GAP reports a 2.5% increase in terminal passenger traffic for November 2024 compared to November 2023 across 12 airports.
Quiver AI Summary
Grupo Aeroportuario del Pacífico (GAP) reported a 2.5% increase in terminal passenger traffic at its 12 airports in Mexico for November 2024 compared to November 2023. Major airports like Tijuana, Guadalajara, and Puerto Vallarta saw growth, with Tijuana leading at a 5.3% increase. However, Montego Bay experienced a 7.4% decline in passenger traffic. The total traffic figures for November 2024 showed mixed results with an increase in international passengers by 3.5%, while domestic traffic decreased overall by 6.0% year-to-date. Notably, GAP introduced several new routes, enhancing connectivity from cities like Hermosillo and La Paz to various domestic and international destinations.
Potential Positives
- Grupo Aeroportuario del Pacífico reported a 2.5% increase in total terminal passenger traffic for November 2024 compared to November 2023, indicating growth in demand for air travel at their airports.
- Notable increases in passenger traffic were observed at several key airports, with Tijuana, Guadalajara, and Puerto Vallarta airports showing growth of 5.3%, 5.0%, and 0.1%, respectively, highlighting strong performance in these locations.
- The company announced new routes from various airports, which could enhance connectivity and attract more travelers, supporting future growth.
- Overall, the load factors improved from 82.8% in November 2023 to 85.2% in November 2024, reflecting better capacity utilization and operational efficiency.
Potential Negatives
- Despite an overall increase in terminal passenger traffic of 2.5%, significant decreases were reported at Montego Bay and Mexicali airports, with drops of 7.4% and 39.5%, respectively, which may indicate challenges in those markets.
- The total number of passengers from January to November 2024 decreased by 6.0%, indicating a concerning trend in year-to-date performance compared to the previous year.
- Load factors increased to 85.2%, but this could suggest that despite a decline in available seats (down by 1.0%), the company is struggling with capacity management amid decreased passenger volume across several airports.
FAQ
What was the passenger traffic growth for GAP in November 2024?
The total passenger traffic at GAP’s airports grew by 2.5% in November 2024 compared to November 2023.
Which airports saw the highest increase in passenger traffic?
Tijuana, Guadalajara, Los Cabos, and Puerto Vallarta experienced increases of 5.3%, 5.0%, 0.5%, and 0.1%, respectively.
Was there a decline in passenger traffic at any GAP airports?
Yes, Montego Bay airport saw a decrease in passenger traffic of 7.4% compared to November 2023.
What new routes were announced for GAP's airports?
New routes include Hermosillo–Monterrey and Los Cabos–Frankfurt, among others, launched by various airlines.
How did domestic and international passengers compare for Guadalajara airport?
Guadalajara airport's domestic traffic increased by 0.6%, while international traffic grew by 15.6% in November 2024.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
GUADALAJARA, Mexico, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces preliminary terminal passenger traffic figures for November 2024, compared with November 2023.
For November 2024, the total number of terminal passengers at GAP’s 12 Mexican airports increased by 2.5%, compared to November 2023. Tijuana, Guadalajara, Los Cabos, and Puerto Vallarta airports presented an increase in passenger traffic of 5.3%, 5.0%, 0.5%, and 0.1%, respectively, compared to November 2023. On the other hand, Montego Bay presented a decrease in passenger traffic of 7.4%, compared to November 2023.
Domestic Terminal Passengers (in thousands):
| Airport | Nov-23 | Nov-24 | % Change | Jan- Nov 23 | Jan- Nov 24 | % Change |
| Guadalajara | 1,015.2 | 1,021.8 | 0.6% | 11,472.4 | 10,855.8 | (5.4%) |
| Tijuana* | 672.0 | 716.9 | 6.7% | 8,158.8 | 7,717.0 | (5.4%) |
| Los Cabos | 240.6 | 225.6 | (6.2%) | 2,712.9 | 2,578.7 | (4.9%) |
| Puerto Vallarta | 220.0 | 240.2 | 9.2% | 2,629.4 | 2,593.4 | (1.4%) |
| Montego Bay | 0.1 | 0.0 | (100.0%) | 0.1 | 0.0 | (100.0%) |
