Total passenger traffic up 30.5% YoY reaching 87.2% of December 2019 levels;

Armenia above pre-pandemic levels while Ecuador and Argentina at 95% and 92%, respectively

Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) a leading private airport operator in the world, reported today a 30.5% YoY increase in passenger traffic in December 2022, reaching 87.2% of December 2019 levels.

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

Passenger Traffic Overview

Total passenger traffic grew 30.5% compared to the same month of 2021, supported by an ongoing recovery in travel demand following the lifting of travel restrictions, as reflected by higher load factors and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 87.2% of December 2019 levels, in line with the 87.4% posted in November, with international and domestic passenger traffic reaching 90.1% and 85.0% of December 2019 levels, respectively.

In Argentina, total passenger traffic continued to recover increasing 56.0% YoY and reaching 92.1% of December 2019 levels, up from the 91.7% posted in November. International passenger traffic reached 82.7% of pre-pandemic levels, improving from the 81.7% recorded in November, showing a continued recovery. Domestic passenger traffic reached 97.2% of December 2019 levels, up from the 96.9% posted in November.

In Italy, passenger traffic grew 49.7% YoY reaching 85.4% of December 2019 levels, up from the 82.7% posted in November, with international passenger traffic, which accounted for almost 75% of total traffic, reaching 86.0% of December 2019 levels.

In Brazil, total passenger traffic decreased 2.5% YoY, and reached 84.3% of December 2019 levels, down from 86.3% recorded in November. Domestic traffic, which accounted for 60% of total traffic, improved to 81.1% of pre-pandemic levels whereas transit passengers reached 92.7% of December 2019 levels. Traffic in Brazil was impacted by lower public officials-related traffic, due to the change in Brazilian Administration, and higher airfare impacting travel demand.

In Uruguay, total passenger traffic, which is largely international, increased 46.0% YoY and reached 79.0% of December 2019 levels, down from the 87.9% posted in November.

In Ecuador, passenger traffic increased 25.4% YoY to 94.5% of pre-pandemic levels. International passenger traffic stood at 92.2% of pre-pandemic levels, supported by routes to Europe, as well as the US and Panama, whereas domestic passenger traffic reached 97.2% of December 2019 pre-pandemic levels.

In Armenia, passenger traffic surpassed pre-pandemic levels for the eighth consecutive month, at 147.7% of December 2019 figures, improving from the 125.9% and 141.1% recorded in October and November, respectively. On a YoY basis, passenger traffic increased 59.2%.

Cargo Volume and Aircraft Movements

Cargo volume increased 1.6% YoY to 89.4% of December 2019 levels, or to 90.6% when adjusting for the discontinuation in Peru. Cargo volumes in Armenia and Italy were above pre-pandemic levels, whereas Ecuador and Uruguay stood at 86.8% and 99.2%, respectively. Almost 70% of cargo volume originated in Argentina and Brazil, which reported volume declines of 14.8% and 20.9% versus December 2019 pre-pandemic levels.

Aircraft movements increased 20.0% YoY reaching 96.2% of December 2019 levels, or 99.8% when adjusting for the discontinuation of operations in Peru. Around 75% of aircraft movements originated in Argentina and Brazil, which reached 101.2% and 94.3% of December 2019 levels, respectively. Aircraft movements in all countries of operations were above 90% of December 2019 levels, with Armenia, Uruguay and Argentina exceeding pre-pandemic levels by 48.9%, 9.3%, and 1.2%, respectively, except for Italy that stood at 86.9%.

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 2022, Corporación América Airports served 65.6 million passengers, 83.7% above the 35.7 million passengers served in 2021 and 22.1% 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.

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