GUADALAJARA, Mexico,
May 8 /PRNewswire-FirstCall/ -- Grupo Aeroportuario
del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ("the Company" or "GAP")
today announced preliminary terminal passenger traffic figures for the month
of
April 2008 compared to traffic figures for
April 2007.
During April 2008, total terminal passengers decreased 5.3% compared to
the previous year; international passenger traffic decreased 3.0%, while
domestic passenger traffic decreased 6.6% compared to April 2007. It is
important to mention that in 2008 the Holy Week holiday took place during the
month of March, whereas in 2007 it took place during the month of April.
Therefore, results for April 2008 versus April 2007 are not comparable.
Compared to April 2007, domestic terminal passenger traffic in April 2008
registered a decrease of 86.8 thousand passengers. This was mainly due to the
seasonality of the vacation period for the Holy Week holiday between 2008 and
2007, as well as the decline in operations of some of the airlines.
In the case of the Tijuana airport, the decrease in passenger traffic was
mainly due to the reduction in traffic on the routes to Guadalajara, Mexico
City, Guanajuato, Monterrey, Morelia, La Paz and Uruapan. Part of decline can
be attributable to the substitution effect, since in 2007 certain price-
sensitive passengers chose to fly to the southern California area via Tijuana
and are currently flying to the U.S. directly. Additionally, this decrease was
due to the decline in operations from Aviacsa, Aeromexico and Aeromexico
Connect at this airport.
The decline in traffic at the La Paz airport was mainly due to the
reduction of traffic on the routes to Tijuana, Guadalajara, Mazatlan and
Hermosillo, mainly due to the cancellation of routes by Avolar and a reduction
in operations from Aeromexico and Aeromexico Connect.
In the case of the Guanajuato airport, the decline was mainly due to the
decrease in traffic on the routes to Tijuana and Toluca; in Tijuana the
decrease was due to the substitution effect of price-sensitive passengers, who
chose to travel to Southern California via Tijuana in 2007, but during 2008
are traveling on direct flights to the United States. The reduction of
passengers from Toluca was a result of Volaris no longer operating this route.
With respect to the Los Mochis airport, the decrease was due to the
decline in traffic on the routes to and from Guadalajara, Tijuana and
Hermosillo, as well as the decrease in operations of Aeromexico Connect.
Lastly, it is important to comment on the significant reduction of
Aviacsa's operations at many of the Company's airports during the month of
April as well as year-to-date 2008. We expect further decreases in operations
from this airline during this year, including the cancellation of operations
at several of our airports; however these routes are not exclusive, therefore
we expect that some of the flights will be gradually absorbed by other
airlines in the market.
International terminal passenger traffic registered a decrease of 20.6
thousand passengers, or 3.0%, compared to April 2007.
In the Guadalajara airport, the decline was mainly due to the cancellation
of the Chicago (Midway) route operated by ATA, which suspended operations on
April 4 due to financial problems. The decrease was also due to the decline in
passenger traffic on the Las Vegas and Oakland routes.
In the case of the Los Cabos airport, the decrease in international
passenger traffic was due to a decline in traffic on the routes to and from
Seattle, Chicago, Salt Lake City, Minneapolis and the California area.
Additionally, there was a negative effect on several routes due to American
Airlines' temporary suspension (approximately 1 week) as ordered by the FAA.
It is important to mention that during the first quarter 2008, American
Airlines represented approximately 14.1% of total passenger traffic at the Los
Cabos airport.
With respect the Morelia airport, its decrease was due to the reduction of
traffic on the routes to and from Chicago, Houston and the California area.
Low-Cost Carriers
At the close of April 2008, the weekly schedule of flights operated by
LCC's decreased by 73 weekly segments compared to March 2008, for a total of
971 frequencies and a total of 63 routes operated by these types of carriers.
The decline in frequencies was mainly due to a restructuring of routes and
frequencies by the airlines, with the objective of increasing profitability as
a result of the highly competitive environment and the increasing cost of jet
fuel.
During April 2008, a total of 554.2 thousand passengers were transported
by LCC's, representing approximately 44.8% of domestic passenger traffic for
this month.
Outlook
At the end of 2007, the Company announced that we expect total traffic
growth for 2008 at between 5-7% compared to 2007. We wish to mention that
this continues to be our expectation.
Company Description:
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (GAP) operates twelve
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".
This press release may contain forward-looking statements. These
statements are not historical facts, and are based on management's current
view and estimates of future economic circumstances, industry conditions,
company performance and financial results. The words "anticipates,"
"believes," "estimates," "expects," "plans" and similar expressions, as they
relate to the company, are intended to identify forward-looking statements.
Statements regarding the declaration or payment of dividends, the
implementation of principal operating and financing strategies and capital
expenditure plans, the direction of future operations and the factors or
trends affecting financial conditions, liquidity or results of operations are
examples of forward-looking statements. Such statements reflect the current
views of management and are subject to a number of risks and uncertainties.
There is no guarantee that the expected events, trends or results will
actually occur. The statements are based on many assumptions and factors,
including general economic and market conditions, industry conditions, and
operating factors. Any changes in such assumptions or factors could cause
actual results to differ materially from current expectations.
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 may involve criminal conduct
or violations. The telephone number in Mexico, facilitated by a third party
that is in charge of collecting these complaints, is 800-759-0045. GAP's Audit
Committee will be notified of all complaints for immediate investigation.
For more information, visit: http://www.aeropuertosgap.com.mx or contact:
In Mexico
Miguel Aliaga, Investor Relations Officer
Grupo Aeroportuario del Pacifico, S.A.B. de C.V.
Tel: 01 (333) 8801100 ext 216
maliaga@aeropuertosgap.com.mx
In the U.S.
Maria Barona / Peter Majeski
i-advize Corporate Communications
Tel: 212 406 3690
gap@i-advize.com
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