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

Rhea-AI Summary

Corporación América Airports S.A. (NYSE: CAAP) reported a 63.5% year-over-year increase in passenger traffic for September 2022, reaching 85.4% of pre-pandemic levels. Domestic and international traffic surged, particularly in Argentina, which saw a 139.3% YoY increase. Cargo volumes also rose by 4.7% YoY, totaling 29.0 thousand tons, though still below 2019 levels. Aircraft movements increased by 36.5% YoY, reflecting strong recovery trends across its operations in Latin America and Europe. Key metrics indicate a solid rebound in travel demand as restrictions eased.

Positive

• 63.5% YoY increase in passenger traffic, reaching 85.4% of September 2019 levels.
• Argentina reported a remarkable 139.3% increase in total passenger traffic YoY.
• Cargo volume increased 4.7% YoY, showing continued growth.
• Aircraft movements up 36.5% YoY, indicating recovery in operations.

Negative

• Total passenger traffic down 14.6% compared to September 2019 levels.
• Cargo volume decreased 9.1% compared to September 2019 levels.
• Some countries, like Argentina and Brazil, reported significant declines from pre-pandemic traffic.

Total passenger traffic continued to recover reaching 85.4% of September 2019 levels

Armenia and Ecuador above pre-pandemic levels; Brazil and Argentina at 93% and 85%, respectively

Cargo volume and aircraft movements above 90% of pre-pandemic figures

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 63.5% YoY increase in passenger traffic in September 2022, reaching 85.4% of September 2019 levels.

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

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2022 vs. 2021)
Statistics		Sep'22		Sep'21		% Var.				YTD’22		YTD'21			% Var.
Domestic Passengers (thousands)		3,226		2,333		38.3%				27,465		14,005			96.1%
International Passengers (thousands)		2,180		928		134.8%				15,347		5,076			202.4%
Transit Passengers (thousands)		680		462		47.3%				4,445		3,366			32.1%
Total Passengers (thousands)		6,085		3,723		63.5%				47,257		22,447			110.5%
Cargo Volume (thousand tons)		29.0		27.7		4.7%				250.6		231.9			8.1%
Total Aircraft Movements (thousands)		65.2		47.8		36.5%				537.8		335.1			60.5%
Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2022 vs. 2019)
Statistics		Sep'22		Sep'19		% Var.				YTD’22		YTD'19(1)(2)			% Var.
Domestic Passengers (thousands)		3,226		3,979		-18.9%				27,465		35,463			-22.6%
International Passengers (thousands)		2,180		2,490		-12.5%				15,347		21,590			-28.9%
Transit Passengers (thousands)		680		652		4.3%				4,445		6,198			-28.3%
Total Passengers (thousands)		6,085		7,122		-14.6%				47,257		63,251			-25.3%
Cargo Volume (thousand tons)		29.0		31.9		-9.1%				250.6		310.1			-19.2%
Total Aircraft Movements (thousands)		65.2		71.0		-8.1%				537.8		645.3			-16.7%

(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 63.5% compared to the same month of last year, driven by increases across all countries of operations, particularly in Argentina, supported by a continued recovery in travel demand following the gradual lifting of travel restrictions across all countries of operations. Overall passenger traffic recovered to 85.4% of September 2019 levels, from 83.2% in August, with international and domestic passenger traffic reaching 87.5% and 81.1% of September 2019 levels, respectively.

In Argentina, total passenger traffic continued to recover increasing 139.3% YoY and reaching 84.8% of September 2019 levels, up from the 79.5% posted in August. International passenger traffic improved to 78.6% of pre-pandemic levels, compared with 69.6% in August, showing a continued recovery since the full re-opening of borders on November 1, 2021 and the lifting of travel requirements. Domestic passenger traffic increased sequentially reaching 87.8% of September 2019 levels, up from the 83.0% posted in August.

In Italy, passenger traffic grew 64.1% YoY reaching 85.9% of September 2019 levels, down from the 89.2% posted in August, when passenger traffic benefited from the summer season. Effective June 1, 2022, all travel restrictions and Covid-related entry regulations were fully lifted.

In Brazil, total passenger traffic increased 15.9% YoY, and reached 93.0% of September 2019 levels, down from 97.7% recorded in August. Domestic traffic, which accounted for 55% of total traffic, stood at 83.9% of pre-pandemic levels whereas transit passengers exceeded September 2019 levels by 9.9%.

Total passenger traffic in Uruguay, where traffic is largely international, increased 147.2% YoY and reached 72.0% of September 2019 levels, up from the 67.6% posted in August.

In Ecuador, passenger traffic surpassed pre-pandemic levels for the second consecutive month, at 114.3% of September 2019 figures, and increased 43.1% YoY. International passenger traffic improved to 112.9% of pre-pandemic levels, supported by routes to Europe, as well as the US and Panama, whereas domestic passenger traffic exceeded September 2019 pre-pandemic levels by 15.0%.

In Armenia, where traffic is entirely international, passenger traffic surpassed pre-pandemic levels for the fifth consecutive month, at 121.2% of September 2019 figures, improving from the 112.4% and 114.1% recorded in July and August, respectively. On a YoY basis, passenger traffic increased 43.2%.

Cargo Volume and Aircraft Movements

Cargo volume increased 4.7% YoY and stood at 90.9% of September 2019 levels, or at 92.2% when adjusting for the discontinuation in Peru. Over 70% of cargo volume originated in Argentina and Brazil, which reported volume declines of 16.0% and 3.5% versus September 2019 pre-pandemic levels. Cargo volumes in Uruguay, Armenia, Ecuador and Italy were above pre-pandemic levels, whereas Argentina and Brazil stood at 84.0% and 96.5%, respectively.

