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PAC - Why Shares of Grupo Aeroportuario del Pacífico Are Falling Today
Grupo Aeroportuario Del Pacifico S.A. B. de C.V. de C.V.
Shares of Grupo Aeroportuario del Pacifico(NYSE: PAC) fell more than 10% on Monday, outpacing the broader market sell-off, on fears that the COVID-19 coronavirus would eat into vacation travel demand and ruin the key spring season for the airport operator.
Grupo Aeroportuario del Pacifico operates 12 airports in Mexico and two in Jamaica, catering to vacation travelers heading to sunny destinations. Until recently, the stock has held up much better than have shares of its airline customers, in part because volumes remained healthy through February.