Mexico's GAP closes on Kingston Airport concession

Mexico's GAP closes on Kingston Airport concession

Corporate & Sovereign Strategy Loans Jamaica

Mexico’s Grupo Aeroportuario del Pacifico (GAP) this week signed a 25-year concession to operate the Kingston airport in Jamaica. Under the terms of the agreement, GAP will pay $7.1m during the next 12 months and take over operations in October 2019. According to a statement, GAP will complete up to $60m of work at the airport over the first 36 months of the concession. Resources are likely to be financed by bank loans, as per GAP’s policy. The Mexican group said its expects a EBITDA close to 1.

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