Sustained recovery in total passenger traffic reaching 87.4% of November 2019 levels reports Corporación América Airports S.A.

Corporación América Airports S.A.  a leading private airport operator in the world, reported today a 34.5% YoY increase in passenger traffic in November 2022, reaching 87.4% of November 2019 levels.

Passenger Traffic Overview

Total passenger traffic grew 34.5% compared to the same month of last year, supported by a continued recovery in travel demand following the lifting of travel restrictions, as reflected by higher load factors and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 87.4% of November 2019 levels, from 88.3% in October, with international and domestic passenger traffic reaching 90.6% and 84.4% of November 2019 levels, respectively.

In Argentina, total passenger traffic continued to recover increasing 67.8% YoY and reaching 91.7% of November 2019 levels, slightly down from the 93.0% posted in October. International passenger traffic reached 81.7% of pre-pandemic levels, in line with the level recorded in October, showing a continued recovery since the full re-opening of borders on November 1, 2021 and the lifting of travel requirements. Domestic passenger traffic reached 96.9% of November 2019 levels, slightly down from the 99.0% posted in October.

In Italy, passenger traffic grew 26.9% YoY reaching 82.7% of November 2019 levels, down from the 87.6% posted in October, with international passenger traffic, which accounted for almost 75% of total traffic, reaching 85.0% of November 2019 levels.

In Brazil, total passenger traffic increased 8.8% YoY, and reached 86.3% of November 2019 levels, up from 84.5% recorded in October. Domestic traffic, which accounted for 57% of total traffic, improved to 80.4% of pre-pandemic levels whereas transit passengers reached 97.8% of November 2019 levels.

Total passenger traffic in Uruguay, where traffic is largely international, increased 44.5% YoY and improved to 87.9% of November 2019 levels, up from the 83.5% posted in October, reflecting a gradual increase in frequencies after the re-opening of borders on November 1, 2021.

In Ecuador, passenger traffic increased 29.1% YoY and reached 96.9% of pre-pandemic levels. International passenger traffic stood at 96.2% of pre-pandemic levels, supported by routes to Europe, as well as the US and Panama, whereas domestic passenger traffic reached 97.2% of November 2019 pre-pandemic levels. To note, November traffic figures compare to 114.3% and 108.4% of 2019 levels in September and October 2022, which benefited from the airport’s closure during three weekends of September 2019 and social unrest experienced in the country in October 2019.

In Armenia, passenger traffic surpassed pre-pandemic levels for the seventh consecutive month, at 141.1% of November 2019 figures, improving from the 121.2% and 125.9% recorded in September and October, respectively. On a YoY basis, passenger traffic increased 59.5%.

Cargo Volume and Aircraft Movements

Cargo volume increased 0.7% YoY and stood at 74.2% of November 2019 levels, or at 75.0% when adjusting for the discontinuation in Peru. Almost 70% of cargo volume originated in Argentina and Brazil, which reported volume declines of 32.8% and 35.7% versus November 2019 pre-pandemic levels. Cargo volumes in Armenia and Italy were above pre-pandemic levels, whereas Argentina and Uruguay stood at 67.2% and 97.1%, respectively.

Aircraft movements increased 19.1% YoY reaching 93.4% of November 2019 levels, or 96.8% when adjusting for the discontinuation of operations in Peru. Around 75% of aircraft movements originated in Argentina and Brazil, which reached 98.0% and 92.3% of November 2019 levels, respectively. Aircraft movements in all countries of operations were above 90% of November 2019 levels, with Armenia and Uruguay exceeding pre-pandemic levels by 41.2% and 5.2%, respectively, except for Italy that stood at 85.1%.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2022 vs. 2021)
Statistics	Nov'22		Nov'21		% Var.		YTD’22		YTD'21			% Var.
Domestic Passengers (thousands)	3,375		2,875		17.4%		34,310		19,524			75.7%
International Passengers (thousands)	1,861		1,018		82.7%		19,358		7,104			172.5%
Transit Passengers (thousands)	672		500		34.2%		5,793		4,379			32.3%
Total Passengers (thousands)	5,907		4,394		34.5%		59,461		31,008			91.8%
Cargo Volume (thousand tons)	29.3		29.1		0.7%		310.6		291.5			6.6%
Total Aircraft Movements (thousands)	64.0		53.7		19.1%		669.4		439.9			52.2%
Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2022 vs. 2019)
Statistics	Nov'22		Nov'19		% Var.		YTD’22		YTD'19(1)(2)			% Var.
Domestic Passengers (thousands)	3,375		3,998		-15.6%		34,310		43,496			-21.1%
International Passengers (thousands)	1,861		2,055		-9.4%		19,358		26,023			-25.6%
Transit Passengers (thousands)	672		709		-5.3%		5,793		7,624			-24.0%
Total Passengers (thousands)	5,907		6,762		-12.6%		59,461		77,143			-22.9%
Cargo Volume (thousand tons)	29.3		39.5		-25.8%		310.6		388.4			-20.0%
Total Aircraft Movements (thousands)	64.0		68.5		-6.6%		669.4		786.4			-14.9%

