Pacifico has healthy exposure to domestic and international travel in Mexico.
Grupo Aeroportunario del Pacifico, or Pacifico, has been designated as the provisional preferred bidder for the Norman Manley International Airport in Kingston, Jamaica. Eight companies were approved by the Development Bank of Jamaica--the entity administering the process--as viable bidders for the Kingston concession but only three responded to the request for proposal. Transaction details have yet to be finalized, which means we’re leaving our $116 fair value estimate per ADR (MEX 217 for loca...Grupo Aeroportuario del Pacifico operates concessions to operate one international airport in Jamaica and twelve airports, which serve two major metropolitan areas (Guadalajara and Tijuana), several tourist destinations (Puerto Vallarta, Los Cabos, La Paz and Manzanillo), and a number of mid-sized cities (Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis). All of Co.'s airports are equipped to receive international flights and maintain customs, refueling and immigration services by the Mexican government. Also, Co. leases space to restaurants and retailers at its airports. In 2016, Co.'s airports served a total of approximately 32.6 million terminal passengers.
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