Corporación América Airports S.A. Reports 1.9% YoY Increase in Total Passenger Traffic in November 2018
LUXEMBOURG--(BUSINESS WIRE)--Dec 19, 2018--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) the largest private sector airport operator in the world by number of airports, reported today preliminary year-over-year passenger traffic growth of 1.9% in November 2018.
Passenger Traffic Overview
Total passenger traffic in November 2018 increased by 1.9% YoY, primarily reflecting growth of 3.8% in Brazil, 6.9% in Italy and 11.6% in Armenia.
In Brazil, passenger traffic increased 3.8% YoY, driven by 3.7% growth in domestic traffic reflecting the addition of new frequencies to existing routes in several destinations at Brasilia Airport and easier comps at Natal Airport as traffic in 3Q17 in Natal was impacted by a reduction in frequencies while the runway was refurbished. International traffic at Brasilia Airport increased 0.6% impacted by the new traffic count methodology applied by ANAC since June 2018, which offset the traffic growth resulting from the launch of daily routes to Miami and Orlando by Gol Airlines. Based on the prior methodology, traffic would have increased 18.5% YoY at this airport.
In Italy, passenger traffic increased 6.9%, mainly as a result of addition of frequencies and an increase in load factor. International traffic at Pisa Airport rose 12.8% mainly driven by increased frequencies by Ryanair and the continued good performance of routes to Russia, while international traffic at Florence Airport increased 8.0%, primarily due to positive performance of the route to Lisbon operated by TAP, the increase in frequencies and a higher load factor in the route to Barcelona, operated by Vueling.
In Armenia, passenger traffic continued the positive trend seen in the last months, with an 11.6% increase YoY, although growth is expected to moderate in the coming months given the current situation in Russia, this airports’ main market.
In Argentina, despite the 4.7% growth in domestic traffic, total passenger traffic declined 1.0% YoY, mainly driven by declines of 10.2% and 11.9% in international and transit passengers, respectively, reflecting continued challenging macro conditions. Passenger traffic was also impacted by the closure of the Aeroparque, El Palomar and San Fernando airports in Buenos Aires, during the G20 event, which took place in the last two days of November. In addition, Edelweiss opened a new direct route to Zurich, Switzerland with two weekly flights and Norwegian Air Argentina continued to open new domestic routes in the period, with daily frequencies to Iguazú and Neuquén, while LASA suspended operations temporarily. JetSmart expects to initiate operations later in December with routes from Santiago de Chile. Moreover, FlyBondi and JetSmart have announced they are on track with their plans to open international routes from El Palomar to neighboring countries later this month.
In Uruguay, passenger traffic continued to decline 2.2% mainly due to macro conditions experienced in Argentina, which resulted in a decrease in passengers.
In Ecuador, passengers increased 7.3%, mainly to the continued good performance of Spirit Airlines, as well as an increase in general aviation during the period.
Cargo Volume and Aircraft Movements
Cargo volume increased 1.0% in November 2018 mainly as a result of the continued recovery in Brazil, partially offset by a 2.6% decline in Argentina, due to macro conditions and a reverse in the trend in Ecuador and Armenia, with declines of 3.0% and 6.7%, respectively.
Aircraft movements remained relatively flat in November 2018, mainly as a result of a 1.7% decline in Argentina, partially offset by increases of 16.6% in Ecuador and 5.9% in Italy.
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About Corporación América Airports
Corporación América Airports acquires, develops and operates airport concessions. The Company is the largest private airport operator in the world by the number of airports and the tenth largest based on passenger traffic. Currently, the Company operates 52 airports in 7 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Peru, Ecuador, Armenia and Italy). In 2017, Corporación América Airports served 76.6 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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KEYWORD: BRAZIL SOUTH AMERICA LUXEMBOURG EUROPE ARGENTINA URUGUAY
INDUSTRY KEYWORD: AIR TRANSPORT TRANSPORTATION TRAVEL PUBLIC TRANSPORT
SOURCE: Corporación América Airports S.A.
Copyright Business Wire 2018.
PUB: 12/19/2018 05:38 PM/DISC: 12/19/2018 05:39 PM