{"id":484587,"date":"2021-04-29T09:56:39","date_gmt":"2021-04-29T13:56:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/grupo-aeroportuario-del-pacifico-announces-results-for-the-first-quarter-of-2021\/"},"modified":"2021-04-29T09:56:39","modified_gmt":"2021-04-29T13:56:39","slug":"grupo-aeroportuario-del-pacifico-announces-results-for-the-first-quarter-of-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/grupo-aeroportuario-del-pacifico-announces-results-for-the-first-quarter-of-2021\/","title":{"rendered":"Grupo Aeroportuario del Pacifico Announces Results for the First Quarter of 2021"},"content":{"rendered":"
\n

GUADALAJARA, Mexico, April 29, 2021 (GLOBE NEWSWIRE) — Grupo Aeroportuario del Pac\u00edfico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (\u201cthe Company\u201d or \u201cGAP\u201d) reported its consolidated results for the first quarter ended March 31, 2021 (1Q21). Figures are unaudited and have been prepared in accordance with International Financial Reporting Standards (\u201cIFRS\u201d) as issued by the International Accounting Standards Board (\u201cIASB\u201d).<\/p>\n

\n COVID-19 Impact<\/strong>\n <\/p>\n

During the first quarter of the year, the COVID-19 pandemic continued to affect the Company\u2019s results, mainly due to the decrease in domestic and international passenger traffic compared to 1Q20. Containment steps, such as those taken by the United States government which expanded the requirement for negative COVID-19 testing for all air passengers entering the United States beginning January 26, 2021 also affected passenger traffic. As of January 7, 2021, there were similar testing requirements for air passengers traveling to Canada, and subsequently, the Canadian government suspended flights between Mexico and the Caribbean, further contributing to a decrease in passenger traffic levels compared to 1Q20.<\/p>\n

As previously mentioned, the degree of recovery of the Company\u2019s operations and results will depend on the duration and containment of the pandemic by the Mexican, Jamaican and U.S. governments, as the main origin-destination. Due to the nature of the pandemic, the Company cannot fully estimate the impact on its financial situation or operating results in the short, medium or long term. However, the rate of vaccination by the U.S. government may aid in a sooner than expected recovery in international traffic, mainly at the Company\u2019s airports in tourist destinations.<\/p>\n

\n Company measures during 1Q21:<\/strong>\n <\/p>\n