What are the Challenges Facing GAP in the Near Term?

Justin Lee

Singapore

April 12, 2021

GAP Guadalajara 1

Just like other airport operators, 2020 was a difficult year for Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) due to the outbreak of the COVID-19 pandemic which caused unprecedented disruptions to the global air travel industry.

GAP Airport Network – Source: GAP Corporate Presentation

In the past year, GAP’s 12 airports in Mexico and 2 airports in Jamaica saw a year-on-year decline in passenger traffic by 43.9% to 27.3 million passengers. With the drastic decline in passenger traffic, the airport operator also faced a 26.9% decline in revenues to MXN 11.9b and a 52.4% decline in operating income to MXN 3.9b. The airport operator’s balance sheet at the end of the year 2020 appears to present its financial position on a more positive note.

GAP Shareholders’ Structure – Source: GAP Corporate Presentation

GAP’s current assets saw an increase by 79.8% to MXN 16.8b while current liabilities increased by 12.5%,  translating into an increase in the current ratio from 2.00 at the end of 2019 to 3.19 at the end of 2020. The current ratio of 3.19 indicates that current assets of the company are more than sufficient to cover current liabilities.

Subscriber-only content. You must be signed in and have a subscription plan to view this information.

Not a member of airportIR?

Subscribers receive access to value-added content including the latest Deal Pipeline intel, in-depth feature articles and analysis, operator/investor profiles, industry insights, reports and much more.

What's Included

  • In-depth deal pipeline content
  • Feature articles and analysis
  • Detailed operator/investor profiles
  • Industry insights, reports and much more

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin faucibus arcu et sem dapibus, faucibus viverra ex semper. Sed maximus urna quis lectus porta gravida. Sed enim sem, ullamcorper at tempor et, tincidunt eget purus. Etiam vitae iaculis dolor. Etiam commodo tempus turpis. Integer ac nunc ac leo facilisis tempus. Pellentesque quis sagittis diam. Fusce congue pulvinar interdum. Curabitur porta libero enim, ullamcorper condimentum diam accumsan quis. In tempor egestas risus, id congue nibh cursus in. Cras sollicitudin fermentum orci et eleifend.

Nam eget imperdiet risus, at luctus nulla. Nullam porttitor, est quis viverra fringilla, ipsum velit tincidunt massa, vel egestas lacus velit eget mauris. Proin finibus condimentum tellus, in commodo felis dapibus a. Curabitur luctus et sapien a dapibus. Mauris faucibus dapibus justo vitae varius. Proin quis mauris eros. Curabitur tincidunt feugiat dignissim.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin faucibus arcu et sem dapibus, faucibus viverra ex semper. Sed maximus urna quis lectus porta gravida. Sed enim sem, ullamcorper at tempor et, tincidunt eget purus. Etiam vitae iaculis dolor. Etiam commodo tempus turpis. Integer ac nunc ac leo facilisis tempus.