Corporación América Airports S.A. Announces Increase in International Passenger Fees in Argentina Starting Mid-March, 2021

Rhea-AI Summary

Corporación América Airports S.A. (NYSE: CAAP) announced the publication of ORSNA’s Resolution No. 4/2021, which increases the international passenger fee from US$51 to US$57 for travelers from AA2000 airports, effective January 14, 2021, for flights starting March 15, 2021. Domestic passenger fees and aircraft fees will remain unchanged until the end of 2021. This resolution follows a 10-year concession extension approved in December 2020, aimed at improving airport services across its network of 52 airports in 7 countries.

Positive

• Increase in international passenger fee will likely enhance revenue, contributing positively to financial performance.
• Concession extension approved in December 2020 supports long-term operational stability.

Negative

• None.

Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) the largest private sector airport operator in the world by number of airports, announced that the Argentine airport regulator, Organismo Regulador del Sistema Nacional de Aeropuertos (“ORSNA”) published today Resolution No. 4/2021 in the Official Gazette which establishes among others:

	i)	an increase of US$6 to US$57 in the international passenger fee for travelers departing from AA2000 airports, in line with the provisions of the Technical Conditions for the Extension, which are part of the 10-year concession extension approved on December 17, 2020. This tariff increase will become effective on January 14, 2021, for flights as of March 15, 2021;
	ii)	domestic passenger fees remain unchanged until the end of 2021, and
	iii)	aircraft fees remain unchanged for both domestic and international air operators.

ORSNA’s Resolution No. 4/2021 will be filed today by the Company through a Form 6-K after market closes together with this release.

About Corporación América Airports
Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 7 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Peru, 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/20210113005924/en/

FAQ

What is the new international passenger fee for CAAP airports?

The international passenger fee has increased from US$51 to US$57.

When will the new fee for international flights take effect?

The new fee will take effect on January 14, 2021, for flights starting March 15, 2021.

Are there any changes to domestic passenger fees and aircraft fees?

Domestic passenger fees and aircraft fees will remain unchanged until the end of 2021.

What was the reason behind the fee increase announced by CAAP?

The fee increase aligns with the provisions outlined in the Technical Conditions for the Extension of the company's 10-year concession.

How many airports does CAAP operate?

Corporación América Airports operates 52 airports across 7 countries.