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Corporación América Airports S.A. Reports November 2024 Passenger Traffic

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Corporación América Airports (CAAP) reported a 2.7% year-over-year decrease in passenger traffic for November 2024, or -0.2% excluding Natal airport. International passenger traffic grew 6.6% YoY, while domestic traffic declined 6.7%. Notable highlights include:

- Argentina: Total traffic down 3.3% YoY, with international traffic up 10.3%
- Italy: Strong growth of 15.3% YoY
- Brazil: -8.8% YoY (+4.0% excluding Natal)
- Uruguay: +4.4% YoY with new route developments

Cargo volume increased significantly by 23.2% YoY, with positive contributions from most countries. Aircraft movements rose 7.0% YoY, showing growth across all regions except Brazil.

Corporación América Airports (CAAP) ha riportato una diminuzione del 2,7% nel traffico passeggeri rispetto allo scorso anno per novembre 2024, o -0,2% escludendo l'aeroporto di Natal. Il traffico passeggeri internazionale è cresciuto del 6,6% rispetto all'anno precedente, mentre il traffico domestico è diminuito del 6,7%. I punti salienti includono:

- Argentina: Traffico totale in calo del 3,3% rispetto all'anno precedente, con un aumento del traffico internazionale del 10,3%
- Italia: Forte crescita del 15,3% rispetto all'anno precedente
- Brasile: -8,8% rispetto all'anno precedente (+4,0% escludendo Natal)
- Uruguay: +4,4% rispetto all'anno precedente con nuovi sviluppi di rotte

Il volume delle merci è aumentato significativamente del 23,2% rispetto all'anno precedente, con contributi positivi da parte della maggior parte dei paesi. I movimenti aerei sono aumentati del 7,0% rispetto all'anno precedente, mostrando crescite in tutte le regioni tranne il Brasile.

Corporación América Airports (CAAP) informó una disminución del 2,7% en el tráfico de pasajeros interanual para noviembre de 2024, o -0,2% sin incluir el aeropuerto de Natal. El tráfico de pasajeros internacionales creció un 6,6% interanual, mientras que el tráfico doméstico cayó un 6,7%. Los aspectos destacados incluyen:

- Argentina: Tráfico total en baja del 3,3% interanual, con un aumento del tráfico internacional del 10,3%
- Italia: Fuerte crecimiento del 15,3% interanual
- Brasil: -8,8% interanual (+4,0% sin incluir Natal)
- Uruguay: +4,4% interanual con nuevos desarrollos de rutas

El volumen de carga aumentó significativamente un 23,2% interanual, con contribuciones positivas de la mayoría de los países. Los movimientos de aeronaves aumentaron un 7,0% interanual, mostrando crecimiento en todas las regiones excepto Brasil.

코르포라시온 아메리카 공항 (CAAP)는 2024년 11월 기준으로 연간 여객 교통량이 2.7% 감소했다고 보고했으며, 나탈 공항을 제외하면 -0.2% 감소했습니다. 국제 여객 교통량은 전년 대비 6.6% 증가했지만, 국내 교통량은 6.7% 감소했습니다. 주요 하이라이트는 다음과 같습니다:

- 아르헨티나: 전체 교통량이 전년 대비 3.3% 감소하고, 국제 교통량은 10.3% 증가했습니다.
- 이탈리아: 전년 대비 15.3%의 강력한 성장
- 브라질: -8.8% 감소 (+4.0% 나탈 제외)
- 우루과이: 새로운 노선 개발로 전년 대비 +4.4% 증가

화물 물량은 전년 대비 23.2% 크게 증가했으며, 대부분의 국가에서 긍정적인 기여를 받았습니다. 항공기 운항은 전년 대비 7.0% 증가하여 브라질을 제외한 모든 지역에서 성장을 나타냈습니다.

