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Corporación América Airports S.A. Reports February 2025 Passenger Traffic

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Corporación América Airports (CAAP) reported a 6.0% year-over-year increase in passenger traffic for February 2025, reaching 8.2% YoY when excluding Natal operations. International passenger traffic grew by 11.2%, while domestic traffic rose 2.2% (5.9% ex-Natal).

Key regional performance:

  • Argentina: Total traffic up 9.7% YoY, with domestic traffic rising 5.7% and international traffic surging 19.1%
  • Italy: 14.1% overall growth, with international traffic up 11.8% and domestic traffic increasing 21.9%
  • Brazil: Total traffic declined 1.7% YoY, but showed 9.2% growth when excluding Natal Airport operations

Cargo volume increased by 5.3% YoY, with positive contributions from most countries. Aircraft movements rose 2.0% YoY, primarily driven by Italy (+13.2%) and Argentina (+2.1%).

Corporación América Airports (CAAP) ha riportato un aumento del 6,0% anno su anno nel traffico passeggeri per febbraio 2025, raggiungendo un 8,2% anno su anno escludendo le operazioni di Natal. Il traffico passeggeri internazionale è cresciuto dell'11,2%, mentre il traffico domestico è aumentato del 2,2% (5,9% escludendo Natal).

Performance regionale chiave:

  • Argentina: Traffico totale in aumento del 9,7% anno su anno, con il traffico domestico in crescita del 5,7% e il traffico internazionale in forte aumento del 19,1%
  • Italia: Crescita complessiva del 14,1%, con il traffico internazionale in aumento dell'11,8% e il traffico domestico che cresce del 21,9%
  • Brasile: Traffico totale in calo dell'1,7% anno su anno, ma ha mostrato una crescita del 9,2% escludendo le operazioni dell'Aeroporto di Natal

Il volume delle merci è aumentato del 5,3% anno su anno, con contributi positivi da parte della maggior parte dei paesi. I movimenti aerei sono aumentati del 2,0% anno su anno, principalmente trainati dall'Italia (+13,2%) e dall'Argentina (+2,1%).

Corporación América Airports (CAAP) reportó un aumento del 6,0% interanual en el tráfico de pasajeros para febrero de 2025, alcanzando un 8,2% interanual al excluir las operaciones de Natal. El tráfico de pasajeros internacional creció un 11,2%, mientras que el tráfico nacional aumentó un 2,2% (5,9% excluyendo Natal).

Rendimiento regional clave:

  • Argentina: Tráfico total aumentado un 9,7% interanual, con tráfico nacional en aumento del 5,7% y tráfico internacional disparándose un 19,1%
  • Italia: Crecimiento general del 14,1%, con tráfico internacional en aumento del 11,8% y tráfico nacional aumentando un 21,9%
  • Brasil: Tráfico total disminuyó un 1,7% interanual, pero mostró un crecimiento del 9,2% al excluir las operaciones del Aeropuerto de Natal

El volumen de carga aumentó un 5,3% interanual, con contribuciones positivas de la mayoría de los países. Los movimientos de aeronaves aumentaron un 2,0% interanual, impulsados principalmente por Italia (+13,2%) y Argentina (+2,1%).

코르포라시온 아메리카 공항 (CAAP)는 2025년 2월에 전년 대비 6.0% 증가한 승객 수치를 보고했으며, 나탈 운영을 제외할 경우 8.2% 증가에 달했습니다. 국제 승객 수는 11.2% 증가했으며, 국내 교통은 2.2% 증가했습니다 (나탈 제외 시 5.9%).

주요 지역 성과:

  • 아르헨티나: 전체 교통량이 전년 대비 9.7% 증가했으며, 국내 교통은 5.7% 증가하고 국제 교통은 19.1% 급증했습니다.
  • 이탈리아: 전체 성장률이 14.1%로, 국제 교통은 11.8% 증가하고 국내 교통은 21.9% 증가했습니다.
  • 브라질: 전체 교통량이 전년 대비 1.7% 감소했지만, 나탈 공항 운영을 제외할 경우 9.2% 성장했습니다.

화물량은 전년 대비 5.3% 증가했으며, 대부분의 국가에서 긍정적인 기여가 있었습니다. 항공기 이동은 전년 대비 2.0% 증가했으며, 주로 이탈리아(+13.2%)와 아르헨티나(+2.1%)가 주도했습니다.

