Grupo Aeroportuario del Pacifico Reports on the Announcement of Avolar's Suspension
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Grupo Aeroportuario del Pacifico Reports on the Announcement of Avolar's
Suspension
GUADALAJARA, Mexico, Aug. 5 /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 Avolar'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 Avolar and Novair within Mexican air space due to
alleged non-payment for rights to use national air space. The suspension will
become effective today at noon (Mexico Time), unless payment is made.
The Company is unable to determine how long these suspensions will last,
and the impact on GAP will depend on their length and the possibility of other
airlines to increase its seat offer.
It is important to note that during the period January-July 2008, Avolar
represented 5.1% of GAP's total traffic and operates at five of the Company's
twelve airports (Tijuana, Guadalajara, Hermosillo, Guanajuato and Morelia),
representing approximately 17% and 25% of total traffic in the Tijuana and
Morelia airports, respectively, approximately 14% of total traffic in the
Guanajuato airport, and approximately 3% of total traffic in each of the
airports of Guadalajara and Hermosillo.
During the month of July, Avolar had 940 departures at the Company's
airports. Avolar's only exclusive routes were Tijuana-Colima (with 26
outbound frequencies) and Tijuana-Uruapan (with 68 outbound frequencies).
Regarding Novair's suspension, the Company estimates that its impact will
be minimal since that company represented only 0.3% of total traffic for the
January-June period.
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 or
contact us:
In Mexico
Miguel Aliaga, Investor Relations Officer
Grupo Aeroportuario del Pacifico, S.A.B. de C.V.
Tel: 01 (333) 8801100 ext 216
maliaga@aeropuertosgap.com.mx
In the United States
Maria Barona / Peter Majeski
i-advize Corporate Communications
Tel: 212 406 3690
gap@i-advize.com
SOURCE Grupo Aeroportuario del Pacifico, S.A.B. de C.V.
Mexico, Miguel Aliaga, Investor Relations Officer, Grupo Aeroportuario del
Pacifico, +01-333-880-1100, ext 216, maliaga@aeropuertosgap.com.mx; United
States, Maria Barona or Peter Majeski, +1-212-406-3690, gap@i-advize.com, both
of i-advize Corporate Communications for Grupo Aeroportuario del Pacifico
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