The company Pacific Airport Group (GAP) is expanding its five-year investment plan to 52 billion pesos, an increase of more than 20% compared to the initial announcement. GAP plans to finance a new terminal in Guadalajara, one of its fastest-growing airports, along with expansions in Puerto Vallarta, Tijuana, and Los Cabos.
In an interview, GAP's CEO, Raúl Revuelta, mentioned that the company usually combines local and international issuances, but this time they consider that the conditions of the domestic market are very competitive. Issuing in pesos eliminates some of the risk associated with currency volatility and the need for hedging.
The additional capital invested by GAP reaffirms its commitment to airport development in Mexico. Revuelta noted that the new five-year plan represents the entirety of the investments made by the company in the last two decades. The investment will finance the necessary infrastructure to drive the company's growth in the country.
In the midst of a noisy political environment, especially related to the United States, GAP has opted for an aggressive investment plan for the coming years. The company recently issued long-term bonds for 6 billion pesos to support this expansion plan.
Additionally, GAP is in the process of submitting a bid for the construction of an airport terminal in the Turks and Caicos Islands, with the expectation of receiving news about it by the end of the month. Revuelta emphasized the importance of having clear and stable rules to operate in the airport sector and assured that the company is prepared to face challenges and capitalize on opportunities that arise.
