About Grupo Aeroportuario del Pacífico (GAP)
Grupo Aeroportuario del Pacífico (GAP) is a leading airport management and operations company in Mexico and Jamaica, responsible for 14 terminals. The company’s recent financial report for the third quarter of 2025 reveals record income, driven by a 2.5% increase in passenger traffic across its network.
Financial Performance
GAP reported total income of over 9,500 million pesos, marking a 16.3% increase compared to the same period in the previous year. The Mexican operations, which account for 789.6 million pesos or 20.5% of the total, were the primary contributors to this growth.
The report attributes this increase to newly approved airport tariffs for the 2025-2029 regulatory period and a 2.1% rise in passenger traffic during the quarter.
Passenger Traffic Growth
The growth in passenger traffic can be attributed to the establishment of 11 new domestic routes and 10 international routes. While Guadalajara airport saw a 4.3% increase compared to the same period in 2024, Tijuana airport experienced a 1.9% decrease.
Together, these two airports accounted for approximately 50% of the total passenger traffic, with 7.897 billion passengers.
Income from Jamaican Operations
GAP’s income from its Jamaican operations also benefited from increased US dollar earnings (3.5%), equivalent to 2.6 million USD. The favorable exchange rate, with the peso appreciating 1.5% against the US dollar (from 18.9229 to 18.6456 pesos per USD), further boosted these earnings.
Non-Aeronautical Revenue
Non-aeronautical revenue saw growth due to the consolidation of cargo and duty-free business income, contributing 168.9 million pesos or a 47.7% increase. Income from third-party operated businesses rose by 31.9 million pesos (3.5%) due to the opening of commercial spaces and renegotiation of contracts.
Profitability
Net income during the quarter increased to 713.2 million pesos, representing a 36% growth compared to the same period in the previous year.
Key Questions and Answers
- What is Grupo Aeroportuario del Pacífico (GAP)? GAP is a leading airport management and operations company in Mexico and Jamaica, responsible for 14 terminals.
- What factors contributed to GAP’s record income? The primary factors were a 2.5% increase in passenger traffic, newly approved airport tariffs, and increased US dollar earnings from Jamaican operations.
- Which airports saw growth in passenger traffic? Guadalajara airport experienced a 4.3% increase, while Tijuana airport saw a 1.9% decrease.
- How did non-aeronautical revenue perform? Non-aeronautical revenue grew due to consolidated cargo and duty-free business income and increased third-party operated businesses’ income.
- What was the net income growth for GAP? Net income increased by 36% compared to the same period in the previous year.
