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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Corporacion America Airports SA | NYSE:CAAP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.44 | 2.52% | 17.90 | 18.14 | 17.45 | 17.45 | 103,681 | 00:24:59 |
Total passenger traffic up 22.1% YoY reaching 96% of pre-pandemic levels
Armenia, Ecuador and Italy above July 2019 levels
Aircraft movements at 98% of July 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 22.1% year-on-year (YoY) increase in passenger traffic in July 2023, reaching 96.3% of July 2019 levels.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230816379160/en/
2-Year Passenger Traffic Monthly Performance (vs. 2019) (Graphic: Business Wire)
Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2022)
Statistics
Jul'23
Jul'22
% Var.
YTD’23
YTD'22
% Var.
Domestic Passengers (thousands)
4,225
3,512
20.3%
25,904
20,788
24.6%
International Passengers (thousands)
2,808
2,198
27.8%
15,873
10,935
45.2%
Transit Passengers (thousands)
635
572
11.0%
4,117
3,136
31.3%
Total Passengers (thousands)
7,668
6,282
22.1%
45,894
34,859
31.7%
Cargo Volume (thousand tons)
30.8
26.0
18.6%
206.7
194.8
6.1%
Total Aircraft Movements (thousands)
76.3
65.7
16.2%
491.1
403.3
21.8%
Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2019)
Statistics
Jul'23
Jul'19
% Var.
YTD’23
YTD'19(1)(2)
% Var.
Domestic Passengers (thousands)
4,225
4,515
-6.4%
25,904
27,219
-4.8%
International Passengers (thousands)
2,808
2,669
5.2%
15,873
16,416
-3.3%
Transit Passengers (thousands)
635
776
-18.2%
4,117
4,902
-16.0%
Total Passengers (thousands)
7,668
7,961
-3.7%
45,894
48,538
-5.4%
Cargo Volume (thousand tons)
30.8
35.1
-12.3%
206.7
245.8
-15.9%
Total Aircraft Movements (thousands)
76.3
77.7
-1.7%
491.1
497.3
-1.2%
(1)
Note that preliminary passenger traffic figures for 2019, as well as January 2020 for Ezeiza Airport, in Argentina, were adjusted to include additional inbound passengers not accounted for in the initial count, for an average of approximately 5% of total passenger traffic at Ezeiza Airport and 1% of total traffic at CAAP, during that period. Importantly, inbound traffic does not affect revenues, as tariffs are applicable on departure passengers.
(2)
Cargo volumes in Uruguay were rectified from January 2019 to June 2020, to reflect all cargo passing through the cargo terminal, instead of air cargo only.
Passenger Traffic Overview
Total passenger traffic grew 22.1% 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 96.3% of July 2019 levels, down from 102.6% posted in June, with international passenger traffic surpassing pre-pandemic levels of July 2019 by 5.2%. Domestic traffic stood at 93.6% of July 2019.
In Argentina, total passenger traffic continued to recover in July, increasing 29.4% YoY and reaching 98.1% of pre-pandemic volumes, down from 105.9% in June. The sequential drop in the comparison against the same month of 2019 is explained by a deceleration in Domestic passenger traffic growth, which in previous months benefited from a government program aimed at boosting domestic tourism. However, Domestic traffic increased month-over-month on an absolute basis and was 2.4% higher than July 2019 levels. International passenger traffic continued to recover and reached 88.3% of pre-pandemic levels, up from the 83.1% recorded in June.
In Italy, passenger traffic grew by 16.4% compared to the same month in 2022 and surpassed pre-pandemic levels for the first time, increasing by 6.2% against July 2019. International passenger traffic, which accounted for 80% of the total traffic, exceeded July 2019 levels by 4.9%, while domestic passenger traffic surpassed pre-pandemic levels by 12.8%. Both Pisa and Florence airports either met or exceeded pre-pandemic traffic volumes in July.
In Brazil, total passenger traffic increased by 3.9% YoY and reached 87.9% of July 2019 pre-pandemic volumes. Domestic traffic, which accounted for nearly two thirds of total traffic, improved month-over-month on an absolute basis, reaching 92.0% of pre-pandemic levels, while transit passengers reached 77.6% of July 2019 levels, down from 95.1% in June. Traffic was affected by financial and aircraft constraints within some of the local airlines.
In Uruguay, total passenger traffic, which is largely international, continued to recover and increased 44.1% YoY, reaching 94.6% of July 2019 levels, up from 85.1% in June.
In Ecuador, passenger traffic increased 15.0% YoY and surpassed pre-pandemic volumes by 10.1%. Both domestic and international passenger traffic exceeded pre-pandemic levels by 14.2% and 6.5%, respectively.
In Armenia, passenger traffic continued its solid recovery trend and increased by 43.7% YoY, surpassing the pre-pandemic levels of July 2019 by 61.5%, down from 82.4% in June. The sequential drop in the comparison against the same month of 2019 is explained by the fact that the months of July and August are seasonally strong, and the Armenia airport is operating at its maximum capacity due to the significant growth it has experienced. This makes the comparison between July 2023 and July 2019 appear less favorable than the comparison between June 2023 and June 2019. In July 2019, the volume increased due to the high seasonality of the month, whereas in July 2023, although the traffic also increased due to the high seasonality, the growth was limited by the current capacity of the airport.
