Business Wire | Jan 17, 2022 08:01AM EST

Corporacin Amrica Airports S.A. Reports December 2021 Passenger Traffic

Jan. 17, 2022

LUXEMBOURG--(BUSINESS WIRE)--Jan. 17, 2022--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 a 114.2% YoY increase in passenger traffic in December 2021, and a 33.2% decline when compared to the same period of 2019.

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Passenger Traffic Monthly Performance (2021 vs. 2019) (Graphic: Business Wire)

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2021 vs.2020)

Statistics Dec'21 Dec'20 % Var. YTD'21 YTD'20^(1) % Var. (2)(3)

Domestic Passengers 3,008 1,315 128.7% 22,532 14,448 56.0%(thousands)

International Passengers 1,134 384 194.9% 8,238 7,069 16.5%(thousands)

Transit Passengers 544 487 11.5% 4,923 3,702 33.0%(thousands)

Total Passengers 4,686 2,187 114.2% 35,693 25,218 41.5%(thousands)

Cargo Volume (thousand 32.0 25.6 25.1% 323.5 255.6 26.6%tons)

Total Aircraft Movements 57.3 33.2 72.5% 497.2 352.9 40.9%(thousands)



Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2021 vs.2019)

Statistics Dec'21 Dec'19^ % Var. YTD'21 YTD'19^(1) % Var. (1) (3)

Domestic Passengers 3,008 4,093 -26.5% 22,532 47,589 -52.7%(thousands)

International Passengers 1,134 2,193 -48.3% 8,238 28,216 -70.8%(thousands)

Transit Passengers 544 729 -25.4% 4,923 8,353 -41.1%(thousands)

Total Passengers 4,686 7,016 -33.2% 35,693 84,158 -57.6%(thousands)

Cargo Volume (thousand 32.0 36.4 -12.0% 323.5 424.8 -23.8%tons)

Total Aircraft Movements 57.3 71.5 -19.8% 497.2 857.9 -42.0%(thousands)

(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)

Preliminary data on 1,256 flights in January 2020 at Brasilia Airport, due to delays in the submission of information by third parties.

(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 December 2021 grew 1.1x compared to the same period of last year, driven by increases across all countries of operations, particularly in Argentina, reflecting easier comparisons due to tougher travel restrictions in the year ago period and the opening of borders since November 1, 2021. When compared to 2019, overall passenger traffic declined 33.2%, impacted by the COVID-19 pandemic, though consistently improving from the 75.7% decline recorded in April 2021. International and domestic passenger traffic dropped 48.3% and 26.5%, respectively, from pre-pandemic levels of December 2019.

In Argentina, total passenger traffic increased 2.7x YoY. Against December 2019, overall passenger traffic declined 41.0%, with international passenger traffic decreasing 60.5%, showing a sequential recovery driven by the opening of borders on November 1, 2021 and the summer season. This compares with declines of 81.5% and 69.2% in October 2021 and November 2021, respectively, versus 2019. Domestic passenger traffic declined 31.1% compared to 2019, improving sequentially from the declines of 44.4% and 34.3% recorded in October and November, respectively.

In Italy, passenger traffic grew 5.6x YoY and declined 43.0% when compared to December 2019. International passenger traffic experienced a monthly sequential declined, reflecting weaker demand impacted by the Omicron variant. Domestic traffic stood at over 78% of pre-pandemic levels.

In Brazil, total passenger traffic was up 31.2% YoY. Compared to the same month in 2019, overall passenger traffic declined 13.5%, showing a continued strong improvement from the 69.1% drop posted in April 2021, reflecting advanced vaccination roll-out and increased passenger demand. Domestic traffic stood at 94.0% of pre-pandemic levels.

Total passenger traffic in Uruguay increased 3.7x YoY. Against December 2019, passenger traffic was down 45.9%, though still above forecast, showing a slight sequential deceleration when compared to the previous month, when traffic improved strongly after the opening of borders effective November 1, 2021.

In Ecuador, passenger traffic increased almost 1.0x YoY. When compared to the same month of 2019, total traffic in December 2021 declined 24.6% showing a strong improvement since the 64.8% decrease posted last April. International passenger traffic stood at over 85% of pre-pandemic levels, boosted by routes with the US and Panama which are seeing higher passenger traffic than in 2019. Domestic passenger traffic, in turn, declined 34.1% against December 2019.

In Armenia, where the vaccination roll out has improved significantly in the past two to three months, total passenger traffic increased 2.1x YoY. Compared to December 2019, passenger traffic continued with its positive recovery trend reaching almost 93% of pre-pandemic levels.

