Transportation Industry

Company Watch - GAP Airports

AirGuide Business, July 14, 2008

7/14/2008

GAP's June passenger traffic dropped 4.8 percent. Its passenger traffic declined 0.5 percent in May and was off 5.3 percent in April. GAP along with rivals Asur and OMA have suffered from the global airline crisis amid rising jet fuel prices and investors have dumped their stocks heavily in recent months. Passenger traffic has waned as airlines cancel routes or reduce their flight frequency as well as pass along their higher costs by raising ticket prices. GAP operates 12 airports along the Pacific coast region including terminals at Puerto Vallarta, Los Cabos and Tijuana. 7/15/2008

Mexican airport operator GAP now sees passenger traffic growth for this year between a range of minus 1 percent to plus 1 percent. GAP's revised forecast comes after the company posted three straight months of declining passenger traffic results to June. The company's previous forecast was for growth between 5 percent and 7 percent. The new view is "based in recent events that have raised the uncertainty regarding the traffic growth rate and income for 2008, including the effects of adverse US economic conditions as well as the high cost of fuel," the company said. 7/15/2008

Mexican airport operator GAP said on Tuesday its June passenger traffic fell 4.8 percent, hurt by fewer flights and the cancellation of some routes as airlines struggle with high fuel prices. It was the third straight month of passenger traffic declines for GAP, which operates 12 airports along the Pacific coast region including terminals at Puerto Vallarta, Los Cabos and Tijuana. Passenger numbers dropped 0.5 percent in May and 5.3 percent in April. 7/8/2008

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