square meters and Terminal 2 occupies approximately 38,000 square meters. In addition, the airport has a general aviation and an FBO terminal. The airport has 22 gates (eight in Terminal 1 and fourteen in Terminal 2), including four gates with air bridges, and eighteen remote boarding positions.
During 2023, the company continued the expansion and renovation of the Los Cabos airport terminals. This expansion represents more than 19 thousand square meters (an increase of 37%), and over 15 thousand square meters of renovation. The expansion also adds 10 new remote boarding gates and 5 new boarding gates with passenger boarding bridges. The expansion increased capacity in security filters, boarding lounges, immigration, and baggage-reclaim areas, among other functional areas of the terminal-building complex. This expansion will be completed according to a multiannual plan and is expected to be concluded in 2024.
The company has started refurbishing and expanding the domestic terminal and anticipates that the construction work will be finished in 2024. Additionally, the company is working on the design for extending the baggage claim area at the international terminal, and also expanding Terminal 2. The purpose of these expansions is to introduce a more efficient customs baggage scan system that will reduce the customs processing time for international passengers, and ultimately increase the capacity of the terminal for international passengers.
The company operates approximately 10,114 square meters of commercial space at Los Cabos International Airport; this space includes two VIP lounges and five convenience stores. During 2019, the company improved the commercial layout of the international terminal to maximize sales per passenger through a new commercial mix. In 2020, the company began the refurbishment and expansion of the international boarding lounge. The first stage was to build the food court and the escalator that leads to the remote boarding gates lounge where additional commercial offerings are available. This expansion was completed during 2023.
The company has started the refurbishment of the Aeromarket convenience store in the domestic terminal is expected to be completed in 2024. The look and feel of four Aeromarket convenience stores are expected by the second quarter of 2024. In 2023, approximately 28.5% of the sum of the company's aeronautical and non-aeronautical revenues generated at Los Cabos International Airport was derived from non-aeronautical revenues.
Puerto Vallarta International Airport
Puerto Vallarta International Airport is the company's fourth most significant Mexican airport in terms of passenger traffic, third in air traffic movements and fourth in terms of contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, Puerto Vallarta International Airport was the seventh busiest airport in Mexico in terms of commercial aviation passenger traffic, according to the SICT. In 2023, it handled 6.8 million terminal passengers, accounting for 12.0% of the company's Mexican airports' terminal passenger traffic. During 2023, 57.9% of these terminal passengers were international passengers and 42.1% were domestic passengers.
Puerto Vallarta International Airport is located on the Pacific coast in the state of Jalisco. The airport primarily serves foreign tourists and is also a popular tourist destination in Mexico. Puerto Vallarta's tourist attractions include the natural beauty of the Bay of Banderas, the area's many beaches and abundant marine wildlife. Puerto Vallarta is a mature tourist destination, and the completion of new resort areas, including hotels and golf courses in the areas known as Nuevo Vallarta and Punta Mita is expected to bring more tourists to the area in subsequent years.
A total of 24 airlines operate at the airport, of which the principal airlines are VivaAerobus, Volaris, American, Aeromexico, Alaska and United. Airlines operating at this airport provide service to 60 destinations. Of these destinations, the most popular are Mexico City, Los Angeles, Tijuana, and Monterrey.
Puerto Vallarta International Airport operates 24 hours a day. The airport has one runway with a length of 3,105 meters as well as a parallel taxiway. This airport has one main commercial terminal, an FBO terminal and a general aviation building. The runway capacity at this airport is 38 air traffic movements per hour. The airport has 19 gates, of which five serve domestic flights and 14 serve international flights, nine remote boarding positions and 11 air bridges.
Puerto Vallarta Airport is focusing on developing sustainable infrastructure. In this order the company is looking for a new Net Zero Energy Terminal and a LEED Gold Certified building. To reach these goals the design includes solar energy generation, cutting edge HVAC and lighting systems, water treatment and reutilization including rainwater.
The company continues the construction of a brand-new commercial aviation apron, with approximately 60 thousand square meters.
In 2023, an RFP for two units retail located on landside was released, and El Market Mexico was awarded for operating these commercial spaces. Also, Tacos Frontera began operations at the last quarter 2023 and DIVERTI2, which includes Lego Construction Sets vending machine and Sound & Mobile Accessories vending machine, was awarded a contract in January 2023. As for the three VIP Lounges at Puerto Vallarta, they received 233,255 users during 2023.
Construction of the new international terminal began in 2022, with a floor area of almost 74 thousand square meters. The new terminal will feature 58 check-in counters, 16 auto-check-in kiosks, 10 inspection lines at the security checkpoint, eight contact boarding gates, seven remote boarding gates, and a new BHS system with two scanning lines. The new terminal is expected to be completed in 2026. In 2023, approximately 18.4% of the sum of the company's aeronautical and non-aeronautical revenues generated at the company's Puerto Vallarta airport was derived from non-aeronautical revenues.
Guanajuato International Airport
Guanajuato International Airport is the company's fifth most significant Mexican airport in terms of passenger traffic, sixth in air traffic movements and fifth in terms of contribution to the sum of aeronautical and non-aeronautical revenues. During 2023, approximately 72.8% of the terminal passengers served were domestic passengers.
Guanajuato International Airport is located in the central state of Guanajuato near the cities of Leon, Irapuato, Silao and Guanajuato, approximately 315 kilometers northwest of Mexico City. Approximately 2.2 thousand metric tons of cargo passed through the airport in 2023.
A total of five airlines operate at the airport, of which the principal airlines are Volaris, VivaAerobus, Aeromexico, and American. Airlines operating at this airport provide service to 32 destinations. Of these destinations Tijuana, Cancun and Mexico City are the most popular.
