• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Grupo Aeroportuario del Pacifico Announces Changes to Passenger Charges

Posted on: Monday, 19 October 2009, 15:08 CDT

GUADALAJARA and JALISCO, Mexico, Oct. 19 /PRNewswire-FirstCall/ -- Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ("the Company" or "GAP") announced today information regarding passenger charges.

Passenger charges are fees charged to passengers by airports worldwide for the use of airport facilities. Airports use revenues from passenger charges to guarantee passenger safety and maintain, update and expand airport infrastructure. In general, passenger charges are collected by airlines on behalf of airports by adding a fee to the price of an airline ticket.

This process will continue as such for some of the airlines operating at GAP's airports. However, in the interest of the Company and certain airlines, beginning November 1, 2009, passengers that purchase tickets from certain airlines will pay passenger charges directly to the airport as they will not be included in the airline ticket price.

It is important to highlight that the amount charged to passengers will remain unchanged.

Grupo Aeroportuario del Pacifico will announce by November 1, 2009 which airlines will no longer collect passenger charges, in addition to details regarding the payment process at the Company's airports. In order to not inconvenience passengers, GAP will ensure that this process is efficient and seamless. Through this measure, GAP seeks to reduce accounts receivable and the risks associated with missed tariff payments, as well as ensuring the proper development of the airports' infrastructure.

Company Description:

Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (GAP) operates 12 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, Bajio, 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."

This press release may contain forward-looking statements. These statements are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates," "believes," "estimates," "expects," "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial conditions, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the "Ley del Mercado de Valores," GAP has implemented a "whistleblower" program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 800-759-0045. GAP's Audit Committee will be notified of all complaints for immediate investigation.

SOURCE Grupo Aeroportuario del Pacifico, S.A.B. de C.V.

Source: PR Newswire

More News in this Category