(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.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2022 vs. 2021)

	Nov'22	Nov'21	% Var.		YTD'22	YTD'21	% Var.
Passenger Traffic (thousands)
Argentina(1)	3,197	1,905	67.8%		30,446	11,143	173.2%
Italy	428	337	26.9%		6,255	2,522	148.0%
Brazil	1,446	1,328	8.8%		14,264	10,792	32.2%
Uruguay	142	98	44.5%		1,287	386	233.6%
Ecuador	361	280	29.1%		3,869	2,226	73.8%
Armenia	333	209	59.5%		3,340	2,179	53.3%
Peru	-	236	-100.0%		-	1,759	-100.0%
TOTAL	5,907	4,394	34.5%		59,461	31,008	91.8%

(1)	See Footnote 1 in previous table. (2) See Footnote 2 in previous table.

Cargo Volume (tons)
Argentina			15,032	16,040	-6.3%			165,470		156,964		5.4%
Italy			1,307	1,466	-10.8%			13,655		13,713		-0.4%
Brazil			4,860	4,652	4.5%			51,371		54,716		-6.1%
Uruguay(2)			2,783	2,762	0.8%			29,553		27,458		7.6%
Ecuador			2,440	2,271	7.5%			30,618		20,785		47.3%
Armenia			2,893	1,613	79.4%			19,944		15,050		32.5%
Peru			-	320	-100.0%			-		2,817		-100.0%
TOTAL			29,315	29,123	0.7%			310,611		291,503		6.6%
Aircraft Movements
Argentina			35,020	26,135	34.0%			347,424		199,380		74.3%
Italy			4,348	4,088	6.4%			64,535		35,896		79.8%
Brazil			12,823	11,938	7.4%			130,903		104,484		25.3%
Uruguay			2,439	2,603	-6.3%			24,444		14,740		65.8%
Ecuador			6,291	5,258	19.6%			70,300		49,815		41.1%
Armenia			3,056	1,890	61.7%			31,811		19,406		63.9%
Peru			-	1,799	-100.0%			-		16,156		-100.0%
TOTAL			63,977	53,711	19.1%			669,417		439,877		52.2%

 

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2022 vs. 2019)

	Nov'22	Nov'19	% Var.		YTD'22	YTD'19	% Var.
Passenger Traffic (thousands)
Argentina(1)	3,197	3,485	-8.3%		30,446	39,791	-23.5%
Italy	428	518	-17.3%		6,255	7,722	-19.0%
Brazil	1,446	1,676	-13.7%		14,264	17,298	-17.5%
Uruguay	142	162	-12.1%		1,287	1,993	-35.4%
Ecuador	361	373	-3.1%		3,869	4,117	-6.0%
Armenia	333	236	41.1%		3,340	2,958	12.9%
Peru	-	312	-100.0%		-	3,263	-100.0%
TOTAL	5,907	6,762	-12.6%		59,461	77,143	-22.9%

(1)	See Footnote 1 in previous table. (2) See Footnote 2 in previous table.

Cargo Volume (tons)
Argentina			15,032	22,370	-32.8%			165,470		208,958		-20.8%
Italy			1,307	1,212	7.9%			13,655		12,035		13.5%
Brazil			4,860	7,559	-35.7%			51,371		83,061		-38.2%
Uruguay(2)			2,783	2,865	-2.9%			29,553		26,550		11.3%
Ecuador			2,440	2,896	-15.7%			30,618		34,963		-12.4%
Armenia			2,893	2,168	33.5%			19,944		18,159		9.8%
Peru			-	438	-100.0%			-		4,655		-100.0%
TOTAL			29,315	39,508	-25.8%			310,611		388,381		-20.0%
Aircraft Movements
Argentina			35,020	35,726	-2.0%			347,424		410,372		-15.3%
Italy			4,348	5,107	-14.9%			64,535		73,936		-12.7%
Brazil			12,823	13,898	-7.7%			130,903		147,234		-11.1%
Uruguay			2,439	2,318	5.2%			24,444		26,526		-7.8%
Ecuador			6,291	6,866	-8.4%			70,300		75,273		-6.6%
Armenia			3,056	2,164	41.2%			31,811		25,186		26.3%
Peru			-	2,450	-100.0%			-		27,901		-100.0%
TOTAL			63,977	68,529	-6.6%			669,417		786,428		-14.9%