CAAP Corporacion America Airports SA

Total passenger traffic up 15.7% YoY reaching 99% of pre-pandemic levels

Armenia, Ecuador, Argentina and Italy above September 2019 levels

Aircraft movements 1.3% above September 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 15.7% year-on-year (YoY) increase in passenger traffic in September 2023, reaching 98.9% of September 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

Sep'23

Sep'22

% Var.

 

YTD’23

YTD'22

% Var.

Domestic Passengers (thousands)

3,844

3,226

19.2%

 

33,856

27,465

23.3%

International Passengers (thousands)

2,612

2,180

19.8%

 

21,273

15,347

38.6%

Transit Passengers (thousands)

585

680

-14.0%

 

5,298

4,445

19.2%

Total Passengers (thousands)

7,042

6,085

15.7%

 

60,426

47,257

27.9%

Cargo Volume (thousand tons)

30.9

29.0

6.7%

 

268.6

250.6

7.2%

Total Aircraft Movements (thousands)

71.9

65.2

10.3%

 

639.9

537.8

19.0%

 

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

 

Statistics

Sep'23

Sep'19

% Var.

 

YTD’23

YTD'19(1)(2)

% Var.

Domestic Passengers (thousands)

3,844

3,979

-3.4%

 

33,856

35,463

-4.5%

International Passengers (thousands)

2,612

2,490

4.9%

 

21,273

21,590

-1.5%

Transit Passengers (thousands)

585

652

-10.3%

 

5,298

6,198

-14.5%

Total Passengers (thousands)

7,042

7,122

-1.1%

 

60,426

63,251

-4.5%

Cargo Volume (thousand tons)

30.9

31.9

-3.0%

 

268.6

310.1

-13.4%

Total Aircraft Movements (thousands)

71.9

71.0

1.3%

 

639.9

645.3

-0.8%

(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 15.7% 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 98.9% of September 2019 levels, substantially in line with the 98.7% posted in August, with international passenger traffic surpassing pre-pandemic levels of September 2019 by 4.9%. Domestic traffic stood at 96.6% of September 2019, in line with 96.3% in August.

In Argentina, total passenger traffic continued to recover in September, increasing by 20.4% year-over-year (YoY) and surpassing pre-pandemic volumes by 2.1%. Domestic traffic was 7.5% higher than the levels in September 2019, while international passenger traffic also continued to recover, reaching 90.7% of pre-pandemic levels, up from the 87.0% recorded in August.

In Italy, passenger traffic grew by 18.2% compared to the same month in 2022 and surpassed pre-pandemic levels for the third consecutive month, increasing by 1.6% compared to September 2019, down from the 4.1% recorded in August when traffic benefited from the summer season. International passenger traffic, which accounted for 80% of the total traffic, was in line with September 2019 levels, while domestic passenger traffic surpassed pre-pandemic levels by 7.8%. Although some pre-pandemic destinations still need to resume at Pisa airport, Florence airport has already exceeded 2019 levels and was 10.4% above September 2019 traffic volumes.

In Brazil, total passenger traffic decreased slightly by 0.1% YoY, reaching 92.9% of September 2019 levels. This decline is down from the 101.4% recorded in August. Domestic traffic, which accounted for almost two-thirds of the total traffic, reached 95.6% of pre-pandemic levels, while transit passengers stood at 87.5% of September 2019 levels, a slight decrease from the 88.9% recorded in August.

In Uruguay, total passenger traffic, which is largely international, continued to recover and increased 31.3% YoY, reaching 94.5% of September 2019 levels, up from 91.3% recorded in August.

In Ecuador, passenger traffic increased 5.7% YoY and surpassed pre-pandemic volumes by 20.8%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 25.7% and 15.7%, respectively. The comparison with pre-pandemic benefited from the airport’s closure during three weekends of September 2019.

In Armenia, passenger traffic continued its solid recovery trend, increasing by 34.2% YoY and surpassing the pre-pandemic levels of September 2019 by 62.7%.

Cargo Volume and Aircraft Movements

Cargo volume increased 6.7% YoY and improved to 97.0% of September 2019 levels, or 98.3% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia, Ecuador and Uruguay were above pre-pandemic levels, whereas Italy stood at 79.8%, Argentina at 89.7% and Brazil at 92.9%. Almost 70% of cargo volume originated in Argentina, Ecuador and Uruguay.

