Business Context and Reporting Period
Company: Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (Pacific Airport Group)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: Month ended May 2026 (Preliminary data released June 5, 2026)
Operations: The company operates 12 airports in Mexico's Pacific region and two airports in Jamaica (Montego Bay and Kingston). Key hubs include Guadalajara, Tijuana, Puerto Vallarta, and Los Cabos.
Key Financial and Operational Metrics
Note: This filing contains operational traffic data only. No revenue, profit, cash flow, margin, debt, or liquidity figures are provided in this document.
Passenger Traffic (May 2026 vs. May 2025)
- Total Terminal Passengers: 4,955.2 thousand (Decrease of 4.1%)
- Domestic Passengers: 3,014.2 thousand (Decrease of 1.3%)
- International Passengers: 1,940.9 thousand (Decrease of 8.2%)
- Seats Available: Decreased by 7.5%
- Load Factor: Increased from 81.1% to 84.1%
Year-to-Date Traffic (Jan-May 2026 vs. Jan-May 2025)
- Total Terminal Passengers: 25,438.4 thousand (Decrease of 5.7%)
- Domestic Passengers: 14,361.9 thousand (Decrease of 2.5%)
- International Passengers: 11,076.4 thousand (Decrease of 9.5%)
Material Changes vs. Prior Period
The filing highlights a divergence in performance across key airports for May 2026:
- Declines: Significant drops were recorded in Montego Bay (-19.1%), Puerto Vallarta (-14.4%), Tijuana (-9.8%), and Los Cabos (-6.0%). International traffic was the primary driver of the overall decline.
- Increases: Guadalajara was the only major hub to report growth, with a 7.1% increase in total traffic. La Paz (+15.1%) and Morelia (+8.4%) also saw notable gains.
- Capacity vs. Demand: Despite a 7.5% reduction in available seats, the load factor improved by 3.0 percentage points, indicating higher efficiency in utilizing remaining capacity.
Guidance, Outlook, and Risks
Management Commentary: The filing does not provide specific financial guidance or detailed management commentary beyond the traffic statistics.
Forward-Looking Statements: The document includes standard disclaimers that statements regarding future economic circumstances, industry conditions, and company performance are based on current estimates and are subject to risks and uncertainties. There is no guarantee that expected trends will occur.
Risks and Contingencies: No specific new risks or contingencies were detailed in this report. The filing references general risks related to economic and market conditions.
Investor Verification Checklist
- Verify the cause of the 19.1% decline in Montego Bay traffic and its impact on the company's international revenue mix.
- Confirm whether the 7.5% reduction in available seats is a strategic capacity cut or a result of airline schedule reductions.
- Review upcoming quarterly financial reports to determine the revenue impact of the 4.1% traffic decline, given the lack of financial data in this filing.
- Monitor the sustainability of the 84.1% load factor in the context of reduced seat availability.
- Assess the performance of Guadalajara (the only major growth hub) to understand if it can offset declines in tourist destinations like Puerto Vallarta and Los Cabos.