Browse > Home / Aeronautics News, Commercial / Grupo Aeroportuario del Pacifico Reports on the Announcement of Aerocalifornia’s Suspension

Grupo Aeroportuario del Pacifico Reports on the Announcement of Aerocalifornia’s Suspension

Written by thomas · Filed Under Aeronautics News, Commercial 

July 25, 2008

thomas

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: http://www.aeropuertosgap.com.mx.

SOURCE Grupo Aeroportuario del Pacifico, S.A.B. de C.V.

» Próximo Post - Security Screenings Get Easier – and Faster – with the Checkpoint Friendly(TM) Laptop Bag
« Post Aneterior - Air Transport Association Responds to House Vote Not to Release Strategic Petroleum Reserve

Comments

¿Tiene algo que decir?

You must be logged in to post a comment.