Monthly Passenger Traffic Performance (In million PAX)

Total passenger traffic up 10.5% YoY, up 15.0% YoY in Argentina

International passenger traffic up 12.7% YoY; up 21.8% YoY in Argentina

LUXEMBOURG, April 14, 2025--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), ("CAAP" or the "Company"), one of the leading private airport operators in the world, reported today a 10.5% year-on-year (YoY) increase in passenger traffic in March 2025.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2025 vs. 2024)  Statistics Mar'25 Mar'24 % Var.  YTD’25 YTD'24 % Var.  Domestic Passengers (thousands) 3,775 3,401 11.0%  10,639 10,230 4.0%  International Passengers (thousands) 2,675 2,373 12.7%  7,835 6,956 12.6%  Transit Passengers (thousands) 601 609 -1.3%  1,894 1,798 5.3%  Total Passengers (thousands)1 7,051 6,383 10.5%  20,368 18,984 7.3%  Cargo Volume (thousand tons) 34.3 31.3 9.6%  95.9 87.9 9.1%  Total Aircraft Movements (thousands) 71.5 67.4 6.0%  206.3 200.1 3.1%  1 Following the friendly termination process concluded in February 2024, CAAP no longer operates Natal airport. Statistics for Natal are available up to February 18, 2024. Excluding Natal for comparison purposes, total passenger traffic YTD was up 9.4%.

Passenger Traffic Overview

Total passenger traffic increased by 10.5% in March compared to the same month in 2024. Domestic passenger traffic rose by 11.0% year-over-year, largely driven by a recovery in Argentina, as well as strong performances in Italy and Brazil. Meanwhile, international traffic grew by 12.7%, with all operating countries contributing positively year-over-year, except Armenia. Notably, Argentina accounted for 81% of the total traffic growth in March.

In Argentina, total passenger traffic increased by 15.0% YoY, primarily driven by the ongoing recovery in domestic traffic, which rose by 12.2% YoY — marking four consecutive months of positive growth. Notably, YoY comparisons for domestic traffic are no longer influenced by the ‘Previaje’ incentive program, which was suspended in December 2023 following the swearing-in of the new government. JetSMART, which recently added three Airbus A321neo aircraft, continued to gain market share, carrying 90% more passengers than in March 2024, while Flybondi carried 16% more passengers over the same period. International passenger traffic also remained strong, increasing by a solid 21.8% YoY. Aerolíneas Argentinas resumed operations to Porto Alegre and announced it will maintain the Córdoba–Rio de Janeiro route year-round. Additionally, Avianca began operating flights to Buenos Aires using Wamos Air A330-300s, as part of its strategy to strengthen service on high-demand routes.

Story Continues

In Italy, passenger traffic grew by 11.3% compared to the same month in 2024, mainly supported by an increase in flight frequencies by Ryanair. International passenger traffic — which accounted for over 75% of total traffic — rose by 8.0% YoY, driven by a 13.8% increase at Florence Airport and a 3.4% increase at Pisa Airport. Domestic passenger traffic saw a robust 22.9% YoY increase, with strong performances at both Pisa and Florence airports.

In Brazil, total passenger traffic increased by 4.6% YoY, reflecting an improvement in traffic trends despite the still challenging aviation environment and aircraft constraints in the country. Domestic traffic, which accounted for nearly 60% of total traffic, rose by 7.8% YoY, while transit passengers declined by 4.2% YoY.

In Uruguay, total passenger traffic — predominantly international — rose slightly by 0.5% YoY, following a strong performance in 2024. In March, Azul Linhas Aéreas announced a new direct route between Montevideo and Campinas, with five weekly flights. This new connection will help strengthen ties between Uruguay and Brazil, facilitating passenger flow and promoting the development of new commercial and tourism opportunities.

In Ecuador, where security concerns persist, passenger traffic increased by 1.1% YoY. International traffic rose by 1.6% YoY, while domestic traffic edged up by 0.7% YoY, impacted by high airfare prices that have dampened travel demand.

In Armenia, passenger traffic increased by 0.6% YoY, following a strong post-COVID recovery. Travel demand in Armenia has benefited from the introduction of new airlines and routes, as well as increased flight frequencies.

Cargo Volume and Aircraft Movements

Cargo volume increased by 9.6% compared to the same month in 2024, mainly driven by strong performances in Argentina and Uruguay. Performance by country was the following: Argentina (+20.3%), Uruguay (+24.3%), Italy (+5.4%), Armenia (-6.3%), Brazil (-3.9%), and Ecuador (-5.2%). Argentina, Brazil, and Armenia accounted for almost 80% of the total cargo volume in March.

Aircraft movements increased by 6.0% YoY, with positive YoY contributions from all countries of operations: Argentina (+7.5%), Uruguay (+5.3%), Italy (+7.0%), Armenia (+2.3%), Brazil (+4.9%), and Ecuador (+0.4%). Argentina, Brazil, and Ecuador accounted for more than 80% of total aircraft movements in March.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2025 vs. 2024)

Mar'25 Mar'24 % Var.  YTD'25 YTD'24 % Var. Passenger Traffic (thousands)  Argentina 4,152 3,612 15.0%  12,168 10,812 12.5% Italy 640 575 11.3%  1,630 1,477 10.4% Brazil (1) 1,272 1,215 4.6%  3,726 3,905 -4.6% Uruguay 203 202 0.5%  654 639 2.4% Ecuador 417 412 1.1%  1,134 1,110 2.2% Armenia 368 366 0.6%  1,055 1,043 1.2% TOTAL 7,051 6,383 10.5%  20,368 18,984 7.3%

(1) Following the friendly termination process concluded in February 2024, CAAP no longer operates Natal airport. Statistics for Natal are available up to February 18, 2024.

Cargo Volume (tons)  Argentina 17,558 14,591 20.3%  50,047 44,234 13.1% Italy 1,136 1,078 5.4%  3,224 3,115 3.5% Brazil 5,530 5,755 -3.9%  15,277 15,407 -0.8% Uruguay 3,226 2,596 24.3%  8,889 6,893 29.0% Ecuador 3,439 3,629 -5.2%  8,957 9,294 -3.6% Armenia 3,425 3,654 -6.3%  9,554 8,999 6.2% TOTAL 34,314 31,303 9.6%  95,947 87,943 9.1% Aircraft Movements  Argentina 41,370 38,489 7.5%  119,427 114,015 4.7% Italy 5,662 5,290 7.0%  14,767 13,695 7.8% Brazil 12,117 11,548 4.9%  34,583 35,607 -2.9% Uruguay 3,060 2,907 5.3%  9,911 9,720 2.0% Ecuador 6,434 6,407 0.4%  19,243 18,987 1.3% Armenia 2,826 2,763 2.3%  8,335 8,089 3.0% TOTAL 71,469 67,404 6.0%  206,266 200,113 3.1%

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2024, Corporación América Airports served 79.0 million passengers, 2.7% (or 0.4% excluding Natal) below the 81.1 million passengers served in 2023, and 6.2% 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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Contacts

Investor Relations Contact 
Patricio Iñaki Esnaola
Email: [email protected] 
Phone: +5411 4899-6716

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