Raúl Revuelta Musalem

Raúl Revuelta Musalem serves as CEO of Grupo Aeroportuario del Pacífico (GAP), one of Mexico's three airport operators created from the privatization of Mexico's airport system. GAP operates 12 airports across Mexico's Pacific coast and central highlands: Guadalajara (Mexico's second-largest city and a major industrial hub), Puerto Vallarta and Los Cabos (premier tourist destinations), Tijuana (the busiest US-Mexico border crossing area), León/Bajío (industrial corridor), and seven others. GAP also operates Sangster International Airport in Montego Bay, Jamaica. GAP's airports are uniquely positioned at the intersection of three powerful traffic drivers: US-Mexico tourism (Americans visiting Pacific coast beach destinations), the Mexican diaspora (millions of Mexicans living in the US who fly home regularly, particularly to Guadalajara and other cities in western Mexico), and domestic Mexican business travel (Guadalajara is a major tech and manufacturing hub). The Tijuana airport benefits from the Cross Border Xpress — a dedicated pedestrian bridge connecting the airport terminal directly to the US border, allowing passengers to walk from San Diego to board flights in Tijuana. The Mexican airport concession model provides long-term revenue visibility (GAP's concession runs through 2048), with revenue from both aeronautical charges (landing fees, passenger charges) and commercial activities (retail, parking, advertising, fuel). Key stock drivers include passenger traffic growth, aeronautical tariff negotiations, commercial revenue per passenger, tourism trends from the US, peso/dollar exchange rate, new airline route additions, competition among Mexican airport groups (GAP, OMA, ASUR), and the regulatory environment for airport concessions.