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Corporación América Airports S.A. reports developments for a private airport concession operator listed on the NYSE under the symbol CAAP. The company acquires, develops and operates airport concessions across Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy, with news commonly centered on passenger traffic, domestic and international travel trends, cargo volumes and aircraft movements across its network.
Company updates also cover quarterly and annual financial results, aeronautical and commercial revenue performance, liquidity and leverage, and concession terms for airports operated through subsidiaries. Recurring announcements include annual report filings, earnings-call scheduling and amendments to concession agreements such as those involving Seymour Airport in the Galápagos and international airports in Armenia.
Corporación América Airports S.A. (NYSE: CAAP) reported a significant 109.0% year-over-year increase in passenger traffic for February 2022, reaching 4.175 million passengers. This aligns with 65.0% of pre-pandemic levels from February 2019. Domestic and international traffic surged by 97.3% and 241.7%, respectively. Total cargo volume rose 21.1% YoY, although it still lags behind 24.8% compared to 2019 levels. Aircraft movements increased 58.5% YoY but decreased 26.7% from February 2019. Notably, Argentina showed a recovery trend with 1.6x increases in passenger traffic YoY.
Corporación América Airports S.A. (NYSE: CAAP) announced that its subsidiary, Aeropuertos Argentina 2000, successfully raised $174 million through local dollar-linked notes issuance. This includes $138 million with a 5.5% interest rate and a 5-year grace period, and $36 million at 2% interest, maturing in February 2025. The funds will support infrastructure investments at Group “A” airports in Argentina, enhancing liquidity and demonstrating access to competitive financing sources.
Corporación América Airports S.A. (NYSE: CAAP) reported a 78.6% YoY increase in total passenger traffic for January 2022, totaling 4,561 thousand passengers. However, this figure reflects a 37.0% decline compared to January 2019, primarily due to the impact of the COVID-19 pandemic. Key markets showed varied recovery, with Brazil achieving 82.0% of pre-pandemic traffic and a significant increase in Armenia, surpassing pre-pandemic levels. Cargo volume grew 22.8% YoY, though it dropped 24.0% compared to 2019.
Corporación América Airports S.A. (NYSE: CAAP) announced an expansion at Brasilia Airport with an investment of R$700 million, expected to generate around 3,500 jobs. The project includes a shopping mall, entertainment center with three theme parks, and a logistics center. Construction work starts in 2022, with the first phase already completed in 2020. The new facilities aim to enhance tourism and boost the local economy, promising to integrate well with the region's needs and expectations.
Corporación América Airports S.A. (CAAP) reported a 114.2% year-over-year increase in passenger traffic for December 2021, totaling 4.7 million passengers. However, traffic remains 33.2% below December 2019 levels. Strong recovery noted in Argentina due to reopened borders, with traffic up 2.7x year-over-year. Brazil showed a recovery to over 85% of pre-pandemic levels. Cargo volume increased 25.1% YoY, but decreased 12.0% compared to 2019. Overall, while improvements are evident, challenges remain as traffic is still significantly down from pre-pandemic figures.
Corporación América Airports S.A. (CAAP) reported a 183.1% YoY increase in passenger traffic for November 2021, but a 35.0% decline compared to November 2019 due to the COVID-19 pandemic. Total passengers reached 4.39 million, with domestic and international passengers showing considerable growth. Cargo volume increased by 24.6% YoY but fell 26.3% compared to 2019 levels. Aircraft movements rose by 98.2% YoY but decreased by 21.6% since 2019. Borders reopening since November 1, 2021, significantly impacted traffic recovery, especially in Argentina.
Corporación América Airports S.A. (NYSE: CAAP) reported a significant rebound in traffic for Q3 2021, achieving consolidated revenues of $186.9 million, a 91.5% year-over-year increase, although still 55.2% below pre-pandemic levels. Passenger traffic surged 309.9% YoY to 10.5 million. The company's Adjusted EBITDA stood at $38.9 million, a notable recovery from a $77.3 million loss in Q3 2020. Effective cost controls led to a 43% reduction in cash operating costs compared to Q3 2019, while debt refinancing improved liquidity. Overall, the outlook remains positive with expected traffic growth as restrictions ease.
Corporación América Airports S.A. (NYSE: CAAP) reported significant growth in passenger traffic in October 2021, achieving a 204.0% year-over-year increase and reaching 58.4% of October 2019 levels. Domestic and international passenger traffic rose 227.2% and 318.6% YoY, respectively. However, compared to 2019, overall passenger traffic declined 41.6%, with international passenger traffic down 57.5%. Cargo volume increased 31.5% YoY but decreased 21.4% compared to 2019. Aircraft movements doubled from the previous year but were down 29.7% from pre-pandemic levels.
Corporación América Airports S.A. (NYSE: CAAP) will release its Third Quarter results on Wednesday, November 17, after the market closes. Following the earnings release, a conference call is scheduled for Thursday, November 18, at 9:00 am ET. The company operates 52 airports across 7 countries in Latin America and Europe, having served 84.2 million passengers in 2019. Investors are encouraged to participate via phone or webcast.
Corporación América Airports S.A. (NYSE: CAAP) has announced an Amended Concession Agreement for Carrasco International Airport in Uruguay, extending its concession by 20 years until November 2053. The agreement includes six additional regional airports, expanding CAAP's network to eight in Uruguay. A capital investment program of US$67 million is set for deployment across these new airports by 2028. CEO Martín Eurnekian emphasized the strategic importance of this extension in promoting long-term growth in the region.