Total passenger traffic up 14.5% YoY and 1.2% above pre-pandemic levels

All countries except Brazil above October 2019 levels

Aircraft movements 1.9% above October 2019

Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today a 14.5% year-on-year (YoY) increase in passenger traffic in October 2023, surpassing October 2019 levels by 1.2%.

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2-Year Passenger Traffic Monthly Performance (vs. 2019) (Graphic: Business Wire)

Passenger Traffic Overview

Total passenger traffic grew 14.5% compared to the same month of 2022, supported by the ongoing recovery in travel demand after the Covid-19 pandemic and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 101.2% of October 2019 levels, up from the 98.9% posted in September, with all countries except Brazil above pre-pandemic. International passenger traffic surpassed pre-pandemic levels of October 2019 by 8.8%, while domestic traffic also improved versus the prior month slightly exceeding October 2019 levels.

In Argentina, total passenger traffic continued to recover in October, increasing by 18.7% year-over-year (YoY) and surpassing pre-pandemic volumes by 10.4%. Domestic traffic was 18.3% higher than the levels in October 2019 and benefited from a government program to boost domestic tourism. International passenger traffic also continued to recover, reaching 96.0% of pre-pandemic levels, up from the 90.7% recorded in September.

In Italy, passenger traffic grew by 21.6% compared to the same month in 2022 and surpassed pre-pandemic levels for the fourth consecutive month, increasing by 6.4% compared to October 2019, up from the 1.6% recorded in September. International passenger traffic, which accounted for 80% of the total traffic, was 7.9% above October 2019 levels, while domestic passenger traffic surpassed pre-pandemic levels by 1.3%. Although domestic traffic is still below pre-pandemic levels at Pisa airport, both airports exceeded October 2019 overall traffic volumes.

In Brazil, total passenger traffic increased slightly by 0.1% YoY, reaching 84.5% of October 2019 levels, down from the 92.9% recorded in September. Domestic traffic, which accounted for almost two-thirds of the total traffic, reached 86.5% of pre-pandemic levels, while transit passengers stood at 79.9% of October 2019 levels, a decrease from the 87.5% recorded in September. Traffic in Brazil remained impacted by financial and aircraft constraints in some local airlines.

In Uruguay, total passenger traffic, which is largely international, continued to recover and increased 28.6% YoY, surpassing pre-pandemic levels for the first time, at 107.4% of October 2019 levels, up from 94.5% recorded in September.

In Ecuador, passenger traffic increased 0.5% YoY and surpassed pre-pandemic volumes by 9.0%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 11.5% and 5.5%, respectively.

In Armenia, passenger traffic continued its solid recovery trend, increasing by 29.1% YoY and surpassing the pre-pandemic levels of October 2019 by 62.5%.

Cargo Volume and Aircraft Movements

Cargo volume increased 7.9% YoY and reached 85.3% of October 2019 levels, or 86.3% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia and Ecuador were above pre-pandemic levels, whereas Italy stood at 93.1%, Argentina at 78.8%, Uruguay at 86.0%, and Brazil at 83.1%. Almost 70% of cargo volume originated in Argentina, Ecuador and Uruguay.

Aircraft movements increased 9.4% YoY and surpassed October 2019 levels by 1.9%, or 5.6% when adjusting for the discontinuation of operations in Peru. All the countries of operations, except Ecuador and Brazil, exceeded October 2019 pre-pandemic levels.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2022)

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2019)

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 2022, Corporación América Airports served 65.6 million passengers, 83.7% above the 35.7 million passengers served in 2021 and 22.1% below the 84.2 million 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.

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