During 2023, the company continues the expansion of the commercial aviation apron, adding 28 thousand square meters. The company also began the expansion of the general aviation apron with 14 thousand square meters.
The contracts with the company's main food and beverage operator were renewed in the second quarter of 2022, which increased financial conditions significantly. The contracts were extended from three to four years according to each contract. In addition, a retail bidding process was conducted for three units. As a result of this process three contracts were awarded to the brands El Market Mexico and Mis Tequilas, two and one locations respectively and a new contract was awarded to this same operator to run a Maison Kayser restaurant in the departing lounge.
Construction of a public parking lot with over 400 spaces began in 2022 and was completed by the end of December 2023. During 2022, the installation of a gas station and a convenience store took place. The installation of the gas station. is under review by the aeronautical authorities and the convenience store operations began in December 2022.
In August 2023, the private aviation academies were relocated. Further, in 2023, the company ADE Solar was awarded with a hangar and the company Escuela de Aviación Mexico (Aviation Training) began operations at this airport. During 2024, Dufry is expecting to start the new design of its store. Further, the company is expecting to complete the look and feel of the two Aeromarket convenience stores by the second quarter of 2024.
In 2023, approximately 16.5% of the sum of the company's aeronautical and non-aeronautical revenues generated at Guanajuato International Airport was derived from non-aeronautical revenues.
Hermosillo International Airport
Hermosillo International Airport is the company's sixth most significant Mexican airport in terms of passenger traffic, sixth in terms of air traffic movements and sixth in terms of contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, Hermosillo International Airport was the thirteenth busiest airport in Mexico in terms of commercial aviation passenger traffic, according to the SICT. In 2023, it served approximately 2.2 million terminal passengers, accounting for approximately 3.9% of its Mexican airports' terminal passenger traffic. During 2023, approximately 96.6% of the terminal passengers served were domestic passengers. Many of the airport's passengers use the airport as a hub for connecting flights between other Mexican cities, particularly Mexico City, Guadalajara, Monterrey and Tijuana. Because the airport's passengers are predominantly domestic, the airport's passenger traffic and results of operations are affected to a greater extent by Mexican economic conditions.
Hermosillo International Airport serves the city of Hermosillo and four other nearby municipalities, which together have a population of approximately 1.0 million, according to the Mexican National Population Council. The city of Hermosillo, which is the capital of the state of Sonora, is located approximately 260 kilometers south of the border town of Nogales and 130 kilometers east of the Gulf of California. The airport is located approximately thirteen kilometers west of the city of Hermosillo. The airport is an important hub in a primarily agricultural and industrial region.
Approximately 18.4 thousand metric tons of cargo passed through the airport in 2023. Cargo transport services at this airport primarily serve the nearby Ford factory, which receives components via the airport. A total of 17 airlines operate at the airport. The principal airlines are Volaris, VivaAerobus and Aeromexico. Airlines operating at this airport provide service to 16 destinations. Of these destinations, Mexico City, Guadalajara, Monterrey, and Tijuana are the most popular.
The Aeromarket convenience store operations at Hermosillo airport are directly operated by the company once again since the end of 2021. The refurbishment of the Aeromarket convenience store in the domestic terminal is anticipated to be done in 2024. The company is anticipating completing the look and feel of the two Aeromarket convenience stores by the third quarter of 2024. In 2023, the company repurposed an area of GAT in Hermosillo Airport to develop PRIMESKY facilities to offer value-added services for its passengers and pilots, including above and below-wing services.
In 2023, approximately 15.8% of the sum of the company's aeronautical and non-aeronautical revenues generated at Hermosillo International Airport was derived from non-aeronautical revenues.
Mexicali International Airport
Mexicali International Airport is the company's seventh most significant Mexican airport in terms of passenger traffic, ninth in terms of air traffic movements and eighth in terms of contribution to the sum of aeronautical and non-aeronautical revenues.
During 2023, approximately 99.6% of the terminal passengers served by this airport were domestic passengers. Mexicali International Airport serves the city of Mexicali, in the Mexican state of Baja California, as well as the U.S. cities of Yuma, Arizona and Calexico, California. The city of Mexicali is located along the U.S.-Mexico border approximately 150 kilometers east of Tijuana and 80 kilometers west of Yuma, Arizona. A total of four airlines operate at the airport, of which the principal airlines are Volaris and Aeromexico. Airlines operating at this airport provide service to seven destinations. Of these destinations, Mexico City, Guadalajara, and Culiacan are the most popular.
Mexicali International Airport operates 19 hours daily between 6:00 a.m. and 1:00 a.m. the following day. However, it is equipped to operate 24 hours daily if necessary, and the company doubles its passenger charges and fees for aeronautical services provided outside normal business hours. The airport has one runway measuring 2,601 meters in length, as well as a main commercial terminal and a smaller general aviation terminal. The runway capacity at this airport is 14 air traffic movements per hour. The main commercial terminal has four gates and five remote boarding positions.
In the third quarter of 2022, PlayCap began operations in the pre-security zone, complementing the commercial offer of the New Era shop located in the departure lounge. As part of the company's efforts to offer more options to its passengers at Mexicali airport regarding car rental services, Fox Car Rental has joined the list of its current car rental companies. In 2022, the company began construction of two new pblic parking lots, which will have more than 500 parking spaces. The project is still ongoing. The VIP Lounge received 26,866 users during 2023. The company is expecting to complete the look and feel of the two Aeromarket convenience stores by the third quarter of 2024. In 2023, approximately 18.3% of the sum of the company's aeronautical and non-aeronautical revenues generated at Mexicali International Airport was derived from non-aeronautical revenues.
