GAP minus 26% in Mexico

By Administrator |

Mexican airports operator Grupo Aeroportuario del Pacifico (GAP) said on Wednesday that its fourth-quarter net profit fell by 26% as the global economic crisis hit demand in the airline industry.

GAP earned Ps.405.6m ($29m) in the October-December period, compared with Ps.547m ($36m) in the same period of 2007.

The airports' company said that potential travellers were hurt by a tough economy and the fact that several Mexican airlines ran out of business, or suspended routes altogether – particularly in the fourth quarter. GAP says it now expects passenger traffic to fall between 3% and 5% this year.

GAP operates 12 airports in the Pacific region of Mexico, 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, Bajio, Morelia, Aguascalientes, Mexicali and Los Mochis.

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