Pacific Airport Group 6-K, filed Nov 30, 2020
Pacific Airport Group (PAC)
About this 6-K
Pacific Airport Group filed this 6-K on November 30, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE
ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
November 2020
Commission File Number: 001-32751
GRUPO AEROPORTUARIO DEL PACÍFICO S.A.B. DE C.V.
(PACIFIC AIRPORT GROUP)
(Translation of registrant's name into English)
México
(Jurisdiction of incorporation or organization)
Avenida Mariano Otero No. 1249-B
Torre Pacifico, Piso 6
Col. Rinconada del Bosque
44530 Guadalajara, Jalisco, México
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Grupo Aeroportuario del Pacifico Announces Conclusion of Extraordinary Review Process of the Master Development Program for the Mexican Airports
GUADALAJARA, Mexico, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Grupo Aeroportuario
del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announced that it
has concluded the Extraordinary Review Process for the Master Development Program for the Mexican airports for the 2020 to
2024 period.
During the month of August, the Company filed a proposal for the adjustment of the Master Development Program (MDP) to the Aeronautical Authority, thus postponing investments by approximately 20 months. As such, certain investments that were scheduled to conclude in 2024 will now conclude in 2026.
In the new MDP, the same projects that were previously agreed upon with the authorities will remain, however, the initiation and termination timeframes will change; the scope of the projects will essentially remain the same.
The mandatory investment amounts of the Master Development Program that resulted from the Extraordinary Review were the following:
| Airport | 2020 | 2021 | 2022 | 2023 | 2024 | TOTAL |
| Guadalajara | 1,095,712 | 1,148,523 | 1,843,155 | 1,063,267 | 1,180,132 | 6,330,791 |
| Tijuana | 796,943 | 1,465,857 | 438,001 | 161,784 | 118,382 | 2,980,967 |
| Los Cabos | 395,869 | 496,216 | 272,952 | 236,278 | 177,928 | 1,579,243 |
| Puerto Vallarta | 205,956 | 450,956 | 660,397 | 901,625 | 807,678 | 3,026,612 |
| Guanajuato | 57,390 | 88,614 | 33,273 | 69,521 | 53,081 | 301,879 |
| Hermosillo | 57,959 | 93,970 | 53,066 | 29,849 | 56,805 | 291,649 |
| La Paz | 115,819 | 92,343 | 40,968 | 24,129 | 20,773 | 294,032 |
| Mexicali | 32,385 | 47,818 | 46,077 | 57,672 | 23,755 | 207,708 |
| Aguascalientes | 78,883 | 98,106 | 53,676 | 26,339 | 23,040 | 280,044 |
| Morelia | 32,716 | 51,576 | 35,098 | 50,682 | 19,510 | 189,582 |
| Los Mochis | 40,426 | 40,980 | 11,069 | 53,338 | 31,097 | 176,911 |
| Manzanillo | 26,439 | 48,629 | 30,176 | 21,757 | 15,670 | 142,671 |
| TOTAL | 2,936,500 | 4,123,588 | 3,517,909 | 2,696,240 | 2,527,851 | 15,802,088 |
| Figures are expressed in thousands of Mexican pesos with acquisition power as of December 31, 2017; as such these will be updated based on the National Producer Price Index (NPPI), construction sector, upon execution. | ||||||
As a result of the change in committed investments, as well as the remaining assumptions included in the Extraordinary
Review, the new Maximum Tariffs that are applicable per workload unit are the following:
| Airport | 2021 | 2022 | 2023 | 2024 |
| Guadalajara | 216.86 | 215.34 | 213.83 | 212.33 |
| Tijuana | 165.57 | 164.41 | 163.26 | 162.12 |
| Los Cabos | 304.93 | 302.80 | 300.68 | 298.58 |
| Puerto Vallarta | 303.71 | 301.58 | 299.47 | 297.37 |
| Guanajuato | 226.89 | 225.30 | 223.72 | 222.15 |
| Hermosillo | 169.49 | 168.30 | 167.12 | 165.95 |
| La Paz | 186.65 | 185.34 | 184.04 | 182.75 |
| Mexicali | 162.06 | 160.93 | 159.80 | 158.68 |
| Aguascalientes | 175.50 | 174.27 | 173.05 | 171.84 |
| Morelia | 265.85 | 263.99 | 262.14 | 260.31 |
| Los Mochis | 192.76 | 191.41 | 190.07 | 188.74 |
| Manzanillo | 232.02 | 230.40 | 228.79 | 227.19 |
| These passenger charges have been adjusted at an annual efficiency rate of 0.7% and are expressed in Mexican pesos as of December 31, 2017, as such, they will be updated per the National Producer Price Index (NPPI), excluding petroleum. | ||||
Company Description:
Grupo Aeroportuario del Pacífico, 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, 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”. In April 2015, GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.
| This press release may contain forward-looking statements. These statements are statements that 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 condition, 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 June involve criminal conduct or violations. The
telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47.
The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate
investigation.
| IR Contacts: | |
| Saúl Villarreal, Chief Financial Officer | svillarreal@aeropuertosgap.com.mx |
| Alejandra Soto, IR, Finance and Financial Planning Manager | asoto@aeropuertosgap.com.mx |
| Gisela Murillo, Investor Relations | gmurillo@aeropuertosgap.com.mx / +52-33-3880-1100 ext.20294 |
| Maria Barona, i-advize Corporate Communications | mbarona@i-advize.com |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Grupo Aeroportuario del Pacífico, S.A.B. de C.V. | ||
| (Registrant) | ||
| Date: November 27, 2020 | /s/ SAÚL VILLARREAL GARCÍA | |
| Saúl Villarreal García | ||
| Chief Financial Officer | ||