Corporacion America Airports Performance

Corporación América Airports S.A. Reports 3.7% YoY Increase in Total Passenger Traffic in September 2018

Total passenger traffic in September 2018 increased by 3.7% YoY, primarily reflecting growths of 2.7% in Argentina, 16.6% in Ecuador and 2.9% in Brazil.

Corporacion America Airports

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 3.7% in September 2018.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights                                
Statistics   Sep’18   Sep’17       % Var.   YTD’18       YTD’17       % Var
Domestic Passengers (thousands)   3,885   3,569       8.8%   33,247       30,523       8.9%
International Passengers (thousands)   2,369   2,398       -1.2%   21,083       20,444       3.1%
Transit Passengers (thousands)   720   755       -4.6%   6,640       6,075       9.3%
Total Passengers (thousands)1   6,974   6,722       3.7%   60,970       57,041       6.9%
Cargo Volume (thousand tons)   32.4   31.8       1.7%   291.5       268.8       8.4%
Total Aircraft Movements (thousands)   72.4   72.9       -0.7%   660.0       634.9       4.0%
 

Passenger Traffic Overview

Total passenger traffic in September 2018 increased by 3.7% YoY, primarily reflecting growths of 2.7% in Argentina, 16.6% in Ecuador and 2.9% in Brazil.

In Argentina, passenger traffic increased 2.7% YoY, mainly driven by a 9.4% growth in domestic traffic, which benefitted from the addition of several new frequencies to existing routes over the past 12 months. International and transit traffic declined 8.4% and 7.8% respectively, reflecting more challenging macro conditions. In addition, new airlines have announced they will start operating during the next months: Norwegian airlines plans to open two domestic routes in October and additional routes in the following months, JetSmart expects to initiate operations in November with routes from Santiago de Chile, while LASA Airlines anticipates it will inaugurate domestic and international routes, operating from Neuquén Airport.

In Ecuador, passenger traffic increased 16.6% benefitting from easier comps as last year traffic was impacted by the hurricane that took place in Florida, resulting in the cancelation of several international flights from passengers travelling to the U.S. Moreover, JetBlue announced the launch of a new route with daily flights to Guayaquil airport from Fort Lauderdale, U.S., to start operations in the first quarter of 2019.

In Brazil, domestic passenger traffic increased 8.4% YoY, driven by the addition of new frequencies to existing routes in several domestic destinations, partially offset by a decline in international traffic, mainly due to the currency depreciation. Moreover, Gol Airlines announced the opening of a new route to Cancun, Mexico, to be opened in the second quarter of 2019, in addition to the new route to Buenos Aires announced last month.

In Uruguay, passenger traffic declined 2.1% mainly due to currency depreciation in neighboring countries Brazil and Argentina, which resulted in a decrease in passengers. Furthermore, Air Europa announced the addition of a new route connecting Montevideo and Madrid with Iguazu, Argentina expected to start operations in 2019, with two additional weekly frequencies starting June 2019.

Cargo Volume and Aircraft Movements

Cargo volume increased 1.7% in September 2018. In Argentina, cargo volume declined 9.9% YoY due to macro conditions. In Armenia, cargo volume declined 25.3% due to reduced export activity to countries with political instability. By contrast, cargo volume increased 41.1% YoY in Brazil and 46.7% Ecuador, the latter reflecting higher business activity related to the Christmas Holidays.

Aircraft movements remained relatively flat in September 2018, mainly driven by Armenia, which increased 26.8%, followed by Ecuador, with an increase of 6.2%.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements                      
    Sep’18     Sep’17     % Var. YTD’18     YTD’17     % Var.
Passenger Traffic (thousands)                              
Argentina   3,357     3,267     2.7% 29,621     27,458     7.9%
Italy   842     818     2.9% 6,441     6,255     3.0%
Brazil   1,627     1,582     2.9% 15,096     14,301     5.6%
Uruguay   181     185     -2.2% 1,733     1,715     1.0%
Ecuador   391     336     16.6% 3,331     3,122     6.7%
Armenia   279     258     8.0% 2,152     1,922     11.9%
Peru   296     276     7.3% 2,597     2,268     14.5%
TOTAL   6,974     6,722     3.7% 60,970     57,041     6.9%
                             
Cargo Volume (tons)                              
Argentina   17,584     19,517     -9.9% 169,465     155,382     9.1%
Italy   905     903     0.1% 8,373     7,865     6.5%
Brazil   6,348     4,316     47.1% 47,135     39,466     19.4%
Uruguay   2,178     2,221     -1.9% 19,710     20,068     -1.8%
Ecuador   3,341     2,278     46.7% 30,292     25,287     19.8%
Armenia   1,617     2,165     -25.3% 12,953     17,046     -24.0%
Peru   410     443     -7.5% 3,603     3,703     -2.7%
TOTAL   32,383     31,843     1.7% 291,531     268,817     8.4%
               
Aircraft Movements                              
Argentina   36,098     36,169     -0.2% 334,757     314,061     6.6%
Italy   7,614     7,657     -0.6% 60,663     61,170     -0.8%
Brazil   14,928     16,111     -7.3% 138,304     138,118     0.1%
Uruguay   2,297     2,395     -4.1% 25,168     24,613     2.3%
Ecuador   6,677     6,290     6.2% 58,818     60,092     -2.1%
Armenia   2,138     1,686     26.8% 18,024     16,003     12.6%
Peru   2,613     2,552     2.4% 24,279     20,861     16.4%
TOTAL   72,365     72,860     -0.7% 660,013     634,918     4.0%
 

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”.



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