Company Overview - Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, as well as tourist destinations such as Puerto Vallarta and Los Cabos [6] - GAP's shares are listed on the New York Stock Exchange under the ticker symbol "PAC" and on the Mexican Stock Exchange under "GAP" [6] - In April 2015, GAP acquired a 100% stake in Desarrollo de Concessioner Aeroportuarias, S.L., which operates Sangster International Airport in Montego Bay, Jamaica [6] Recent Developments - GAP signed amendments to the Concession Agreement with the Airports Authority of Jamaica (AAJ) for Montego Bay and Kingston Airports due to impacts from the COVID-19 pandemic [4] - The concession fee for Kingston Airport has been reduced from 62.01% of Gross Revenues to 53.22%, effective September 11, 2023 [4] - Any excess amounts paid to AAJ will be reimbursed to the Concessionaire once the runway extension project begins, with the benefit recognized retroactively in the 2024 Income Statement [4] Regulatory Compliance - GAP has implemented a "whistleblower" program in accordance with the Sarbanes-Oxley Act of 2002, allowing anonymous reporting of suspected criminal conduct or violations [3]

Core Viewpoint - Grupo Aeroportuario del Pacífico (GAP) has successfully refinanced a credit facility of Ps. 1.0 billion with Citibanamex, extending the maturity by 12 months and establishing a variable interest rate structure [1]. Company Overview - Grupo Aeroportuario del Pacífico operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, as well as tourist destinations such as Puerto Vallarta and Los Cabos [2]. - The company was listed on the New York Stock Exchange in February 2006 and on the Mexican Stock Exchange in the same year [2]. - GAP acquired a majority stake in MBJ Airports Limited, which operates Sangster International Airport in Jamaica, in April 2015, and entered into a concession agreement for the Norman Manley International Airport in Kingston, Jamaica, in October 2018 [2]. Financial Details - The refinanced credit facility will have interest payable monthly at a variable rate of TIIE28 plus 18 basis points, with the principal payment due on July 10, 2025 [1].

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 ...

Group 1 - Fairshake PAC, a political action committee supporting pro-crypto candidates, plans to spend over $100 million in the upcoming general election to elect lawmakers favorable to the crypto industry [1][3][4] - The crypto industry is mobilizing not just financial resources but also grassroots support, with Stand With Crypto collecting over 1.1 million email addresses of crypto advocates to engage them in the electoral process [5][8] - Fairshake PAC has raised approximately $160 million since its inception, with around 94% of contributions coming from just four companies: Ripple, Andreesen Horowitz, Coinbase, and Jump Crypto [17][18] Group 2 - The political landscape is shifting, with Democratic incumbents facing challenges from pro-crypto candidates in states like Ohio and Montana, where public sentiment towards crypto is evolving [8][9][22] - Fairshake has already spent over $37 million on advertisements in primary races, indicating its significant influence in the political arena [16][31] - The crypto industry is positioning itself as a serious player in politics, especially after the controversies surrounding previous high-profile figures like Sam Bankman-Fried [20][21] Group 3 - A Federal Reserve survey indicates that about 7% of Americans, or roughly 18 million adults, have owned or used crypto in the past year, a decrease of five percentage points from 2021 [12] - Fairshake's advertising strategy focuses on broader issues that resonate with voters, rather than solely on candidates' positions on crypto [25][29] - The upcoming elections will test how much influence the crypto industry can exert on voter behavior and candidate success [24][30]

Core Viewpoint - Grupo Aeroportuario del Pacífico (GAP) has drawn down Ps. 875.0 million from a credit facility with BBVA México to finance the acquisition of 51.5% of shares in Guadalajara World Trade Center, S.A. de C.V. [1][2] Company Overview - Grupo Aeroportuario del Pacífico operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, as well as tourist destinations such as Puerto Vallarta and Los Cabos [3]. - GAP's shares are listed on both the New York Stock Exchange (ticker: PAC) and the Mexican Stock Exchange (ticker: GAP) [3]. - The company has expanded its operations internationally, acquiring a majority stake in MBJ Airports Limited, which operates Sangster International Airport in Jamaica, and entering into a concession agreement for Norman Manley International Airport in Kingston, Jamaica [3].

Core Viewpoint - Grupo Aeroportuario del Pacífico (GAP) has acquired 51.5% of Guadalajara World Trade Center (GWTC) for Ps. 875,504,411.57, aiming to enhance its cargo business and leverage nearshoring opportunities in the region [1][2]. Company Overview - GAP operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, and has been publicly listed since February 2006 [9]. - In April 2015, GAP acquired a majority stake in MBJ Airports Limited, which operates Sangster International Airport in Jamaica, and entered into a concession agreement for Norman Manley International Airport in Kingston in October 2018 [9]. Acquisition Details - The acquisition of GWTC is expected to close and be paid by June 25, 2024, with the payment method yet to be determined [4]. - GWTC consists of seven companies specializing in handling, storage, and custody services for international cargo, operating in free trade zone facilities at Guadalajara and Puebla Airports [6]. Financial Performance - In 2023, GWTC generated revenues exceeding Ps. 1.0 billion, with an EBITDA margin of approximately 40% and no financial debt [8].