Cargo Volume and Aircraft Movements
Cargo volume increased 18.6% YoY to 87.7% of July 2019 levels, or 88.8% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia and Uruguay were above pre-pandemic levels, whereas Italy stood at 98.1%, Ecuador at 97.8%, Argentina at 86.2% and Brazil at 67.2%. Almost 70% of cargo volume originated in Argentina, Ecuador and Uruguay.
Aircraft movements increased 16.2% YoY to 98.3% of July 2019 levels, or exceeded pre-pandemic levels by 1.9% when adjusting for the discontinuation of operations in Peru. All the countries of operations, except Ecuador and Brazil, exceeded July 2019 pre-pandemic levels.
Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2022)
Jul'23
Jul'22
% Var.
YTD'23
YTD'22
% Var.
Passenger Traffic (thousands)
Argentina(1)
3,979
3,075
29.4%
24,511
17,809
37.6%
Italy
944
811
16.4%
4,553
3,606
26.3%
Brazil
1,533
1,476
3.9%
9,905
8,591
15.3%
Uruguay
166
115
44.1%
1,095
763
43.6%
Ecuador
446
387
15.0%
2,830
2,317
22.2%
Armenia
601
418
43.7%
2,999
1,773
69.1%
TOTAL
7,668
6,282
22.1%
45,894
34,859
31.7%
(1)
See Footnote 1 in previous table. (2) See Footnote 2 in previous table.
Cargo Volume (tons)
Argentina
15,828
14,193
11.5%
106,515
104,513
1.9%
Italy
1,137
1,216
-6.6%
7,872
8,814
-10.7%
Brazil
5,576
3,838
45.3%
37,109
32,020
15.9%
Uruguay(2)
2,461
2,341
5.1%
18,411
19,382
-5.0%
Ecuador
2,897
2,527
14.6%
18,831
20,181
-6.7%
Armenia
2,903
1,845
57.3%
18,005
9,924
81.4%
TOTAL
30,802
25,961
18.6%
206,742
194,834
6.1%
Aircraft Movements
Argentina
40,777
32,768
24.4%
263,918
207,492
27.2%
Italy
8,979
8,218
9.3%
44,021
38,624
14.0%
Brazil
13,260
13,184
0.6%
92,914
80,353
15.6%
Uruguay
2,174
1,711
27.1%
18,731
15,566
20.3%
Ecuador
6,578
5,831
12.8%
46,255
43,949
5.2%
Armenia
4,580
3,973
15.3%
25,227
17,293
45.9%
TOTAL
76,348
65,685
16.2%
491,066
403,277
21.8%
Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2019)
Jul'23
Jul'19
% Var.
YTD'23
YTD'19
% Var.
Passenger Traffic (thousands)
Argentina(1)
3,979
4,055
-1.9%
24,511
25,276
-3.0%
Italy
944
888
6.2%
4,553
4,667
-2.4%
Brazil
1,533
1,744
-12.1%
9,905
10,997
-9.9%
Uruguay
166
175
-5.4%
1,095
1,317
-16.8%
Ecuador
446
405
10.1%
2,830
2,635
7.4%
Armenia
601
372
61.5%
2,999
1,692
77.2%
Peru
322
-
-
1,953
-
TOTAL
7,668
7,961
-3.7%
45,894
48,538
-5.4%
(1)
See Footnote 1 in previous table. (2) See Footnote 2 in previous table.
Cargo Volume (tons)
Argentina
15,828
18,356
-13.8%
106,515
129,199
-17.6%
Italy
1,137
1,159
-1.9%
7,872
7,667
2.7%
Brazil
5,576
8,302
-32.8%
37,109
55,682
-33.4%
Uruguay(2)
2,461
2,373
3.7%
18,411
16,536
11.3%
Ecuador
2,897
2,962
-2.2%
18,831
24,112
-21.9%
Armenia
2,903
1,539
88.7%
18,005
9,833
83.1%
Peru
-
438
-
-
2,799
-
TOTAL
30,802
35,128
-12.3%
206,742
245,827
-15.9%
Aircraft Movements
Argentina
40,777
40,108
1.7%
263,918
262,035
0.7%
Italy
8,979
8,608
4.3%
44,021
45,204
-2.6%
Brazil
13,260
14,309
-7.3%
92,914
92,684
0.2%
Uruguay
2,174
2,136
1.8%
18,731
17,987
4.1%
Ecuador
6,578
6,739
-2.4%
46,255
47,679
-3.0%
Armenia
4,580
3,040
50.7%
25,227
14,415
75.0%
Peru
-
2,736
-
-
17,271
-
TOTAL
76,348
77,676
-1.7%
491,066
497,275
-1.2%
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230816379160/en/
Investor Relations Contact Patricio Iñaki Esnaola Email: patricio.esnaola@caairports.com Phone: +5411 4899-6716
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