Total passenger traffic continued sequential recovery trend reaching 66.8% of December 2019 traffic. Strong improvement in Argentina, following the opening of borders. Brazil at over 85.0% of pre-pandemic levels.

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 a 114.2% YoY increase in passenger traffic in December 2021, and a 33.2% decline when compared to the same period of 2019.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220117005144/en/

Passenger Traffic Monthly Performance (2021 vs. 2019) (Graphic: Business Wire)

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2021 vs. 2020)

Statistics

Dec'21

Dec'20

% Var.

 

YTD’21

YTD'20(1)(2)(3)

% Var.

Domestic Passengers (thousands)

3,008

1,315

128.7%

 

22,532

14,448

56.0%

International Passengers (thousands)

1,134

384

194.9%

 

8,238

7,069

16.5%

Transit Passengers (thousands)

544

487

11.5%

 

4,923

3,702

33.0%

Total Passengers (thousands)

4,686

2,187

114.2%

 

35,693

25,218

41.5%

Cargo Volume (thousand tons)

32.0

25.6

25.1%

 

323.5

255.6

26.6%

Total Aircraft Movements (thousands)

57.3

33.2

72.5%

 

497.2

352.9

40.9%

 

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2021 vs. 2019)

Statistics

Dec'21

Dec'19(1)

% Var.

 

YTD’21

YTD'19(1)(3)

% Var.

Domestic Passengers (thousands)

3,008

4,093

-26.5%

 

22,532

47,589

-52.7%

International Passengers (thousands)

1,134

2,193

-48.3%

 

8,238

28,216

-70.8%

Transit Passengers (thousands)

544

729

-25.4%

 

4,923

8,353

-41.1%

Total Passengers (thousands)

4,686

7,016

-33.2%

 

35,693

84,158

-57.6%

Cargo Volume (thousand tons)

32.0

36.4

-12.0%

 

323.5

424.8

-23.8%

Total Aircraft Movements (thousands)

57.3

71.5

-19.8%

 

497.2

857.9

-42.0%

(1)

Note that preliminary passenger traffic figures for 2019, as well as January 2020 for Ezeiza Airport, in Argentina, were adjusted to include additional inbound passengers not accounted for in the initial count, for an average of approximately 5% of total passenger traffic at Ezeiza Airport and 1% of total traffic at CAAP, during that period. Importantly, inbound traffic does not affect revenues, as tariffs are applicable on departure passengers.

(2)

Preliminary data on 1,256 flights in January 2020 at Brasilia Airport, due to delays in the submission of information by third parties.

(3)

Cargo volumes in Uruguay were rectified from January 2019 to June 2020, to reflect all cargo passing through the cargo terminal, instead of air cargo only.

Passenger Traffic Overview

Total passenger traffic in December 2021 grew 1.1x compared to the same period of last year, driven by increases across all countries of operations, particularly in Argentina, reflecting easier comparisons due to tougher travel restrictions in the year ago period and the opening of borders since November 1, 2021. When compared to 2019, overall passenger traffic declined 33.2%, impacted by the COVID-19 pandemic, though consistently improving from the 75.7% decline recorded in April 2021. International and domestic passenger traffic dropped 48.3% and 26.5%, respectively, from pre-pandemic levels of December 2019.

In Argentina, total passenger traffic increased 2.7x YoY. Against December 2019, overall passenger traffic declined 41.0%, with international passenger traffic decreasing 60.5%, showing a sequential recovery driven by the opening of borders on November 1, 2021 and the summer season. This compares with declines of 81.5% and 69.2% in October 2021 and November 2021, respectively, versus 2019. Domestic passenger traffic declined 31.1% compared to 2019, improving sequentially from the declines of 44.4% and 34.3% recorded in October and November, respectively.

In Italy, passenger traffic grew 5.6x YoY and declined 43.0% when compared to December 2019. International passenger traffic experienced a monthly sequential declined, reflecting weaker demand impacted by the Omicron variant. Domestic traffic stood at over 78% of pre-pandemic levels.

In Brazil, total passenger traffic was up 31.2% YoY. Compared to the same month in 2019, overall passenger traffic declined 13.5%, showing a continued strong improvement from the 69.1% drop posted in April 2021, reflecting advanced vaccination roll-out and increased passenger demand. Domestic traffic stood at 94.0% of pre-pandemic levels.

Total passenger traffic in Uruguay increased 3.7x YoY. Against December 2019, passenger traffic was down 45.9%, though still above forecast, showing a slight sequential deceleration when compared to the previous month, when traffic improved strongly after the opening of borders effective November 1, 2021.

In Ecuador, passenger traffic increased almost 1.0x YoY. When compared to the same month of 2019, total traffic in December 2021 declined 24.6% showing a strong improvement since the 64.8% decrease posted last April. International passenger traffic stood at over 85% of pre-pandemic levels, boosted by routes with the US and Panama which are seeing higher passenger traffic than in 2019. Domestic passenger traffic, in turn, declined 34.1% against December 2019.

In Armenia, where the vaccination roll out has improved significantly in the past two to three months, total passenger traffic increased 2.1x YoY. Compared to December 2019, passenger traffic continued with its positive recovery trend reaching almost 93% of pre-pandemic levels.