Corporación América Airports (CAAP) a rapporté une augmentation de 6,0% par rapport à l'année précédente du trafic passagers pour février 2025, atteignant 8,2% par rapport à l'année précédente en excluant les opérations de Natal. Le trafic passagers international a augmenté de 11,2%, tandis que le trafic domestique a crû de 2,2% (5,9% hors Natal).

Performance régionale clé :

  • Argentine : Trafic total en hausse de 9,7% par rapport à l'année précédente, avec un trafic domestique en augmentation de 5,7% et un trafic international en forte hausse de 19,1%
  • Italie : Croissance globale de 14,1%, avec un trafic international en hausse de 11,8% et un trafic domestique en augmentation de 21,9%
  • Brésil : Trafic total en baisse de 1,7% par rapport à l'année précédente, mais montrant une croissance de 9,2% en excluant les opérations de l'aéroport de Natal

Le volume de fret a augmenté de 5,3% par rapport à l'année précédente, avec des contributions positives de la plupart des pays. Les mouvements d'avions ont augmenté de 2,0% par rapport à l'année précédente, principalement tirés par l'Italie (+13,2%) et l'Argentine (+2,1%).

Corporación América Airports (CAAP) berichtete von einem Jahreswachstum von 6,0% im Passagieraufkommen für Februar 2025, was ohne die Operationen in Natal 8,2% entspricht. Der internationale Passagierverkehr wuchs um 11,2%, während der Inlandsverkehr um 2,2% anstieg (5,9% ohne Natal).

Wichtige regionale Leistungen:

  • Argentinien: Gesamtverkehr stieg um 9,7% im Jahresvergleich, der Inlandsverkehr wuchs um 5,7% und der internationale Verkehr sprang um 19,1% an.
  • Italien: Insgesamt 14,1% Wachstum, mit einem Anstieg des internationalen Verkehrs um 11,8% und des Inlandsverkehrs um 21,9%.
  • Brasilien: Gesamtverkehr ging um 1,7% im Jahresvergleich zurück, zeigte jedoch ein Wachstum von 9,2%, wenn man die Operationen des Flughafens Natal ausschließt.

Das Frachtvolumen stieg im Jahresvergleich um 5,3%, mit positiven Beiträgen aus den meisten Ländern. Die Flugbewegungen stiegen um 2,0% im Jahresvergleich, hauptsächlich angetrieben von Italien (+13,2%) und Argentinien (+2,1%).

Positive
  • Strong international traffic growth of 11.2% YoY
  • Argentina shows robust performance with 19.1% YoY international traffic growth
  • Italy posts strong growth with 14.1% total traffic increase
  • Cargo volume up 5.3% YoY across most markets
  • Aircraft movements increased 2.0% YoY
Negative
  • Brazil's total traffic declined 1.7% YoY
  • Ecuador's traffic decreased 2.3% YoY due to security concerns
  • Armenia's passenger traffic dropped 4.5% YoY
  • Loss of Natal Airport operations impacts overall traffic numbers

Insights

CAAP's February 2025 traffic report reveals robust operational momentum that signals positive revenue implications across its airport portfolio. The 6.0% YoY growth in total passenger traffic (or 8.2% excluding discontinued Natal operations) demonstrates healthy demand, with the 11.2% surge in international traffic particularly noteworthy given these passengers typically generate higher aeronautical fees and commercial revenues.

The geographic performance shows strategic strength in CAAP's diversified portfolio. Argentina's 9.7% total traffic growth with a remarkable 19.1% international traffic increase highlights recovery in this key market. Meanwhile, Italy delivered 14.1% growth with strong performance in both international (11.8%) and domestic (21.9%) segments. This diversification helps offset challenges in smaller markets like Ecuador (-2.3%) and Armenia (-4.5%).

Operational indicators suggest improving airline dynamics within CAAP's airports. JetSMART's 65% YoY passenger increase in Argentina following fleet expansion with three A321neo aircraft demonstrates how airline capacity growth directly benefits CAAP's traffic volumes. New route launches across multiple markets – including Flybondi's Buenos Aires-Río Gallegos service and new international connections in Uruguay – create additional passenger flow opportunities.

The 5.3% increase in cargo volume provides a valuable supplementary revenue stream, while the 2.0% growth in aircraft movements lagging behind passenger growth indicates improving load factors and operational efficiency across CAAP's network.

