Corporación América Airports S.A. Reports 6.9% YoY Increase in Total Passenger Traffic in May 2018

Traffic growth across all countries of operations, with passengers in Argentine operations up 6.7%

Corporación América Airports S.A. CAAP, ("CAAP" or the "Company") the largest private sector airport operator in the world by number of airports, reported today preliminary year-over-year passenger traffic growth of 6.9% in May 2018.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights
Statistics		May'18		May'17		% Var			YTD'18		YTD'17		% Var
Domestic Passengers (thousands)		3,506		3,231		8.5%			17,541		16,402		6.9%
International Passengers (thousands)		2,305		2,217		4.0%			11,378		10,700		6.3%
Transit Passengers (thousands)		629		579		8.7%			3,640		3,095		17.6%
Total Passengers (thousands)		6,440		6,027		6.9%			32,558		30,196		7.8%
Cargo Volume (thousand tons)		32.1		30.1		6.8%			166.1		145.9		13.9%
Total Aircraft Movements (thousands)		73.3		69.5		5.4%			357.5		341.4		4.7%

Passenger Traffic Overview

Total passenger traffic in May 2018 increased by 6.9% compared to the same period of 2017, primarily reflecting growth of 6.7% in Argentina, 6.4% in Brazil, 17.2% in Peru and 11.0% in Ecuador.

Traffic growth in Argentina, Corporación America Airports' core business segment reflects ongoing addition of new routes, flights to existing destinations and the entrance of low cost carriers. During May 2018, Air Canada inaugurated a new direct route from Ezeiza Airport to Toronto, Canada. Furthermore, Aerolineas Argentinas added new frequencies to Río de Janeiro, Salvador de Bahía and Santiago de Chile, while Latam added frequencies to São Pablo and Santiago de Chile, and Gol added new frequencies to Florianopolis, São Pablo and Rio de Janeiro.

In addition, low-cost carrier Fly Bondi, flying out of El Palomar Airport, continued to increase connectivity throughout Argentina by adding flights to several domestic destinations, contributing to higher aircraft movements with passenger traffic in that airport increasing 65% sequentially.

Starting May 3, 2018, 50% of international air traffic in Aeroparque Airport, other than flights to or from Uruguay, was reassigned to Ezeiza Airport, and the remaining 50% will be reassigned on April 1^st, 2019. These measures are part of the "Administración Nacional De Aviación Civil" (ANAC) resolution 183/2018 which intends to optimize the management and infrastructure of the airport, taking into account the growing domestic aeronautical market and the seasonality of our regional operations.

In Brazil, passenger traffic at Brasilia airport increased by 7.3% YoY. Growth was hindered by the trucker's strike that took place in May 2018, which limited the amount of fuel available, and thus caused flights to be cancelled or rerouted away from the airport. We estimate that the losses in passenger traffic amounted to 76,000 passengers (of which 55,500 were transit passengers). If the strike had not taken place, the Company expects that passenger traffic at Brasilia Airport would have increased approximately 12.9%, in line with YoY growth reported in April 2018.

Robust traffic YoY growth in Peru of 17.2% was driven by new frequencies and promotions by low cost airlines VIVA Air Peru and LC Peru driving competition and higher demand, further supported by the overall improvement in the overall economic framework in the country.

Passenger traffic in Ecuador rose 11.0% YoY benefiting from the increase in domestic passengers as a result of the start of operations in 2018 of low cost Spirit Airlines. Favorable comps in international passengers at Guayaquil Airport reflecting the discontinuation of Iberia´s and TAME flights since March 2017 also benefited traffic growth.

Cargo Volume and Aircraft Movements

Cargo volume was up 6.8% in May 2018. Growth was primarily driven by Argentina which posted an 8.7% YoY increase, followed by a 47.8% increase in Ecuador, both as a result of improved economic conditions.

Aircraft movements increased by 5.4% in May 2018 mainly driven by Argentina, up 6.5% during the period, followed by Brazil, with an increase of 5.8%.

Both cargo volume and aircraft movements were negatively affected by the trucker's strike in Brazil.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements
			May'18		May'17		% Var.				YTD'18		YTD'17		% Var.
Passenger Traffic (thousands)
Argentina			2,992		2,805		6.7%				16,348		14,827		10.3%
Italy			783		755		3.7%				2,901		2,832		2.4%
Brazil			1,616		1,518		6.4%				8,180		7,811		4.7%
Uruguay			174		165		5.9%				1,040		989		5.2%
Ecuador			363		327		11.0%				1,773		1,709		3.8%
Armenia			217		206		5.3%				954		872		9.4%
Peru			295		252		17.2%				1,361		1,157		17.6%
TOTAL			6,440		6,027		6.9%				32,558		30,196		7.8%
Cargo Volume (tons)
Argentina			18,954		17,433		8.7%				100,909		82,941		21.7%
Italy			1,003		946		6.1%				4,498		4,465		0.7%
Brazil			4,670		4,722		-1.1%				24,049		21,458		12.1%
Uruguay			2,172		2,075		4.7%				11,325		11,246		0.7%
Ecuador			3,571		2,416		47.8%				17,039		14,597		16.7%
Armenia			1,332		2,050		-35.0%				6,359		9,272		-31.4%
Peru			408		429		-5.0%				1,956		1,928		1.5%
TOTAL			32,109		30,071		6.8%				166,136		145,907		13.9%
Aircraft Movements
Argentina			35,872		33,667		6.5%				184,771		170,820		8.2%
Italy			7,467		7,671		-2.7%				27,942		28,578		-2.2%
Brazil			16,099		15,214		5.8%				75,967		74,832		1.5%
Uruguay			2,336		2,321		0.6%				15,899		15,256		4.2%
Ecuador			6,749		6,494		3.9%				31,378		33,300		-5.8%
Armenia			2,015		1,819		10.8%				8,906		7,992		11.4%
Peru			2,722		2,323		17.2%				12,663		10,670		18.7%
TOTAL			73,260		69,509		5.4%				357,526		341,448		4.7%

To obtain the full text of this press release, please click on the following link: http://investors.corporacionamericaairports.com

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. The Company is the largest private airport operator in the world by the number of airports and the tenth largest based on passenger traffic. Currently, the Company operates 52 airports in 7 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Peru, Ecuador, Armenia and Italy). In 2017, Corporación América Airports served 76.6 million passengers. 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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