Corporación América Airports S.A. Reports September 2020 Passenger Traffic

Rhea-AI Summary

Corporación América Airports S.A. (NYSE: CAAP) reported an 84.1% decline in total passenger traffic year-over-year for September 2020, reflecting the ongoing impact of the Covid-19 pandemic.

International and domestic passenger traffic fell 88.7% and 85.4%, respectively, with Argentina seeing a staggering 98.9% drop due to air travel bans. Cargo volume decreased 40.9%, and aircraft movements saw a 67.8% decline. Sequentially, September's figures showed slight improvements compared to August's declines, but challenges persist with travel restrictions limiting recovery.

Positive

• Slight sequential improvement in passenger traffic decline from 88.8% in August to 84.1% in September.
• Resumption of international operations at Brasilia Airport in Brazil.

Negative

• Total passenger traffic decreased 84.1% from September 2019.
• International traffic down 88.7% and domestic traffic down 85.4% year-over-year.
• Argentina's total passenger traffic dropped 98.9% due to sustained air travel bans.
• Cargo volume down 40.9% compared to last year.
• Aircraft movements declined 67.8% year-over-year.

LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) the largest private sector airport operator in the world by number of airports, reported today an 84.1% decline year-over-year passenger traffic in September 2020.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights
Statistics		Sep'20		Sep'19(1)(3)			% Var.				YTD'20(1)(2)			YTD'19(1)(2)(3)			% Var.
Domestic Passengers (thousands)		583		3,979			-85.4%				11,436			35,463			-67.8%
International Passengers (thousands)		282		2,490			-88.7%				6,203			21,590			-71.3%
Transit Passengers (thousands)		271		652			-58.4%				2,469			6,198			-60.2%
Total Passengers (thousands)		1,136		7,122			-84.1%				20,108			63,251			-68.2%
Cargo Volume (thousand tons)		18.8		31.9			-40.9%				183.5			310.1			-40.8%
Total Aircraft Movements (thousands)		22.9		71.0			-67.8%				267.1			645.3			-58.6%

⁽¹⁾ Note that preliminary passenger traffic figures for Ezeiza Airport, in Argentina, for 2019 as well as January 2020 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⁾ Preliminary data on 750 flights in August, 873 flights in September, 547 in October, 423 in November, 280 in December 2019, as well as 1,256 in January and 195 in February 2020 at Brasilia Airport, due to delays in the submission of information by third parties. Moreover, starting November 2019 the Company has reclassified its passenger traffic figures for Brasilia Airport between international, domestic and transit retroactively since June 2018 to return to the count methodology utilized until May 2018. Notwithstanding, total traffic figures remain unchanged.

⁽³⁾ 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 in September 2020 dropped 84.1% YoY, reflecting the continued impact of the Covid-19 pandemic on air travel, although showing a slight sequential improvement from the 88.8% and 92.9% declines reported in August and July, respectively. In most of the countries of operations, certain travel restrictions are still in place and passenger demand remains low. International traffic declined by 88.7% YoY, while domestic traffic dropped 85.4% YoY.

In Argentina, total passenger traffic declined 98.9% YoY, reflecting the continuity of air travel bans implemented mid-March by the Government. International passenger traffic declined 97.1%, keeping minimum levels due and special flights, while domestic passenger traffic dropped 99.6% YoY.

In Italy, passenger traffic declined 72.0% YoY, with international and domestic traffic down 78.1% and 45.5% YoY, respectively, in light of new restrictions to air travel in the region.

In Brazil, total passenger traffic dropped 52.6% YoY, showing a continued sequential improvement from the 69.7% drop in August. Domestic passenger traffic declined 52.5% resulting from a steady recovery in passenger demand. Although international operations restarted at Brasilia Airport during the month, international traffic dropped 95.8% YoY, from low demand.

In Uruguay, passenger traffic declined 94.1% YoY. Commercial operations restarted the first week of July, although borders remain close to non-resident foreigners with certain exemptions and travel demand is still low.

In Ecuador, where commercial operations restarted in June with some restrictions, passenger traffic declined 80.1% YoY, improving sequentially from the 88.1% decline in August, due to the progressive lifting of restrictions to air travel.

In Armenia, air travel bans were lifted during the month, while certain restrictions still apply. Total passenger traffic declined 85.7%, showing an improvement from the 92.5% decline in August.

Cargo Volume and Aircraft Movements

Cargo volume decreased 40.9% on September 2020, mainly due to declines of 36.3% in Argentina, 67.0% in Brazil and 62.1% in Ecuador.

Aircraft movements declined 67.8% YoY in September 2020, mainly attributed to decreases of 80.7% in Argentina, 44.8% in Brazil, 49.8% in Italy and 54.4% in Ecuador. Aircraft movements also declined 66.6 % in Uruguay, 75.9% in Armenia and 81.8% in Peru.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements
	Sep'20 (2)		Sep'19 (1)(2)		% Var.		YTD'20(2)			YTD'19(1)(2)			% Var.
Passenger Traffic (thousands)
Argentina	41		3,608		-98.9%		9,062			32,759			-72.3%
Italy	241		862		-72.0%		1,743			6,431			-72.9%
Brazil	703		1,483		-52.6%		6,046			13,947			-56.6%
Uruguay	10		175		-94.1%		558			1,665			-66.5%
Ecuador	65		329		-80.1%		1,167			3,382			-65.5%
Armenia	48		332		-85.7%		677			2,424			-72.1%
Peru	27		332		-91.7%		854			2,642			-67.7%
TOTAL	1,136		7,122		-84.1%		20,108			63,251			-68.2%
(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table.

Cargo Volume (tons)
Argentina	11,416		17,932		-36.3%				102,698			164,377			-37.5%
Italy	1,103		1,072		2.8%				9,503			9,567			-0.7%
Brazil	1,933		5,857		-67.0%				24,608			68,362			-64.0%
Uruguay	1,988		2,167		-8.2%				22,079			20,983			5.2%
Ecuador	878		2,316		-62.1%				11,872			29,360			-59.6%
Armenia	1,462		2,091		-30.1%				11,382			13,697			-16.9%
Peru	68		431		-84.2%				1,362			3,771			-63.9%
TOTAL	18,847		31,866		-40.9%				183,502			310,116			-40.8%
Aircraft Movements
Argentina	7,028		36,327		-80.7%					123,815		338,064			-63.4%
Italy	3,983		7,931		-49.8%					24,803		61,514			-59.7%
Brazil	7,306		13,235		-44.8%					61,780		119,289			-48.2%
Uruguay	686		2,054		-66.6%					10,477		22,125			-52.6%
Ecuador	2,673		5,856		-54.4%					29,071		60,958			-52.3%
Armenia	671		2,788		-75.9%					7,965		20,424			-61.0%
Peru	504		2,772		-81.8%					9,236		22,937			-59.7%
TOTAL	22,851		70,963		-67.8%					267,147		645,311			-58.6%

To obtain the full text of this press release, please click on the following link: http://investors.corporacionamericaairports.com

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.