Grupo Aeroportuario del Pacífico December Traffic Up 0.1%, Seats +10.6%, Load Factor Drops to 77.4%
Grupo Aeroportuario del Pacífico's December 2025 total passenger traffic grew 0.1% year-over-year, driven by a 4.2% rise at its 12 Mexican airports (Guadalajara +9.2%, Puerto Vallarta +4.0%) offset by a 43.8% plunge at Montego Bay. Available seats increased 10.6% but load factors dropped from 85.5% to 77.4%.
1. December 2025 Passenger Traffic Marginally Up 0.1%
Grupo Aeroportuario del Pacífico reported total terminal passenger traffic of 5.874 million in December 2025, a 0.1% increase over the 5.867 million recorded in December 2024. Year-to-date traffic reached 63.686 million, up 2.5% from 62.156 million in 2024. While overall growth was minimal, the company highlighted steady resilience across its 12-airport network.
2. Strong Growth at Key Mexican Hubs, Caribbean Declines
Mexican airports under GAP delivered a 4.2% traffic increase in December, driven by Guadalajara’s 9.2% gain to 1.847 million and Puerto Vallarta’s 4.0% rise to 713 thousand. Conversely, Tijuana and Los Cabos saw declines of 2.7% and 1.2%, respectively. Jamaican operations in Montego Bay and Kingston fell 43.8% and 2.9% due to hurricane-related disruptions.
3. Capacity Expansion and Load Factor Pressure
Available seat capacity in December rose 10.6% versus the prior year, but load factors slipped from 85.5% to 77.4%. The mismatch reflects an aggressive route expansion strategy, with 12 new international links introduced, including Guadalajara-Calgary, Puerto Vallarta-Ottawa and Los Cabos-Las Vegas.
4. Strategic Implications for Investors
The minimal overall growth masks strong performance at core Mexican tourist airports and underscores weather-related vulnerabilities in the Caribbean. Investors should monitor recovery at Jamaican gateways and the impact of increased capacity on yield. The new routes enhance network connectivity, supporting mid-term traffic and revenue diversification.