Grupo Aeroportuario del Pacífico

Grupo Aeroportuario del Pacífico, S.A.B. de C.V.

Company type	Sociedad Anónima Bursátil de Capital Variable
Traded as	BMV: GAP NYSE: PAC
Industry	Airport Services
Founded	November 1, 1998 (1998-11-01)
Headquarters	Guadalajara , Mexico
Number of locations	14 airports
Area served	West of Mexico and Jamaica
Key people	Laura Diez Barroso Azcarraga (Chairman) Fernando Bosque Mohíno (CEO)
Revenue	US$ 1,360.4 million (2022)
Net income	US$ 456.4 million (2022)
Total assets	US$ 3,006,416.8 million (2022)
Number of employees	1,402
Website	www.aeropuertosgap.com.mx/en/
Footnotes / references Source: Annual Report[1]

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. ("Pacific Airports Group, LLC"), known as GAP, is a Mexican airport operator headquartered in Guadalajara, Mexico. It operates 12 airports in the western states of Mexico, and 2 in Jamaica, including those of major Mexican cities Guadalajara and Tijuana, and two important tourist destinations, Los Cabos and Puerto Vallarta. It is the second largest airport services company by passenger traffic in Mexico. It serves approximately 51 million passengers annually, surpassing the operator of Mexico City International Airport, Grupo Aeroportuario Ciudad de Mexico.

Since 2011 there is an ongoing dispute between GAP and one of its major shareholders, Grupo México, which holds more than 20% of the shares and announced it planned to acquire at least 30% of the shares. According to GAP by-laws, its shareholders should not hold more than 10% of the shares. In 2015, Grupo México announced it has reduced its stake in GAP, although not enough to meet GAP by-laws rules.^[2]

GAP is listed on the Mexican Stock Exchange and in the NYSE through ADRs since 2006. It is a constituent of the IPC, the main benchmark index of the Mexican Stock Exchange.

Operating Airports[edit]

Airports in Mexico

Airports operate by GAP[3] AGU GDL HMO LAP BJX SJD LMM ZLO MXL MLM PVR TIJ
Airport	City	State	ICAO	IATA
Aguascalientes International Airport	Aguascalientes	Aguascalientes	MMAS	AGU
Miguel Hidalgo y Costilla 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
Licenciado Gustavo Díaz Ordaz International Airport	Puerto Vallarta	Jalisco	MMPR	PVR
Tijuana International Airport	Tijuana	Baja California	MMTJ	TIJ

Airports outside México[edit]

History, objectives and policies[edit]

Grupo Aeroportuario del Pacífico (GAP) was founded in 1998, when the Mexican airport system was opened to private investment. Since that time, GAP has administered, operated, maintained and developed twelve airports in the Pacific and Central regions of Mexico.^[4]

Objectives[edit]

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.

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 the NYSE under "PAC", and in the Bolsa Mexicana de Valores under "GAP".

GAP environmental policy[edit]

Grupo Aeroportuario del Pacífico undertakes actions that have as a main objective to serve with high quality levels, safety and comfort in close harmony with the environment.^[5]

Furthermore, GAP Environmental commitment has been developed in a constant manner, through defined programs and actions, providing resources to guarantee environmental normative fulfillment.

GAP's objective is to reduce as much as possible Environmental Impacts that are potentially associated with airport activity and infrastructure development, this will be done by defining the measures for its prevention, protection, improvement and correction in its case, guaranteeing the best quality levels and environmental normative fulfillment. As a consequence of this policy, GAP has obtained the Environmental Certificate granted by Federal Office for Environ Protection, and will ensure its maintenance by establishing a system for environmental management evaluation.

Statistics[edit]

The company operates the third, fifth and sixth most important airports in Mexico, being the Guadalajara, Tijuana and Los Cabos International Airports respectively. However, many of the airports operated by GAP have recently suffered negative percentage variations in terms of passengers traffic. This is due to the decrease of routes and frequencies by many airlines. For example, it is important to comment on the significant reduction of Aviacsa's operations at many of the company's airports during the month of April as well as year-to-date 2008. GAP expects further decreases in operations from this airline during this year, including the cancellation of operations at several of their airports, however these routes are not exclusive, therefore they expect that some of the flights will be gradually absorbed by other airlines in the market.

Also, at the close of April 2008, the weekly schedule of flights operated by Low Cost Carriers decreased by 73 weekly segments compared to March 2008, for a total of 971 frequencies and a total of 63 routes operated by these types of carriers. The decline in frequencies was mainly due to a restructuring of routes and frequencies by the airlines, with the objective of increasing profitability as a result of the highly competitive environment and the increasing cost of jet fuel.^[6]

Passenger numbers[edit]

Airports in Mexico[edit]

Number of passengers at each airport by 2023:^[7]

Airports outside Mexico[edit]

Number of passengers at each airport by 2023:^[7]

References[edit]

External links[edit]

• Official Website