| Guanajuato | 203.8 | 187.5 | (8.0%) | 2,154.7 | 1,925.9 | (10.6%) |
| Hermosillo | 186.8 | 188.5 | 0.9% | 1,930.9 | 1,883.5 | (2.5%) |
| Kingston | 0.2 | 0.0 | (81.6%) | 1.6 | 2.5 | 52.1% |
| Morelia | 58.2 | 62.6 | 7.5% | 729.2 | 580.5 | (20.4%) |
| La Paz | 94.3 | 103.0 | 9.2% | 996.9 | 1,083.3 | 8.7% |
| Mexicali | 136.4 | 82.5 | (39.5%) | 1,449.6 | 922.9 | (36.3%) |
| Aguascalientes | 54.0 | 57.7 | 6.8% | 586.9 | 579.5 | (1.3%) |
| Los Mochis | 44.0 | 55.3 | 25.6% | 420.0 | 519.6 | 23.7% |
| Manzanillo | 11.9 | 12.8 | 7.2% | 101.0 | 116.1 | 14.9% |
| Total | 2,937.6 | 2,954.4 | 0.6 % | 33,344.3 | 31,358.8 | (6.0 %) |
International Terminal Passengers (in thousands):
| Airport | Nov-23 | Nov-24 | % Change | Jan- Nov 23 | Jan- Nov 24 | % Change |
| Guadalajara | 413.8 | 478.5 | 15.6% | 4,675.7 | 5,302.3 | 13.4% |
| Tijuana* | 348.9 | 358.3 | 2.7% | 3,928.9 | 3,691.9 | (6.0%) |
| Los Cabos | 383.1 | 401.5 | 4.8% | 4,301.7 | 4,214.7 | (2.0%) |
| Puerto Vallarta | 371.4 | 351.8 | (5.3%) | 3,460.2 | 3,524.6 | 1.9% |
| Montego Bay | 403.6 | 373.9 | (7.4%) | 4,716.7 | 4,590.2 | (2.7%) |
| Guanajuato | 74.0 | 85.6 | 15.6% | 791.7 | 943.0 | 19.1% |
| Hermosillo | 6.9 | 6.2 | (10.3%) | 68.2 | 75.6 | 10.8% |
| Kingston | 122.9 | 132.8 | 8.0% | 1,590.5 | 1,597.2 | 0.4% |
| Morelia | 48.4 | 55.6 | 15.0% | 538.5 | 592.2 | 10.0% |
| La Paz | 1.5 | 2.1 | 42.9% | 12.8 | 11.9 | (6.9%) |
| Mexicali | 0.6 | 0.6 | (2.6%) | 6.4 | 6.6 | 3.2% |
| Aguascalientes | 23.5 | 26.6 | 13.4% | 262.6 | 295.7 | 12.6% |
| Los Mochis | 0.5 | 0.5 | 1.1% | 6.2 | 7.2 | 15.7% |
| Manzanillo | 6.2 | 8.3 | 34.2% | 57.5 | 77.8 | 35.4% |
| Total | 2,205.1 | 2,282.1 | 3.5 % | 24,417.7 | 24,930.8 | 2.1 % |
Total Terminal Passengers (in thousands):
| Airport | Nov-23 | Nov-24 | % Change | Jan- Nov 23 | Jan- Nov 24 | % Change |
| Guadalajara | 1,429.0 | 1,500.2 | 5.0% | 16,148.2 | 16,158.1 | 0.1% |
| Tijuana* | 1,020.9 | 1,075.2 | 5.3% | 12,087.6 | 11,408.9 | (5.6%) |
| Los Cabos | 623.7 | 627.1 | 0.5% | 7,014.6 | 6,793.4 | (3.2%) |
| Puerto Vallarta | 591.4 | 592.0 | 0.1% | 6,089.6 | 6,118.0 | 0.5% |
| Montego Bay | 403.6 | 373.9 | (7.4%) | 4,716.8 | 4,590.2 | (2.7%) |
| Guanajuato | 277.8 | 273.1 | (1.7%) | 2,946.4 | 2,868.9 | (2.6%) |
| Hermosillo | 193.7 | 194.7 | 0.5% | 1,999.1 | 1,959.2 | (2.0%) |
| Kingston | 123.2 | 132.8 | 7.8% | 1,592.2 | 1,599.7 | 0.5% |
| Morelia | 106.6 | 118.2 | 10.9% | 1,267.8 | 1,172.7 | (7.5%) |
| La Paz | 95.8 | 105.1 | 9.8% | 1,009.6 | 1,095.2 | 8.5% |
| Mexicali | 136.9 | 83.1 | (39.3%) | 1,456.0 | 929.5 | (36.2%) |
| Aguascalientes | 77.5 | 84.4 | 8.8% | 849.5 | 875.2 | 3.0% |
| Los Mochis | 44.5 | 55.7 | 25.4% | 426.3 | 526.8 | 23.6% |
| Manzanillo | 18.2 | 21.1 | 16.4% | 158.5 | 193.9 | 22.3% |
| Total | 5,142.6 | 5,236.5 | 1.8 % | 57,762.0 | 56,289.6 | (2.5 %) |
*Passengers in Tijuana who use CBX in both directions are classified as international.
CBX users (in thousands):
| Airport | Nov-23 | Nov-24 | % Change | Jan- Nov 23 | Jan- Nov 24 | % Change |
| Tijuana | 346.3 | 351.8 | 1.6% | 3,896.5 | 3,634.3 | (6.7%) |
Highlights for the month:
- Seats and load factors : The seats available during November 2024 decreased by 1.0%, compared to November 2023. The load factors for the month went from 82.8% in November 2023 to 85.2% in November 2024.
- New routes:
- Hermosillo – Monterrey: Volaris
- La Paz – Los Angeles: Alaska
- Los Mochis – Monterrey: Volaris
- Morelia – Monterrey: Volaris
- Mexicali – Monterrey: Volaris
- Los Cabos – Frankfurt: Condor
- Los Cabos – Winnipeg: WestJet
- Manzanillo – Atlanta: Aeromexico
- Montego Bay – Nassau: Bahamasair
- Montego Bay – Hartford, Connecticut: Avelo
Company Description
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.
| This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. |
In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at denuncia@lineadedenunciagap.com. GAP’s Audit Committee will be notified of all complaints for immediate investigation.
| Alejandra Soto, Investor Relations and Social Responsibility Officer | asoto@aeropuertosgap.com.mx |
| Gisela Murillo, Investor Relations | gmurillo@aeropuertosgap.com.mx/+52 33 3880 1100 ext. 20294 |
