PAC · Grupo Aeroportuario del Pacífico, S.A.B. de C.V.

Grupo Aeroportuario del Pacífico's announcement marks a strategic step to diversify its funding sources for substantial airport infrastructure expansion. By establishing FIBRA GAP, an irrevocable trust for energy and infrastructure investment certificates, the company plans to attract external capital through a minority equity stake in its 12 Mexican airport concessionaires. This structure provides an alternative to the debt securities GAP has issued since 2015, potentially reducing reliance on leverage while funding the ambitious Master Development Program totaling approximately Ps. 40.0 billion over 2026–2029. The program's scope is transformative, targeting a 60% expansion in terminals, 35% growth in inspection points and access areas, 25% more aircraft parking positions, and 10% increase in airside infrastructure. These enhancements directly support capacity growth amid rising air travel demand in key Pacific region hubs like Guadalajara and Tijuana, as well as tourist destinations such as Puerto Vallarta and Los Cabos. Beyond physical upgrades, the investments are positioned to drive local economic development via job creation and multiplier effects, aligning with broader regional benefits. For investors, this signals proactive capital markets access and commitment to long-term growth, though forward-looking elements like trust formation and fund deployment remain subject to execution risks noted in the release.