Corporación América Airports S.A. Reports December 2022 Passenger Traffic

Rhea-AI Summary

Corporación América Airports S.A. (CAAP) reported a significant 30.5% increase in December 2022 passenger traffic compared to 2021, achieving 87.2% of pre-pandemic levels from December 2019. Domestic passenger traffic grew 15.7% year-over-year, while international passengers surged 74.3%. Notably, traffic in Armenia exceeded pre-pandemic levels for the eighth month in a row, reaching 147.7%. Conversely, passenger traffic in Brazil fell 2.5% year-over-year. Cargo volume saw a minor uptick of 1.6% year-over-year but remained 10.6% below December 2019 figures. Overall, aircraft movements rose 20.0%, nearing 96.2% of December 2019 levels.

Positive

• 30.5% increase in total passenger traffic YoY.
• Total passenger traffic reached 87.2% of December 2019 levels.
• Domestic passenger traffic grew 15.7% YoY.
• International passenger traffic surged 74.3% YoY.
• Traffic in Armenia exceeded pre-pandemic levels at 147.7%.

Negative

• Passenger traffic in Brazil decreased 2.5% YoY.
• Cargo volume remains 10.6% below December 2019 levels.

Total passenger traffic up 30.5% YoY reaching 87.2% of December 2019 levels;

Armenia above pre-pandemic levels while Ecuador and Argentina at 95% and 92%, respectively

LUXEMBOURG--(BUSINESS WIRE)-- Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) a leading private airport operator in the world, reported today a 30.5% YoY increase in passenger traffic in December 2022, reaching 87.2% of December 2019 levels.

Passenger Traffic Monthly Performance (vs. 2019) (Photo: Business Wire)

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2022 vs. 2021)
Statistics		Dec'22		Dec'21		% Var.			YTD’22		YTD'21			% Var.
Domestic Passengers (thousands)		3,480		3,008		15.7%			37,791		22,532			67.7%
International Passengers (thousands)		1,976		1,134		74.3%			21,334		8,238			159.0%
Transit Passengers (thousands)		658		544		21.1%			6,451		4,923			31.0%
Total Passengers (thousands)		6,114		4,686		30.5%			65,576		35,693			83.7%
Cargo Volume (thousand tons)		32.5		32.0		1.6%			343.1		323.5			6.1%
Total Aircraft Movements (thousands)		68.8		57.3		20.0%			738.2		497.2			48.5%
Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2022 vs. 2019)
Statistics		Dec'22		Dec'19		% Var.			YTD’22		YTD'19(1)(2)			% Var.
Domestic Passengers (thousands)		3,480		4,093		-15.0%			37,791		47,589			-20.6%
International Passengers (thousands)		1,976		2,193		-9.9%			21,334		28,216			-24.4%
Transit Passengers (thousands)		658		729		-9.7%			6,451		8,353			-22.8%
Total Passengers (thousands)		6,114		7,016		-12.8%			65,576		84,158			-22.1%
Cargo Volume (thousand tons)		32.5		36.4		-10.6%			343.1		424.8			-19.2%
Total Aircraft Movements (thousands)		68.8		71.5		-3.8%			738.2		857.9			-14.0%

(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 30.5% compared to the same month of 2021, supported by an ongoing recovery in travel demand following the lifting of travel restrictions, as reflected by higher load factors and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 87.2% of December 2019 levels, in line with the 87.4% posted in November, with international and domestic passenger traffic reaching 90.1% and 85.0% of December 2019 levels, respectively.

In Argentina, total passenger traffic continued to recover increasing 56.0% YoY and reaching 92.1% of December 2019 levels, up from the 91.7% posted in November. International passenger traffic reached 82.7% of pre-pandemic levels, improving from the 81.7% recorded in November, showing a continued recovery. Domestic passenger traffic reached 97.2% of December 2019 levels, up from the 96.9% posted in November.

In Italy, passenger traffic grew 49.7% YoY reaching 85.4% of December 2019 levels, up from the 82.7% posted in November, with international passenger traffic, which accounted for almost 75% of total traffic, reaching 86.0% of December 2019 levels.

In Brazil, total passenger traffic decreased 2.5% YoY, and reached 84.3% of December 2019 levels, down from 86.3% recorded in November. Domestic traffic, which accounted for 60% of total traffic, improved to 81.1% of pre-pandemic levels whereas transit passengers reached 92.7% of December 2019 levels. Traffic in Brazil was impacted by lower public officials-related traffic, due to the change in Brazilian Administration, and higher airfare impacting travel demand.

In Uruguay, total passenger traffic, which is largely international, increased 46.0% YoY and reached 79.0% of December 2019 levels, down from the 87.9% posted in November.

In Ecuador, passenger traffic increased 25.4% YoY to 94.5% of pre-pandemic levels. International passenger traffic stood at 92.2% of pre-pandemic levels, supported by routes to Europe, as well as the US and Panama, whereas domestic passenger traffic reached 97.2% of December 2019 pre-pandemic levels.

In Armenia, passenger traffic surpassed pre-pandemic levels for the eighth consecutive month, at 147.7% of December 2019 figures, improving from the 125.9% and 141.1% recorded in October and November, respectively. On a YoY basis, passenger traffic increased 59.2%.

Cargo Volume and Aircraft Movements

Cargo volume increased 1.6% YoY to 89.4% of December 2019 levels, or to 90.6% when adjusting for the discontinuation in Peru. Cargo volumes in Armenia and Italy were above pre-pandemic levels, whereas Ecuador and Uruguay stood at 86.8% and 99.2%, respectively. Almost 70% of cargo volume originated in Argentina and Brazil, which reported volume declines of 14.8% and 20.9% versus December 2019 pre-pandemic levels.

