CAAP Corporacion America Airports SA

Total passenger traffic up 10.3% YoY, reaching 96.2% of December 2019 levels

Full Year 2023 passenger traffic at 96.4% of 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 10.3% year-on-year (YoY) increase in passenger traffic in December 2023, reaching 96.2% of December 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

Dec'23

Dec'22

% Var.

 

2023

2022

% Var.

Domestic Passengers (thousands)

3,854

3,480

10.7%

 

45,679

37,791

20.9%

International Passengers (thousands)

2,293

1,976

16.1%

 

28,362

21,334

32.9%

Transit Passengers (thousands)

600

658

-8.8%

 

7,106

6,451

10.1%

Total Passengers (thousands)

6,747

6,114

10.3%

 

81,147

65,576

23.7%

Cargo Volume (thousand tons)

36.1

32.5

11.0%

 

370.2

343.1

7.9%

Total Aircraft Movements (thousands)

71.5

68.8

3.9%

 

849.5

738.2

15.1%

 

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

Statistics

Dec'23

Dec'19

% Var.

 

2023

2019(1)(2)

% Var.

Domestic Passengers (thousands)

3,854

4,093

-5.9%

 

45,679

47,589

-4.0%

International Passengers (thousands)

2,293

2,193

4.6%

 

28,362

28,216

0.5%

Transit Passengers (thousands)

600

729

-17.7%

 

7,106

8,353

-14.9%

Total Passengers (thousands)

6,747

7,016

-3.8%

 

81,147

84,158

-3.6%

Cargo Volume (thousand tons)

36.1

36.4

-0.8%

 

370.2

424.8

-12.8%

Total Aircraft Movements (thousands)

71.5

71.5

0.0%

 

849.5

857.9

-1.0%

(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 10.3% 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 96.2% of December 2019 levels, with all countries except Brazil, Italy and Uruguay above pre-pandemic. International passenger traffic surpassed pre-pandemic levels of December 2019 by 4.6%, while domestic traffic stood at 94.1% of December 2019 levels.

In Argentina, total passenger traffic continued to recover in December, increasing by 14.9% year-over-year (YoY) and surpassing pre-pandemic volumes by 5.7%. Domestic traffic was 9.9% higher than the levels in December 2019, while International traffic continued to recover month after month and reached 97.7% of pre-pandemic levels.

In Italy, passenger traffic grew by 11.3% compared to the same month in 2022, reaching 95.0% of December 2019 levels, up from the 92.7% recorded in November. International passenger traffic, which accounted for over 75% of the total traffic, was at December 2019 levels, while domestic passenger traffic was 18.1% below pre-pandemic levels. Although total traffic is still below pre-pandemic levels, Florence airport exceeded December 2019 traffic volumes.

In Brazil, total passenger traffic increased slightly by 0.1% YoY, reaching 84.4% of December 2019 levels, down from the 85.2% recorded in November. Domestic traffic, which accounted for over 60% of the total traffic, reached 87.4% of pre-pandemic levels, while transit passengers stood at 78.1% of December 2019 levels, a decrease from the 85.4% recorded in November. 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 23.2% YoY, reaching 97.3% of pre-pandemic levels of December 2019. However, passenger traffic increased sequentially on an absolute basis.

In Ecuador, passenger traffic increased 6.4% YoY and surpassed slightly pre-pandemic volumes by 0.5%. While domestic passenger traffic exceeded pre-pandemic levels by 2.0%, International traffic reached 99.4% of December 2019 levels.

In Armenia, passenger traffic continued its solid recovery trend, increasing by 8.2% YoY and surpassing the pre-pandemic levels of December 2019 by 59.9%.

Cargo Volume and Aircraft Movements

Cargo volume increased 11.0% YoY and reached 99.2% of December 2019 levels, or exceeded by 0.6% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia, Ecuador and Uruguay were above pre-pandemic levels, whereas Argentina stood at 99.1%, Italy at 91.5%, and Brazil at 78.7%. Around 70% of cargo volume originated in Argentina, Ecuador and Uruguay.

Aircraft movements increased 3.9% YoY, reaching December 2019 levels, or exceeding by 3.7% when adjusting for the discontinuation of operations in Peru. Aircraft movements were above pre-pandemic levels in Armenia, Uruguay and Argentina, while it stood at 95.6% in Italy, 91.2% in Brazil, and 91.5% in Ecuador.

