Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the
“Company”) the largest private sector airport operator in the world by
number of airports, reported today preliminary year-over-year passenger
traffic growth of 6.9% in May 2018.
Passenger Traffic Overview
Total passenger traffic in May 2018 increased by 6.9% compared to
the same period of 2017, primarily reflecting growth of 6.7% in
Argentina, 6.4% in Brazil, 17.2% in Peru and 11.0% in Ecuador.
Traffic growth in Argentina, Corporación America Airports’ core business
segment reflects ongoing addition of new routes, flights to existing
destinations and the entrance of low cost carriers. During May 2018, Air
Canada inaugurated a new direct route from Ezeiza Airport to Toronto,
Canada. Furthermore, Aerolineas Argentinas added new frequencies to Río
de Janeiro, Salvador de Bahía and Santiago de Chile, while Latam added
frequencies to São Pablo and Santiago de Chile, and Gol added new
frequencies to Florianopolis, São Pablo and Rio de Janeiro.
In addition, low-cost carrier Fly Bondi, flying out of El Palomar
Airport, continued to increase connectivity throughout Argentina by
adding flights to several domestic destinations, contributing to higher
aircraft movements with passenger traffic in that airport increasing 65%
Starting May 3, 2018, 50% of international air traffic in Aeroparque
Airport, other than flights to or from Uruguay, was reassigned to Ezeiza
Airport, and the remaining 50% will be reassigned on April 1st,
2019. These measures are part of the “Administración Nacional De
Aviación Civil” (ANAC) resolution 183/2018 which intends to optimize the
management and infrastructure of the airport, taking into account the
growing domestic aeronautical market and the seasonality of our regional
In Brazil, passenger traffic at Brasilia airport increased by 7.3% YoY.
Growth was hindered by the trucker’s strike that took place in May 2018,
which limited the amount of fuel available, and thus caused flights to
be cancelled or rerouted away from the airport. We estimate that the
losses in passenger traffic amounted to 76,000 passengers (of which
55,500 were transit passengers). If the strike had not taken place, the
Company expects that passenger traffic at Brasilia Airport would have
increased approximately 12.9%, in line with YoY growth reported in April
Robust traffic YoY growth in Peru of 17.2% was driven by new frequencies
and promotions by low cost airlines VIVA Air Peru and LC Peru driving
competition and higher demand, further supported by the overall
improvement in the overall economic framework in the country.
Passenger traffic in Ecuador rose 11.0% YoY benefiting from the increase
in domestic passengers as a result of the start of operations in 2018 of
low cost Spirit Airlines. Favorable comps in international passengers at
Guayaquil Airport reflecting the discontinuation of Iberia´s and TAME
flights since March 2017 also benefited traffic growth.
Cargo Volume and Aircraft Movements
Cargo volume was up 6.8% in May 2018. Growth was primarily
driven by Argentina which posted an 8.7% YoY increase, followed by a
47.8% increase in Ecuador, both as a result of improved economic
Aircraft movements increased by 5.4% in May 2018 mainly driven by
Argentina, up 6.5% during the period, followed by Brazil, with an
increase of 5.8%.
Both cargo volume and aircraft movements were negatively affected by the
trucker’s strike in Brazil.
To obtain the full text of this press release, please click on the
following link: http://investors.corporacionamericaairports.com
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”. For more
information, visit http://investors.corporacionamericaairports.com.
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