Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) Q1 2024 Earnings Conference Call April 24, 2024 11:00 AM ET
Company Participants
Alejandra Soto - IRO
Raul Revuelta - CEO
Saul Villarreal - CFO
Conference Call Participants
Rodolfo Ramos - Bradesco BBI
Stephen Trent - Citi
Guilherme Mendes - JPMorgan
Alejandro Fuchs - Itau Group
Pablo Monsivais - Barclays
Gabriel Himelfarb - Scotiabank
Ernst Mortenkotter - GBM
Andressa Varotto - UBS
Operator
Good morning, and welcome to GAP's Conference Call. All lines have been placed on muted to prevent any background noise. After the presentation, we will open the floor for questions and at that time, instructions will be given if you would like to ask a question.
It is now my pleasure to turn the conference over to GAP's Investor Relations team. Please go ahead.
Alejandra Soto
Thank you, and welcome to the first quarter 2024 conference call for Grupo Aeroportuario del Pacifico. Presenting from the company today, we welcome Mr. Raul Revuelta, GAP's Chief Executive Officer; and Mr. Saul Villarreal, Chief Financial Officer.
Please be advised that forward-looking statements may be made during this conference call. These do not account for future economic circumstances, industry conditions, the company's future performance or financial results. As such, statements made are based on several assumptions and factors that could cause actual results to materially differ from the current expectations. For a complete note on forward-looking statements, please refer to the quarterly report issued earlier this week.
At this point, I'd like to turn the call over to Mr. Revuelta for his opening remarks. Please begin, sir.
Raul Revuelta
Thank you, and good morning. As always, it is a pleasure to be reviewing another quarter with you. We appreciate you taking the time to join us today. I'm going to briefly review operational and financial figures before taking your questions.
During this quarter, the total number of passengers reached nearly 16 million, which was almost flat compared to the first Q 2023. As many of you are aware, we have experienced a slight deceleration in passengers traffic since the fourth quarter of 2023, due to the preventive inspections of the Pratt & Whitney engines. These inspections will continue throughout 2024.
As of today, Volaris, the airline that handles most of our passengers traffic has the highest number of grounded aircraft. As 2024 progresses, we will continue to monitor the availability of seats and passengers traffic trends in order to keep the market updated of any changes. Despite the slowdown of the domestic market, the international market has been growing in double-digits.