Corporacion America Airports Performance

Corporación América Airports S.A. Reports 4.5% YoY Increase in Total Passenger Traffic in October 2018

Passenger traffic up 5.6% YoY in Argentina and 4.9% in Italy, further supported by growth across most geographies

Corporación América Airports S.A. (NYSE: CAAP) reported last week preliminary year-over-year passenger traffic growth of 4.5% in October 2018.

 
Passenger Traffic, Cargo Volume and Aircraft Movements Highlights  
Statistics   Oct’18   Oct’17   % Var. YTD’18   YTD’17   % Var
Domestic Passengers (thousands)   4,047   3,635   11.3% 37,293   34,157   9.2%
International Passengers (thousands)   2,283   2,353   -3.0% 23,365   22,797   2.5%
Transit Passengers (thousands)   736   774   -4.9% 7,377   6,849   7.7%
Total Passengers (thousands)   7,066   6,762   4.5% 68,035   63,803   6.6%
Cargo Volume (thousand tons)   41.0   42.5   -3.6% 332.5   311.4   6.8%
Total Aircraft Movements (thousands)   76.5   74.8   2.3% 736.5   709.7   3.8%

Passenger Traffic Overview

Total passenger traffic in October 2018 increased by 4.5% YoY, primarily reflecting growth of 5.6% in Argentina, 4.9% in Italy and 14.2% in Armenia.

In Argentina, passenger traffic increased 5.6% YoY, mainly driven by a 16.2% growth in domestic traffic, which benefitted from the addition of several new frequencies to existing routes over the past 12 months. Challenging macro conditions continued to impact International and transit traffic which declined 11.8% and 4.9%, respectively. In addition, Norwegian Air Argentina and LASA started operations during the month. Norwegian opened two routes connecting Buenos Aires with Mendoza and Córdoba, and plans to open additional domestic routes in the coming months. LASA opened several domestic routes, operating from Neuquén Airport. JetSmart expects to initiate operations later in November with routes from Santiago de Chile Importantly, in October El Palomar Airport was designated as an International Airport, and both FlyBondi and JetSmart anticipated they plan to start operating international routes from El Palomar to neighboring countries Uruguay, Paraguay and Chile in the coming months.

In Italy, passenger traffic increased 4.9%, mainly driven from an 8.0% traffic increase % in Pisa Airport, while Florence Airport passenger traffic was relatively flat YoY, mainly as a result of several flight cancellations due to adverse weather conditions. At Pisa Airport, international passengers increased 9.5% in the month, reflecting the continued good performance of routes to Russia, together with an increase in the load factor.

In Brazil, passenger traffic increased 1.3% YoY, driven by a 6.6% growth in domestic traffic reflecting the addition of new frequencies to existing routes in several destinations, partially offset by a decline in international traffic, mainly due to the currency depreciation.

In Uruguay, passenger traffic declined 3.5% 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 declined 3.6% in October 2018 mainly impacted by a 12.7% decline in Argentina, partially offset by cargo volume growth across the majority of countries of operations.. In Armenia, cargo volume increased 9.2%, reverting the negative trend in the previous months.

Aircraft movements remained increased 2.3% in October 2018, mainly driven by Argentina, which increased 4.8%, followed by Ecuador, with an increase of 12.4%.

       
Summary Passenger Traffic, Cargo Volume and Aircraft Movements  
    Oct’18   Oct’17   % Var. YTD’18   YTD’17   % Var.
Passenger Traffic (thousands)                      
Argentina   3,502   3,315   5.6% 33,123   30,773   7.6%
Italy   759   724   4.9% 7,200   6,978   3.2%
Brazil   1,689   1,667   1.3% 16,785   15,968   5.1%
Uruguay   185   191   -3.5% 1,917   1,906   0.6%
Ecuador   366   340   7.8% 3,697   3,462   6.8%
Armenia   265   232   14.2% 2,417   2,154   12.2%
Peru   300   293   2.3% 2,897   2,561   13.1%
TOTAL   7,066   6,762   4.5% 68,035   63,803   6.6%
                       
Cargo Volume (tons)                      
Argentina   25,105   28,747   -12.7% 194,570   184,129   5.7%
Italy   1,168   917   27.3% 9,541   8,782   8.6%
Brazil   6,061   4,493   34.9% 53,196   43,959   21.0%
Uruguay   2,751   2,759   -0.3% 22,461   22,827   -1.6%
Ecuador   3,623   3,484   4.0% 33,915   28,771   17.9%
Armenia   1,890   1,732   9.2% 14,843   18,777   -21.0%
Peru   416   414   0.5% 4,019   4,117   -2.4%
TOTAL   41,014   42,546   -3.6% 332,545   311,363   6.8%
                       
Aircraft Movements                      
Argentina   39,603   37,783   4.8% 374,360   351,844   6.4%
Italy   7,207   7,149   0.8% 67,870   68,319   -0.7%
Brazil   15,382   15,854   -3.0% 153,686   153,972   -0.2%
Uruguay   2,589   2,620   -1.2% 27,757 27,233 1.9%
Ecuador   7,027   6,251   12.4% 65,845 66,343 -0.8%
Armenia   2,115   2,334   -9.4% 20,139 18,337 9.8%
Peru   2,568   2,791   -8.0% 26,847 23,652 13.5%
TOTAL   76,491   74,782   2.3% 736,504 709,700 3.8%
   

About Corporación América Airports

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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