Cargo Volume and Aircraft Movements

Cargo volume increased 25.1% YoY. When compared to December 2019, total cargo volume dropped 12.0%, mainly driven by decreases of 35.3% in Brazil and 8.2% in Argentina. Importantly, Italy, Armenia and Uruguay reported higher cargo volumes compared to pre-pandemic levels of December 2019.

Aircraft movement increased 72.5% YoY. When compared to December 2019, Aircraft movements declined 19.8%, mainly as a result of a 24.4% decrease in Argentina, which explains 63% of the overall drop. To note, aircraft movement in Uruguay and Brazil stood at 96.6% and 92.2% of December 2019 levels, respectively.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2021 vs. 2020)

 

Dec'21

Dec'20

% Var.

 

YTD'21

YTD'20

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

2,132

576

270.3%

 

13,275

9,960

33.3%

Italy

295

45

560.1%

 

2,817

1,974

42.7%

Brazil(2)

1,524

1,161

31.2%

 

12,316

9,092

35.5%

Uruguay

103

22

371.1%

 

488

610

-19.9%

Ecuador

287

149

92.4%

 

2,513

1,549

62.2%

Armenia

221

71

212.8%

 

2,400

826

190.5%

Peru

125

164

-23.8%

 

1,884

1,208

56.0%

TOTAL

4,686

2,187

114.2%

 

35,693

25,218

41.5%

(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table. (3) See Footnote 3 in previous table.

Cargo Volume (tons)

Argentina

17,459

13,412

30.2%

 

174,422

143,948

21.2%

Italy

1,609

1,254

28.3%

 

15,321

13,256

15.6%

Brazil

5,294

5,016

5.5%

 

60,010

34,857

72.2%

Uruguay(3)

2,980

2,186

36.3%

 

30,438

28,916

5.3%

Ecuador

2,196

2,097

4.8%

 

22,982

16,842

36.5%

Armenia

2,274

1,241

83.2%

 

17,324

15,731

10.1%

Peru

194

387

-49.9%

 

3,011

2,080

44.8%

TOTAL

32,005

25,593

25.1%

 

323,508

255,628

26.6%

Aircraft Movements

 

 

 

 

 

 

 

Argentina

27,885

13,682

103.8%

 

227,265

155,587

46.1%

Italy

3,681

1,197

207.5%

 

39,577

30,163

31.2%

Brazil

13,410

10,442

28.4%

 

117,894

89,445

31.8%

Uruguay

3,030

938

223.0%

 

17,770

13,045

36.2%

Ecuador

6,067

4,715

28.7%

 

55,882

41,565

34.4%

Armenia

1,906

780

144.4%

 

21,312

10,183

109.3%

Peru

1,333

1,471

-9.4%

 

17,489

12,917

35.4%

TOTAL

57,312

33,225

72.5%

 

497,189

352,905

40.9%

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2021 vs. 2019)

 

Dec'21

Dec'19

% Var.

 

YTD'21

YTD'19

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

 

Argentina(1)

2,132

3,614

-41.0%

 

13,275

43,405

-69.4%

Italy

295

517

-43.0%

 

2,817

8,239

-65.8%

Brazil(2)

1,524

1,761

-13.5%

 

12,316

19,059

-35.4%

Uruguay

103

190

-45.9%

 

488

2,182

-77.6%

Ecuador

287

380

-24.6%

 

2,513

4,497

-44.1%

Armenia

221

238

-7.2%

 

2,400

3,196

-24.9%

Peru

125

316

-60.4%

 

1,884

3,579

-47.3%

TOTAL

4,686

7,016

-33.2%

 

35,693

84,158

-57.6%

(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table. (3) See Footnote 3 in previous table.

Cargo Volume (tons)

Argentina

17,459

19,011

-8.2%

 

174,422

227,970

-23.5%

Italy

1,609

1,158

39.0%

 

15,321

13,192

16.1%

Brazil

5,294

8,180

-35.3%

 

60,010

91,241

-34.2%

Uruguay(3)

2,980

2,582

15.4%

 

30,438

29,132

4.5%

Ecuador

2,196

3,043

-27.8%

 

22,982

38,006

-39.5%

Armenia

2,274

1,906

19.3%

 

17,324

20,065

-13.7%

Peru

194

509

-61.8%

 

3,011

5,164

-41.7%

TOTAL

32,005

36,388

-12.0%

 

323,508

424,769

-23.8%

Aircraft Movements

 

 

 

 

 

 

 

Argentina

27,885

36,875

-24.4%

 

227,265

447,247

-49.2%

Italy

3,681

5,016

-26.6%

 

39,577

78,952

-49.9%

Brazil

13,410

14,541

-7.8%

 

117,894

161,775

-27.1%

Uruguay

3,030

3,136

-3.4%

 

17,770

29,662

-40.1%

Ecuador

6,067

7,101

-14.6%

 

55,882

82,374

-32.2%

Armenia

1,906

2,244

-15.1%

 

21,312

27,430

-22.3%

Peru

1,333

2,572

-48.2%

 

17,489

30,473

-42.6%

TOTAL

57,312

71,485

-19.8%

 

497,189

857,913

-42.0%

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 2021, Corporación América Airports served 35.7 million passengers, or 42.4% of the 84.2 million passengers 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.

Investor Relations Contact Patricio Iñaki Esnaola Email: patricio.esnaola@caairports.com Phone: +5411 4899-6716

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