CAAP Corporacion America Airports SA

Total passenger traffic up 18.7% YoY reaching 99% of pre-pandemic levels

Armenia, Ecuador, Italy and Brazil above August 2019 levels

Aircraft movements at 99% of August 2019

Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today a 18.7% year-on-year (YoY) increase in passenger traffic in August 2023, reaching 98.7% of August 2019 levels.

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2-Year Passenger Traffic Monthly Performance (vs. 2019) (Graphic: Business Wire)

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2022)  

Statistics

Aug'23

Aug'22

% Var.

 

YTD’23

YTD'22

% Var.

Domestic Passengers (thousands)

4,108

3,451

19.0%

 

30,012

24,239

23.8%

International Passengers (thousands)

2,787

2,233

24.8%

 

18,661

13,167

41.7%

Transit Passengers (thousands)

596

629

-5.3%

 

4,713

3,765

25.2%

Total Passengers (thousands)

7,491

6,313

18.7%

 

53,385

41,172

29.7%

Cargo Volume (thousand tons)

31.0

26.8

15.4%

 

237.7

221.7

7.2%

Total Aircraft Movements (thousands)

77.0

69.3

11.0%

 

568.0

472.6

20.2%

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2019)  

Statistics

Aug'23

Aug'19

% Var.

 

YTD’23

YTD'19(1)(2)

% Var.

Domestic Passengers (thousands)

4,108

4,265

-3.7%

 

30,012

31,484

-4.7%

International Passengers (thousands)

2,787

2,683

3.9%

 

18,661

19,100

-2.3%

Transit Passengers (thousands)

596

644

-7.5%

 

4,713

5,546

-15.0%

Total Passengers (thousands)

7,491

7,592

-1.3%

 

53,385

56,130

-4.9%

Cargo Volume (thousand tons)

31.0

32.4

-4.5%

 

237.7

278.3

-14.6%

Total Aircraft Movements (thousands)

77.0

77.1

-0.1%

 

568.0

574.3

-1.1%

(1)

Note that preliminary passenger traffic figures for 2019, as well as January 2020 for Ezeiza Airport, in Argentina, were adjusted to include additional inbound passengers not accounted for in the initial count, for an average of approximately 5% of total passenger traffic at Ezeiza Airport and 1% of total traffic at CAAP, during that period. Importantly, inbound traffic does not affect revenues, as tariffs are applicable on departure passengers.

(2)

Cargo volumes in Uruguay were rectified from January 2019 to June 2020, to reflect all cargo passing through the cargo terminal, instead of air cargo only.

Passenger Traffic Overview

Total passenger traffic grew 18.7% compared to the same month of 2022, supported by the ongoing recovery in travel demand after the Covid-19 pandemic and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 98.7% of August 2019 levels, up from 96.3% posted in July, with international passenger traffic surpassing pre-pandemic levels of August 2019 by 3.9%. Domestic traffic stood at 96.3% of August 2019, up from 93.6% in July.

In Argentina, total passenger traffic continued to recover in August, increasing 23.8% year-over-year (YoY) and reaching 98.4% of pre-pandemic volumes, a slight improvement from 98.1% in July. Domestic traffic had declined compared to May and June when it benefited from a government program aimed at boosting domestic tourism. However, domestic traffic increased on an absolute basis month-over-month and was 2.9% higher than August 2019 levels. International passenger traffic also continued to recover, reaching 87.0% of pre-pandemic levels, a slight decrease from the 88.3% recorded in July.

In Italy, passenger traffic benefited from the summer season and grew by 16.8% compared to the same month in 2022 and surpassed pre-pandemic levels for the second consecutive month, increasing by 4.1% compared to August 2019. International passenger traffic, which accounted for 80% of the total traffic, exceeded August 2019 levels by 1.6%, while domestic passenger traffic surpassed pre-pandemic levels by 16.4%. Although some pre-pandemic destinations still need to resume at Pisa airport, Florence airport has already exceeded 2019 levels and was 19.8% above August 2019 traffic volumes.

In Brazil, total passenger traffic increased by 3.8% YoY and surpassed pre-pandemic levels for the first time, rising by 1.4% compared to August 2019. Domestic traffic, which accounted for two-thirds of the total traffic, exceeded pre-pandemic levels by 7.8%, while transit passengers improved to 88.9% of August 2019 levels, up from 77.6% in July.

In Uruguay, total passenger traffic, which is largely international, continued to recover and increased 35.1% YoY, reaching 91.3% of August 2019 levels, a slight decline from 94.6% recorded in July.

In Ecuador, passenger traffic increased 5.2% YoY and surpassed pre-pandemic volumes by 6.5%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 12.0% and 2.0%, respectively.

In Armenia, passenger traffic continued its solid recovery trend, increasing by 41.9% YoY and surpassing the pre-pandemic levels of August 2019 by 62.0%. This is consistent with the 61.5% growth recorded in July but a decline from the 82.4% growth observed in June. The drop in the comparison against the same month of 2019, as compared to June, is explained by the fact that July and August are traditionally strong months in terms of passenger traffic, and the Armenia airport is operating at its maximum capacity due to the significant growth it has experienced. This makes the comparison between August 2023 and August 2019 appear less favorable than the comparison between June 2023 and June 2019. In August 2019, the volume increased due to the high seasonality of the month, whereas in August 2023, although traffic also increased due to high seasonality, the growth was limited by the current capacity of the airport.

