GUADALAJARA, Mexico, July 14, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ("the Company" or "GAP") reports its consolidated results for the second quarter ended June 30, 2026 (2Q26). The results presented in this report include the effects of the business combination effective May 1, 2026. The figures are unaudited and have been prepared following International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").
Summary of Results 2Q26 vs. 2Q25
-- The sum of aeronautical and non-aeronautical services revenues increased
by Ps. 399.0 million, or 4.9%. Total revenues increased by Ps. 407.7
million, or 3.7%.
-- Cost of services increased by Ps. 360.7 million, or 23.2%.
-- Income from operations increased by Ps. 407.6 million, or 8.9%.
-- EBITDA increased by Ps. 462.0 million, or 8.4%, an increase from Ps.
5,503.3 million in 2Q25 to Ps. 5,965.3 million in 2Q26. EBITDA margin
(excluding the effects of IFRIC-12) went from 67.1% in 2Q25 to 69.3% in
2Q26.
-- Comprehensive income increased by Ps. 215.4 million, or 9.6%, from an
income of Ps. 2,234.9 million in 2Q25 to an income of Ps. 2,450.3 million
in 2Q26.
Business Combination:
Effective May 1, 2026, the Company began recognizing the effects of the business combination involving the Cross Border Xpress ("CBX") operations and the internalization of technical assistance and technology transfer services approved by the Extraordinary General Shareholders' Meeting held on December 11, 2025, following the execution of the merger agreement on April 30, 2026. As a result of the merger, GAP issued 89,740,731 new net shares and currently has 595,018,195 shares outstanding, consisting of 519,226,576 Series B shares and 75,791,619 Series BB shares. In addition, the equity purchase agreement for the acquisition of the remaining 25% equity interest in CBX was completed, resulting in GAP consolidating 100% ownership of this business. Following the effectiveness of the merger, GAP assumed control of the merged entities to ensure the continuity of service provision, as well as the operation and management of CBX.
The business combination resulted in an increase in cash and cash equivalents of Ps. 5,427.1 million, accounts receivable of Ps. 86.7 million, intangible assets of Ps. 6,899.8 million, goodwill of Ps. 30,803.3 million, and machinery, equipment and improvements to leased buildings of Ps. 2,325.1 million, and the acquisition of OTV land for US$50.0 million (equivalent to Ps. 935.0 million). It also resulted in the recognition of liabilities, primarily comprising bank loans of Ps. 1,305.4 million, unrealized revenue of Ps. 337.7 million, accounts payable of Ps. 234.4 million, and deferred income tax of Ps. 216.9 million.
Based on the Company's assessment, the merger qualifies as a business combination. Accordingly, the excess of the consideration transferred over the book value of the net assets acquired was recognized as non-current assets in the form of goodwill and identifiable intangible assets.
The Company is currently in the process of determining the fair values arising from the business combination. Accordingly, the amounts presented in the consolidated financial statements included in this report are preliminary and remain subject to change.
Passenger Traffic
During 2Q26, the 14 airports operated by GAP recorded a decrease of 891.6 thousand total passengers, representing a 5.6% decrease compared to 2Q25.
During this period, the following new routes were inaugurated:
Domestic
Airline Departure Arrival Opening date Frequencies Volaris Guadalajara Queretaro June 1, 2026 4 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Guadalajara Reynosa June 1, 2026 1 daily ------------- --------------- ---------------- ------------- ----------- Volaris Guadalajara San Luis Potosi June 1, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Los Cabos Puebla June 1, 2026 4 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Guanajuato Puebla June 1, 2026 4 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Tijuana Merida June 1, 2026 4 weekly ------------- --------------- ---------------- ------------- ----------- Aerus Aguascalientes Monterrey June 1, 2026 6 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Guadalajara Zacatecas June 2, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Puerto Vallarta Puebla June 2, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Puerto Vallarta Aguascalientes June 2, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Puerto Vallarta San Luis Potosi June 2, 2026 4 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Tijuana Puerto Escondido June 2, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Aguascalientes Puebla June 2, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Aguascalientes Puerto Vallarta June 2, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Viva Aguascalientes Santa Lucia June 15, 2026 1 daily ------------- --------------- ---------------- ------------- ----------- (Note: Frequencies can vary without prior notice.) International Airline Departure Arrival Opening date Frequencies Volaris Guadalajara Salt Lake City June 1, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Volaris Guadalajara Detroit June 1, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- Southwest Los Cabos Las Vegas June 4, 2026 1 daily ------------- --------------- ---------------- ------------- ----------- Wingo Montego Bay Medellin June 23, 2026 3 weekly ------------- --------------- ---------------- ------------- ----------- (Note: Frequencies can vary without prior notice.)
