Corporacion Am Stock Price, News & Analysis

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.

Corporación América Airports S.A. (CAAP) reported a 77.1% decline in total passenger traffic for November 2020, reflecting the ongoing impact of the Covid-19 pandemic. The year-to-date figures show a 70.1% drop in total passengers compared to 2019. International traffic plummeted 88.3% YoY, while domestic traffic decreased by 77.8%. In Argentina, passenger traffic decreased 93.0%, although there was a slight improvement from October's figures. Cargo volumes also fell by 40.9%, and aircraft movements dropped 60.5% YoY, indicating severe operational challenges.

Corporación América Airports S.A. (NYSE: CAAP) announced a ten-year extension of the AA2000 concession agreement, which will run from 2028 to 2038. This agreement, signed in Argentina, includes approximately $500 million in capital expenditures for expansion projects aimed at enhancing airport infrastructure. The AA2000 network accounted for nearly 50% of CAAP's total passenger traffic in 2019. The investment will support ongoing growth and improve passenger experience. The extension is pending a Presidential Decree.

Corporación América Airports (CAAP) announced the termination of the concession for the International Airport of São Gonçalo do Amarante (Natal Airport) via its subsidiary ICASGA. This decision, initiated on March 5, was due to the financial challenges arising from passenger traffic declines linked to Brazil's economic situation. The company will receive an indemnification based on non-amortized capital expenditures. ICASGA will continue operations during the transition while the Brazilian Ministry of Infrastructure conducts feasibility studies for a new operator.

Corporación América Airports (CAAP) reported a significant decline in financial performance for Q3 2020, with consolidated revenues of $97.6 million, a 76.6% drop YoY, primarily due to COVID-19 impacts. Passenger traffic fell by 88.7% to 2.6 million, while aeronautical revenues decreased by 87.1%. The operating loss was $123 million compared to a gain of $61.8 million in Q3 2019. Despite these challenges, the company noted improvements in passenger traffic and cash operating costs, achieving a 48% reduction. Liquidity was enhanced via a $40 million local bond issuance and an €85 million loan in Italy.

Corporación América Airports S.A. (NYSE: CAAP) reported an 80.8% decline in total passenger traffic for October 2020, reflecting the ongoing impact of the Covid-19 pandemic. Domestic and international traffic fell 80.0% and 89.8% respectively. Argentina witnessed the steepest drop, with total passenger numbers down 97.8%. Cargo volume also decreased by 40.2%, indicating a significant downturn in operational metrics across all countries of operation. Despite a slight sequential improvement noted from previous months, the overall figures highlight the challenges facing the aviation sector.

Corporación América Airports S.A. (NYSE: CAAP), the largest private airport operator by number of airports managed, will release its Third Quarter results on November 18, after market closes. A conference call is scheduled for November 19 at 9:00 am ET, featuring executives including CEO Martín Eurnekian and CFO Raúl Francos. The company currently operates 52 airports across 7 countries and served 84.2 million passengers in 2019. For more details, visit their investor relations page.

Corporación América Airports S.A. (NYSE: CAAP) reported an 84.1% decline in total passenger traffic year-over-year for September 2020, reflecting the ongoing impact of the Covid-19 pandemic.

International and domestic passenger traffic fell 88.7% and 85.4%, respectively, with Argentina seeing a staggering 98.9% drop due to air travel bans. Cargo volume decreased 40.9%, and aircraft movements saw a 67.8% decline. Sequentially, September's figures showed slight improvements compared to August's declines, but challenges persist with travel restrictions limiting recovery.