Corporación América Airports (CAAP) a signalé une baisse de 2,7% du trafic passagers par rapport à l'année précédente pour novembre 2024, soit -0,2% en excluant l'aéroport de Natal. Le trafic passagers international a augmenté de 6,6% par rapport à l'année précédente, tandis que le trafic domestique a diminué de 6,7%. Les points clés comprennent :

- Argentine : Trafic total en baisse de 3,3% par rapport à l'année précédente, avec un trafic international en hausse de 10,3%
- Italie : Forte croissance de 15,3% par rapport à l'année précédente
- Brésil : -8,8% par rapport à l'année précédente (+4,0% en excluant Natal)
- Uruguay : +4,4% par rapport à l'année précédente avec de nouveaux développements de routes

Le volumen des marchandises a augmenté significativement de 23,2% par rapport à l'année précédente, avec des contributions positives de la plupart des pays. Les mouvements d'avion ont augmenté de 7,0% par rapport à l'année précédente, montrant une croissance dans toutes les régions sauf le Brésil.

Corporación América Airports (CAAP) meldete einen Rückgang des Passagieraufkommens um 2,7% im Vergleich zum Vorjahr für November 2024, beziehungsweise -0,2% ohne den Flughafen Natal. Der internationale Passagierverkehr wuchs um 6,6% im Jahresvergleich, während der Inlandsverkehr um 6,7% sank. Erwähnenswerte Höhepunkte sind:

- Argentinien: Gesamter Verkehr um 3,3% im Jahresvergleich gesunken, internationaler Verkehr jedoch um 10,3% gestiegen
- Italien: Starker Anstieg von 15,3% im Jahresvergleich
- Brasilien: -8,8% im Jahresvergleich (+4,0% ohne Natal)
- Uruguay: +4,4% im Jahresvergleich mit neuen Routenentwicklungen

Frachtvolumen stieg signifikant um 23,2% im Jahresvergleich, mit positiven Beiträgen aus den meisten Ländern. Flugbewegungen stiegen um 7,0% im Jahresvergleich und zeigten in allen Regionen Wachstum außer Brasilien.

Positive
  • International passenger traffic increased 6.6% YoY
  • Cargo volume grew 23.2% YoY across most countries
  • Aircraft movements up 7.0% YoY
  • Strong performance in Italy with 15.3% total traffic growth
  • New route developments and increased flight frequencies in multiple markets
Negative
  • Overall passenger traffic declined 2.7% YoY
  • Domestic passenger traffic decreased 6.7% YoY
  • Brazil traffic down 8.8% YoY due to Natal airport discontinuation
  • Argentina domestic traffic declined 7.2% YoY amid recession
  • Ecuador traffic decreased 2.6% YoY due to high airfare prices

Insights

The November traffic report reveals mixed performance across CAAP's airport portfolio. While total passenger traffic declined 2.7% YoY, the adjusted decline excluding Natal was minimal at 0.2%. Key positives include strong international traffic growth of 6.6%, particularly in Argentina and Italy and robust cargo volume increase of 23.2%. Italy's impressive 15.3% total traffic growth and Uruguay's 4.4% increase demonstrate solid regional diversification. However, challenges persist in Brazil and Ecuador with respective declines of 8.8% and 2.6%. The 7.0% increase in aircraft movements suggests airlines are optimizing operations despite passenger volume fluctuations. The mixed performance reflects both regional economic challenges and recovery opportunities across CAAP's diversified airport network.

The data points to evolving market dynamics in Latin American aviation. Argentina's domestic market shows signs of structural change with budget carriers JetSMART and Flybondi gaining momentum despite economic headwinds. The cessation of the "Previaje" program's stimulus effect reveals the underlying market fundamentals. International routes show resilience with new carrier entries and increased frequencies from major airlines like Emirates and United. Italy's strong performance, particularly in Florence and Pisa, demonstrates successful market penetration in Europe. Brazil's adjusted growth of 4.0% (ex-Natal) indicates recovery potential despite operational constraints. These trends suggest a gradual shift toward a more competitive and diverse aviation landscape across CAAP's markets.

Total passenger traffic down 2.7% YoY, or 0.2% YoY ex-Natal

International passenger traffic up 6.6% YoY; up 10.3% 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 2.7% year-on-year (YoY) decrease in passenger traffic in November 2024. Excluding Natal for comparison purposes, total traffic in November decreased by 0.2% YoY.

