Corporacion America Airports Performance

Corporación América Airports S.A. Reports 5.2% YoY Increase in Total Passenger Traffic in December 2018

Passenger traffic up 7.4% YoY in Argentina and 3.0% in Brazil, further supported by growth across most geographies

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 5.2% in December 2018.

       
Passenger Traffic, Cargo Volume and Aircraft Movements Highlights              
Statistics  

Dec’18

 

Dec’17

  % Var. YTD’18   YTD’17   % Var
Domestic Passengers (thousands)   3,919   3,554   10.3 % 44,962   41,306   8.9 %
International Passengers (thousands)   2,108   2,096   0.6 % 27,427   26,899   2.0 %
Transit Passengers (thousands)   778   819   -5.0 % 8,910   8,408   6.0 %
Total Passengers (thousands)   6,805   6,468   5.2 % 81,300   76,612   6.1 %
Cargo Volume (thousand tons)   38.1   39.5   -3.4 % 410.1   389.8   5.2 %
Total Aircraft Movements (thousands)   74.1   71.8   3.1 % 880.6   851.3   3.4 %
   

Passenger Traffic Overview

Total passenger traffic in December 2018 increased by 5.2% YoY, primarily reflecting growth of 7.4% in Argentina, 3.0% in Brazil, and 6.7% in Ecuador.

In Argentina, total passenger traffic increased 7.4% YoY, mainly driven by 15.2% growth in domestic passengers, partially offset by declines of 3.4% and 10.3% in international and transit passengers, respectively, which continues to reflect challenging macro conditions. International traffic in Argentina, however, posted an improvement from prior months as foreign tourism increased, combined with pre-sales of air travel tickets that took place before the peso devaluation along with installment sales offered by some airlines. In addition, American Airlines began operating a direct flight to Los Angeles from Ezeiza Airport, and Gol airlines started a flight to Brasilia Airport. Moreover, FlyBondi launched international routes from El Palomar to Punta del Este, Uruguay, and Asunción, Paraguay, and Chilean low-cost carrier JetSmart started operations with four international routes from Santiago de Chile and La Serena to Córdoba, Mendoza and El Palomar. Furthermore, Norwegian Air Argentina continued to open new domestic routes in the period, with daily frequencies to Bariloche.

In Brazil, passenger traffic increased 3.0% YoY, driven by 7.1% growth in domestic traffic reflecting the addition of new frequencies to existing routes in several destinations at Brasilia Airport and easier comps at Natal Airport as traffic in 3Q17 in Natal was impacted by a reduction in frequencies while the runway was refurbished. International traffic at Brasilia Airport increased 13.9% impacted by the new traffic count methodology applied by ANAC since June 2018, which offset the traffic growth resulting from the continued good performance of daily routes to Miami and Orlando opened by Gol Airlines in November and the addition of a new direct flight to Buenos Aires during December. Based on the prior methodology, international traffic would have increased 42.5% YoY at this airport.

In Ecuador, passengers increased 6.7%, with international passenger traffic at Guayaquil Airport up 9.4%, mainly attributed to the continued good performance of Spirit Airlines. In addition, Laser Airlines started operations with three-weekly flights to Caracas, Venezuela.

In Italy, passenger traffic rose 3.5%, driven by an increase of 7.3% in Pisa Airport mainly related to the addition of frequencies by Ryanair and increased flights by Poveda to Moscow, while Florence Airport posted a decline of 3.3% as a result of adverse weather conditions, which led to several re-routed or cancelled flights.

Cargo Volume and Aircraft Movements

Cargo volume declined 3.4% in December 2018 mainly as a result of a decline of 6.5% in Argentina in relation with macroeconomic conditions, partially offset by the continued recovery in Brazil, with an increase of 16.5% YoY.

Aircraft movements increased 3.1% in December 2018, mainly as a result of an increase of 6.6% in Argentina and 14.0% in Ecuador, partially offset by an 18.1% decline in Peru.

       
Summary Passenger Traffic, Cargo Volume and Aircraft Movements              
   

Dec’18

 

Dec’17

  % Var. YTD’18   YTD’17   % Var.
Passenger Traffic (thousands)                      
Argentina   3,457   3,218   7.4 % 39,818   37,262   6.9 %
Italy   475   459   3.5 % 8,160   7,891   3.4 %
Brazil   1,833   1,779   3.0 % 20,317   19,384   4.8 %
Uruguay   194   199   -2.5 % 2,293   2,291   0.1 %
Ecuador   354   332   6.7 % 4,410   4,128   6.8 %
Armenia   224   207   8.6 % 2,857   2,554   11.9 %
Peru   268   275   -2.5 % 3,445   3,102   11.0 %
TOTAL   6,805   6,468   5.2 % 81,300   76,612   6.1 %
   
Cargo Volume (tons)                      
Argentina   22,486   23,920   -6.0 % 240,372   231,985   3.6 %
Italy   1,086   943   15.2 % 11,760   10,809   8.8 %
Brazil   6,376   5,472   16.5 % 65,915   54,523   20.9 %
Uruguay   2,228   2,523   -11.7 % 27,534   28,232   -2.5 %
Ecuador   4,067   4,391   -7.4 % 41,775   37,072   12.7 %
Armenia   1,461   1,751   -16.5 % 17,856   22,191   -19.5 %
Peru   434   474   -8.5 % 4,866   5,018   -3.0 %
TOTAL   38,139   39,474   -3.4 % 410,078   389,831   5.2 %
 
Aircraft Movements                      
Argentina   39,290   36,852   6.6 % 450,244   425,927   5.7 %
Italy   4,610   4,445   3.7 % 77,335   77,350   0.0 %
Brazil   15,583   16,009   -2.7 % 184,190   185,174   -0.5 %
Uruguay   3,229   3,696   -12.6 % 33,473   33,639   -0.5 %
Ecuador   6,934   6,080   14.0 % 79,575   78,249   1.7 %
Armenia   2,092   1,879   11.3 % 24,136   21,992   9.7 %
Peru   2,335   2,852   -18.1 % 31,626   28,959   9.2 %
TOTAL   74,073   71,813   3.1 % 880,579   851,290   3.4 %
 

 



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