Corporación América Airports Expands Business in the Brasília Airport Region

Rhea-AI Summary

Corporación América Airports S.A. (NYSE: CAAP) announced an expansion at Brasilia Airport with an investment of R$700 million, expected to generate around 3,500 jobs. The project includes a shopping mall, entertainment center with three theme parks, and a logistics center. Construction work starts in 2022, with the first phase already completed in 2020. The new facilities aim to enhance tourism and boost the local economy, promising to integrate well with the region's needs and expectations.

Positive

• Investment of R$700 million in Brasilia Airport expansion.
• Creation of approximately 3,500 direct and indirect jobs.
• Development of shopping mall and entertainment center expected to boost local tourism.

Negative

• None.

Shopping, entertainment center and logistics center are part of the expansion project that will bring new investments and opportunities.

LUXEMBOURG--(BUSINESS WIRE)-- Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) the largest private sector airport concession operator in the world by number of airports, announced today that its subsidiary Inframerica, which operates the Brasilia Airport in Brazil, will start the expansion works of the airport site, in 2022. This is the second phase of the project, which will be carried out through partnerships, and will comprise the construction of a shopping mall and both, entertainment and logistic centers. The projects begin to be delivered at the end of 2023, with the completion of the works scheduled for the first half of 2024. Inframerica estimates investments of around R$700 million, with the generation of around 3,500 direct and indirect new jobs.

The first development of the project, “Praça Pick Up,” a mobility center that among other things includes several food options and a children's playground, opened in September 2020.

“Brasilia Airport has become a successful model in Brazil, being recognized for its management and infrastructure excellence. Our goal has always been to help the city grow, be more attractive, and these projects will contribute to tourism and the local economy of this beautiful capital city. The Brasilia terminal has always had this special connection with the city, a local meeting point. The support given by the Ministry of Infrastructure, the National Civil Aviation Agency (ANAC), and the Federal District Government (GDF), as well as that of our commercial partners who strongly believed in the project, were fundamental,” said Jorge Arruda, CEO of Inframerica and CFO of CAAP.

In the last four years, the concessionaire's commercial team has carried out several studies and research to arrive at this proposal model. “The entire concept was conceived by the in-house team and after several studies on the population of Brasilia to understand their expectations, we came up with an economically viable project, which is totally aligned with the reality of the region,” explains Ian Joels, commercial director of Inframerica.

Mall

The new mall will be located next to the existing hotel on the access road to the terminal, in a total area of 190,000 square meters, including a space for rent of 40,000 square meters. Inframerica signed a contract with Grupo Partage, a seasoned mall operator with more than 10 malls in operation across the country, to implement and manage the business.

Entertainment Center

The project includes the construction of an innovative entertainment center, which will include three theme parks in a total area of approximately 30,000 square meters.

Logistic Center

Cargo transport is an important part of the project. The airport site will host a Logistic Center of around 120,000 square meters, including a space for rent of 66,000 square meters.

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. The Company is the largest private airport operator in the world based on the number of airports and the tenth largest based on passenger traffic. Currently, the Company operates 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2019, Corporación América Airports served 84.2 million passengers. 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/20220208005615/en/

Investor Relations Contact

Patricio Iñaki Esnaola

Email: patricio.esnaola@caairports.com

Phone: +5411 4899-6716

Source: Corporación América Airports S.A.

FAQ

What is the investment amount for the Brasilia Airport expansion by CAAP?

The investment for the Brasilia Airport expansion is R$700 million.

How many jobs will the Brasilia Airport expansion create?

The expansion is expected to generate around 3,500 direct and indirect jobs.

What facilities will be included in the Brasilia Airport expansion project?

The expansion will include a shopping mall, entertainment center with three theme parks, and a logistics center.

When is the Brasilia Airport expansion expected to be completed?

The completion of the expansion works is scheduled for the first half of 2024.

What phase of the project is currently being announced for Brasilia Airport?

The announcement pertains to the second phase of the expansion project.