Passenger traffic may fluctuate, but Jamaica’s international airports continue to deliver strong revenues to their foreign operators—regardless of the turbulence.
Grupo Aeroportuario del Pacífico (GAP), the Mexican concessionaire that oversees operations at both Montego Bay’s Sangster International Airport and Kingston’s Norman Manley International Airport, pocketed nearly US$61 million in Q3 alone from its Jamaican segment—driven by strong returns on passenger movement, service fees, and concessions.
The lion’s share—US$41.46 million—came from Sangster, where increased throughput translated into higher revenue from core aeronautical services. Passenger traffic at Sangster climbed to 1.24 million—a 7.7% uptick from last year’s hurricane-affected quarter, although still shy of pre-hurricane levels. The gains were sufficient to lift operating profit slightly, despite a 22% surge in expenses, driven by infrastructure upgrades and higher concession fees.
Meanwhile, Kingston’s Norman Manley International saw a 6.3% increase in footfall, breaching the 1 million passenger mark over the same period. The recovery and sustained momentum at both airports underpinned a 36% jump in net profit for GAP’s Jamaican operations—even as comprehensive income dipped, primarily due to foreign exchange translation losses, not local performance.
These strong quarterly figures align with GAP’s broader strategy to invest over US$200 million between 2026 and 2030 into both Jamaican airports, an investment matched by the approved increase in aeronautical rates. Montego Bay’s passenger fee will climb to US$19.07 by 2030, while Kingston’s will skyrocket to US$60.10—a move expected to significantly alter the pricing structure for airlines and travelers alike.
Sangster remains the jewel in the crown. Beyond handling over 70% of the island’s tourist arrivals, it also sits at the heart of the island’s hospitality belt, anchoring over 88% of Jamaica’s hotel capacity. GAP’s own data confirms Sangster alone accounted for over 11% of its entire global revenue last year, a staggering stat considering the company operates over a dozen airports across Latin America.
Strategically, GAP has already secured an additional year on its Sangster concession, now extended to 2034, even as its profit-share from Kingston operations was revised downward. Still, the growth trajectory remains intact. With more hotel rooms under construction and tourism showing resilience, GAP’s bet on Jamaica is looking increasingly prescient.
“Long-term, we remain highly optimistic about Jamaica,” said GAP CEO Raul Revuelta on a recent earnings call. And judging by the numbers, the optimism is mutual.