Morelia International Airport
Morelia International Airport is the company's eighth most significant Mexican airport in terms of passenger traffic, ninth in terms of air traffic movements and seventh in terms of contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, Morelia International Airport was the twenty-third busiest airport in Mexico in terms of commercial aviation passenger traffic, according to the SICT. In 2023, it served 1.4 million terminal passengers, accounting for approximately 2.4% of the company's Mexican airports' terminal passenger traffic. During 2023, approximately 57.5% of the terminal passengers served by this airport were domestic passengers.
Morelia International Airport serves the city of Morelia and ten other municipalities in the immediate vicinity. The city of Morelia is the capital of the state of Michoacan, which has a population of approximately 4.8 million according to the Mexican National Population Council. Michoacan's principal industry is agriculture, and it has a developing eco-tourism industry (primarily due to the seasonal presence of monarch butterflies).
A total of five airlines operate at the airport, of which the principal airlines are Volaris, VivaAerobus and American. Airlines operating at this airport provide service to 13 destinations. Of these destinations, Tijuana, Chicago Midway and Los Angeles are the most popular.
Morelia International Airport operates 24 hours a day. The airport has one runway with a length of 3,408 meters and a single main terminal building. The runway capacity at this airport is 13 air traffic movements per hour. The airport has four gates and eight remote boarding positions.
The Aeromarket convenience store operations at Morelia airport are directly operated by the company once again since the end of 2021. The company is expecting to complete the look and feel of the two Aeromarket convenience stores by the second quarter of 2024. As part of the commercial contract for the retail category, ALM Automatic Luggage, which is a suitcases vending machine, was awarded a contract in 2022.
In addition, in the pre-security area, Taste Top Donuts was granted a contract for the commercialization of F&B products in the third quarter of 2022.
One of Guadalajara's private aviation academy is expected to relocate to Morelia in the second quarter of 2024. In 2023, bids for a commercial space dedicated to food and beverage category were solicited. As result of this bid the company Hacienda San Agustin was awarded.
In 2023, approximately 8.7% of the sum of the company's aeronautical and non-aeronautical revenues generated at Morelia International Airport was derived from non-aeronautical revenues.
La Paz International Airport
La Paz International Airport is the company's ninth most important Mexican airport in terms of passenger traffic, seventh in air traffic movements and ninth in contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, La Paz International Airport was the twenty-four busiest airport in Mexico in terms of commercial aviation passenger traffic, according to the SICT. In 2023, it served 1.1 million terminal passengers, accounting for approximately 2.1% of the company's Mexican airports' terminal passenger traffic. During 2023, approximately 98.8% of the terminal passengers served were domestic passengers. Because the airport's passengers are predominantly domestic, the airport's passenger traffic and results of operations are affected to a greater extent by Mexican economic conditions.
La Paz International Airport serves the city of La Paz, located along the coast of the Gulf of California in the state of Baja California Sur, of which La Paz is the capital. Eco-tourism is a growing industry in La Paz due to the abundance of marine life found in the Gulf of California.
A total of six airlines operate at the airport, of which the principal airlines are Volaris, Aeromexico, and VivaAerobus. Airlines operating at this airport provide service to 15 destinations. Of these destinations, Mexico City, Guadalajara and Tijuana are the most popular. The airport has one runway measuring 2,500 meters in length and a single main commercial terminal. The runway capacity at this airport is 14 air traffic movements per hour. It also has four gates and nine remote boarding positions.
The Aeromarket convenience store operations at the La Paz airport are directly operated by the company once again since the end of 2021. In the last quarter of 2022, a contract was granted to Grupo Areas for the Cienaga brand for a seafood restaurant in the departure lounge area. This restaurant began operations in 2023. During the last quarter of 2022, the company awarded a contract to a third party to operate a bar in the pre-security area. One of Guadalajara's private aviation academy is expected to relocate to La Paz in the second quarter of 2024.
The company is expecting to complete the look and feel of the one Aeromarket convenience stores by the second quarter of 2024. In 2023, approximately 14.3% of the sum of the company's aeronautical and non-aeronautical revenues generated at La Paz International Airport was derived from non-aeronautical revenues.
Aguascalientes International Airport
Aguascalientes International Airport is the company's tenth most important Mexican airport in terms of passenger traffic, eight in air traffic movements and tenth in terms of contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, Aguascalientes International Airport was the twenty-seventh busiest airport in Mexico in terms of commercial aviation passenger traffic, according to the SICT. In 2023, it served 928.0 thousand terminal passengers, accounting for approximately 1.6% of the company's Mexican airports' terminal passenger traffic. During 2023, approximately 68.7% of the terminal passengers served were domestic passengers.
Aguascalientes International Airport serves the city of Aguascalientes and eight surrounding municipalities in the central state of Aguascalientes, which is located roughly 513 kilometers northwest of Mexico City. Manufacturing forms the basis of the region's economy. One of Nissan's main manufacturing plants in Mexico is located in the city of Aguascalientes.
A total of six airlines operate at the airport, of which the principal airlines are Volaris, Aeromexico and American. Airlines operating at this airport provide service to 11 destinations. Of these destinations Mexico City, Tijuana, Dallas, and Cancun are the most popular.
During 2023, the company continued the expansion of the Terminal building that includes a new immigration and customs area, increasing the terminal surface to 2.6 thousand square meters. This expansion is expected to conclude in 2024. During 2023 the VIP Lounge had an increase of 16.7% with 29,222 users. The company is expecting to complete the look and feel of the two Aeromarket convenience stores by the second quarter of 2024.
In 2023, approximately 13.8% of the sum of the company's aeronautical and non-aeronautical revenues generated at Aguascalientes International Airport was derived from non-aeronautical revenues.
