Corporación América Airports S.A. Reports March 2023 Passenger Traffic

Total passenger traffic up 33.6% YoY reaching 92% of pre-pandemic levels;

Armenia and Ecuador above March 2019 levels, while Argentina and Brazil at 93% and 89%, respectively

Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) a leading private airport operator in the world, reported today a 33.6% YoY increase in passenger traffic in March 2023, reaching 91.7% of March 2019 levels.

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2-Year Passenger Traffic Monthly Performance (vs. 2019) (Graphic: Business Wire)

Passenger Traffic Overview

Total passenger traffic grew 33.6% compared to the same month of 2022, supported by an ongoing recovery in travel demand after the Covid-19 pandemic, as reflected by higher load factors and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 91.7% of March 2019 levels, up from the 88.1% posted in February, with international and domestic passenger traffic reaching 92.7% and 92.4% of March 2019 levels, respectively.

In Argentina, total passenger traffic continued to recover increasing 38.9% YoY and reaching 93.0% of March 2019 levels, up from the 91.3% posted in February. International passenger traffic reached 78.8% of pre-pandemic levels, above the 77.8% recorded in February, while domestic passenger traffic surpassed March 2019 pre-pandemic levels by 1.3%.

In Italy, passenger traffic grew 34.6% versus the same month of 2022. When compared to pre-pandemic levels, total traffic stood at 91.8% of March 2019, up from the 89.8% posted in February, with international passenger traffic, which accounted for almost 77% of total traffic, reaching 96.3% of March 2019 levels, up from the 93.0% recorded in February.

In Brazil, total passenger traffic increased 16.1% YoY, and reached 88.8% of March 2019 levels, up from 82.4% recorded in February. Domestic traffic, which accounted for more than 60% of total traffic, stood at 91.8% of pre-pandemic levels whereas transit passengers reached 86.1% of March 2019 levels.

In Uruguay, total passenger traffic, which is largely international, increased 49.0% YoY and reached 86.2% of March 2019 levels, up from the 72.8% posted in February, which was impacted by a weaker-than-expected seasonal tourism, in Punta del Este.

In Ecuador, passenger traffic increased 20.2% YoY and surpassed pre-pandemic levels by 6.4%. Domestic passenger traffic exceeded pre-pandemic levels by 15.9%, whereas international passenger traffic reached 96.6% of March 2019 pre-pandemic levels.

In Armenia, passenger traffic surpassed pre-pandemic levels for the eleventh consecutive month, at 181.9% of March 2019 figures. On a YoY basis, passenger traffic increased 91.2%.

Cargo Volume and Aircraft Movements

Cargo volume increased 9.8% YoY and reached 87.3% of March 2019 levels, or to 88.2% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia, Uruguay and Italy were above pre-pandemic levels, whereas Argentina stood at 87.0%, and Brazil and Ecuador stood at 69.1%. Around 80% of cargo volume originated in Argentina, Ecuador and Brazil.

Aircraft movements increased 23.5% YoY reaching 98.0% of March 2019 levels, or 101.3% when adjusting for the discontinuation of operations in Peru. Around 85% of aircraft movements originated in Argentina, Brazil and Ecuador, which reached 99.5%, 100.2% and 99.8% of March 2019 levels, respectively. Aircraft movements in all countries of operations reached or exceeded March 2019 levels, with Armenia exceeding pre-pandemic levels by 79.1%, except for Italy that stood at 89.8%.

About Corporación América Airports

Corporación América 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 2022, Corporación América Airports served 65.6 million passengers, 83.7% above the 35.7 million passengers served in 2021 and 22.1% 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.

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