Total passenger traffic down 3.8% YoY, or 1.5%
YoY ex-Natal
International passenger traffic up 5.8% YoY
Corporación América Airports S.A. (NYSE: CAAP), (“CAAP”
or the “Company”), one of the leading private airport operators in
the world, reported today a 3.8% year-on-year (YoY) decrease in
passenger traffic in August 2024. Excluding Natal for comparison
purposes, total traffic in August decreased by 1.5% YoY.
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Monthly Passenger Traffic Performance (In
million PAX) (Photo: Business Wire)
Passenger Traffic, Cargo Volume and
Aircraft Movements Highlights (2024 vs. 2023)
Statistics
Aug'24
Aug'23
% Var.
YTD’24
YTD'23
% Var.
Domestic Passengers (thousands)
3,590
4,108
-12.6%
26,589
30,012
-11.4%
International Passengers (thousands)
2,948
2,787
5.8%
20,412
18,661
9.4%
Transit Passengers (thousands)
668
596
12.1%
4,725
4,713
0.3%
Total Passengers (thousands)1
7,205
7,491
-3.8%
51,726
53,385
-3.1%
Cargo Volume (thousand tons)
32.6
31.0
5.1%
245.9
237.7
3.4%
Total Aircraft Movements
(thousands)
72.8
77.0
-5.4%
540.8
568.0
-4.8%
1 Excluding Natal for comparison purposes,
total passenger traffic was down 1.5% in August and 1.0% YTD.
Passenger Traffic
Overview
Total passenger traffic declined by 3.8% in August
compared to the same month in 2023, or 1.5% when adjusting for the
discontinuation of Natal airport. This represents a sequential
improvement compared to the YoY decline of 4.2%, or 1.8% excluding
Natal, reported in July. Domestic passenger traffic decreased by
12.6% YoY, or 8.9% when excluding Natal, primarily due to weaker
YoY performance in Argentina. International traffic increased by
5.8%, mainly driven by growth in Argentina and positive YoY
contributions from all countries except Armenia.
In Argentina, total passenger traffic declined 6.0% YoY,
driven by weaker performance in domestic traffic, which was down by
10.4% YoY, improving from the 11.5% decline posted in July.
Domestic traffic, which last year benefited from incentives
provided by a government program called 'Previaje' to boost
domestic tourism, continued to be impacted by the prevailing
recession in the country. However, certain tourist destinations,
such as Bariloche, Iguazú, and Mendoza, continued to perform well.
International passenger traffic increased by 8.3% YoY. Aerolíneas
Argentinas suspended its EZE-JFK route, while Copa and Avianca
increased the frequency of some of their routes. Passenger traffic
in August was also affected by strikes organized by the
aeronautical union.
In Italy, passenger traffic grew by 6.6% compared to the
same month in 2023. International passenger traffic, which
accounted for over 80% of the total traffic, increased by 7.1% YoY,
with strong performances at both Pisa and Florence airports.
Domestic passenger traffic increased by 4.0% YoY, driven by a 6.2%
increase at Pisa airport which was partially offset by a decline of
1.2% at Florence airport.
In Brazil, total passenger traffic decreased by 8.1% YoY,
or increased by 4.3% YoY when adjusting for the discontinuation of
Natal Airport, up from the 3.3% YoY increase reported in July.
These results reflect an improvement in traffic trends despite the
still challenging aviation context and aircraft constraints in the
country, along with the positive impact of the temporary closure of
Porto Alegre airport. Domestic traffic, which accounted for almost
60% of the total traffic, was down 23.4% YoY, or 7.9% when
excluding Natal, while transit passengers were up 22.0% YoY. As a
reminder, following the friendly termination process concluded in
February 2024, CAAP no longer operates Natal Airport, effective
February 19, 2024. Therefore, statistics for Natal are available up
to February 18, 2024.
In Uruguay, total passenger traffic, predominantly
international, continued its recovery, increasing by a solid 13.4%
YoY. In August, both SKY and LATAM Airlines announced they would
resume their routes, Montevideo–Rio de Janeiro and Punta del
Este–Santiago de Chile, respectively, for the summer season.