Aircraft movements increased 20.0% YoY reaching 96.2% of December 2019 levels, or 99.8% when adjusting for the discontinuation of operations in Peru. Around 75% of aircraft movements originated in Argentina and Brazil, which reached 101.2% and 94.3% of December 2019 levels, respectively. Aircraft movements in all countries of operations were above 90% of December 2019 levels, with Armenia, Uruguay and Argentina exceeding pre-pandemic levels by 48.9%, 9.3%, and 1.2%, respectively, except for Italy that stood at 86.9%.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2022 vs. 2021)
		Dec'22		Dec'21		% Var.			YTD'22		YTD'21		% Var.
Passenger Traffic (thousands)
Argentina(1)		3,327		2,132		56.0%			33,773		13,275		154.4%
Italy		441		295		49.7%			6,696		2,817		137.7%
Brazil		1,486		1,524		-2.5%			15,749		12,316		27.9%
Uruguay		150		103		46.0%			1,437		488		194.2%
Ecuador		359		287		25.4%			4,229		2,513		68.3%
Armenia		352		221		59.2%			3,692		2,400		53.8%
Peru		-		125		-100.0%			-		1,884		-100.0%
TOTAL		6,114		4,686		30.5%			65,576		35,693		83.7%
(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table.

Cargo Volume (tons)
Argentina		16,197		17,459		-7.2%			181,667		174,422		4.2%
Italy		1,256		1,609		-21.9%			14,911		15,321		-2.7%
Brazil		6,468		5,294		22.2%			57,839		60,010		-3.6%
Uruguay(2)		2,561		2,980		-14.1%			32,114		30,438		5.5%
Ecuador		2,641		2,196		20.2%			33,259		22,982		44.7%
Armenia		3,394		2,274		49.3%			23,338		17,324		34.7%
Peru		-		194		-100.0%			-		3,011		-100.0%
TOTAL		32,517		32,005		1.6%			343,128		323,508		6.1%
Aircraft Movements
Argentina		37,308		27,885		33.8%			384,732		227,265		69.3%
Italy		4,358		3,681		18.4%			68,893		39,577		74.1%
Brazil		13,708		13,410		2.2%			144,611		117,894		22.7%
Uruguay		3,427		3,030		13.1%			27,871		17,770		56.8%
Ecuador		6,652		6,067		9.6%			76,952		55,882		37.7%
Armenia		3,341		1,906		75.3%			35,152		21,312		64.9%
Peru		-		1,333		-100.0%			-		17,489		-100.0%
TOTAL		68,794		57,312		20.0%			738,211		497,189		48.5%

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2022 vs. 2019)
		Dec'22		Dec'19		% Var.			YTD'22		YTD'19		% Var.
Passenger Traffic (thousands)
Argentina(1)		3,327		3,614		-7.9%			33,773		43,405		-22.2%
Italy		441		517		-14.6%			6,696		8,239		-18.7%
Brazil		1,486		1,761		-15.7%			15,749		19,059		-17.4%
Uruguay		150		190		-21.0%			1,437		2,182		-34.2%
Ecuador		359		380		-5.5%			4,229		4,497		-6.0%
Armenia		352		238		47.7%			3,692		3,196		15.5%
Peru		-		316		-100.0%			-		3,579		-100.0%
TOTAL		6,114		7,016		-12.8%			65,576		84,158		-22.1%
(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table.

Cargo Volume (tons)
Argentina		16,197		19,011		-14.8%			181,667		227,970		-20.3%
Italy		1,256		1,158		8.5%			14,911		13,192		13.0%
Brazil		6,468		8,180		-20.9%			57,839		91,241		-36.6%
Uruguay(2)		2,561		2,582		-0.8%			32,114		29,132		10.2%
Ecuador		2,641		3,043		-13.2%			33,259		38,006		-12.5%
Armenia		3,394		1,906		78.1%			23,338		20,065		16.3%
Peru		-		509		-100.0%			-		5,164		-100.0%
TOTAL		32,517		36,388		-10.6%			343,128		424,769		-19.2%
Aircraft Movements
Argentina		37,308		36,875		1.2%			384,732		447,247		-14.0%
Italy		4,358		5,016		-13.1%			68,893		78,952		-12.7%
Brazil		13,708		14,541		-5.7%			144,611		161,775		-10.6%
Uruguay		3,427		3,136		9.3%			27,871		29,662		-6.0%
Ecuador		6,652		7,101		-6.3%			76,952		82,374		-6.6%
Armenia		3,341		2,244		48.9%			35,152		27,430		28.2%
Peru		-		2,572		-100.0%			-		30,473		-100.0%
TOTAL		68,794		71,485		-3.8%			738,211		857,913		-14.0%

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 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/20230116005065/en/

Investor Relations Contact

Patricio Iñaki Esnaola

Email: patricio.esnaola@caairports.com

Phone: +5411 4899-6716

Source: Corporación América Airports

FAQ

What was the passenger traffic growth for CAAP in December 2022?

CAAP reported a 30.5% increase in passenger traffic in December 2022 compared to December 2021.

How does CAAP's December 2022 traffic compare to pre-pandemic levels?

Total passenger traffic reached 87.2% of December 2019 levels.

What were the cargo volume changes reported by CAAP?

Cargo volume increased by 1.6% YoY but was 10.6% below December 2019 figures.

Which country showed the highest passenger traffic recovery for CAAP?

Armenia's passenger traffic surpassed pre-pandemic levels, reaching 147.7% of December 2019 figures.

What challenges did CAAP face in Brazil's passenger traffic?

Brazil experienced a 2.5% decrease in passenger traffic compared to the previous year.