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

 

Dec'23

Dec'22

% Var.

 

2023

2022

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,822

3,327

14.9%

 

43,672

33,773

29.3%

Italy

491

441

11.3%

 

8,162

6,696

21.9%

Brazil

1,487

1,486

0.1%

 

17,101

15,749

8.6%

Uruguay

185

150

23.2%

 

1,951

1,437

35.8%

Ecuador

382

359

6.4%

 

4,840

4,229

14.5%

Armenia

381

352

8.2%

 

5,421

3,692

46.8%

TOTAL

6,747

6,114

10.3%

 

81,147

65,576

23.7%

(1)

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

Cargo Volume (tons)

 

 

 

 

 

 

Argentina

18,844

16,197

16.3%

191,815

181,667

5.6%

Italy

1,059

1,256

-15.7%

12,939

14,911

-13.2%

Brazil

6,442

6,468

-0.4%

66,634

57,839

15.2%

Uruguay(2)

2,721

2,561

6.2%

31,180

32,114

-2.9%

Ecuador

3,567

2,641

35.1%

33,812

33,259

1.7%

Armenia

3,454

3,394

1.8%

33,852

23,338

45.0%

TOTAL

36,087

32,517

11.0%

370,232

343,128

7.9%

Aircraft Movements

 

 

 

 

 

 

Argentina

40,212

37,308

7.8%

458,594

384,732

19.2%

Italy

4,796

4,358

10.1%

77,929

68,893

13.1%

Brazil

13,257

13,708

-3.3%

158,408

144,611

9.5%

Uruguay

3,612

3,427

5.4%

31,986

27,871

14.8%

Ecuador

6,500

6,652

-2.3%

78,483

76,952

2.0%

Armenia

3,102

3,341

-7.2%

44,073

35,152

25.4%

TOTAL

71,479

68,794

3.9%

849,473

738,211

15.1%

 

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

 

Dec'23

Dec'19

% Var.

 

2023

2019

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

3,822

3,614

5.7%

 

43,672

43,405

0.6%

Italy

491

517

-5.0%

 

8,162

8,239

-0.9%

Brazil

1,487

1,761

-15.6%

 

17,101

19,059

-10.3%

Uruguay

185

190

-2.7%

 

1,951

2,182

-10.6%

Ecuador

382

380

0.5%

 

4,840

4,497

7.6%

Armenia

381

238

59.9%

 

5,421

3,196

69.6%

Peru

 

316

-

 

-

3,579

-

TOTAL

6,747

7,016

-3.8%

 

81,147

84,158

-3.6%

(1)

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

Cargo Volume (tons)

 

 

 

 

 

 

Argentina

18,844

19,011

-0.9%

191,815

227,970

-15.9%

Italy

1,059

1,158

-8.5%

12,939

13,192

-1.9%

Brazil

6,442

8,180

-21.3%

66,634

91,241

-27.0%

Uruguay(2)

2,721

2,582

5.4%

31,180

29,132

7.0%

Ecuador

3,567

3,043

17.2%

33,812

38,006

-11.0%

Armenia

3,454

1,906

81.2%

33,852

20,065

68.7%

Peru

-

509

-

-

5,164

-

TOTAL

36,087

36,388

-0.8%

370,232

424,769

-12.8%

Aircraft Movements

 

 

 

 

 

 

Argentina

40,212

36,875

9.0%

458,594

447,247

2.5%

Italy

4,796

5,016

-4.4%

77,929

78,952

-1.3%

Brazil

13,257

14,541

-8.8%

158,408

161,775

-2.1%

Uruguay

3,612

3,136

15.2%

31,986

29,662

7.8%

Ecuador

6,500

7,101

-8.5%

78,483

82,374

-4.7%

Armenia

3,102

2,244

38.2%

44,073

27,430

60.7%

Peru

-

2,572

-

-

30,473

-

TOTAL

71,479

71,485

0.0%

849,473

857,913

-1.0%

 

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 2023, Corporación América Airports served 81.1 million passengers, 23.7% above the 65.6 million passengers served in 2022 and 3.6% 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/20240117663881/en/

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