CAAP Corporacion America Airports SA

Total passenger traffic up 14.5% YoY, reaching pre-pandemic levels

All countries except Brazil and Italy above November 2019 levels

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 November 2023, in line with November 2019 levels.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231219879709/en/

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

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

Statistics

Nov'23

Nov'22

% Var.

YTD’23

YTD'22

% Var.

Domestic Passengers (thousands)

3,927

3,375

16.3

%

41,826

34,310

21.9

%

International Passengers (thousands)

2,209

1,861

18.7

%

26,068

19,358

34.7

%

Transit Passengers (thousands)

626

672

-6.8

%

6,506

5,793

12.3

%

Total Passengers (thousands)

6,761

5,907

14.5

%

74,400

59,461

25.1

%

Cargo Volume (thousand tons)

32.5

29.3

10.7

%

334.1

310.6

7.6

%

Total Aircraft Movements (thousands)

64.1

64.0

0.1

%

778.0

669.4

16.2

%

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

Statistics

Nov'23

Nov'19

% Var.

YTD’23

YTD'19(1)(2)

% Var.

Domestic Passengers (thousands)

3,927

3,998

-1.8

%

41,826

43,496

-3.8

%

International Passengers (thousands)

2,209

2,055

7.5

%

26,068

26,023

0.2

%

Transit Passengers (thousands)

626

709

-11.7

%

6,506

7,624

-14.7

%

Total Passengers (thousands)

6,761

6,762

0.0

%

74,400

77,143

-3.6

%

Cargo Volume (thousand tons)

32.5

39.5

-17.9

%

334.1

388.4

-14.0

%

Total Aircraft Movements (thousands)

64.1

68.5

-6.5

%

778.0

786.4

-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 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 November 2019 levels, with all countries except Brazil and Italy above pre-pandemic. International passenger traffic surpassed pre-pandemic levels of November 2019 by 7.5%, while domestic traffic stood at 98.2% of November 2019 levels.

In Argentina, total passenger traffic continued to recover in November, increasing by 22.7% year-over-year (YoY) and surpassing pre-pandemic volumes by 12.6%. Domestic traffic was 17.9% higher than the levels in November 2019, while International traffic continued to recover and surpassed pre-pandemic levels for the first time, by 1.8%.

In Italy, passenger traffic grew by 12.2% compared to the same month in 2022, reaching 92.7% of November 2019 levels, down from the 106.4% recorded in October. International passenger traffic, which accounted for almost 80% of the total traffic, was 1.3% below November 2019 levels, while domestic passenger traffic was 22.9% below pre-pandemic levels. Although total traffic is still below pre-pandemic levels, Florence airport exceeded November 2019 traffic volumes. Traffic in Italy during November was affected by a strike carried out by unionized airport workers on November 24th.

In Brazil, total passenger traffic decreased by 1.2% YoY, reaching 85.2% of November 2019 levels, slightly up from the 84.5% recorded in October. Domestic traffic, which accounted for over 60% of the total traffic, reached 85.3% of pre-pandemic levels, while transit passengers stood at 85.4% of November 2019 levels, an increase from the 79.9% recorded in October. 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 18.8% YoY, surpassing pre-pandemic levels for the second consecutive month, at 104.4% of November 2019 levels.

In Ecuador, passenger traffic increased 8.1% YoY and surpassed pre-pandemic volumes by 4.7%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 2.0% and 7.3%, respectively.

In Armenia, passenger traffic continued its solid recovery trend, increasing by 10.9% YoY and surpassing the pre-pandemic levels of November 2019 by 56.5%.

Cargo Volume and Aircraft Movements

Cargo volume increased 10.7% YoY and reached 82.1% of November 2019 levels, or 83.1% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia, Ecuador and Italy were above pre-pandemic levels, whereas Uruguay stood at 97.5%, Brazil at 77.1%, and Argentina at 75.6%. Around 70% of cargo volume originated in Argentina, Ecuador and Uruguay.

Aircraft movements remained largely stable YoY, reaching 93.5% of November 2019 levels, or 97.0% when adjusting for the discontinuation of operations in Peru. Aircraft movements were above pre-pandemic levels in Armenia and Uruguay, while it stood at 97.4% in Argentina, 95.7% in Italy, 91.6% in Brazil, and 89.8% in Ecuador.

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

Nov'23

 

Nov'22

 

% Var.