Company Overview - Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, and tourist destinations such as Puerto Vallarta and Los Cabos [1] - GAP's shares are listed on the New York Stock Exchange under the ticker symbol "PAC" and on the Mexican Stock Exchange under "GAP" [1] - The company has expanded internationally, acquiring a majority stake in MBJ Airports Limited in Jamaica and entering a concession agreement for the Norman Manley International Airport [1] Recent Financial Developments - On June 7, 2024, GAP completed the refinancing of a credit facility with Banco Nacional de México for Ps. 1.5 billion, extending the maturity by 18 months [2] - The refinancing includes a variable interest rate of TIIE-28 plus 24 basis points, with principal payment due on December 5, 2025 [2] Compliance and Governance - GAP has implemented a "whistleblower" program in accordance with the Sarbanes-Oxley Act, allowing anonymous reporting of suspected criminal conduct or violations [3] - Complaints are collected by a third party and reported to GAP's Audit Committee for immediate investigation [3]

Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported a 2.5% decrease in total terminal passenger traffic for May 2024 compared to May 2023, with a total of 2,917.1 thousand passengers [2][6] - Notable increases in passenger traffic were observed at Puerto Vallarta airport (3.2% increase), while Tijuana, Guadalajara, and Los Cabos airports experienced declines of 5.2%, 6.1%, and 2.8% respectively [2][3] Domestic Terminal Passengers - Total domestic terminal passengers decreased by 4.1% from May 2023 to May 2024, totaling 2,917.1 thousand passengers [2][6] - Specific airport performance: - Guadalajara: 1,012.5 thousand passengers, down 6.1% [3] - Tijuana: 719.6 thousand passengers, down 3.2% [3] - Los Cabos: 236.0 thousand passengers, down 2.8% [3] - Puerto Vallarta: 250.2 thousand passengers, up 5.2% [3] International Terminal Passengers - Total international terminal passengers increased slightly by 0.3% to 2,118.5 thousand passengers in May 2024 [4][6] - Key airport performance: - Guadalajara: 464.0 thousand passengers, up 5.7% [4] - Tijuana: 312.0 thousand passengers, down 9.6% [4] - Puerto Vallarta: 259.6 thousand passengers, up 1.4% [4] Overall Passenger Trends - The total terminal passengers for the year-to-date (January to May) decreased by 6.7% compared to the same period in the previous year, totaling 13,531.1 thousand passengers [2][6] - The overall load factor improved from 78.8% in May 2023 to 82.9% in May 2024, despite a 7.2% decrease in available seats [7] New Routes - New routes introduced include: - Guadalajara to Vancouver by Flair Airlines - Los Cabos to Phoenix by Frontier - Puerto Vallarta to Dallas-Fort Worth by Frontier [7]

Revenue Sources - Approximately 27.3%, 28.1%, and 24.9% of total revenues in 2021, 2022, and 2023, respectively, were derived from passenger charges for international passengers [1126]. - Approximately 20% of 2023 aeronautical and non-aeronautical revenues were denominated in U.S. dollars [1126]. Financial Position - As of December 31, 2023, 81.3% of cash and marketable securities were denominated in U.S. dollars [1127]. - Total U.S. dollar-denominated debt increased to U.S.$314.4 million as of December 31, 2023, from U.S.$260.5 million in 2021 [1128]. - As of December 31, 2023, 63.6% of total debt was fixed, amounting to Ps.18.8 billion in fixed rate debt out of a total of Ps.40.6 billion [1135]. Interest and Hedging - Interest expense for variable interest rate loans was Ps.2,281.2 million in 2023, with an average TIIE-28 rate of 11.42% [1143]. - The company recognized Ps.60.7 million in the reserve for the gain on cash flow hedges in 2023 [1145]. - The company has contracted interest rate swaps covering Ps.6.9 billion worth of risk related to the issuance of GAP 19 and GAP 20 long-term debt securities [1135]. Currency Impact - A 10% annual depreciation of the peso compared to the U.S. dollar would have increased revenues by approximately Ps.503.1 million in 2023 [1126]. - The company obtained U.S.$70.0 million in loans by bank debt in 2023 [1128].

Hi. Good morning. Thanks for the call. Just a bit of an update about the issue of the Pratt & Whitney. Have you seen -- do you think that for this year, for the last quarters, capacity could be limited due to the engine failures, the engine maintenance? We saw about Volaris that -- yesterday said that most of -- the peak of the capacity will Thank you, Gabriel. It's Raul. I mean, when we present our original guidance, we consider around 200 days for the period of maintenance of each one of the grounded plan ...