Cargo Volume and Aircraft Movements

Cargo volume increased 25.1% YoY. When compared to December 2019, total cargo volume dropped 12.0%, mainly driven by decreases of 35.3% in Brazil and 8.2% in Argentina. Importantly, Italy, Armenia and Uruguay reported higher cargo volumes compared to pre-pandemic levels of December 2019.

Aircraft movement increased 72.5% YoY. When compared to December 2019, Aircraft movements declined 19.8%, mainly as a result of a 24.4% decrease in Argentina, which explains 63% of the overall drop. To note, aircraft movement in Uruguay and Brazil stood at 96.6% and 92.2% of December 2019 levels, respectively.

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(1) 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 1,256 flights in January 2020 at Brasilia Airport, due to delays in the submission of information by third parties.

Cargo volumes in Uruguay were rectified from January 2019 to June 2020, to(3) reflect all cargo passing through the cargo terminal, instead of air cargo only.

Passenger Traffic Overview

Total passenger traffic in December 2021 grew 1.1x compared to the same period of last year, driven by increases across all countries of operations, particularly in Argentina, reflecting easier comparisons due to tougher travel restrictions in the year ago period and the opening of borders since November 1, 2021. When compared to 2019, overall passenger traffic declined 33.2%, impacted by the COVID-19 pandemic, though consistently improving from the 75.7% decline recorded in April 2021. International and domestic passenger traffic dropped 48.3% and 26.5%, respectively, from pre-pandemic levels of December 2019.

In Argentina, total passenger traffic increased 2.7x YoY. Against December 2019, overall passenger traffic declined 41.0%, with international passenger traffic decreasing 60.5%, showing a sequential recovery driven by the opening of borders on November 1, 2021 and the summer season. This compares with declines of 81.5% and 69.2% in October 2021 and November 2021, respectively, versus 2019. Domestic passenger traffic declined 31.1% compared to 2019, improving sequentially from the declines of 44.4% and 34.3% recorded in October and November, respectively.

In Italy, passenger traffic grew 5.6x YoY and declined 43.0% when compared to December 2019. International passenger traffic experienced a monthly sequential declined, reflecting weaker demand impacted by the Omicron variant. Domestic traffic stood at over 78% of pre-pandemic levels.

In Brazil, total passenger traffic was up 31.2% YoY. Compared to the same month in 2019, overall passenger traffic declined 13.5%, showing a continued strong improvement from the 69.1% drop posted in April 2021, reflecting advanced vaccination roll-out and increased passenger demand. Domestic traffic stood at 94.0% of pre-pandemic levels.

Total passenger traffic in Uruguay increased 3.7x YoY. Against December 2019, passenger traffic was down 45.9%, though still above forecast, showing a slight sequential deceleration when compared to the previous month, when traffic improved strongly after the opening of borders effective November 1, 2021.

In Ecuador, passenger traffic increased almost 1.0x YoY. When compared to the same month of 2019, total traffic in December 2021 declined 24.6% showing a strong improvement since the 64.8% decrease posted last April. International passenger traffic stood at over 85% of pre-pandemic levels, boosted by routes with the US and Panama which are seeing higher passenger traffic than in 2019. Domestic passenger traffic, in turn, declined 34.1% against December 2019.

In Armenia, where the vaccination roll out has improved significantly in the past two to three months, total passenger traffic increased 2.1x YoY. Compared to December 2019, passenger traffic continued with its positive recovery trend reaching almost 93% of pre-pandemic levels.

Cargo Volume and Aircraft Movements

Cargo volume increased 25.1% YoY. When compared to December 2019, total cargo volume dropped 12.0%, mainly driven by decreases of 35.3% in Brazil and 8.2% in Argentina. Importantly, Italy, Armenia and Uruguay reported higher cargo volumes compared to pre-pandemic levels of December 2019.

Aircraft movement increased 72.5% YoY. When compared to December 2019, Aircraft movements declined 19.8%, mainly as a result of a 24.4% decrease in Argentina, which explains 63% of the overall drop. To note, aircraft movement in Uruguay and Brazil stood at 96.6% and 92.2% of December 2019 levels, respectively.

Summary Passenger Traffic, Cargo Volume and AircraftMovements (2021 vs. 2020)

Dec'21 Dec'20 % Var. YTD'21 YTD'20 % Var.

