Grupo Aeroportuario del Pacífico

Grupo Aeroportuario del Pacífico( "Pacific Airports Group" ), also known asGAP,is a Mexican airport operator headquartered inGuadalajara,Mexico.It operates 12 airports in central and northwesternMexicoand two inJamaica.

Grupo Aeroportuario del Pacífico, S.A.B. de C.V.
Company typeSociedad Anónima Bursátil de Capital Variable
BMV:GAP
NYSE:PAC
IndustryAirport Services
FoundedNovember 1, 1998(1998-11-01)
Headquarters,
Mexico
Number of locations
14 airports
Area served
West of Mexico andJamaica
Key people
Laura Diez Barroso Azcarraga
(Chairman)
Fernando Bosque Mohíno
(CEO)
RevenueIncreaseUS$ 1,360.4 million (2022)
IncreaseUS$ 456.4 million (2022)
Total assetsIncreaseUS$ 3,006,416.8 million (2022)
Number of employees
1,402
Websitewww.aeropuertosgap.mx/en/
Footnotes / references
Source: Annual Report[1]

GAP's airports include major urban areas, includingGuadalajara,Tijuana,andLeón,as well as major tourist destinations, includingLos Cabos,Puerto Vallarta,andMontego Bay.It is the largest airport operator in Mexico based on passenger traffic, with over 56 million passengers traveling through its 12 terminals in Mexico, and an additional 7 million passengers travelling through Jamaica.

GAP is listed on theMexican Stock Exchangeand in theNYSEthroughADRssince 2006. It is a constituent of theIPC,the main benchmark index of theMexican Stock Exchange.

History

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Prior to 1998,Aeropuertos y Servicios Auxiliares(ASA), a federal corporation, was responsible for the construction, development, and operation of all airports in Mexico. At the time, ASA's network included 58 commercial airports covering major cities and tourist destinations throughout the country.

In 1995,Congresspassed a law regulating airport management, which allowed private operators to submit bids to operate 35 commercial airports. This process saw the emergence of four major private operators, including GAP, which was awarded a 50-year concession to operate 12 of the available airfields. Other groups emerging from this process includedGrupo Aeroportuario Centro Norte(OMA), which was awarded a concession of 9 airports,Grupo Aeroportuario del Sureste(ASUR), with 13 airports, and Grupo Aeroportuario de la Ciudad de México, which continued to be majority-owned by the federal government, to operateMexico City International Airport.

Since that time, GAP has administered, operated, maintained and developed twelve airports in the Central and Pacific regions of Mexico.[2]

In 2011, GAP entered into a dispute with one of its largest shareholders,Grupo México,which held more than 20% of the Group's shares and announced plans to increase its stake to over 30%. According to GAP bylaws, no one shareholder can control more than 10% of the company's float. In 2015, the parties reached an agreement, with Grupo México announcing it has reduced its stake in GAP, although not enough to meet GAP bylaws.[3]

GAP has developed a comprehensive plan of airport development that is described in the Development Master Plan 2010–2014. To meet the objective to adapt the infrastructures of their airports, GAP foresees investing approximately 2,770 million pesos in the period 2010–2014.

In February 2006, shares of GAP were enlisted in theNYSEunder "PAC", and in theBolsa Mexicana de Valoresunder "GAP".

GAP derives income from passenger traffic and through marketing of its commercial spaces. In the commercial arena, the business strategy is focused on increasing the profit opportunities in retail spaces. To meet this strategy, the Group has placed in operation and continue to develop modern and attractive commercial areas. The objectives of Grupo Aeroportuario del Pacífico have been stated as: to fund the appropriate levels of infrastructure at their airports; to provide the technology, management methods, and modern operational tools to elevate levels of efficiency and operation; to meet international efficiency standards; and, finally, to maintain the present levels of security. The activities of the Group are held to a criterion of economic rationality, so that investors receive an attractive rate of return.

