16/08/2018

Corporación América Airports reports increase in total passenger traffic in july

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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 7.8% in July 2018.

Total passenger traffic in July 2018 increased by 7.8% compared to the same period of 2017, primarily reflecting growth in Armenia, Peru, Brazil and Argentina, with increases of 14.3%, 10.9%, 10.0% and 8.3%, respectively.
 
In Brazil, passenger traffic at Brasilia Airport increased 10.7% in July 2018, driven by additional frequencies in existing routes to several domestic destinations by Gol, Latam and Azul.
 
In Argentina, despite more challenging macro conditions, traffic increased 8.3% YoY, mainly driven by a 17.7% growth in domestic traffic, partially offset by declines of 5% and 16.5% in international and transit passengers, respectively. During the month, new domestic routes were added by Fly Bondi and Avianca. Traffic also benefitted from several new frequencies to existing routes, both domestic and international that were added over the past 12-months.
 
Armenia reported an increase of 14.3%, resulting mainly from a particularly higher load factor during the summer season.
 
Moreover, traffic continued to grow in Peru, although at a lower pace reflecting the ramp up of Viva which began operations in May 2017.
 
CAAP’s airports in Italy reported a 2.3% YoY increase in traffic, mainly due to the opening of new international and domestic flights, and the addition of new frequencies taking place during the Italian summer season. In particular, Pisa airport saw a considerable increase in passengers travelling to Russia, and at Florence Airport the new route to Lisbon, Portugal, opened last June, continued to perform very well.
 
In Uruguay, passenger traffic declined 6.1% 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 was up 1.6% in July 2018. Growth was primarily driven by Brazil which posted an 18.0% YoY increase, followed by an 8.3% increase in Ecuador, both as a result of improved economic conditions. On the contrary, cargo volume declined by 15.4% in Armenia, due to reduced export activity to countries with political instability. In Peru, the decline of 17% reflects unusually higher cargo activity in July 2017, given a road block near Arequipa at that time.
 
Aircraft movements increased by 4.1% in July 2018 mainly driven by Peru and Armenia, which increased 18.9% and 9.5%, followed by Brazil and Argentina, with an increase of 15.2% and 2.2% respectively.