Aircraft movements increased 10.3% YoY and surpassed September 2019 levels by 1.3%, or 5.5% when adjusting for the discontinuation of operations in Peru. All the countries of operations, except Brazil, exceeded September 2019 pre-pandemic levels.

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

 

Sep'23

Sep'22

% Var.

 

YTD'23

YTD'22

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,684

3,060

20.4%

 

32,010

23,949

33.7%

Italy

876

741

18.2%

 

6,368

5,151

23.6%

Brazil

1,378

1,380

-0.1%

 

12,770

11,403

12.0%

Uruguay

165

126

31.3%

 

1,418

1,006

41.0%

Ecuador

398

376

5.7%

 

3,673

3,116

17.9%

Armenia

540

403

34.2%

 

4,187

2,632

59.1%

TOTAL

7,042

6,085

15.7%

 

60,426

47,257

27.9%

 

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

Cargo Volume (tons)

 

 

 

 

 

 

Argentina

16,078

15,056

6.8%

138,565

134,716

2.9%

Italy

856

1,299

-34.1%

9,479

11,091

-14.5%

Brazil

5,443

5,651

-3.7%

48,430

41,231

17.5%

Uruguay(2)

2,413

2,248

7.3%

23,343

24,198

-3.5%

Ecuador

2,591

2,532

2.3%

24,331

25,227

-3.6%

Armenia

3,526

2,186

61.3%

24,475

14,181

72.6%

TOTAL

30,907

28,972

6.7%

268,623

250,644

7.2%

Aircraft Movements

 

 

 

 

 

 

Argentina

38,091

33,419

14.0%

343,034

276,659

24.0%

Italy

7,965

7,300

9.1%

60,452

53,492

13.0%

Brazil

12,860

12,333

4.3%

119,404

105,440

13.2%

Uruguay

2,148

2,014

6.7%

23,143

19,539

18.4%

Ecuador

6,581

6,424

2.4%

59,688

57,545

3.7%

Armenia

4,272

3,705

15.3%

34,220

25,121

36.2%

TOTAL

71,917

65,195

10.3%

639,941

537,796

19.0%

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

 

Sep'23

Sep'19

% Var.

 

YTD'23

YTD'19

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,684

3,608

2.1%

 

32,010

32,759

-2.3%

Italy

876

862

1.6%

 

6,368

6,431

-1.0%

Brazil

1,378

1,483

-7.1%

 

12,770

13,947

-8.4%

Uruguay

165

175

-5.5%

 

1,418

1,665

-14.8%

Ecuador

398

329

20.8%

 

3,673

3,382

8.6%

Armenia

540

332

62.7%

 

4,187

2,424

72.7%

Peru

 

332

-

 

-

2,642

-

TOTAL

7,042

7,122

-1.1%

 

60,426

63,251

-4.5%

 

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

Cargo Volume (tons)

 

 

 

 

 

 

Argentina

16,078

17,932

-10.3%

 

138,565

164,377

-15.7%

Italy

856

1,072

-20.2%

 

9,479

9,567

-0.9%

Brazil

5,443

5,857

-7.1%

 

48,430

68,362

-29.2%

Uruguay(2)

2,413

2,167

11.4%

 

23,343

20,983

11.2%

Ecuador

2,591

2,316

11.9%

 

24,331

29,360

-17.1%

Armenia

3,526

2,091

68.6%

 

24,475

13,697

78.7%

Peru

-

431

-

 

-

3,771

-

TOTAL

30,907

31,866

-3.0%

 

268,623

310,116

-13.4%

Aircraft Movements

 

 

 

 

 

 

Argentina

38,091

36,327

4.9%

 

343,034

338,064

1.5%

Italy

7,965

7,931

0.4%

 

60,452

61,514

-1.7%

Brazil

12,860

13,235

-2.8%

 

119,404

119,289

0.1%

Uruguay

2,148

2,054

4.6%

 

23,143

22,125

4.6%

Ecuador

6,581

5,856

12.4%

 

59,688

60,958

-2.1%

Armenia

4,272

2,788

53.2%

 

34,220

20,424

67.5%

Peru

-

2,772

-

 

-

22,937

-

TOTAL

71,917

70,963

1.3%

 

639,941

645,311

-0.8%

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/20231018093861/en/

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