CAAP Corporacion America Airports SA

Total passenger traffic up 14.5% YoY and 1.2% above pre-pandemic levels

All countries except Brazil above October 2019 levels

Aircraft movements 1.9% above October 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 14.5% year-on-year (YoY) increase in passenger traffic in October 2023, surpassing October 2019 levels by 1.2%.

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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

Oct'23

Oct'22

% Var.

 

YTD’23

YTD'22

% Var.

 

Domestic Passengers (thousands)

4,043

3,470

16.5%

 

37,899

30,935

22.5%

 

International Passengers (thousands)

2,587

2,151

20.3%

 

23,859

17,498

36.4%

 

Transit Passengers (thousands)

582

676

-14.0%

 

5,880

5,122

14.8%

 

Total Passengers (thousands)

7,212

6,297

14.5%

 

67,638

53,554

26.3%

 

Cargo Volume (thousand tons)

33.1

30.7

7.9%

 

301.7

281.3

7.3%

 

Total Aircraft Movements (thousands)

74.0

67.6

9.4%

 

713.9

605.4

17.9%

 

 

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

 

Statistics

Oct'23

Oct'19

% Var.

 

YTD’23

YTD'19(1)(2)

% Var.

 

Domestic Passengers (thousands)

4,043

4,035

0.2%

 

37,899

39,498

-4.0%

 

International Passengers (thousands)

2,587

2,378

8.8%

 

23,859

23,968

-0.5%

 

Transit Passengers (thousands)

582

717

-18.8%

 

5,880

6,915

-15.0%

 

Total Passengers (thousands)

7,212

7,130

1.2%

 

67,638

70,381

-3.9%

 

Cargo Volume (thousand tons)

33.1

38.8

-14.7%

 

301.7

348.9

-13.5%

 

Total Aircraft Movements (thousands)

74.0

72.6

1.9%

 

713.9

717.9

-0.6%

 

 

(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 14.5% 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 101.2% of October 2019 levels, up from the 98.9% posted in September, with all countries except Brazil above pre-pandemic. International passenger traffic surpassed pre-pandemic levels of October 2019 by 8.8%, while domestic traffic also improved versus the prior month slightly exceeding October 2019 levels.

In Argentina, total passenger traffic continued to recover in October, increasing by 18.7% year-over-year (YoY) and surpassing pre-pandemic volumes by 10.4%. Domestic traffic was 18.3% higher than the levels in October 2019 and benefited from a government program to boost domestic tourism. International passenger traffic also continued to recover, reaching 96.0% of pre-pandemic levels, up from the 90.7% recorded in September.

In Italy, passenger traffic grew by 21.6% compared to the same month in 2022 and surpassed pre-pandemic levels for the fourth consecutive month, increasing by 6.4% compared to October 2019, up from the 1.6% recorded in September. International passenger traffic, which accounted for 80% of the total traffic, was 7.9% above October 2019 levels, while domestic passenger traffic surpassed pre-pandemic levels by 1.3%. Although domestic traffic is still below pre-pandemic levels at Pisa airport, both airports exceeded October 2019 overall traffic volumes.

In Brazil, total passenger traffic increased slightly by 0.1% YoY, reaching 84.5% of October 2019 levels, down from the 92.9% recorded in September. Domestic traffic, which accounted for almost two-thirds of the total traffic, reached 86.5% of pre-pandemic levels, while transit passengers stood at 79.9% of October 2019 levels, a decrease from the 87.5% recorded in September. Traffic in Brazil remained impacted by financial and aircraft constraints in some local airlines.

In Uruguay, total passenger traffic, which is largely international, continued to recover and increased 28.6% YoY, surpassing pre-pandemic levels for the first time, at 107.4% of October 2019 levels, up from 94.5% recorded in September.

In Ecuador, passenger traffic increased 0.5% YoY and surpassed pre-pandemic volumes by 9.0%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 11.5% and 5.5%, respectively.

In Armenia, passenger traffic continued its solid recovery trend, increasing by 29.1% YoY and surpassing the pre-pandemic levels of October 2019 by 62.5%.

Cargo Volume and Aircraft Movements

Cargo volume increased 7.9% YoY and reached 85.3% of October 2019 levels, or 86.3% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia and Ecuador were above pre-pandemic levels, whereas Italy stood at 93.1%, Argentina at 78.8%, Uruguay at 86.0%, and Brazil at 83.1%. Almost 70% of cargo volume originated in Argentina, Ecuador and Uruguay.

