GAP announces maximum passenger tariffs and committed investments for Kingston Airport's Capital Development Program for 2026–2030.
Quiver AI Summary
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) announced the completion of its ordinary review for maximum passenger tariffs and committed investments related to the Capital Development Program for Kingston Airport covering the 2026–2030 period. The new maximum passenger charges, listed in U.S. dollars, will incrementally rise each year from $38.18 in 2026 to $60.10 in 2030. The approved investments for the period total millions in U.S. dollars, with varying amounts scheduled for each year. GAP operates 12 airports in Mexico and has expanded its portfolio to include airports in Jamaica. The press release includes forward-looking statements regarding potential future performance and financial results, emphasizing risks and uncertainties that may affect these projections. Additionally, GAP has established a whistleblower program for confidential reporting of suspected violations.
Potential Positives
- The approval of maximum passenger charges for Kingston Airport indicates a clear regulatory framework that may enhance revenue predictability for the company.
- Committed investments under the Capital Development Program totaling approximately $85 million signal significant planned expansion and improvement initiatives, potentially increasing operational capacity and customer experience.
- The company’s inclusion of a whistleblower program demonstrates a commitment to transparency and ethical governance, which could enhance investor confidence and stakeholder relationships.
- The completion of the ordinary review process for tariff and investment plans reinforces GAP's proactive management approach in maintaining operational standards and compliance in airport management.
Potential Negatives
- The announcement of maximum passenger charges could alienate travelers, potentially reducing passenger numbers as they might opt for more affordable alternatives.
- Commitments to capital investments over several years may strain financial resources, especially if actual passenger traffic does not meet projections.
- The reliance on forward-looking statements creates uncertainty for investors regarding the company's future performance and financial stability.
FAQ
What is the Capital Development Program for Kingston Airport?
The Capital Development Program outlines committed investments and maximum passenger tariffs for Kingston Airport from 2026 to 2030.
What are the maximum passenger charges for Kingston Airport?
Maximum passenger charges are set at $38.18 in 2026 and increase annually, reaching $60.10 by 2030.
How much is GAP investing in Kingston Airport?
GAP has committed a total investment of $45.8 million for Kingston Airport from 2026 to 2030 under the Capital Development Program.
When did GAP acquire the Kingston Airport operation?
GAP took control of the Norman Manley International Airport operation in Kingston, Jamaica, in October 2019.
How can complaints be reported confidentially to GAP?
Complaints can be reported anonymously via the hotline 800 04 ETICA or through their website www.lineadedenunciagap.com.
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, June 06, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces the conclusion of the ordinary review process for the maximum tariffs per passenger and committed investments included in the Capital Development Program for Kingston Airport for the 2026–2030 period.
The maximum passenger charges are expressed in U.S. dollars and will apply to each year as specified in the following table:
Airport | 2026 | 2027 | 2028 | 2029 | 2030 |
Kingston | 38.18 | 56.18 | 57.50 | 58.81 | 60.10 |
The investments approved by the Authority and committed under the Capital Development Program are expressed in millions of U.S. dollars and must be deployed according to the following schedule:
Airport | 2026 | 2027 | 2028 | 2029 | 2030 | Total |
Kingston | 45.8 | 23.4 | 3.8 | 7.9 | 4.3 | 85.2 |
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 [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation.
Alejandra Soto Investor Relations and Social Responsibility Officer | [email protected] |
Gisela Murillo, Investor Relations |
[email protected]
+52 33 3880 1100 ext. 20294 |