GUADALAJARA, Mexico, July 24 PAC-AeroCalif-Suspend
GUADALAJARA, Mexico, July 24 /PRNewswire-FirstCall/ -- Grupo Aeroportuario
del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the "Company" or "GAP")
today made an announcement to the market regarding Aerocalifornia's operations
at GAP's airports, per the announcement issued by the Mexican Ministry of
Communications and Transportation (Secretaria de Comunicaciones y Transportes)
regarding the suspension of Express Jet and Aerocalifornia within Mexican air
space due to alleged non-payment for rights to use national air space. The
Company is unable to determine how long these suspensions will last, and the
impact on GAP will depend on their length.
It is important to note that at the close of June 2008, Aerocalifornia
represented 6.1% of GAP's total traffic.
Aerocalifornia currently has operations in five of the Company's 12
airports (Guadalajara, Hermosillo, La Paz, Los Mochis and Tijuana),
representing over 40% of total traffic in the La Paz and Los Mochis airports,
which in terms of size, are the seventh and eleventh airports, respectively.
During the month of June, Aerocalifornia had 230 departures at the
Company's airports. Aerocalifornia's only exclusive routes were Los Mochis --
Ciudad Obregon (4 weekly outbound frequencies) and Tijuana -- Tepic (one
weekly outbound frequency), representing less than 7% of Aerocalifornia's
total operations with GAP.
Regarding Express Jet's suspension, the Company estimates that its impact
will be minimal since that company is not a direct client of GAP but rather
offers services to Delta and Continental. According to an announcement by
Continental Airlines, its flights in Mexico will not be affected by Express
Jet's suspension.
This report may contain projections or other forward-looking statements
related to GAP that involve risks and uncertainties. Readers are cautioned
that these statements are only projections of future events based on
assumptions and estimates GAP believes to be reasonable, but these projections
may differ materially from actual future results or events. Factors that could
cause actual results to differ materially and adversely include, but are not
limited to: changes in general economic, business or political or other
conditions in Mexico, changes in general economic, business or political or
other conditions in the United States or changes in general economic or
business conditions in Latin America, the price of fuel, inflation rates,
exchange rates, regulatory developments, customer demand and competition,
changes in the performance or terms of our concessions, developments in legal
proceedings, changes in capital markets in general that may affect policies or
attitudes towards lending to Mexico or Mexican companies, increased costs,
unanticipated increases in financing and other costs or the inability to
obtain additional debt or equity financing on attractive terms. Readers are
referred to the documents filed by GAP with the United States Securities and
Exchange Commission, specifically the most recent filing on Form 20-F which
identifies important risk factors that could cause actual results to differ
from those contained in the forward-looking statements. All forward-looking
statements are based on information available to GAP on the date hereof, and
GAP assumes no obligation to update such statements.
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".
For further information please visit: www.aeropuertosgap.com.mx.
SOURCE Grupo Aeroportuario del Pacifico, S.A.B. de C.V.