Operating Airports

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Airports in Mexico
Airport City State ICAO IATA
Aguascalientes International Airport Aguascalientes Aguascalientes
MMAS
AGU
Miguel Hidalgo Guadalajara International Airport Guadalajara Jalisco
MMGL
GDL
Hermosillo International Airport Hermosillo Sonora
MMHO
HMO
La Paz International Airport La Paz Baja California Sur
MMLP
LAP
Del Bajío International Airport León Guanajuato
MMLO
BJX
Los Cabos International Airport Los Cabos Baja California Sur
MMSD
SJD
Los Mochis International Airport Los Mochis Sinaloa
MMLM
LMM
Playa de Oro International Airport Manzanillo Colima
MMZO
ZLO
Mexicali International Airport Mexicali Baja California
MMML
MXL
Morelia International Airport Morelia Michoacán
MMMM
MLM
Puerto Vallarta International Airport Puerto Vallarta Jalisco
MMPR
PVR
Tijuana International Airport Tijuana Baja California
MMTJ
TIJ

Airports outside México

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New Airports
Airport City Country ICAO IATA
Sangster International Airport Montego Bay Jamaica
MKJS
MBJ
Norman Manley International Airport Kingston Jamaica
MKJP
KIN

The group has developed a comprehensive ESG platform, committing to incorporating social impact and environmental protection efforts into its operations.[5]This environmental commitment has been developed over the years through defined programs and actions, providing resources to ensure environmental goals and regulations are met.

The stated objective of these programs is to reduce environmental impacts associated with airport activity and infrastructure development by defining the measures for its prevention, protection, improvement and correction in its case. In relation to these programs, GAP has been awarded an Environmental Certificate granted by the Federal Office for Environmental Protection.

Statistics

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The company operates five of the ten busiest airport in Mexico by passenger traffic: Guadalajara (3rd), Tijuana (5th), Los Cabos (6th), Puerto Vallarta (7th), and Bajío (9th). Traffic figures have grown significantly since the group took control of the terminals, although these figures have been impacted by global events, including theGlobal Financial Crisisof 2008-2009, theCOVID-19 pandemic,and a product recall byPratt & Whitneyin 2023, affecting hundreds of aircraft operated by major airlines in Mexico.

Passenger numbers

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Airports in Mexico

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Number of passengers at each airport by 2023:[6]

Rank Airport City State Passengers
1 Miguel Hidalgo y Costilla Guadalajara International Airport Guadalajara Jalisco 17,710,200
2 Tijuana International Airport Tijuana Baja California 13,194,900
3 Los Cabos International Airport Los Cabos Baja California Sur 7,715,600
4 Licenciado Gustavo Díaz Ordaz International Airport Puerto Vallarta Jalisco 6,790,100
5 Del Bajío International Airport León Guanajuato 3,220,800
6 Hermosillo International Airport Hermosillo Sonora 2,189,900
7 Mexicali International Airport Mexicali Baja California 1,603,600
8 Morelia International Airport Morelia Michoacán 1,384,300
9 La Paz International Airport La Paz Baja California Sur 1,115,800
10 Aguascalientes International Airport Aguascalientes Aguascalientes 928,000
11 Los Mochis International Airport Los Mochis Sinaloa 470,700
12 Playa de Oro International Airport Manzanillo Colima 180,500
Total 56,504,400

Airports in Jamaica

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Number of passengers at each airport by 2023:[6]

Airport City Country Passengers
Sangster International Airport Montego Bay Jamaica 5,211,900
Norman Manley International Airport Kingston Jamaica 1,748,100
Total 6,960,000

References

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  1. ^"Financial Information".Grupo Aeroportuario del Pacífico.March 2021.RetrievedMay 2,2021.
  2. ^GAP - Who are we?
  3. ^Grupo Mexico sells more shares in airport operator GAP. Reuters.
  4. ^ "About us".Grupo Aeroportuario del Pacífico. January 2016.RetrievedJanuary 25,2016.
  5. ^GAP Environmental Policy
  6. ^ab"Traffic Report"(PDF).Grupo Aeroportuario del Pacífico. January 2024.RetrievedJanuary 13,2024.
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