Brazil's apparent decline (-1.7%) transforms into 9.2% growth when adjusted for Natal's planned exit, revealing underlying strength despite industry constraints in that market. This operational performance, particularly the high-value international segment growth, points to strengthening revenue fundamentals across CAAP's airport portfolio.

Total passenger traffic up 6.0% YoY, or up 8.2% YoY ex-Natal

International passenger traffic up 11.2% YoY; up 19.1% YoY in Argentina

LUXEMBOURG--(BUSINESS WIRE)-- Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today a 6.0% year-on-year (YoY) increase in passenger traffic in February 2025. Excluding Natal for comparison purposes, total traffic in February increased by 8.2% YoY.

Monthly Passenger Traffic Performance (In million PAX)

Monthly Passenger Traffic Performance (In million PAX)

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2025 vs. 2024)

Statistics

Feb'25

Feb'24

% Var.

 

YTD’25

YTD'24

% Var.

Domestic Passengers (thousands)

3,292

3,219

2.2%

 

6,864

6,829

0.5%

International Passengers (thousands)

2,442

2,197

11.2%

 

5,160

4,583

12.6%

Transit Passengers (thousands)

588

546

7.6%

 

1,292

1,189

8.7%

Total Passengers (thousands)1

6,322

5,962

6.0%

 

13,316

12,602

5.7%

Cargo Volume (thousand tons)

29.6

28.1

5.3%

 

61.6

56.6

8.8%

Total Aircraft Movements (thousands)

64.2

62.9

2.0%

 

134.8

132.7

1.6%

 

1 Excluding Natal for comparison purposes, total passenger traffic was up 8.2% in February.

Passenger Traffic Overview

Total passenger traffic increased by 6.0% in February compared to the same month in 2024, or by 8.2% when adjusted for the discontinuation of operations at Natal Airport. Domestic passenger traffic increased by 2.2% year-over-year or by 5.9% when excluding Natal. This growth was primarily driven by a recovery in domestic traffic in Argentina, along with strong performances in Italy and Brazil (excluding Natal). Meanwhile, international traffic grew by 11.2%, with all operating countries contributing positively year-over-year, except Armenia and Ecuador. Notably, Argentina accounted for 87% of the total international traffic growth.

In Argentina, total passenger traffic increased by 9.7% YoY after two consecutive months of record-high traffic figures. This growth was primarily driven by the ongoing recovery in domestic traffic, which rose by 5.7% YoY, marking three consecutive months of positive YoY growth. Notably, domestic traffic YoY comparisons are no longer affected by the ‘Previaje’ incentive program, which was suspended in December 2023 following the swearing-in of the new government. JetSMART, which recently added three Airbus A321neo aircraft, has continued to gain market share, serving 65% more passengers than in February 2024. Also in February, Flybondi inaugurated the Buenos Aires–Río Gallegos route, operating six weekly flights. International passenger traffic remained strong, increasing by a solid 19.1% YoY. The routes with the highest occupancy levels included Rio de Janeiro, São Paulo, Florianopolis, Madrid, Miami, and Panama.

In Italy, passenger traffic grew by 14.1% compared to the same month in 2024. International passenger traffic, which accounted for over 75% of the total traffic, increased by 11.8% YoY, driven by an 18.1% increase at Pisa airport and a 5.0% increase at Florence airport. Domestic passenger traffic increased by a robust 21.9% YoY, with strong performances at both Pisa and Florence airports.

In Brazil, total passenger traffic decreased by 1.7% YoY, or increased by 9.2% YoY when adjusting for the discontinuation of Natal Airport. These results reflect an improvement in traffic trends despite the still challenging aviation context and aircraft constraints in the country. Domestic traffic, which accounted for over 55% of the total traffic, was down 9.7% YoY, or up 6.9% when excluding Natal, while transit passengers were up 9.9% YoY. As a reminder, following the friendly termination process concluded in February 2024, CAAP no longer operates Natal Airport, effective February 19, 2024. Therefore, statistics for Natal are available up to February 18, 2024.

In Uruguay, total passenger traffic, predominantly international, continued its recovery, rising by 1.6% YoY, driven by new routes launched for the summer season. In December, SKY Airline introduced a new route connecting Montevideo with Rio de Janeiro, while Azul Linhas Aéreas began operating flights to Florianópolis. At Punta del Este Airport, the company kicked off the summer season with the first direct flight from Santiago de Chile to Punta del Este, operated by LATAM, with three weekly flights from November to March.