 

YTD'23

 

YTD'22

 

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

   

Argentina(1)

3,923

 

3,197

 

22.7

%

 

39,850

 

30,446

 

30.9

%

Italy

480

 

428

 

12.2

%

 

7,671

 

6,255

 

22.6

%

Brazil

1,429

 

1,446

 

-1.2

%

 

15,614

 

14,264

 

9.5

%

Uruguay

169

 

142

 

18.8

%

 

1,766

 

1,287

 

37.2

%

Ecuador

391

 

361

 

8.1

%

 

4,458

 

3,869

 

15.2

%

Armenia

369

 

333

 

10.9

%

 

5,041

 

3,340

 

50.9

%

TOTAL

6,761

 

5,907

 

14.5

%

 

74,400

 

59,461

 

25.1

%

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

 

Cargo Volume (tons)

 

 

 

 

 

 

 

   

Argentina

16,905

 

15,032

 

12.5

%

 

172,970

 

165,470

 

4.5

%

Italy

1,231

 

1,307

 

-5.8

%

 

11,880

 

13,655

 

-13.0

%

Brazil

5,826

 

4,860

 

19.9

%

 

60,193

 

51,371

 

17.2

%

Uruguay(2)

2,792

 

2,783

 

0.3

%

 

28,459

 

29,553

 

-3.7

%

Ecuador

3,139

 

2,440

 

28.7

%

 

30,245

 

30,618

 

-1.2

%

Armenia

2,558

 

2,893

 

-11.6

%

 

30,398

 

19,944

 

52.4

%

TOTAL

32,451

 

29,315

 

10.7

%

 

334,145

 

310,611

 

7.6

%

Aircraft Movements

 

 

 

 

 

 

 

 

 

 

Argentina

34,788

 

35,020

 

-0.7

%

 

418,382

 

347,424

 

20.4

%

Italy

4,887

 

4,348

 

12.4

%

 

73,133

 

64,535

 

13.3

%

Brazil

12,732

 

12,823

 

-0.7

%

 

145,151

 

130,903

 

10.9

%

Uruguay

2,594

 

2,439

 

6.4

%

 

28,374

 

24,444

 

16.1

%

Ecuador

6,165

 

6,291

 

-2.0

%

 

71,983

 

70,300

 

2.4

%

Armenia

2,905

 

3,056

 

-4.9

%

 

40,971

 

31,811

 

28.8

%

TOTAL

64,071

 

63,977

 

0.1

%

 

777,994

 

669,417

 

16.2

%

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

 

Nov'23

 

Nov'19

 

% Var.

YTD'23

 

YTD'19

 

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

   

Argentina(1)

3,923

 

3,485

 

12.6

%

39,850

 

39,791

 

0.1

%

Italy

480

 

518

 

-7.3

%

7,671

 

7,722

 

-0.7

%

Brazil

1,429

 

1,676

 

-14.8

%

15,614

 

17,298

 

-9.7

%

Uruguay

169

 

162

 

4.4

%

1,766

 

1,993

 

-11.4

%

Ecuador

391

 

373

 

4.7

%

4,458

 

4,117

 

8.3

%

Armenia

369

 

236

 

56.5

%

5,041

 

2,958

 

70.4

%

Peru

 

 

312

 

-

 

-

 

3,263

 

-

 

TOTAL

6,761

 

6,762

 

0.0

%

74,400

 

77,143

 

-3.6

%

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

 

Cargo Volume (tons)

 

 

 

 

 

   

Argentina

16,905

 

22,370

 

-24.4

%

 

172,970

 

208,958

 

-17.2

%

Italy

1,231

 

1,212

 

1.6

%

 

11,880

 

12,035

 

-1.3

%

Brazil

5,826

 

7,559

 

-22.9

%

 

60,193

 

83,061

 

-27.5

%

Uruguay(2)

2,792

 

2,865

 

-2.5

%

 

28,459

 

26,550

 

7.2

%

Ecuador

3,139

 

2,896

 

8.4

%

 

30,245

 

34,963

 

-13.5

%

Armenia

2,558

 

2,168

 

18.0

%

 

30,398

 

18,159

 

67.4

%

Peru

-

 

438

 

-

 

 

-

 

4,655

 

-

 

TOTAL

32,451

 

39,508

 

-17.9

%

 

334,145

 

388,381

 

-14.0

%

Aircraft Movements

 

 

 

 

 

 

 

 

 

 

 

Argentina

34,788

 

35,726

 

-2.6

%

 

418,382

 

410,372

 

2.0

%

Italy

4,887

 

5,107

 

-4.3

%

 

73,133

 

73,936

 

-1.1

%

Brazil

12,732

 

13,898

 

-8.4

%

 

145,151

 

147,234

 

-1.4

%

Uruguay

2,594

 

2,318

 

11.9

%

 

28,374

 

26,526

 

7.0

%

Ecuador

6,165

 

6,866

 

-10.2

%

 

71,983

 

75,273

 

-4.4

%

Armenia

2,905

 

2,164

 

34.2

%

 

40,971

 

25,186

 

62.7

%

Peru

-

 

2,450

 

-

 

 

-

 

27,901

 

-

 

TOTAL

64,071

 

68,529

 

-6.5

%

 

777,994

 

786,428

 

-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/20231219879709/en/

Investor Relations Contact Patricio Iñaki Esnaola Email: patricio.esnaola@caairports.com Phone: +5411 4899-671