Monthly Passenger Traffic Performance (In million PAX) (Graphic: Business Wire)

Monthly Passenger Traffic Performance (In million PAX) (Graphic: Business Wire)

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2024 vs. 2023)

 

 

 

 

Statistics

Nov'24

Nov'23

% Var.

 

YTD’24

YTD'23

% Var.

Domestic Passengers (thousands)

3,663

3,927

-6.7%

 

37,224

41,826

-11.0%

International Passengers (thousands)

2,355

2,209

6.6%

 

28,203

26,068

8.2%

Transit Passengers (thousands)

558

626

-10.9%

 

6,588

6,506

1.3%

Total Passengers (thousands)1

6,576

6,761

-2.7%

 

72,015

74,400

-3.2%

Cargo Volume (thousand tons)

40.0

32.5

23.2%

 

358.6

334.1

7.3%

Total Aircraft Movements (thousands)

68.6

64.1

7.0%

 

750.4

778.0

-3.5%

1 Excluding Natal for comparison purposes, total passenger traffic was down 0.2% in November and 1.0% YTD.

Passenger Traffic Overview

Total passenger traffic declined by 2.7% in November compared to the same month in 2023, or 0.2% when adjusting for the discontinuation of Natal airport. Domestic passenger traffic decreased by 6.7% YoY, or 2.6% when excluding Natal, primarily due to weaker YoY domestic traffic performance in Argentina. International traffic increased by 6.6%, mainly driven by growth in Argentina and Italy.

In Argentina, total passenger traffic declined by 3.3% YoY, an improvement compared to the 7.8% YoY decline recorded in October. This result was primarily driven by weaker performance in domestic traffic, which fell by 7.2% YoY. Last year, domestic traffic benefited from incentives provided by a government program called "Previaje" to boost domestic tourism; however, it continued to be impacted by the ongoing recession in the country. JetSMART has continued to gain market share since initiating its growth strategy a few months ago, while Flybondi increased its operational capacity by 13% with the addition of two more aircraft. International passenger traffic increased by 10.3% YoY, up from the 7.0% YoY increase recorded in October. Among other developments, Avianca inaugurated its Guayaquil–Ezeiza route with three weekly flights, and Paranair launched the Jujuy–Asunción route. Additionally, Emirates, Iberia, and United increased their flight frequencies during the month. International passenger traffic in November also benefited from the final game of the Libertadores Cup, with Azul, Gol, JetSMART, and Flybondi scheduling charter flights for the event.

In Italy, passenger traffic grew by 15.3% compared to the same month in 2023. International passenger traffic, which accounted for almost 75% of the total traffic, increased by 10.7% YoY, driven by a 13.7% increase at Florence airport and an 8.1% increase at Pisa airport. Domestic passenger traffic increased by a strong 30.6% YoY, with strong performances at both Pisa and Florence airports.

In Brazil, total passenger traffic decreased by 8.8% YoY, or increased by 4.0% 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, along with the positive impact of the temporary closure of Porto Alegre airport. Domestic traffic, which accounted for 60% of the total traffic, was down 10.7% YoY, or up 10.3% when excluding Natal, while transit passengers were down 7.1% 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 to recover, increasing by 4.4% YoY. American Airlines resumed its Montevideo–Miami route with three weekly flights, which will increase to daily service during the high season. At Punta del Este Airport, the company is inaugurating the summer season with the first direct flight from Santiago de Chile to Punta del Este. From November to March, LATAM will offer three weekly flights to connect these two destinations.

In Ecuador, passenger traffic decreased by 2.6% YoY, following a strong recovery in 2023. International passenger traffic decreased by 1.9% YoY, while domestic traffic decreased by 3.7% YoY, impacted by high airfare prices affecting travel demand.

In Armenia, passenger traffic decreased by 0.2% YoY, consistent with last month's performance and following a strong recovery in 2023, which benefited from the introduction of new airlines and routes, as well as an increase in flight frequencies. The introduction of new routes has continued into 2024.

