Mexico’s Pacific Airport Group charts US $2.5B airport expansion amid tourism boom

Mexico’s Grupo Aeroportuario del Pacífico (GAP) — Pacific Airport Group — reiterated connected Tuesday that it volition marque a grounds concern of 52 cardinal pesos (US $2.54 billion) implicit the adjacent 5 years to modernize and grow its 12 airports successful the cardinal and occidental parts of the country.

The plan, a 20% summation from an archetypal proposal, is the largest successful GAP’s history, the institution noted portion formally presenting its Master Development Plan for 2025 to 2029.

🏗️✈️En los próximos 5 años, @Aeropuerto_GDL vivirá una transformación misdeed precedentes:

🔸22 mil millones de pesos en inversión. 🔸Nuevo edificio… pic.twitter.com/XHZ24z5KkX

— Grupo Aeroportuario del Pacífico (@aeropuertosGAP) February 12, 2025

Initially announced past August and already approved by the corresponding national authorities, the program calls for a five-year spending full adjacent to GAP’s full investments implicit the erstwhile 20 years, CEO Raúl Revuelta Musalem said.

GAP operates airports that service the metropolitan areas of Guadalajara and Tijuana; the medium-sized cities of Morelia, Hermosillo, Los Mochis, Aguascalientes, León and Mexicali; and the tourer destinations of Puerto Vallarta, La Paz, Los Cabos and Manzanillo.

According to reports, astir 50% of the concern volition money a caller 69,000-square-meter terminal astatine Guadalajara International Airport, with 32% going toward a caller 74,000-square-meter terminal astatine Puerto Vallarta International Airport and expansions astatine Tijuana and Los Cabos (San José del Cabo).

“The interaction of this concern … goes acold beyond mobility,” Laura Diez Barroso, seat of the firm’s committee of directors, said successful a statement. “Airports make jobs, fortify economies and facilitate commercialized with the world.”

GAP operates the airports serving Mexico’s Bajío and Pacific seashore states. (@aeropuertosGAP/X)

According to the company, the Guadalajara terminal expansion volition summation infrastructure by 73% and see a caller entree road; and successful Puerto Vallarta, the concern successful a caller terminal volition treble the airport’s capableness and volition diagnostic an elevated walkway to the main entree roadworthy to easiness traffic.

Tijuana’s terminal volition grow by 47%, adding a caller boarding country with 7 apron positions, portion Los Cabos’ Terminal 2 volition turn by 32% with improvements to its roadworthy system, the institution said.

Revuelta called the program “truly aggressive” and said the superior demonstrates “GAP’s committedness to investing successful Mexico” contempt “a batch of governmental noise, peculiarly with the United States.”

Overall, the upgrades volition effect successful a 50% summation successful terminal capacity, a 45% summation successful inspection points and a 25% enlargement of craft platforms, GAP noted.

The institution has issued 6 cardinal pesos (US $293 million) successful semipermanent bonds to concern the program and expects to question much funds aboriginal this year. GAP’s shares connected the New York Stock Exchange roseate 9.34% implicit the past 40 days, closing astatine US $195.41 connected Feb. 11, aft starting the twelvemonth astatine US $178.10.

Also, GAP confirmed its bid for the Turks and Caicos airport, with a determination expected by the extremity of the month. The radical besides operates the Kingston and Montego Bay airports successful Jamaica.

With reports from Forbes México and Bloomberg