Grupo Aeroportuario del Pacifico Announces Growth Guidance for the Full Year 2023

GUADALAJARA, Mexico, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced today its guidance for the full year 2023 compared to 2022.

• Passenger traffic estimates are based on the consolidation of the routes developed to date, the increase of occupancy load factors, and airlines’ flight frequencies and seat availability, with the information currently available.
  
  
• The revenue increase is based on traffic performance, applicable passenger fees, inflation, contract terms, and current commercial agreements, as well as the development of other business lines operated directly by the Company.
  
  
• The increase in the cost of services reflects operating requirements needed to meet airport service demand, infrastructure expansion and service quality improvements, inflation, increase in minimum wages, and the hiring of additional personnel for the operations, maintenance, security, and cleaning.
  
  
• CAPEX reflects committed investments for GAP airports under the Master Development Program and investments in commercial spaces, parking lots, in addition to the hotel and mixed-use building at Guadalajara airport.

These figures are based on the Company’s current expectation of domestic and international aeronautical industry growth during 2023, as supported by GAP’s strategy of focusing on medium- and long-term business fundamentals.

These figures are estimates based on current assumptions that management believes are reasonable. Many of the factors affecting these current assumptions and the estimates on which they are based are outside of the Company’s control and are subject to change over the course of the year based on various external factors including, but not limited to, airline performance, domestic and international economic conditions, and government regulations. For a more extensive list of risk factors that could affect our business, please refer to GAP’s annual report on Form 20-F for the year ended December 31, 2021, published in April 2022.

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 operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.

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 June involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.