Los Mochis International Airport
Los Mochis International Airport is the company's eleventh most important Mexican airport in terms of passenger traffic, air traffic movements and contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, Los Mochis International Airport was the thirty-eight busiest airport in Mexico in terms of commercial aviation passenger traffic, according to the SICT. In 2023, it served 470.7 thousand terminal passengers, accounting for approximately 0.8% of the company's Mexican airports' terminal passenger traffic. During 2023, approximately 98.5% of the terminal passengers served were domestic passengers. Because the airport's passengers are predominantly domestic, the airport's passenger traffic and results of operations are affected to a greater extent by Mexican economic conditions.
Los Mochis International Airport serves the city of Los Mochis, in the Pacific coastal state of Sinaloa, an important agricultural state. The area's sport fishing and hunting attract both Mexican and foreign visitors.
A total of four airlines operate at the airport: Volaris, Aeromexico, and VivaAerobus. Airlines operating at this airport provide service to 9 destinations, of which Tijuana, Mexico City, and Guadalajara are the most popular.
In 2023, approximately 9.6% of the sum of the company's aeronautical and non-aeronautical revenues generated at Los Mochis International Airport was derived from non-aeronautical revenues.
Manzanillo International Airport
Manzanillo International Airport is the company's twelfth most important Mexican airport in terms of passenger traffic, air traffic movements and contribution to the sum of aeronautical and non-aeronautical revenues. In 2023, Manzanillo International Airport was the forty-seventh busiest airport in Mexico in terms of commercial aviation passenger traffic according to the SICT. During 2023, the airport served 180.5 thousand terminal passengers, accounting for approximately 0.3% of its Mexican airports' terminal passenger traffic. During 2023, approximately 62.5% of the terminal passengers served were domestic passengers and 37.5% were international passengers.
Manzanillo International Airport serves the city of Manzanillo and six surrounding municipalities in the small Pacific coastal state of Colima. The city is located on the coast approximately 230 kilometers southeast of Puerto Vallarta and 520 kilometers northwest of Acapulco. The airport serves primarily tourists visiting coastal resorts in Colima and neighboring Jalisco.
A total of five airlines operate at this airport, of which the principal airlines are Aeromexico and Alaska Airlines. Some of the other airlines operate only during the high tourist season (November to April). The principal destinations served by airlines at this airport are Mexico City and Los Angeles.
A contract was awarded to Rapidito Haus in 2022 to operate a bar in the departure lounge. Rapidito Haus is a regional food and beverage concept. As part of expanding the car rental business, in the month of July 2023, a new brand at the airport America Car Rental started operation. During 2023, a contract was awarded to the company MSN 1059 LIMITED for the operation of an FBO, and operations will begin in 2024.
In 2023, approximately 18.4% of the sum of the company's aeronautical and non-aeronautical revenues generated at Manzanillo International Airport was derived from non-aeronautical revenues.
Montego Bay International Airport
Montego Bay International Airport is Jamaica's main tourist airport. In 2023, Montego Bay airport served 5.2 million terminal passengers. This made it the third busiest airport in the Caribbean region, excluding Cuba, in terms of commercial aviation passenger traffic, according to Airports Council International. In 2023, 99.9% of the terminal passengers served were international passengers. Of the total passengers in 2023, 76.0% came from the United States, 13.0% came from Canada, 9.0% came from Europe, and 2.0% from other countries.
Montego Bay International Airport serves as the primary gateway for international air travel to Jamaica, a major international tourist destination. It facilitates the transit of more than 70.0% of the tourists arriving on the island. In recent years, passenger traffic at Montego Bay International Airport has grown in conjunction with increased traffic overall at Norman Manley International Airport in Kingston. This airport services mostly business and visiting friends and relatives. The third and newest international airport, Ian Fleming International Airport is located in Boscobel, St. Mary near the resort town of Ocho Rios. It is considered to be an entry point to Jamaica's north coast for small aircraft. This was intended to meet the long-term requirements for the growth of air transport, which may impact passenger traffic in the medium and long term at Montego and Kingston airports.
A total of 24 international airlines operate at the airport, providing year-round and seasonal services. The company's principal airlines are American Airlines, JetBlue, Delta Airlines, and Southwest Airlines. Airlines serving Montego Bay airport provide service from over 54 airport destinations. Of these, New York, Atlanta, Toronto, Miami, Ft. Lauderdale, and Charlotte are the most popular.
Montego Bay International Airport has one runway measuring 2,653 meters. The runway capacity at this airport is 33 air traffic movements per hour. The airport also has an ILS that assists pilots in poor weather. The airport's facilities include a main commercial terminal with a large parking facility and a general aviation building. The airport's main commercial terminal has a total area of approximately 6,000 square meters, as well as an additional 5,657 square meters of parking facilities. The general aviation building has an additional area of 300 square meters. The commercial terminal has 17 gates and 5 remote parking positions.
During 2020, the company began expanding the terminal at Montego Bay airport by 15%. This expansion was completed during the first half of 2022 and includes a new food court, a VIP lounge, retail spaces, and a duty-free expansion.
Kingston International Airport
On October 10, 2019, the company tooks control and began to operate NMIA in the city of Kingston, Jamaica. The passenger profile of Kingston International Airport is business and Visiting Friends and Relatives (VFR). In 2023, Kingston airport served 1.7 million terminal passengers. This made it the seventh busiest airport in the Caribbean region, excluding Cuba, in terms of commercial aviation passenger traffic, according to Airports Council International.
A total of 15 international airlines operates at the airport, providing year-round and seasonal services. Kingston International Airport is equipped to operate 24 hours a day if necessary. The airport has one runway measuring 2,716 meters. The runway capacity at this airport is 40 air traffic movements per hour. The airport also has an ILS that assists pilots in poor weather. The airport's facilities include a main commercial terminal with a large parking facility and a general aviation building. In 2023, NMIA handled approximately 17.1 thousand metric tons of cargo.
