GAP secures USD50m for airport upgrades in Mexico

Mexico's Grupo Aeroportuario del Pacífico (GAP) announced it has contracted an additional line of credit for the Guadalajara, Puerto Vallarta, Los Cabos, Hermosillo and Guanajuato airports, for a total of MXN551.37 million (USD46.6 million). Shares in GAP were 1.1% lower, while OMA shares declined 0.8% and ASUR shares were down 0.5%.

GAP has selected Banamex-Citi as the financial institution for this line of credit. The line of credit will be used to finance capital investments previously committed pursuant to the Master Development Programmes of the previously mentioned airports for 2011 and 2012.

Shares in Vienna Airport operator Flughaven Wien were down 4.9%, while Gemina, which invests in airports in Italy, was down 4%.

Selected airport and airport operator share price movements (% change): 08-Jun-2011