Core Viewpoint - Grupo Aeroportuario del Pacífico (GAP) reported a 1.2% increase in total passenger traffic across its 12 Mexican airports in January 2026 compared to January 2025, despite some airports experiencing declines due to external factors like Hurricane Melissa [2][3]. Passenger Traffic Summary - Total passenger traffic for January 2026 reached 2,965.3 thousand, up from 2,899.1 thousand in January 2025, marking a 2.3% increase [3]. - Guadalajara airport saw a significant increase of 6.0%, with passenger numbers rising from 1,006.2 thousand to 1,066.3 thousand [3]. - Puerto Vallarta reported a growth of 5.7%, increasing from 229.5 thousand to 242.5 thousand [3]. - In contrast, Tijuana and Los Cabos airports experienced declines of 0.5% and 5.6%, respectively [3]. International Passenger Traffic Summary - International passenger traffic decreased by 6.9%, from 2,747.0 thousand in January 2025 to 2,556.4 thousand in January 2026 [5]. - Montego Bay airport faced a drastic decline of 37.7%, with numbers dropping from 456.2 thousand to 284.2 thousand due to Hurricane Melissa [5][6]. - Morelia airport showed a notable increase of 25.6%, rising from 67.8 thousand to 85.2 thousand [5]. Load Factors and Capacity - The number of available seats increased by 3.0% in January 2026 compared to January 2025 [8]. - Load factors decreased from 83.9% in January 2025 to 79.7% in January 2026, indicating a drop in the efficiency of seat utilization [8]. Company Overview - Grupo Aeroportuario del Pacífico 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 [9]. - The company has been publicly traded since February 2006 on the New York Stock Exchange and the Mexican Stock Exchange [9].

Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported a 7.0% increase in total terminal passenger traffic for March 2025 compared to March 2024, with significant growth at major airports like Guadalajara, Tijuana, and Los Cabos [2][3] Passenger Traffic Summary - Total terminal passengers at GAP's 12 airports reached 3,040.6 thousand in March 2025, up from 2,699.5 thousand in March 2024, marking a 12.6% increase [3][6] - Guadalajara airport saw the highest growth with an 18.0% increase in passenger traffic, totaling 1,088.8 thousand in March 2025 [3][6] - Tijuana and Puerto Vallarta airports reported increases of 5.3% and 12.8% respectively, while Los Cabos increased by 8.8% [3][6] - Montego Bay experienced a decline of 7.7% in passenger traffic, totaling 0.0 thousand in March 2025 [2][3] Domestic vs. International Passengers - Domestic terminal passengers decreased by 1.3% to 2,707.2 thousand in March 2025, while international terminal passengers also saw a decline of 1.3% [5][6] - Notable changes in international passenger traffic included a 3.7% decrease at Guadalajara and a 7.7% decrease at Montego Bay [5][6] Load Factors and Seat Availability - The number of available seats increased by 9.0% in March 2025 compared to March 2024, but the load factor decreased from 84.0% to 81.5% [9] New Routes - GAP has introduced new routes including Guanajuato to Monterrey and Puerto Vallarta to Sacramento, enhancing connectivity [12]