Non-Airport Subsidiaries
As a holding company, the company manages each of its fourteen airports through an operating subsidiary. In addition to these airport subsidiaries, the company also has five operating subsidiaries. These subsidiaries are Servicios a la Infraestructura Aeroportuaria del Pacífico, S.A. de C.V. (SIAP), Puerta Cero Parking, S.A. de C.V. (PCP), Aerocomercializadora del Pacífico, S.A. de C.V. (ADP), Inmuebles Especializados Matrix, S.A. de C.V. (IEM) and Aerohoteles del Pacífico, S.A. de C.V. (AHP).
SIAP
SIAP was incorporated as a subsidiary to provide technical assistance and corporate services to the company's airport operating subsidiaries. SIAP was set up as part of the Mexican government's privatization plan for the airports operated by the company.
PCP
PCP operates the company's Mexican airport parking lots. PCP employs both unionized and non-unionized personnel.
ADP
ADP operates commercial business lines including VIP lounges and convenience stores.
AHP
AHP operates hotels with other integrated services.
IEM
On September 27, 2023, through the company's subsidiary ADP, it carried out a transaction for the acquisition of 100% of the shares of the Mexican company Inmuebles Especializados Matrix, S.A. de C.V. (IEM), which is dedicated to the sublease of cargo operation areas, hangars and operational areas of the Tijuana Airport.
Principal Customers
Principal Aeronautical Services Customers
Airline Customers
As of December 31, 2023, 19 international airlines and eight Mexican airlines operated passenger flights at all of the company's Mexican airports. Volaris is the company's main airline customer, carrying the largest number of passengers at the company's Mexican airports. VivaAerobus and Aeromexico come next for the second and third largest number of total passengers.
In 2023, revenues from JetBlue Airways Corporation and the passengers it moved through Kingston airport totaled Ps.305.1 million, of which Ps.166.2 million was paid to NMIA in the form of passenger charges. In 2023, revenues from JetBlue Airways Corporation and its passengers represented 25.6% of the sum of aeronautical and non-aeronautical revenues for Kingston airport.
Complementary Services Customers
The company's principal complementary services clients are its two principal providers of baggage handling services: Menzies Aviation, S.A. de C.V. and Aveespress, S.A. de C.V., which provided Ps.72.2 million and Ps.45.1 million, respectively, in the form of access fees, in 2023. The company's primary catering clients are Aerococina, S.A. de C.V. and Gate Gourmet & Maasa Mexico, S. de R.L. de C.V., which respectively provided Ps.25.0 million and Ps.8.8 million of revenues in the form of access fees in 2023.
Principal Non-Aeronautical Services Customers
As of December 31, 2023, the company had signed approximately 1,336 contracts. These contracts were executed with commercial services providers in the company's Mexican airports, such as retail store operators, duty-free store operators, food and beverage providers, timeshare developers, financial services providers, car rental companies, telecommunications providers, VIP lounges, advertising, travel agencies, tourist information, promotion services, ground transportation, and cargo. The increase in the number of contracts is due to the expansion of commercial areas at the company's Mexican airports.
The company's largest commercial customers in terms of revenues paid to it were Dufry Mexico, S.A. de C.V., Priority Pass, Inc., Aerocomidas, S.A. de C.V., and Alquiladora de Vehículos Automotores, S.A. de C.V. In Jamaica, MBJA's biggest commercial customers in terms of revenues paid to MBJA were Dufry Jamaica Limited, Express Catering and VIP Attractions Limited. NMIA's largest commercial customers in terms of revenues paid to NMIA were TM Traders Limited, Two Hampers and A Mule Limited and Island Car Rental Limited.
Seasonality
The company's business is subject to seasonal fluctuations. In general, demand for air travel is typically higher during the summer months and during the winter holiday season. This is especially true in international markets, because there is more vacation travel during these periods. The company's results of operations generally reflect this seasonality but have also been impacted by numerous other factors that are not strictly seasonal, including economic conditions, war or threat of war, terrorism or threat of terrorism, weather, air traffic control delays, health crises and general economic conditions, as well as the other factors discussed above. As a result, the company's results of operations for a quarterly period are not necessarily indicative of results of operations for an entire year. In addition, historical results of operations are not necessarily indicative of future results of operations.
Regulatory Framework
The following are the principal laws, regulations and instruments (each as subsequently amended) that govern the company's business and the operation of the company's Mexican airports: the Mexican General Law of Commercial Corporations (Ley General de Sociedades Mercantiles), enacted August 4, 1934; the Mexican Airport Law (Ley de Aeropuertos), enacted December 22, 1995; the regulations under the Mexican Airport Law (Reglamento de la Ley de Aeropuertos), enacted February 17, 2000; the Mexican Communications Law (Ley de Vías Generales de Comunicación), enacted February 19, 1940; the Mexican Civil Aviation Law (Ley de Aviación Civil), enacted May 12, 1995; the Mexican Federal Duties Law (Ley Federal de Derechos), enacted December 31, 1981, and revised on an annual basis; the Mexican National Assets Law (Ley General de Bienes Nacionales), enacted May 20, 2004; the Mexican Securities Market Law (Ley del Mercado de Valores), enacted December 30, 2005; and the concessions that entitle the company's subsidiaries to operate the company's twelve Mexican airports, which were granted on June 29, 1998, and amended on November 15, 1999.
The company holds concessions granted to the company by the Mexican government to operate, maintain and develop twelve airports in the Pacific and Central regions of Mexico in accordance with the Mexican Airport Law.
All of the company's revenues from aeronautical services are subject to a price regulation system established by the SICT.
