Market Overview

Corporación América Airports S.A. Reports 1.6% YoY Increase in Total Passenger Traffic in August 2019

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Passenger traffic up 9.0% YoY in Argentina and 15.0% in Armenia, partially offset by declines in Brazil and Italy

Corporación América Airports S.A. (NYSE: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 1.6% in August 2019.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights

Statistics

Aug'19(1)

Aug'18

% Var.

YTD'19

YTD'18

% Var.

Domestic Passengers (thousands)

4,257

4,106

3.7%

31,422

29,235

7.5%

International Passengers (thousands)

2,632

2,524

4.3%

18,619

18,709

-0.5%

Transit Passengers (thousands)

649

789

-17.8%

5,630

5,987

-6.0%

Total Passengers (thousands)

7,538

7,419

1.6%

55,671

53,931

3.2%

Cargo Volume (thousand tons)

32.1

31.2

3.0%

276.4

259.1

6.6%

Total Aircraft Movements (thousands)

77.1

79.9

-3.6%

574.3

587.6

-2.3%

(1)      Preliminary data on 750 flights at Brasilia Airport, due to delays in the submission of information by third parties

Passenger Traffic Overview

Total passenger traffic in August 2019 increased 1.6% YoY primarily reflecting growth of 9.0% in Argentina and 15.0% in Armenia, partially offset by declines in Brazil and Italy.

In Argentina, total passenger traffic increased 9.0% YoY, driven by growth of 11.0% in domestic passengers as a result of the continued good performance of new routes by existing and new airlines introduced during 2018 and 2019, together with a mix-shift to domestic from international travel by local passengers, further supported by an increase of 3.6% in international passenger traffic, signaling a slight recovery from the recent downward trend. In addition, Air Europa started a new flight connecting Iguazú Airport with Madrid, Spain, via Asunción, Paraguay. Moreover, Norwegian Air Argentina announced a new domestic route to Ushuaia, starting in September, further enhancing connectivity in the country while low-cost carrier Flybondi announced a new international route to Rio de Janeiro, Brasil, with three weekly flights, starting in October.

In Italy, passenger traffic declined 1.7% YoY, reflecting a drop of 3.4% in passenger traffic at Pisa Airport, mainly due to the reduction of operations by Ryanair due to adjustments in operational schedules. The suspension of Pobeda's route to Saint Petersburg and lower frequencies to Moscow also contributed to lower traffic at Pisa Airport. This was partially offset by growth of 2.4% at Florence Airport, reflecting additional flights to Paris, France, by Air France and, to a lesser extent, additional flights to Madrid, Spain, by Iberia.

In Brazil, estimated figures are disclosed given delays in the submission of information for 750 flights out of a total of 6,823 flights, due to information systems transition by third parties. Passenger traffic declined 14.5%, primarily reflecting the cessation of operations by a Avianca Brasil. Domestic passengers declined 9.9% while international passengers increased 28.3% according to the new methodology introduced by ANAC. In addition, Gol announced additional domestic flights from Natal Airport to Rio de Janeiro, São Paulo, and Brasilia, starting in December, while Latam Airlines Brasil announced additional flights from Natal to São Paulo beginning November. Moreover, Azul Airlines announced additional frequencies to Viracopos, Campinas, in December.

In Armenia, total passenger traffic increased 15.0%, benefiting from the addition of several new routes and frequencies during 2018 and 2019, and also reflecting the increase in flights from Russia to Armenia, given Russia's ban on flights to and from Georgia.

In Ecuador, total passenger traffic increased 0.2%, with international passenger traffic increasing 5.6%, mainly reflecting new flights by Jet Blue and Aeroméxico started earlier this year. However, Aeroméxico recently announced that it will discontinue this route starting October 2019. Traffic growth was also driven by the new route by Plus Ultra to Madrid, Spain, opened during July 2019. In addition, during August low-cost carrier Wingo Airlines started a new flight to Bogotá, Colombia operating from Guayaquil Airport. Moreover, Iberia announced a new route to Madrid, Spain, starting in December.

Cargo Volume and Aircraft Movements

Cargo volume increased 3.0% in August 2019, mainly as a result increases of 25.4% in Brazil and 19.1% in Italy, partially offset by declines of 7.4% and 13.0% in Ecuador and Armenia, respectively.

Aircraft movements decreased 3.6% in August 2019, mainly as a result of declines of 15.4% in Brazil and 2.0% in Argentina.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements

 

Aug'19

Aug'18

% Var.

YTD'19

YTD'18

% Var

Passenger Traffic (thousands)

 

 

 

 

 

 

Argentina

3,821

3,507

9.0%

28,693

26,263

9.2%

Italy

902

917

-1.7%

5,569

5,599

-0.5%

Brazil (1)

1,467

1,717

-14.5%

12,464

13,403

-7.0%

Uruguay

173

171

1.0%

1,490

1,552

-4.0%

Ecuador

418

417

0.2%

3,053

2,939

3.9%

Armenia

400

347

15.0%

2,092

1,873

11.7%

Peru

358

344

4.1%

2,311

2,301

0.4%

TOTAL

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