Grupo Aeroportuario del Pacifico Pronounces Amendments to the Concession Settlement of Jamaican Airports By Investing.com

GUADALAJARA, Mexico, July 26, 2024 (GLOBE NEWSWIRE) — Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (the Firm or GAP) declares that it has signed amendments to the Concession Settlement with the Airports Authority of Jamaica (AAJ) related to the Montego Bay and Kingston Airports, derived from the consequences suffered by the Concessionaires through the COVID-19 pandemic. The primary amendments have been the next:

Montego Bay Airport: The Concession Interval will expire thirty-one (31) years after the graduation date, in March 2034. This represents one further 12 months to the unique Concession Interval.

Kingston Airport: Concession Payment modifications from 62.01% of the Gross Revenues to 53.22%, from the Efficient Date, which is September 11, 2023. Accordingly, the quantities paid to the proprietor (AAJ) in extra from the Efficient Date shall be reimbursed to the Concessionaire as soon as the Extension of the Runway begins (the principle challenge of the Capital Works), with the handover of the positioning to the contractor will being the set off. The advantage of this alteration shall be acknowledged retroactively in our Revenue Assertion of 2024.

Firm Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports all through Mexico’s Pacific area, together with the most important cities of Guadalajara and Tijuana, the 4 vacationer locations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and 6 different mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares have been listed on the New York Inventory Trade underneath the ticker image PAC and on the Mexican Inventory Trade underneath the ticker image GAP. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Restricted, an organization working Sangster Worldwide Airport in Montego Bay, Jamaica. In October 2018, GAP entered right into a concession settlement for the Norman Manley Worldwide Airport operation in Kingston, Jamaica, and took management of the operation in October 2019.

This press launch might comprise forward-looking statements. These statements are statements that aren’t historic information and are primarily based on administration’s present view and estimates of future financial circumstances, trade circumstances, firm efficiency, and monetary outcomes. The phrases anticipates, believes, estimates, expects, plans and comparable expressions, as they relate to the corporate, are supposed to determine forward-looking statements. Statements relating to the declaration or fee of dividends, the implementation of principal working and financing methods and capital expenditure plans, the route of future operations, and the components or traits affecting monetary situation, liquidity, or outcomes of operations are examples of forward-looking statements. Such statements mirror the present views of administration and are topic to a lot of dangers and uncertainties. There is no such thing as a assure that the anticipated occasions, traits, or outcomes will happen. The statements are primarily based on many assumptions and components, together with basic financial and market circumstances, trade circumstances, and working components. Any modifications in such assumptions or components might trigger precise outcomes to vary materially from present expectations.

In accordance with Part 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the Ley del Mercado de Valores, GAP has applied a whistleblower program, which permits complainants to anonymously and confidentially report suspected actions that contain prison conduct or violations. The phone quantity in Mexico, facilitated by a 3rd occasion accountable for gathering these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The web site is www.lineadedenunciagap.com or by electronic mail at denuncia@lineadedenunciagap.com. GAP’s Audit Committee shall be notified of all complaints for speedy investigation.

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Supply: Grupo Aeroportuario del Pacífico, S.A.B. de C.V.