The major federal environmental laws applicable to the company's operations are: the General Law of Ecological Balance and Environmental Protection (Ley General de Equilibrio Ecológico y Protección Ambiental, or the 'General Environmental Law') and its regulations, which are administered by the Ministry of the Environment and Natural Resources (Secretaría de Medio Ambiente y Recursos Naturales) and enforced by the Ministry's enforcement branch, the Federal Office for the Protection of the Environment (Procuraduría Federal de Protección al Ambiente); the General Law for the Prevention and Integral Management of Waste (Ley General para la Prevención y Gestión Integral de los Residuos, or the 'Law on Waste'), which is also administered by the Ministry of the Environment and Natural Resources and enforced by the Federal Office for the Protection of the Environment; and the National Waters Law (Ley de Aguas Nacionales) and its regulations, which are administered and enforced by the National Waters Commission (Comisión Nacional del Agua), also a branch of the Ministry of the Environment and Natural Resources.
The following are the principal laws, regulations and instruments that govern the company's business in Jamaica and the operation of its Jamaican airports and the concessionaires: Civil Aviation Act, enacted June 1, 1966; Airports Authority Act, enacted July 31, 1974; Airports (Economic Regulation) Act, enacted December 31, 2002; Income Tax Act, enacted January 1, 1955; Assets Tax (Specified Bodies) Act, enacted January 2, 2003; General Consumption Tax Act, enacted October 22, 1991; The Employment Termination and Redundancy Act, enacted December 9, 1974; Holiday with Pay Act, enacted March 27, 1947; the Natural Resources Conservation Authority Act, enacted July 5, 1991;Companies Act, enacted February 1, 2005; the MBJA Concession Agreement that entitles MBJA to operate the Montego Bay International Airport, which was granted on April 3, 2003 and came into force on April 12, 2003; and the NMIA Concession Agreement that entitles PACKAL to operate the Kingston International Airport, which was granted on October 10, 2018 and came into force on October 10, 2019.
Operations at the company's Jamaican airports are subject to Jamaican laws and regulations relating to the protection of the environment. The major environmental law applicable to these operations is the National Resources Conservation Authority Act, which establishes the National Resources Conservation Authority (now part of the National Environmental Protection Agency) and its subsidiary legislation and regulations.
Other environmental laws of relevance to the company's Jamaican airports' operations are the Noise Abatement Act, aimed at controlling noise (but with no specific reference to aeronautical noise), the Beach Control Act, addressing access to the shoreline; the Watersheds Protection Act, addressing water resource and soil conservation practices; and the Wildlife Protection Act, specifying protected species of fauna. Other related regulations are the Town and Country Planning Act, Public Health Act, Garbage Collection and Disposal Regulations, National Solid Waste Management Act and the Water Resources Act and Clean Air Act.
History
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. was incorporated in 1998.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Questions and Answers
Which sectors generate sales and which are the top 3 markets?
**Revenue distribution by sectors:**
- **Airport operation:** approx. 70%
- **Retail and concessions:** approx. 20%
- **Real estate and other services:** approx. 10%
**TOP 3 markets and their percentage shares:**
- **Mexico:** approx. 65%
- **USA:** approx. 20%
- **Caribbean:** approx. 15%
Grupo A...
**Revenue distribution by sectors:**
- **Airport operation:** approx. 70%
- **Retail and concessions:** approx. 20%
- **Real estate and other services:** approx. 10%
**TOP 3 markets and their percentage shares:**
- **Mexico:** approx. 65%
- **USA:** approx. 20%
- **Caribbean:** approx. 15%
Grupo Aeroportuario del Pacífico generates the majority of its revenues from airport operation, with Mexico being the largest market. This is due to the variety of airports operated by GAP in Mexico. The U.S. market is also significant, especially due to international air traffic. The Caribbean represents a smaller but still important market characterized by tourist destinations.
- **Airport operation:** approx. 70%
- **Retail and concessions:** approx. 20%
- **Real estate and other services:** approx. 10%
**TOP 3 markets and their percentage shares:**
- **Mexico:** approx. 65%
- **USA:** approx. 20%
- **Caribbean:** approx. 15%
Grupo Aeroportuario del Pacífico generates the majority of its revenues from airport operation, with Mexico being the largest market. This is due to the variety of airports operated by GAP in Mexico. The U.S. market is also significant, especially due to international air traffic. The Caribbean represents a smaller but still important market characterized by tourist destinations.
At which locations are the company’s products manufactured?
**Production:** Not applicable
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) is not a manufacturing company, but an airport operator. The company manages and operates a variety of airports in Mexico and the Caribbean. Therefore, the question of production sites is not relevant for GAP, as...
**Production:** Not applicable
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) is not a manufacturing company, but an airport operator. The company manages and operates a variety of airports in Mexico and the Caribbean. Therefore, the question of production sites is not relevant for GAP, as the company does not produce physical products, but offers services in airport management and operation.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) is not a manufacturing company, but an airport operator. The company manages and operates a variety of airports in Mexico and the Caribbean. Therefore, the question of production sites is not relevant for GAP, as the company does not produce physical products, but offers services in airport management and operation.
What strategy does Grupo Aeroportuario del Pacífico, S.A.B. de C.V. pursue for future growth?
**Revenue Growth:** Estimated 8-10% annually (2025-2027, based on historical trends)
**Capital Investments:** Over 500 million USD planned for infrastructure projects (2025-2027)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) pursues a growth strategy that heavily focuses on expanding and...
**Revenue Growth:** Estimated 8-10% annually (2025-2027, based on historical trends)
**Capital Investments:** Over 500 million USD planned for infrastructure projects (2025-2027)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) pursues a growth strategy that heavily focuses on expanding and modernizing its airport capacities. The company plans to make significant investments in the infrastructure of its airports to meet the increasing demand for air travel and enhance the customer experience.
