As reshoring brings manufacturing capacity back to North and South America from Asia, Mexico is well-positioned to benefit. The article recommends investing in Mexican airport operators Grupo Aeroportuario del Pacífico and Grupo Aeroportuario del Centro Norte, which are positioned to capitalize on increased industrial and tourism traffic. Both stocks offer attractive valuations with dividend yields and are expected to benefit from long-term economic growth in Mexico.

Grupo Aeroportuario del Pacífico (GAP) reported an 8.9% decrease in total passenger traffic across its 12 Mexican airports in March 2026 compared to March 2025. Mexican airports saw a 7.6% decline, with significant drops at Puerto Vallarta (24.4%) and Tijuana (8.7%). Jamaica operations were mixed, with Kingston up 1.0% but Montego Bay down 25.7% due to Hurricane Melissa disruptions. Load factors declined from 81.5% to 75.5%, and available seats decreased 4.5%.

Grupo Aeroportuario del Pacífico successfully completed the issuance of Ps. 10.7 billion in long-term bond certificates through two tranches with 1.74x oversubscription. The proceeds will finance the acquisition of a 25% stake in Cross Border Xpress and fund capital expenditures under the 2025-2029 Master Development Program. Both issuances received the highest credit ratings (Aaa.mx by Moody's and mxAAA by S&P).

Grupo Aeroportuario del Pacífico (GAP) announced the payment of its maturing bond certificate GAP 23L worth Ps.1,120.0 million (11.2 million certificates). The company refinanced this obligation through a new 12-month credit facility with Scotiabank Inverlat at TIIE Funding plus 44 basis points with monthly interest payments.

GAP refinanced a USD$95.5 million bank loan with BBVA México that was due on March 19, 2026. The new financing agreement has a six-month term with an extension option for another six months, carrying a variable interest rate of SOFR plus 40 basis points, plus structuring fees.

Grupo Aeroportuario del Pacífico (GAP) reported a 5.5% decrease in total passenger traffic across its 12 Mexican airports in February 2026 compared to February 2025. Major airports like Tijuana, Puerto Vallarta, and Guadalajara experienced declines of 7.4%, 5.3%, and 1.6% respectively. Jamaican operations were significantly impacted by Hurricane Melissa, with Montego Bay down 31.4%. Load factors declined from 81.2% to 79.4%, and available seats decreased by 3.4%. Flight cancellations in Jalisco on February 22-23 also contributed to the decline.

GAP successfully refinanced a USD$95.5 million bank loan that matured on January 20, 2026, with The Bank of Nova Scotia for a twelve-month term at 1-month SOFR plus 50 basis points. The new loan matures on January 19, 2027, with an early repayment option.

Grupo Aeroportuario del Pacífico (GAP) reported minimal overall passenger traffic growth of 0.1% in December 2025 compared to December 2024. While Mexican airports showed a 4.2% increase led by Guadalajara (+9.2%) and Puerto Vallarta (+4.0%), Jamaican operations declined significantly due to Hurricane Melissa disruptions. Load factors decreased from 85.5% to 77.4% despite a 10.6% increase in available seats. The company added 12 new routes across its network.

Grupo Aeroportuario del Pacifico (GAP) shareholders approved a business combination involving Cross Border Xpress (CBX) and technical assistance services, with approximately 96% of votes in favor. The merger will result in issuing around 90 million new shares, increasing total outstanding shares from 505 million to 595 million.

Grupo Aeroportuario del Pacifico reported a 2.0% decrease in total terminal passengers in November 2025 compared to 2024, primarily due to significant passenger traffic reduction in Montego Bay following Hurricane Melissa's impact.

Grupo Aeroportuario del Pacifico reported a 0.8% decrease in total passenger traffic in October 2025 compared to 2024, primarily due to significant disruptions from Hurricane Melissa in Jamaica, which impacted airport operations in Kingston and Montego Bay.

Montego Bay International Airport resumed limited operations after Hurricane Melissa, with evacuation flights and humanitarian aid initially allowed. Full commercial operations expected to resume on November 1 after infrastructure assessment and safety checks.