Grupo Aeroportuario del Pacifico (G9N) AI Stock Analysis

Company Guidance

GAP is maintaining its full year 2026 passenger traffic range of negative 3 to 0, which requires a meaningful improvement in fourth quarter traffic relative to the year-to-date trend and remains subject to capacity, demand conditions and the pace of recovery in its leisure markets; for the winter season, Jamaica is expected to recover almost 90% of the total original seats that we used to have 1 year ago, while Puerto Vallarta and Cabos are expected to see an increase in seats after Thanksgiving Day, and 2027 traffic is expected somewhere in the middle of mid-single digit, with mid-single digits, for sure for coming years; CBX revenue per passenger is expected to increase in the coming year, its EBITDA margin is expected to reach 72% to 73% in the long term and all possible synergies are expected to be fully implemented over the coming 24 months; Mexican tariffs are expected to increase in the first week of January by around 7%, with 95% fulfillment of the tariff for the coming year; committed CapEx has no change on the plan, while noncommitted investments remain flexible; FIBRA GAP is expected to be completed during November, and the next master plan could be something that goes between 50% or 60% of the master plan that we are doing today.