Corporación América Airports S.A. (NYSE: CAAP), the largest private sector airport operator in the world by number of airports, reported today preliminary year-over-year passenger traffic growth of 5.8% in August 2018.
|Passenger Traffic, Cargo Volume and Aircraft Movements Highlights|
|Statistics||Ago’18||Ago’17||% Var.||YTD’18||YTD’17||% Var|
|Domestic Passengers (thousands)||4,103||3,687||11.3%||29,362||26,953||8.9%|
|International Passengers (thousands)||2,526||2,521||0.2%||18,714||18,046||3.7%|
|Transit Passengers (thousands)||766||779||-1.6%||5,920||5,320||11.3%|
|Total Passengers (thousands)||7,395||6,987||5.8%||53,996||50,319||7.3%|
|Cargo Volume (thousand tons)||31.2||31.1||0.3%||259.1||237.0||9.4%|
|Total Aircraft Movements (thousands)||79.9||76.8||4.1%||587.6||562.1||4.6%|
Passenger Traffic Overview
Total passenger traffic in August 2018 increased by 5.8% YoY, primarily reflecting growths of 6.6% in Argentina, 18.5% in Armenia, 4.3% in Italy and 2.3% in Brazil.
In Argentina, passenger traffic increased 6.6% YoY, mainly driven by a 15.1% growth in domestic traffic, partially offset by declines of 7.1% and 10.9% in international and transit passengers, respectively, reflecting more challenging macro conditions. Domestic traffic benefited from the incorporation of several new frequencies to existing routes, both domestic and international, that were added over the past 12 months. Several new airlines have announced they will start operating during the next months: Norwegian airlines plans to open seven domestic routes, Chilean low-cost company JetSmart expects to open international routes from Santiago de Chile and La Serena to three provinces in Argentina and LASA Airlines anticipates it will inaugurate domestic and international routes, operating from Neuquén Airport.
In Armenia, passenger traffic at Zvartnots Airport increased during this month mainly due to the increase in international passengers coming from the US during summer season. This increase was partially offset by a decrease in passengers coming from Russia and other European destinations. In Shirak Airport, passenger traffic benefited from the opening of new routes to new destinations in Russia.
In Italy, passenger traffic increased 4.3% YoY. Pisa Airport continued to reflect a considerable increase in passengers travelling to Russia, and at Florence Airport, the new route to Lisbon, Portugal, opened last June, continued to perform very well.
In Brazil, passenger traffic at Brasilia Airport increased 3.1% YoY, driven by the addition of new frequencies to existing routes in several domestic destinations by Gol, Latam and Azul. Moreover, Gol announced the opening of a new international route, that is expected to open in December, with six weekly flights between Brasilia, Brazil and Buenos Aires, Argentina.
In Uruguay, passenger traffic declined 6.0% mainly due to currency depreciation in neighboring countries Brazil and Argentina, which resulted in a decrease in passengers.
Cargo Volume and Aircraft Movements
Cargo volume remained relatively flat in August 2018. Brazil posted a 19.0% YoY increase, followed by an 11.0% increase in Ecuador. On the contrary, cargo volume declined by 9.3% in Armenia, due to reduced export activity to countries with political instability. In Argentina, cargo volume declined 4.9% YoY due to macro conditions.
Aircraft movements increased by 4.1% in August 2018 mainly driven by Peru and Armenia, which increased 19.3% and 10.9%, respectively, followed by Argentina, with an increase of 6.7%.
|Summary Passenger Traffic, Cargo Volume and Aircraft Movements|
|Ago’18||Ago’17||% Var.||YTD’18||YTD’17||% Var.|
|Passenger Traffic (thousands)|
|Cargo Volume (tons)|
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”.
Logos, product and company names mentioned are the property of their respective owners.