Corporacion America Airports S.A. - CAAP STOCK NEWS

Corporación América Airports S.A. (NYSE: CAAP) has filed its annual report on Form 20-F for the year ended December 31, 2020, with the U.S. SEC. The report is available for download from both the SEC and the company's investor relations website. As the largest private sector airport operator globally by the number of airports, CAAP operates 52 airports across 7 countries in Latin America and Europe. In 2019, the company served 84.2 million passengers, underscoring its significant role in the airport sector.

Corporación América Airports S.A. (CAAP) reported significant financial challenges for Q4 and FY 2020 due to COVID-19, with consolidated Q4 revenues declining by 66% YoY to $129.4 million and an operating loss of $163.7 million for the year. Passenger traffic decreased 75.6% in Q4, resulting in 5.1 million passengers, while FY traffic fell by 70% to 25.2 million. The company achieved a comparable Adjusted EBITDA of $78 million despite these declines, aided by government compensations and cost control measures. The 10-year extension of the AA2000 concession is a key milestone for future operations.

Corporación América Airports S.A. (NYSE: CAAP) announced its Fourth Quarter and Full Year 2020 results will be released on Tuesday, March 30, 2021, after market closes. A conference call is scheduled for Wednesday, March 31, 2021, at 9:00 am Eastern Time, featuring executives including CEO Martín Eurnekian and CFO Raúl Francos. The company, operating 52 airports across 7 countries, served 84.2 million passengers in 2019. For more details, visit the investor website.

Corporación América Airports S.A. (NYSE: CAAP) has appointed Mr. Jorge Arruda as Chief Financial Officer, effective May 1, 2021. Arruda has over 20 years of finance experience and has been with CAAP since 2014, contributing to key financial initiatives during the pandemic. He succeeds Mr. Raúl Francos, who has been CFO since 2017 and will assist in a smooth transition. This leadership change aims to strengthen CAAP's management in navigating ongoing challenges in the air travel sector while leveraging long-term growth opportunities across its 52 airport operations in 7 countries.

Corporación América Airports (NYSE: CAAP) reported a 69.1% year-over-year decline in total passenger traffic for February 2021, reflecting the ongoing impact of the COVID-19 pandemic. Domestic passenger traffic fell by 64.2%, while international traffic plummeted 84.5%. Argentina experienced a 74.9% decline, with international traffic down 87.6%. Overall, cargo volume decreased by 25.4% and aircraft movements dropped 53.4%. The continued travel restrictions and weak demand contribute to these drastic reductions.

Corporación América Airports S.A. (CAAP) reported a staggering 64.4% year-over-year decline in total passenger traffic for January 2021, totaling 2,554,000 passengers compared to 7,169,000 in January 2020. Domestic, international, and transit passengers dropped by 58.9%, 84.1%, and 38.5%, respectively. Cargo volume also decreased by 33.7% to 20.4 thousand tons, while total aircraft movements sank 51.2% to 35,000. These figures highlight the significant impact of the ongoing global challenges on the company's operations.

Corporación América Airports S.A. (NYSE: CAAP) announced the publication of ORSNA’s Resolution No. 4/2021, which increases the international passenger fee from US$51 to US$57 for travelers from AA2000 airports, effective January 14, 2021, for flights starting March 15, 2021. Domestic passenger fees and aircraft fees will remain unchanged until the end of 2021. This resolution follows a 10-year concession extension approved in December 2020, aimed at improving airport services across its network of 52 airports in 7 countries.

Corporación América Airports S.A. (NYSE: CAAP) reported a 68.8% year-over-year decline in passenger traffic for December 2020, highlighting ongoing challenges from the COVID-19 pandemic. Total passengers fell to 2,187 thousand, with domestic and international traffic down 67.9% and 82.5%, respectively. Cargo volume decreased 29.7% and total aircraft movements declined 53.5%. The company noted a slight sequential improvement from November's declines, yet restrictions and low demand remain significant hurdles across its operational regions.

Corporación América Airports S.A. (NYSE: CAAP) announced the Argentine Government's approval of Presidential Decree No. 1009/2020, ratifying a Concession Agreement Extension with Aeropuertos Argentina 2000 S.A. The agreement, which includes Technical Conditions and a Financial Projection of Income and Expenses (PFIE), is aimed at ensuring long-term sustainability for AA2000, especially following COVID-19's impact. The PFIE provides financial projections from 2021 to 2038, alongside a new capex program, to maintain economic equilibrium.