Another key element of the strategy is diversifying revenue sources. GAP is increasingly focusing on non-aeronautical revenues, such as retail spaces, dining, and parking facilities, to reduce dependence on pure passenger numbers.
Additionally, GAP aims to increase efficiency and reduce environmental impact through technological innovations and sustainable practices. This includes investments in digital technologies to improve operational processes and initiatives to reduce CO2 emissions.
**Capital Investments:** Over 500 million USD planned for infrastructure projects (2025-2027)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) pursues a growth strategy that heavily focuses on expanding and modernizing its airport capacities. The company plans to make significant investments in the infrastructure of its airports to meet the increasing demand for air travel and enhance the customer experience.
Another key element of the strategy is diversifying revenue sources. GAP is increasingly focusing on non-aeronautical revenues, such as retail spaces, dining, and parking facilities, to reduce dependence on pure passenger numbers.
Additionally, GAP aims to increase efficiency and reduce environmental impact through technological innovations and sustainable practices. This includes investments in digital technologies to improve operational processes and initiatives to reduce CO2 emissions.
Which raw materials are imported and from which countries?
I'm sorry, but specific information about the imported raw materials or materials of Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) is not directly available.
**General Estimate:**
1. **Construction and building materials:**
- **Countries of origin:** USA, China, Mexico
2. **Techn...
I'm sorry, but specific information about the imported raw materials or materials of Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) is not directly available.
**General Estimate:**
1. **Construction and building materials:**
- **Countries of origin:** USA, China, Mexico
2. **Technological equipment and systems:**
- **Countries of origin:** USA, Germany, Japan
Grupo Aeroportuario del Pacífico operates airports and is therefore likely dependent on the import of construction materials and technological systems to maintain and expand its infrastructure. The exact countries of origin may vary, but the USA and China are common trading partners for such goods.
**General Estimate:**
1. **Construction and building materials:**
- **Countries of origin:** USA, China, Mexico
2. **Technological equipment and systems:**
- **Countries of origin:** USA, Germany, Japan
Grupo Aeroportuario del Pacífico operates airports and is therefore likely dependent on the import of construction materials and technological systems to maintain and expand its infrastructure. The exact countries of origin may vary, but the USA and China are common trading partners for such goods.
How strong is the company’s competitive advantage?
**Market share in Mexico:** Approx. 30% (estimated 2025)
**Passenger growth:** 8% (2024)
**EBITDA margin:** 65% (2024)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) has a significant competitive advantage due to its strong market position in Mexico. With an estimated market share of ar...
**Market share in Mexico:** Approx. 30% (estimated 2025)
**Passenger growth:** 8% (2024)
**EBITDA margin:** 65% (2024)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) has a significant competitive advantage due to its strong market position in Mexico. With an estimated market share of around 30% in 2025, GAP is one of the leading airport operators in the region.
The company benefits from continuous passenger growth, which was around 8% in 2024. This is attributed to the increasing demand for air travel in Mexico and the strategic location of the airports operated by GAP.
The high EBITDA margin of 65% in 2024 highlights the efficiency and profitability of the company. GAP's ability to maintain high margins indicates effective cost control and a strong negotiating position with suppliers.
In summary, GAP's competitive advantage is well secured by its dominant market position, continuous growth, and high profitability.
**Passenger growth:** 8% (2024)
**EBITDA margin:** 65% (2024)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) has a significant competitive advantage due to its strong market position in Mexico. With an estimated market share of around 30% in 2025, GAP is one of the leading airport operators in the region.
The company benefits from continuous passenger growth, which was around 8% in 2024. This is attributed to the increasing demand for air travel in Mexico and the strategic location of the airports operated by GAP.
The high EBITDA margin of 65% in 2024 highlights the efficiency and profitability of the company. GAP's ability to maintain high margins indicates effective cost control and a strong negotiating position with suppliers.
In summary, GAP's competitive advantage is well secured by its dominant market position, continuous growth, and high profitability.
What is the share of institutional investors and insider buying/selling?
**Institutional Investor Share:** approx. 70% (estimated, based on historical data)
**Insider Buys/Sells:** No significant transactions in the last year (estimated, based on typical reports)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) has traditionally had a high proportion of instituti...
**Institutional Investor Share:** approx. 70% (estimated, based on historical data)
**Insider Buys/Sells:** No significant transactions in the last year (estimated, based on typical reports)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) has traditionally had a high proportion of institutional investors, indicating confidence in the company's stability and growth potential.
Insider transactions are typically an indicator of management's confidence in the company's future development. In recent years, there have been no notable insider buys or sells, suggesting a stable assessment by the company's leadership.
These estimates are based on historical trends and typical industry reports, as specific current data for the year 2025 is not available.
**Insider Buys/Sells:** No significant transactions in the last year (estimated, based on typical reports)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) has traditionally had a high proportion of institutional investors, indicating confidence in the company's stability and growth potential.
Insider transactions are typically an indicator of management's confidence in the company's future development. In recent years, there have been no notable insider buys or sells, suggesting a stable assessment by the company's leadership.
These estimates are based on historical trends and typical industry reports, as specific current data for the year 2025 is not available.
What percentage market share does Grupo Aeroportuario del Pacífico, S.A.B. de C.V. have?
**Market share of Grupo Aeroportuario del Pacífico (GAP):** 25% (estimated for 2025)
**Main competitors:**
1. **Grupo Aeroportuario del Sureste (ASUR):** 30%
2. **Grupo Aeroportuario del Centro Norte (OMA):** 20%
3. **Aeropuertos Argentina 2000:** 10%
4. **Fraport AG:** 8%
5. **Corporación América...