Domestic Terminal Passengers -- 14 airports (in thousands):
Airport 2Q25 2Q26 Change 6M25 6M26 Change
Guadalajara 3,090.9 3,186.0 3.1% 6,112.1 6,221.6 1.8%
-------- -------- ----- -------- -------- -----
Tijuana * 2,139.2 1,973.6 (7.7%) 4,196.7 3,942.2 (6.1%)
-------- -------- ----- -------- -------- -----
Los Cabos 739.7 723.3 (2.2%) 1,408.6 1,351.6 (4.0%)
-------- -------- ----- -------- -------- -----
Puerto Vallarta 830.4 779.2 (6.2%) 1,484.0 1,424.0 (4.0%)
-------- -------- ----- -------- -------- -----
Montego Bay 0.0 0.0 0.0% 0.0 0.0 0.0%
-------- -------- ----- -------- -------- -----
Guanajuato 576.8 533.8 (7.4%) 1,092.3 1,044.7 (4.4%)
-------- -------- ----- -------- -------- -----
Hermosillo 545.5 497.2 (8.9%) 1,054.2 977.8 (7.3%)
-------- -------- ----- -------- -------- -----
Kingston 0.1 0.1 52.4% 0.2 0.8 417.5%
-------- -------- ----- -------- -------- -----
Morelia 173.1 171.9 (0.7%) 359.2 364.7 1.5%
-------- -------- ----- -------- -------- -----
Mexicali 305.7 266.5 (12.8%) 598.8 524.3 (12.4%)
-------- -------- ----- -------- -------- -----
La Paz 328.1 357.7 9.0% 608.7 671.5 10.3%
-------- -------- ----- -------- -------- -----
Aguascalientes 167.4 160.8 (3.9%) 319.2 299.7 (6.1%)
-------- -------- ----- -------- -------- -----
Los Mochis 179.4 175.5 (2.1%) 344.4 338.8 (1.6%)
-------- -------- ----- -------- -------- -----
Manzanillo 31.4 28.6 (8.7%) 66.1 61.3 (7.3%)
-------- -------- ----- -------- -------- -----
Total 9,107.6 8,854.3 (2.8%) 17,644.5 17,222.8 (2.4%)
International Terminal Passengers -- 14 airports (in
thousands):
Airport 2Q25 2Q26 Change 6M25 6M26 Change
Guadalajara 1,387.2 1,498.9 8.1% 2,894.2 2,991.1 3.3%
-------- -------- ----- -------- -------- -----
Tijuana * 1,051.8 950.1 (9.7%) 2,066.7 1,847.7 (10.6%)
-------- -------- ----- -------- -------- -----
Los Cabos 1,224.4 1,084.3 (11.4%) 2,607.3 2,457.0 (5.8%)
-------- -------- ----- -------- -------- -----
Puerto Vallarta 849.1 619.0 (27.1%) 2,321.6 1,897.9 (18.2%)
-------- -------- ----- -------- -------- -----
Montego Bay 1,264.7 991.9 (21.6%) 2,603.6 1,909.3 (26.7%)
(MORE TO FOLLOW) Dow Jones Newswires
July 14, 2026 01:00 ET
Comments