Total passenger traffic up 14.5% YoY, reaching pre-pandemic levels

All countries except Brazil and Italy above November 2019 levels

Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today a 14.5% year-on-year (YoY) increase in passenger traffic in November 2023, in line with November 2019 levels.

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

Passenger Traffic Overview

Total passenger traffic grew 14.5% compared to the same month of 2022, supported by the ongoing recovery in travel demand after the Covid-19 pandemic and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached November 2019 levels, with all countries except Brazil and Italy above pre-pandemic. International passenger traffic surpassed pre-pandemic levels of November 2019 by 7.5%, while domestic traffic stood at 98.2% of November 2019 levels.

In Argentina, total passenger traffic continued to recover in November, increasing by 22.7% year-over-year (YoY) and surpassing pre-pandemic volumes by 12.6%. Domestic traffic was 17.9% higher than the levels in November 2019, while International traffic continued to recover and surpassed pre-pandemic levels for the first time, by 1.8%.

In Italy, passenger traffic grew by 12.2% compared to the same month in 2022, reaching 92.7% of November 2019 levels, down from the 106.4% recorded in October. International passenger traffic, which accounted for almost 80% of the total traffic, was 1.3% below November 2019 levels, while domestic passenger traffic was 22.9% below pre-pandemic levels. Although total traffic is still below pre-pandemic levels, Florence airport exceeded November 2019 traffic volumes. Traffic in Italy during November was affected by a strike carried out by unionized airport workers on November 24^th.

In Brazil, total passenger traffic decreased by 1.2% YoY, reaching 85.2% of November 2019 levels, slightly up from the 84.5% recorded in October. Domestic traffic, which accounted for over 60% of the total traffic, reached 85.3% of pre-pandemic levels, while transit passengers stood at 85.4% of November 2019 levels, an increase from the 79.9% recorded in October. Traffic in Brazil remained impacted by financial and aircraft constraints in some local airlines.

In Uruguay, total passenger traffic, which is largely international, continued to recover and increased 18.8% YoY, surpassing pre-pandemic levels for the second consecutive month, at 104.4% of November 2019 levels.

In Ecuador, passenger traffic increased 8.1% YoY and surpassed pre-pandemic volumes by 4.7%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 2.0% and 7.3%, respectively.

In Armenia, passenger traffic continued its solid recovery trend, increasing by 10.9% YoY and surpassing the pre-pandemic levels of November 2019 by 56.5%.

Cargo Volume and Aircraft Movements

Cargo volume increased 10.7% YoY and reached 82.1% of November 2019 levels, or 83.1% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia, Ecuador and Italy were above pre-pandemic levels, whereas Uruguay stood at 97.5%, Brazil at 77.1%, and Argentina at 75.6%. Around 70% of cargo volume originated in Argentina, Ecuador and Uruguay.

Aircraft movements remained largely stable YoY, reaching 93.5% of November 2019 levels, or 97.0% when adjusting for the discontinuation of operations in Peru. Aircraft movements were above pre-pandemic levels in Armenia and Uruguay, while it stood at 97.4% in Argentina, 95.7% in Italy, 91.6% in Brazil, and 89.8% in Ecuador.

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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