Aircraft movements increased 9.4% YoY and surpassed October 2019 levels by 1.9%, or 5.6% when adjusting for the discontinuation of operations in Peru. All the countries of operations, except Ecuador and Brazil, exceeded October 2019 pre-pandemic levels.

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

 

Oct'23

Oct'22

% Var.

 

YTD'23

YTD'22

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,917

3,300

18.7%

 

35,927

27,249

31.8%

Italy

823

677

21.6%

 

7,191

5,827

23.4%

Brazil

1,415

1,414

0.1%

 

14,185

12,818

10.7%

Uruguay

179

139

28.6%

 

1,597

1,145

39.5%

Ecuador

394

392

0.5%

 

4,067

3,508

15.9%

Armenia

485

375

29.1%

 

4,672

3,008

55.3%

TOTAL

7,212

6,297

14.5%

 

67,638

53,554

26.3%

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

 

Cargo Volume (tons)

 

 

 

 

 

 

Argentina

17,501

15,722

11.3%

156,066

150,439

3.7%

Italy

1,170

1,258

-7.0%

10,649

12,348

-13.8%

Brazil

5,936

5,281

12.4%

54,366

46,511

16.9%

Uruguay(2)

2,324

2,572

-9.6%

25,667

26,770

-4.1%

Ecuador

2,775

2,951

-6.0%

27,106

28,178

-3.8%

Armenia

3,366

2,870

17.3%

27,840

17,051

63.3%

TOTAL

33,070

30,653

7.9%

301,694

281,297

7.3%

Aircraft Movements

 

 

 

 

 

 

Argentina

40,560

35,745

13.5%

383,594

312,404

22.8%

Italy

7,794

6,695

16.4%

68,246

60,187

13.4%

Brazil

13,015

12,640

3.0%

132,419

118,080

12.1%

Uruguay

2,637

2,466

6.9%

25,780

22,005

17.2%

Ecuador

6,130

6,464

-5.2%

65,818

64,009

2.8%

Armenia

3,846

3,634

5.8%

38,066

28,755

32.4%

TOTAL

73,982

67,644

9.4%

713,923

605,440

17.9%

 

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

 

Oct'23

Oct'19

% Var.

 

YTD'23

YTD'19

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,917

3,548

10.4%

 

35,927

36,307

-1.0%

Italy

823

773

6.4%

 

7,191

7,204

-0.2%

Brazil

1,415

1,675

-15.5%

 

14,185

15,622

-9.2%

Uruguay

179

167

7.4%

 

1,597

1,831

-12.8%

Ecuador

394

361

9.0%

 

4,067

3,744

8.6%

Armenia

485

298

62.5%

 

4,672

2,723

71.6%

Peru

 

309

-

 

-

2,951

-

TOTAL

7,212

7,130

1.2%

 

67,638

70,381

-3.9%

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

 

Cargo Volume (tons)

 

 

 

 

 

 

Argentina

17,501

22,211

-21.2%

156,066

186,588

-16.4%

Italy

1,170

1,256

-6.9%

10,649

10,823

-1.6%

Brazil

5,936

7,140

-16.9%

54,366

75,501

-28.0%

Uruguay(2)

2,324

2,702

-14.0%

25,667

23,685

8.4%

Ecuador

2,775

2,707

2.5%

27,106

32,067

-15.5%

Armenia

3,366

2,295

46.7%

27,840

15,991

74.1%

Peru

-

446

-

-

4,217

-

TOTAL

33,070

38,757

-14.7%

301,694

348,873

-13.5%

Aircraft Movements

 

 

 

 

 

 

Argentina

40,560

36,582

10.9%

383,594

374,646

2.4%

Italy

7,794

7,315

6.5%

68,246

68,829

-0.8%

Brazil

13,015

14,047

-7.3%

132,419

133,336

-0.7%

Uruguay

2,637

2,083

26.6%

25,780

24,208

6.5%

Ecuador

6,130

7,449

-17.7%

65,818

68,407

-3.8%

Armenia

3,846

2,598

48.0%

38,066

23,022

65.3%

Peru

-

2,514

-

-

25,451

-

TOTAL

73,982

72,588

1.9%

713,923

717,899

-0.6%

 

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/20231121975207/en/

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