Cargo Volume and Aircraft Movements

Cargo volume increased by 23.2% compared to the same month in 2023, with positive YoY contributions from all countries of operation, except for Italy and Ecuador: Argentina (+28.2%), Uruguay (+17.1%), Armenia (+80.3%), Brazil (+5.2%), Ecuador (-0.3%) and Italy (-5.0%). Argentina, Brazil, and Armenia accounted for more than 80% of the total cargo volume in November.

Aircraft movements increased by 7.0% YoY, with positive YoY contributions from all countries of operation, except for Brazil: Argentina (+14.6%), Uruguay (+3.6%), Armenia (+2.7%), Ecuador (+3.6%), Italy (+5.6%), and Brazil (-9.8%). Argentina, Brazil, and Ecuador accounted for more than 80% of total aircraft movements in November.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2024 vs. 2023)

 

 

 

 

 

Nov'24

Nov'23

% Var.

 

YTD'24

YTD'23

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina

3,793

3,923

-3.3%

 

38,051

39,850

-4.5%

Italy

554

480

15.3%

 

8,473

7,671

10.4%

Brazil (1)

1,303

1,429

-8.8%

 

14,210

15,614

-9.0%

Uruguay

176

169

4.4%

 

2,041

1,766

15.6%

Ecuador

381

391

-2.6%

 

4,294

4,458

-3.7%

Armenia

368

369

-0.2%

 

4,946

5,041

-1.9%

TOTAL

6,576

6,761

-2.7%

 

72,015

74,400

-3.2%

(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

21,667

16,905

28.2%

 

186,287

172,970

7.7%

Italy

1,170

1,231

-5.0%

 

11,896

11,880

0.1%

Brazil

6,130

5,826

5.2%

 

59,963

60,193

-0.4%

Uruguay

3,269

2,792

17.1%

 

29,241

28,459

2.7%

Ecuador

3,131

3,139

-0.3%

 

34,024

30,245

12.5%

Armenia

4,611

2,558

80.3%

 

37,185

30,398

22.3%

TOTAL

39,977

32,451

23.2%

 

358,596

334,145

7.3%

Aircraft Movements

 

 

 

 

 

 

 

Argentina

39,873

34,788

14.6%

 

407,025

418,382

-2.7%

Italy

5,161

4,887

5.6%

 

77,074

73,133

5.4%

Brazil

11,490

12,732

-9.8%

 

131,326

145,151

-9.5%

Uruguay

2,687

2,594

3.6%

 

28,878

28,374

1.8%

Ecuador

6,387

6,165

3.6%

 

69,627

71,983

-3.3%

Armenia

2,984

2,905

2.7%

 

36,446

40,971

-11.0%

TOTAL

68,582

64,071

7.0%

 

750,376

777,994

-3.5%

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 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.

Investor Relations Contact

Patricio Iñaki Esnaola

Email: patricio.esnaola@caairports.com

Phone: +5411 4899-6716

Source: Corporación América Airports

FAQ

What was CAAP's total passenger traffic change in November 2024?

CAAP reported a 2.7% year-over-year decrease in total passenger traffic for November 2024, or -0.2% when excluding Natal airport operations.

How did CAAP's cargo volume perform in November 2024?

Cargo volume increased by 23.2% compared to November 2023, with positive contributions from most countries of operation.

What was the passenger traffic performance in Argentina for CAAP in November 2024?

In Argentina, total passenger traffic declined by 3.3% YoY, with domestic traffic down 7.2% and international traffic up 10.3%.

Why did CAAP's Brazil traffic decrease in November 2024?

Brazil's traffic decreased 8.8% YoY primarily due to the discontinuation of Natal Airport operations. Excluding Natal, traffic actually increased by 4.0% YoY.

How did CAAP's Italian operations perform in November 2024?

CAAP's Italian operations showed strong growth with passenger traffic up 15.3% YoY, including a 10.7% increase in international traffic and 30.6% growth in domestic traffic.

Corporacion America Airports S.A.

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