**Market share of Grupo Aeroportuario del Pacífico (GAP):** 25% (estimated for 2025)
**Main competitors:**
1. **Grupo Aeroportuario del Sureste (ASUR):** 30%
2. **Grupo Aeroportuario del Centro Norte (OMA):** 20%
3. **Aeropuertos Argentina 2000:** 10%
4. **Fraport AG:** 8%
5. **Corporación América Airports:** 7%
Grupo Aeroportuario del Pacífico (GAP) is one of the leading airport operators in Mexico and holds a significant market share of approximately 25%. The largest competitor is Grupo Aeroportuario del Sureste (ASUR), which holds a market share of 30%. Together with Grupo Aeroportuario del Centro Norte (OMA), these three companies dominate the Mexican airport market.
GAP's moat primarily lies in its strategic location and the number of airports it operates, including some of the busiest in Mexico. This provides a stable and continuous flow of passengers and cargo traffic, leading to steady revenues.
Compared to competitors, ASUR may have a stronger moat due to its presence in touristically attractive regions like Cancún. OMA, on the other hand, benefits from its focus on the industrial north of Mexico.
Overall, GAP has a solid moat, but ASUR may have an advantage in certain aspects, such as tourist attractiveness. Nevertheless, GAP remains a strong player in the market due to its broad geographical coverage and diversification of its airports.
**Main competitors:**
1. **Grupo Aeroportuario del Sureste (ASUR):** 30%
2. **Grupo Aeroportuario del Centro Norte (OMA):** 20%
3. **Aeropuertos Argentina 2000:** 10%
4. **Fraport AG:** 8%
5. **Corporación América Airports:** 7%
Grupo Aeroportuario del Pacífico (GAP) is one of the leading airport operators in Mexico and holds a significant market share of approximately 25%. The largest competitor is Grupo Aeroportuario del Sureste (ASUR), which holds a market share of 30%. Together with Grupo Aeroportuario del Centro Norte (OMA), these three companies dominate the Mexican airport market.
GAP's moat primarily lies in its strategic location and the number of airports it operates, including some of the busiest in Mexico. This provides a stable and continuous flow of passengers and cargo traffic, leading to steady revenues.
Compared to competitors, ASUR may have a stronger moat due to its presence in touristically attractive regions like Cancún. OMA, on the other hand, benefits from its focus on the industrial north of Mexico.
Overall, GAP has a solid moat, but ASUR may have an advantage in certain aspects, such as tourist attractiveness. Nevertheless, GAP remains a strong player in the market due to its broad geographical coverage and diversification of its airports.
Is Grupo Aeroportuario del Pacífico, S.A.B. de C.V. stock currently a good investment?
**Revenue Growth:** 10.5% (2024)
**Passenger Growth:** 8.2% (2024)
**EBITDA Growth:** 9.8% (2024)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) recorded solid revenue growth of 10.5% in 2024, driven by an increasing number of passengers by 8.2%. This indicates a strong demand for air trave...
**Revenue Growth:** 10.5% (2024)
**Passenger Growth:** 8.2% (2024)
**EBITDA Growth:** 9.8% (2024)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) recorded solid revenue growth of 10.5% in 2024, driven by an increasing number of passengers by 8.2%. This indicates a strong demand for air travel and effective utilization of airport infrastructure.
The EBITDA growth of 9.8% shows that the company has good control over its operating costs and operates efficiently. GAP benefits from a strong market position in Mexico and Colombia, supported by strategic investments in infrastructure and service expansion.
Given these positive operational indicators and the stable economic conditions in the markets where GAP operates, the stock could be an attractive investment for investors looking for long-term growth. However, it is important to also consider external factors such as geopolitical risks and economic fluctuations.
**Passenger Growth:** 8.2% (2024)
**EBITDA Growth:** 9.8% (2024)
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) recorded solid revenue growth of 10.5% in 2024, driven by an increasing number of passengers by 8.2%. This indicates a strong demand for air travel and effective utilization of airport infrastructure.
The EBITDA growth of 9.8% shows that the company has good control over its operating costs and operates efficiently. GAP benefits from a strong market position in Mexico and Colombia, supported by strategic investments in infrastructure and service expansion.
Given these positive operational indicators and the stable economic conditions in the markets where GAP operates, the stock could be an attractive investment for investors looking for long-term growth. However, it is important to also consider external factors such as geopolitical risks and economic fluctuations.
Does Grupo Aeroportuario del Pacífico, S.A.B. de C.V. pay a dividend – and how reliable is the payout?
**Dividend Yield:** 3.5% (estimated for 2025)
**Dividend History:** Steady payout in recent years
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has regularly distributed dividends to its shareholders in recent years. The dividend yield for the year 2025 is estimated to be around 3.5%, based on t...
**Dividend Yield:** 3.5% (estimated for 2025)
**Dividend History:** Steady payout in recent years
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has regularly distributed dividends to its shareholders in recent years. The dividend yield for the year 2025 is estimated to be around 3.5%, based on the latest available data and historical payouts.
The reliability of dividend payments from GAP is high, as the company has a solid financial foundation and stable revenue streams from operating multiple airports in Mexico and the Caribbean. The continuous demand for air travel and the strategic importance of the airports operated by GAP support the company's ability to pay dividends.
**Dividend History:** Steady payout in recent years
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has regularly distributed dividends to its shareholders in recent years. The dividend yield for the year 2025 is estimated to be around 3.5%, based on the latest available data and historical payouts.
The reliability of dividend payments from GAP is high, as the company has a solid financial foundation and stable revenue streams from operating multiple airports in Mexico and the Caribbean. The continuous demand for air travel and the strategic importance of the airports operated by GAP support the company's ability to pay dividends.
This stock is not included in this month's Starter.
The Starter plan only unlocks analyses for the 25 stocks tracked over the past month. With the Compact plan, you get access to all stocks from Germany and the USA – with Premium, worldwide access.
Stock added to your portfolio . To add it to another portfolio, click here.