Passenger Traffic (thousands)

Argentina^(1) 2,132 576 270.3% 13,275 9,960 33.3%

Italy 295 45 560.1% 2,817 1,974 42.7%

Brazil^(2) 1,524 1,161 31.2% 12,316 9,092 35.5%

Uruguay 103 22 371.1% 488 610 -19.9%

Ecuador 287 149 92.4% 2,513 1,549 62.2%

Armenia 221 71 212.8% 2,400 826 190.5%

Peru 125 164 -23.8% 1,884 1,208 56.0%

TOTAL 4,686 2,187 114.2% 35,693 25,218 41.5%

(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table.(3) See Footnote 3 in previous table.

Cargo Volume (tons)Argentina 17,459 13,412 30.2% 174,422 143,948 21.2%

Italy 1,609 1,254 28.3% 15,321 13,256 15.6%

Brazil 5,294 5,016 5.5% 60,010 34,857 72.2%

Uruguay^(3) 2,980 2,186 36.3% 30,438 28,916 5.3%

Ecuador 2,196 2,097 4.8% 22,982 16,842 36.5%

Armenia 2,274 1,241 83.2% 17,324 15,731 10.1%

Peru 194 387 -49.9% 3,011 2,080 44.8%

TOTAL 32,005 25,593 25.1% 323,508 255,628 26.6%

Aircraft Movements

Argentina 27,885 13,682 103.8% 227,265 155,587 46.1%

Italy 3,681 1,197 207.5% 39,577 30,163 31.2%

Brazil 13,410 10,442 28.4% 117,894 89,445 31.8%

Uruguay 3,030 938 223.0% 17,770 13,045 36.2%

Ecuador 6,067 4,715 28.7% 55,882 41,565 34.4%

Armenia 1,906 780 144.4% 21,312 10,183 109.3%

Peru 1,333 1,471 -9.4% 17,489 12,917 35.4%

TOTAL 57,312 33,225 72.5% 497,189 352,905 40.9%

Summary Passenger Traffic, Cargo Volume and AircraftMovements (2021 vs. 2019)

Dec'21 Dec'19 % Var. YTD'21 YTD'19 % Var.

Passenger Traffic (thousands)

Argentina^(1) 2,132 3,614 -41.0% 13,275 43,405 -69.4%

Italy 295 517 -43.0% 2,817 8,239 -65.8%

Brazil^(2) 1,524 1,761 -13.5% 12,316 19,059 -35.4%

Uruguay 103 190 -45.9% 488 2,182 -77.6%

Ecuador 287 380 -24.6% 2,513 4,497 -44.1%

Armenia 221 238 -7.2% 2,400 3,196 -24.9%

Peru 125 316 -60.4% 1,884 3,579 -47.3%

TOTAL 4,686 7,016 -33.2% 35,693 84,158 -57.6%

(1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table.(3) See Footnote 3 in previous table.

Cargo Volume (tons)

Argentina

17,459

19,011

-8.2%

174,422

227,970

-23.5%

Italy

1,609

1,158

39.0%

15,321

13,192

16.1%

Brazil

5,294

8,180

-35.3%

60,010

91,241

-34.2%

Uruguay(3)

2,980

2,582

15.4%

30,438

29,132

4.5%

Ecuador

2,196

3,043

-27.8%

22,982

38,006

-39.5%

Armenia

2,274

1,906

19.3%

17,324

20,065

-13.7%

Peru

194

509

-61.8%

3,011

5,164

-41.7%

TOTAL

32,005

36,388

-12.0%

323,508

424,769

-23.8%

Aircraft Movements

Argentina

27,885

36,875

-24.4%

227,265

447,247

-49.2%

Italy

3,681

5,016

-26.6%

39,577

78,952

-49.9%

Brazil

13,410

14,541

-7.8%

117,894

161,775

-27.1%

Uruguay

3,030

3,136

-3.4%

17,770

29,662

-40.1%

Ecuador

6,067

7,101

-14.6%

55,882

82,374

-32.2%

Armenia

1,906

2,244

-15.1%

21,312

27,430

-22.3%

Peru

1,333

2,572

-48.2%

17,489

30,473

-42.6%

TOTAL

57,312

71,485

-19.8%

497,189

857,913

-42.0%

About Corporacin Amrica Airports

Corporacin Amrica Airports acquires, develops and operates airport concessions. Currently, the Company operates 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2021, Corporacin Amrica Airports served 35.7 million passengers, or 42.4% of the 84.2 million passengers 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/20220117005144/en/

CONTACT: Investor Relations Contact Patricio Iaki Esnaola Email: patricio.esnaola@caairports.com Phone: +5411 4899-6716