Business Wire | Oct 14, 2020 06:12PM EDT

Corporacin Amrica Airports S.A. Reports September 2020 Passenger Traffic

Oct. 14, 2020

LUXEMBOURG--(BUSINESS WIRE)--Oct. 14, 2020--Corporacin Amrica Airports S.A. (NYSE: CAAP), ("CAAP" or the "Company") the largest private sector airport operator in the world by number of airports, reported today an 84.1% decline year-over-year passenger traffic in September 2020.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights

Statistics Sep'20 Sep'19^ % Var. YTD'20^ YTD'19^ % Var. (1)(3) (1)(2) (1)(2)(3)

Domestic Passengers 583 3,979 -85.4% 11,436 35,463 -67.8%(thousands)

International Passengers 282 2,490 -88.7% 6,203 21,590 -71.3%(thousands)

Transit Passengers 271 652 -58.4% 2,469 6,198 -60.2%(thousands)

Total Passengers 1,136 7,122 -84.1% 20,108 63,251 -68.2%(thousands)

Cargo Volume (thousand 18.8 31.9 -40.9% 183.5 310.1 -40.8%tons)

Total Aircraft Movements 22.9 71.0 -67.8% 267.1 645.3 -58.6%(thousands)

(1) Note that preliminary passenger traffic figures for Ezeiza Airport, in Argentina, for 2019 as well as January 2020 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) Preliminary data on 750 flights in August, 873 flights in September, 547 in October, 423 in November, 280 in December 2019, as well as 1,256 in January and 195 in February 2020 at Brasilia Airport, due to delays in the submission of information by third parties. Moreover, starting November 2019 the Company has reclassified its passenger traffic figures for Brasilia Airport between international, domestic and transit retroactively since June 2018 to return to the count methodology utilized until May 2018. Notwithstanding, total traffic figures remain unchanged.

(3) 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 in September 2020 dropped 84.1% YoY, reflecting the continued impact of the Covid-19 pandemic on air travel, although showing a slight sequential improvement from the 88.8% and 92.9% declines reported in August and July, respectively. In most of the countries of operations, certain travel restrictions are still in place and passenger demand remains low. International traffic declined by 88.7% YoY, while domestic traffic dropped 85.4% YoY.

In Argentina, total passenger traffic declined 98.9% YoY, reflecting the continuity of air travel bans implemented mid-March by the Government. International passenger traffic declined 97.1%, keeping minimum levels due and special flights, while domestic passenger traffic dropped 99.6% YoY.

In Italy, passenger traffic declined 72.0% YoY, with international and domestic traffic down 78.1% and 45.5% YoY, respectively, in light of new restrictions to air travel in the region.

In Brazil, total passenger traffic dropped 52.6% YoY, showing a continued sequential improvement from the 69.7% drop in August. Domestic passenger traffic declined 52.5% resulting from a steady recovery in passenger demand. Although international operations restarted at Brasilia Airport during the month, international traffic dropped 95.8% YoY, from low demand.

In Uruguay, passenger traffic declined 94.1% YoY. Commercial operations restarted the first week of July, although borders remain close to non-resident foreigners with certain exemptions and travel demand is still low.

In Ecuador, where commercial operations restarted in June with some restrictions, passenger traffic declined 80.1% YoY, improving sequentially from the 88.1% decline in August, due to the progressive lifting of restrictions to air travel.

In Armenia, air travel bans were lifted during the month, while certain restrictions still apply. Total passenger traffic declined 85.7%, showing an improvement from the 92.5% decline in August.

Cargo Volume and Aircraft Movements

Cargo volume decreased 40.9% on September 2020, mainly due to declines of 36.3% in Argentina, 67.0% in Brazil and 62.1% in Ecuador.

Aircraft movements declined 67.8% YoY in September 2020, mainly attributed to decreases of 80.7% in Argentina, 44.8% in Brazil, 49.8% in Italy and 54.4% in Ecuador. Aircraft movements also declined 66.6 % in Uruguay, 75.9% in Armenia and 81.8% in Peru.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements

Sep'20^ Sep'19^ % Var. YTD'20^ YTD'19^ % Var. (2) (1)(2) (2) (1)(2)

Passenger Traffic (thousands)

Argentina 41 3,608 -98.9% 9,062 32,759 -72.3%

Italy 241 862 -72.0% 1,743 6,431 -72.9%

Brazil 703 1,483 -52.6% 6,046 13,947 -56.6%

Uruguay 10 175 -94.1% 558 1,665 -66.5%

Ecuador 65 329 -80.1% 1,167 3,382 -65.5%

Armenia 48 332 -85.7% 677 2,424 -72.1%

Peru 27 332 -91.7% 854 2,642 -67.7%

TOTAL 1,136 7,122 -84.1% 20,108 63,251 -68.2%

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

Cargo Volume (tons)

Argentina

11,416

17,932

-36.3%

102,698

164,377

-37.5%

Italy

1,103

1,072

2.8%

9,503

9,567

-0.7%

Brazil

1,933

5,857

-67.0%

24,608

68,362

-64.0%

Uruguay

1,988

2,167

-8.2%

22,079

20,983

5.2%

Ecuador

878

2,316

-62.1%

11,872

29,360

-59.6%

Armenia

1,462

2,091

-30.1%

11,382

13,697

-16.9%

Peru

68

431

-84.2%

1,362

3,771

-63.9%

TOTAL

18,847

31,866

-40.9%

183,502

310,116

-40.8%

Aircraft Movements

Argentina

7,028

36,327

-80.7%

123,815

338,064

-63.4%

Italy

3,983

7,931

-49.8%

24,803

61,514

-59.7%

Brazil

7,306

13,235

-44.8%

61,780

119,289

-48.2%

Uruguay

686

2,054

-66.6%

10,477

22,125

-52.6%

Ecuador

2,673

5,856

-54.4%

29,071

60,958

-52.3%

Armenia

671

2,788

-75.9%

7,965

20,424

-61.0%

Peru

504

2,772

-81.8%

9,236

22,937

-59.7%

TOTAL

22,851

70,963

-67.8%

267,147

645,311

-58.6%

To obtain the full text of this press release, please click on the following link: http://investors.corporacionamericaairports.com

About Corporacin Amrica Airports

Corporacin Amrica Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 7 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Peru, Ecuador, Armenia and Italy). In 2019, Corporacin Amrica Airports served 84.2 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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CONTACT: Investor Relations Contact Gimena Albanesi Email: gimena.albanesi@caairports.com Phone: +5411 4852-6411