Aircraft movements increased 36.5% YoY reaching 91.9% of September 2019 levels, or at 95.6% when adjusting for the discontinuation of operations in Peru. Around 70% of aircraft movements originated in Argentina and Brazil, which reached 92.0% and 93.2% of September 2019 levels, respectively. Aircraft movements in all countries of operations were above 92% of September 2019 levels, with Armenia and Ecuador exceeding pre-pandemic levels by 32.9% and 9.7%, respectively.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2022 vs. 2021)

			Sep'22		Sep'21		% Var.				YTD'22		YTD'21		% Var.
Passenger Traffic (thousands)
Argentina(1)			3,060		1,279		139.3%				23,949		7,684		211.7%
Italy			741		451		64.1%				5,151		1,730		197.8%
Brazil			1,380		1,191		15.9%				11,403		8,138		40.1%
Uruguay			126		51		147.2%				1,006		228		340.7%
Ecuador			376		263		43.1%				3,116		1,663		87.3%
Armenia			403		281		43.2%				2,632		1,705		54.4%
Peru			-		207		-100.0%				-		1,299		-100.0%
TOTAL			6,085		3,723		63.5%				47,257		22,447		110.5%
(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table.
Cargo Volume (tons)
Argentina			15,056		15,370		-2.0%				134,716		123,700		8.9%
Italy			1,299		1,376		-5.6%				11,091		10,941		1.4%
Brazil			5,651		5,182		9.1%				41,231		45,136		-8.7%
Uruguay(2)			2,248		2,303		-2.4%				24,198		22,059		9.7%
Ecuador			2,532		1,848		37.0%				25,227		16,237		55.4%
Armenia			2,186		1,300		68.2%				14,181		11,661		21.6%
Peru			-		306		-100.0%				-		2,178		-100.0%
TOTAL			28,972		27,684		4.7%				250,644		231,912		8.1%
Aircraft Movements
Argentina			33,419		19,990		67.2%				276,659		150,324		84.0%
Italy			7,300		5,727		27.5%				53,492		26,378		102.8%
Brazil			12,333		11,404		8.1%				105,440		80,930		30.3%
Uruguay			2,014		1,389		45.0%				19,539		10,407		87.7%
Ecuador			6,424		5,272		21.9%				57,545		39,120		47.1%
Armenia			3,705		2,347		57.9%				25,121		15,394		63.2%
Peru			-		1,642		-100.0%				-		12,584		-100.0%
TOTAL			65,195		47,771		36.5%				537,796		335,137		60.5%

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2022 vs. 2019)

			Sep'22		Sep'19		% Var.				YTD'22		YTD'19		% Var.
Passenger Traffic (thousands)
Argentina(1)			3,060		3,608		-15.2%				23,949		32,759		-26.9%
Italy			741		862		-14.1%				5,151		6,431		-19.9%
Brazil			1,380		1,483		-7.0%				11,403		13,947		-18.2%
Uruguay			126		175		-28.0%				1,006		1,665		-39.6%
Ecuador			376		329		14.3%				3,116		3,382		-7.9%
Armenia			403		332		21.2%				2,632		2,424		8.6%
Peru			-		332		-100.0%				-		2,642		-100.0%
TOTAL			6,085		7,122		-14.6%				47,257		63,251		-25.3%
(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table.
Cargo Volume (tons)
Argentina			15,056		17,932		-16.0%				134,716		164,377		-18.0%
Italy			1,299		1,072		21.1%				11,091		9,567		15.9%
Brazil			5,651		5,857		-3.5%				41,231		68,362		-39.7%
Uruguay(2)			2,248		2,167		3.8%				24,198		20,983		15.3%
Ecuador			2,532		2,316		9.3%				25,227		29,360		-14.1%
Armenia			2,186		2,091		4.5%				14,181		13,697		3.5%
Peru			-		431		-100.0%				-		3,771		-100.0%
TOTAL			28,972		31,866		-9.1%				250,644		310,116		-19.2%
Aircraft Movements
Argentina			33,419		36,327		-8.0%				276,659		338,064		-18.2%
Italy			7,300		7,931		-8.0%				53,492		61,514		-13.0%
Brazil			12,333		13,235		-6.8%				105,440		119,289		-11.6%
Uruguay			2,014		2,054		-1.9%				19,539		22,125		-11.7%
Ecuador			6,424		5,856		9.7%				57,545		60,958		-5.6%
Armenia			3,705		2,788		32.9%				25,121		20,424		23.0%
Peru			-		2,772		-100.0%				-		22,937		-100.0%
TOTAL			65,195		70,963		-8.1%				537,796		645,311		-16.7%

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 2021, Corporación América Airports served 35.7 million passengers, or 42.4% of the 84.2 million passengers 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/20221017005847/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 September 2022?

Corporación América Airports reported a 63.5% year-over-year increase in passenger traffic for September 2022.

How does CAAP's September 2022 passenger traffic compare to 2019?

In September 2022, total passenger traffic reached 85.4% of September 2019 levels.

What percentage of cargo volume did CAAP achieve in September 2022?

CAAP's cargo volume in September 2022 was at 90.9% of September 2019 levels.

Which country showed the highest growth in passenger traffic for CAAP?

Argentina showed the highest growth in passenger traffic with a 139.3% increase year-over-year.

How did aircraft movements perform for CAAP in September 2022?

Aircraft movements increased by 36.5% year-over-year in September 2022.