In Ecuador, where security concerns persist, passenger traffic declined by 2.3% YoY. International passenger traffic decreased by 2.5% YoY, while domestic traffic fell by 2.8% YoY, impacted by high airfare prices that have reduced travel demand.

In Armenia, passenger traffic decreased by 4.5% YoY, following a strong recovery post-Covid. Despite YoY traffic decline in February, travel in Armenia has been benefiting from the introduction of new airlines and routes, along with an increase in flight frequencies.

Cargo Volume and Aircraft Movements

Cargo volume increased by 5.3% compared to the same month in 2024, with positive YoY contributions from all countries of operation, except Ecuador: Argentina (+4.6%), Uruguay (+19.3%), Armenia (+2.9%), Italy (+0.6%), Brazil (+6.3%), and Ecuador (-0.2%). Argentina, Brazil, and Armenia accounted for almost 80% of the total cargo volume in February.

Aircraft movements increased by 2.0% YoY, mainly driven by Italy and Argentina with YoY increases of 13.2% and 2.1%, respectively. Argentina, Brazil, and Ecuador accounted for more 85% of total aircraft movements in February.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2025 vs. 2024)

 

Feb'25

Feb'24

% Var.

 

YTD'25

YTD'24

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina

3,798

3,461

9.7%

 

8,016

7,200

11.3%

Italy

505

442

14.1%

 

990

902

9.8%

Brazil (1)

1,172

1,192

-1.7%

 

2,455

2,690

-8.7%

Uruguay

209

206

1.6%

 

452

437

3.3%

Ecuador

344

352

-2.3%

 

717

697

2.8%

Armenia

294

308

-4.5%

 

687

676

1.6%

TOTAL

6,322

5,962

6.0%

 

13,316

12,602

5.7%

(1)

Following the friendly termination process concluded in February 2024, CAAP no longer operates Natal airport. Statistics for Natal are available up to February 18, 2024.

 

 

 

 

 

 

 

 

Cargo Volume (tons)

 

 

 

 

 

 

 

Argentina

14,831

14,173

4.6%

 

32,489

29,643

9.6%

Italy

1,014

1,009

0.6%

 

2,087

2,037

2.5%

Brazil

5,313

4,999

6.3%

 

9,747

9,652

1.0%

Uruguay

2,713

2,275

19.3%

 

5,663

4,297

31.8%

Ecuador

2,707

2,712

-0.2%

 

5,518

5,665

-2.6%

Armenia

3,001

2,916

2.9%

 

6,129

5,345

14.7%

TOTAL

29,580

28,083

5.3%

 

61,633

56,640

8.8%

Aircraft Movements

 

 

 

 

 

 

 

Argentina

36,941

36,174

2.1%

 

78,057

75,526

3.4%

Italy

4,581

4,046

13.2%

 

9,105

8,405

8.3%

Brazil

11,394

11,394

0.0%

 

22,466

24,059

-6.6%

Uruguay

2,952

2,978

-0.9%

 

6,851

6,813

0.6%

Ecuador

5,956

5,986

-0.5%

 

12,809

12,580

1.8%

Armenia

2,361

2,365

-0.2%

 

5,509

5,326

3.4%

TOTAL

64,185

62,943

2.0%

 

134,797

132,709

1.6%

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2024, Corporación América Airports served 79.0 million passengers, 2.7% (or 0.4% excluding Natal) below the 81.1 million passengers served in 2023, and 6.2% 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.

Investor Relations Contact

Patricio Iñaki Esnaola

Email: patricio.esnaola@caairports.com

Phone: +5411 4899-6716

Source: Corporación América Airports

FAQ

What was CAAP's passenger traffic growth in February 2025?

CAAP reported 6.0% YoY passenger traffic growth, or 8.2% when excluding Natal operations

How did international traffic perform for CAAP in February 2025?

International passenger traffic grew 11.2% YoY, with Argentina accounting for 87% of the growth

What was the impact of Natal Airport's discontinuation on CAAP's Brazilian operations?

Brazil's traffic declined 1.7% YoY, but showed 9.2% growth when excluding Natal Airport operations

How did CAAP's cargo volume perform in February 2025?

Cargo volume increased 5.3% YoY, with positive contributions from all countries except Ecuador

What was CAAP's performance in Argentina for February 2025?

Argentina's total traffic grew 9.7% YoY, with domestic up 5.7% and international traffic up 19.1%
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