Cargo Volume and Aircraft Movements

Cargo volume increased 15.4% YoY and improved to 95.5% of August 2019 levels, or 97.1% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia and Uruguay were above pre-pandemic levels, whereas Italy stood at 90.8%, Ecuador at 99.2%, Argentina at 92.6% and Brazil at 86.1%. Almost 70% of cargo volume originated in Argentina, Ecuador and Uruguay.

Aircraft movements increased 11.0% YoY to 99.9% of August 2019 levels, or exceeded pre-pandemic levels by 3.7% when adjusting for the discontinuation of operations in Peru. All the countries of operations, except Ecuador, exceeded August 2019 pre-pandemic levels.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2022)

 

Aug'23

Aug'22

% Var.

 

YTD'23

YTD'22

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,815

3,080

23.8%

 

28,325

20,889

35.6%

Italy

939

804

16.8%

 

5,493

4,410

24.5%

Brazil

1,487

1,433

3.8%

 

11,392

10,024

13.6%

Uruguay

158

117

35.1%

 

1,253

880

42.4%

Ecuador

445

423

5.2%

 

3,276

2,740

19.6%

Armenia

647

456

41.9%

 

3,647

2,229

63.6%

TOTAL

7,491

6,313

18.7%

 

53,385

41,172

29.7%

(1)

See Footnote 1 in previous table. (2) See Footnote 2 in previous table.

Cargo Volume (tons)

Argentina

15,973

15,147

5.4%

 

122,487

119,660

2.4%

Italy

751

977

-23.1%

 

8,624

9,792

-11.9%

Brazil

5,878

3,559

65.1%

 

42,987

35,579

20.8%

Uruguay(2)

2,519

2,568

-1.9%

 

20,930

21,950

-4.6%

Ecuador

2,909

2,514

15.7%

 

21,740

22,695

-4.2%

Armenia

2,944

2,072

42.1%

 

20,948

11,995

74.6%

TOTAL

30,974

26,837

15.4%

 

237,716

221,672

7.2%

Aircraft Movements

Argentina

41,025

35,748

14.8%

 

304,943

243,240

25.4%

Italy

8,466

7,568

11.9%

 

52,487

46,192

13.6%

Brazil

13,630

12,754

6.9%

 

106,544

93,107

14.4%

Uruguay

2,264

1,959

15.6%

 

20,995

17,525

19.8%

Ecuador

6,852

7,172

-4.5%

 

53,107

51,121

3.9%

Armenia

4,721

4,123

14.5%

 

29,948

21,416

39.8%

TOTAL

76,958

69,324

11.0%

 

568,024

472,601

20.2%

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2019)

 

Aug'23

Aug'19

% Var.

 

YTD'23

YTD'19

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,815

3,875

-1.6%

 

28,325

29,151

-2.8%

Italy

939

902

4.1%

 

5,493

5,569

-1.4%

Brazil

1,487

1,467

1.4%

 

11,392

12,464

-8.6%

Uruguay

158

173

-8.7%

 

1,253

1,490

-15.9%

Ecuador

445

418

6.5%

 

3,276

3,053

7.3%

Armenia

647

400

62.0%

 

3,647

2,092

74.3%

Peru

 

358

-

 

-

2,311

-

TOTAL

7,491

7,592

-1.3%

 

53,385

56,130

-4.9%

(1)

See Footnote 1 in previous table. (2) See Footnote 2 in previous table.

Cargo Volume (tons)

Argentina

15,973

17,247

-7.4%

 

122,487

146,445

-16.4%

Italy

751

827

-9.2%

 

8,624

8,494

1.5%

Brazil

5,878

6,823

-13.9%

 

42,987

62,505

-31.2%

Uruguay(2)

2,519

2,280

10.5%

 

20,930

18,816

11.2%

Ecuador

2,909

2,933

-0.8%

 

21,740

27,044

-19.6%

Armenia

2,944

1,773

66.0%

 

20,948

11,606

80.5%

Peru

-

540

-

 

-

3,340

-

TOTAL

30,974

32,423

-4.5%

 

237,716

278,250

-14.6%

Aircraft Movements

Argentina

41,025

39,702

3.3%

 

304,943

301,737

1.1%

Italy

8,466

8,379

1.0%

 

52,487

53,583

-2.0%

Brazil

13,630

13,370

1.9%

 

106,544

106,054

0.5%

Uruguay

2,264

2,084

8.6%

 

20,995

20,071

4.6%

Ecuador

6,852

7,423

-7.7%

 

53,107

55,102

-3.6%

Armenia

4,721

3,221

46.6%

 

29,948

17,636

69.8%

Peru

-

2,894

-

 

-

20,165

-

TOTAL

76,958

77,073

-0.1%

 

568,024

574,348

-1.1%

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2022, Corporación América Airports served 65.6 million passengers, 83.7% above the 35.7 million passengers served in 2021 and 22.1% below the 84.2 million served in 2019. The Company is listed on the New York Stock Exchange where it trades under the ticker “CAAP”. For more information, visit http://investors.corporacionamericaairports.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230915231105/en/

Investor Relations Contact Patricio Iñaki Esnaola Email: patricio.esnaola@caairports.com Phone: +5411 4899-6716