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Citigroup Says Hurricane May Hurt Aeroportuario del Pacifico

Oct. 10 (Bloomberg) -- Grupo Aeroportuario del Pacifico SAB, the operator of airports in the Pacific and central regions of Mexico, may have “significant” traffic interruptions if Hurricane Jova hits the coast, Citigroup Inc. said.

The storm’s slow movement increases the risk that its strong winds will cause “considerable damage” to the Pacific coast region, which typically benefits from its mountainous landscape that can act as a shield against weather, Citigroup’s Acciones y Valores brokerage wrote in the e-mailed statement.

The Mexican government issued a tropical storm watch for part of the northwestern coast after Jova turned toward land as a strong Category 3 system, the U.S. National Weather Service said in an advisory at about 4:40 p.m. East Coast time.

The hurricane is unlikely to have an impact on monthly traffic numbers because travelers whose trips are delayed will still eventually travel on a rescheduled flight, said Miguel Aliaga, an investor relations official. The company’s airports are currently operating normally in Manzanillo and Puerto Vallarta, the two areas most likely to be hit by the storm, he said.

The Puerto Vallarta airport serves about 8,000 passengers a day, while Manzanillo gets about 600, according to the company.

“We’re constantly watching the updates on the hurricane issue,” Aliaga said. “The most that usually happens for airports is that a few flights are cancelled.”

Grupo Aeroportuario del Centro Norte SAB, which operates airports including in the Pacific coast resort of Acapulco, may have “minimal” impact from the storm, the Citigroup research note said.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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