In Ecuador, passenger traffic decreased slightly by 0.8%
YoY, showing a sequential improvement from the 5.1% decline
recorded in July. International passenger traffic increased by 4.1%
YoY, while domestic traffic decreased by 5.9% YoY, mainly due to
the exit of the local airline Equair in October 2023 and high
airfare prices.
In Armenia, passenger traffic decreased by 2.1% YoY,
consistent with last month's performance and following a strong
recovery in 2023, which benefited from the introduction of new
airlines and routes, as well as an increase in flight frequencies.
The introduction of new routes has continued into 2024.
Cargo Volume and Aircraft
Movements
Cargo volume increased by 5.1% compared to the same month
in 2023, with positive YoY contributions from Argentina (+3.8%),
Uruguay (+8.4%), Armenia (+32.1%), Ecuador (+3.0%), and Italy
(+8.4%), partially offset by a YoY decline in Brazil (-5.8%).
Argentina, Brazil, and Armenia together accounted for 80% of the
total volume in August.
Aircraft movements decreased by 5.4% YoY, with negative
YoY contributions from Armenia (-10.1%), Brazil (-5.1%), Argentina
(-7.4%) and Ecuador (-1.1%), which were partially offset by
positive YoY variances in Uruguay (+1.5%) and Italy (+1.1%).
Argentina, Brazil, and Italy accounted for more than 80% of total
aircraft movements in August.
Summary Passenger Traffic, Cargo Volume and Aircraft
Movements (2024 vs. 2023)
Aug'24
Aug'23
% Var.
YTD'24
YTD'23
% Var.
Passenger Traffic (thousands)
Argentina
3,584
3,815
-6.0%
27,226
28,325
-3.9%
Italy
1,001
939
6.6%
6,119
5,493
11.4%
Brazil (1)
1,366
1,487
-8.1%
10,166
11,392
-10.8%
Uruguay
179
158
13.4%
1,490
1,253
18.9%
Ecuador
442
445
-0.8%
3,149
3,276
-3.9%
Armenia
634
647
-2.1%
3,577
3,647
-1.9%
TOTAL
7,205
7,491
-3.8%
51,726
53,385
-3.1%
(1)
Following the friendly termination process
concluded in February 2024, CAAP no longer operates Natal airport.
Statistics for Natal are available up to February 18, 2024.
Cargo Volume (tons)
Argentina
16,585
15,973
3.8%
126,182
122,487
3.0%
Italy
815
751
8.4%
8,357
8,624
-3.1%
Brazil
5,537
5,878
-5.8%
41,984
42,987
-2.3%
Uruguay
2,730
2,519
8.4%
20,113
20,930
-3.9%
Ecuador
2,996
2,909
3.0%
25,361
21,740
16.7%
Armenia
3,888
2,944
32.1%
23,912
20,948
14.1%
TOTAL
32,551
30,974
5.1%
245,909
237,716
3.4%
Aircraft Movements
Argentina
38,006
41,025
-7.4%
291,646
304,943
-4.4%
Italy
8,563
8,466
1.1%
55,838
52,487
6.4%
Brazil
12,933
13,630
-5.1%
95,014
106,544
-10.8%
Uruguay
2,297
2,264
1.5%
21,118
20,995
0.6%
Ecuador
6,780
6,852
-1.1%
50,963
53,107
-4.0%
Armenia
4,244
4,721
-10.1%
26,265
29,948
-12.3%
TOTAL
72,823
76,958
-5.4%
540,844
568,024
-4.8%
About Corporación América Airports
Corporación América Airports acquires, develops and operates
airport concessions. Currently, the Company operates 52 airports in
6 countries across Latin America and Europe (Argentina, Brazil,
Uruguay, Ecuador, Armenia and Italy). In 2023, Corporación América
Airports served 81.1 million passengers, 23.7% above the 65.6
million passengers served in 2022 and 3.6% 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/20240919993081/en/
Investor Relations Contact Patricio Iñaki Esnaola Email:
patricio.esnaola@caairports.com Phone: +5411 4899-6716
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