Corporación América Airports S.A. Reports 4.0% YoY Increase in Total Passenger Traffic in January 2019

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Corporaci³n 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 preliminary year-over-year passenger traffic growth of 4.0% in January 2019.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights    
Statistics   Jan’19   Jan’18   % Chg.
Domestic Passengers (thousands)   4,006   3,661   9.4%
International Passengers (thousands)   2,320   2,363   -1.8%
Transit Passengers (thousands)   869   897   -3.2%
Total Passengers (thousands)   7,195   6,921   4.0%
Cargo Volume (thousand tons)   32.8   31.7   3.4%
Total Aircraft Movements (thousands)   74.7   74.6   0.1%

Passenger Traffic Overview

Total passenger traffic in January 2019 increased by 4.0% YoY, primarily reflecting growth of 6.5% in Argentina, 2.9% in Italy and 12.3% in Armenia.

In Argentina, total passenger traffic increased 6.5% YoY, mainly driven by 15.5% growth in domestic passengers, benefiting from the launch of new routes and addition of new airlines during 2018. This was partially offset by declines of 5.3% and 5.6% in international and transit passengers, respectively, which continue to reflect challenging macro conditions. International traffic in Argentina, however, posted an improvement from prior months as foreign tourism increased, combined with pre-sales of air travel tickets that took place before the peso devaluation along with installment sales offered by some airlines. In addition, Norwegian Air Argentina opened a new domestic route to Salta in January 2019, adding to its five other domestic routes. Moreover, JetSmart airlines announced it will begin domestic operations in April 2019, starting with the launch of flights to C³rdoba, Mendoza, Neuqun and Salta.

In Italy, passenger traffic rose 2.9%, driven by an increase of 4.4% in Pisa Airport mainly related to the addition of frequencies by Ryanair, including the opening of a new route to Prague operated three times a week, and flights by Pobeda to Moscow. In Florence Airport, passenger traffic remained relatively flat, affected by adverse weather conditions, which led to several re-routed or cancelled flights, offsetting the good performance of TAPs connection to Lisbon and the addition of three weekly flights to Madrid by Iberia.

In Brazil, total passenger traffic remained flat with domestic traffic increasing 4.2%, offset by a decline in international traffic mainly as a result of the change in methodology in traffic count by ANAC. Domestic traffic growth in Brasilia Airport slowed down to 3.7% from 7.1% in December, impacted by a reduction in less profitable routes and frequencies by LATAM Airlines as it seeks to optimize operations, and a decline of approximately 20% in seat supply at Avianca Brasil. By contrast, Gol recently announced the expansion of its operations at Brasilia Airport that contemplates the launch of new domestic flights throughout the first half of the year. International traffic at Brasilia Airport declined 12.1% impacted by the new methodology in traffic count applied since June 2018 as discussed above. This more than offset traffic growth resulting from the continued good performance of routes to Miami and Orlando opened by Gol Airlines in November and the addition of a new direct flight to Buenos Aires during December. Based on the prior methodology, international traffic would have increased 25.5% YoY at this airport.

In Ecuador, passenger traffic increased 6.9%, with international passenger traffic at Guayaquil Airport up 9.7%, mainly attributed to the continued good performance of the Spirit Airlines flight to Fort Lauderdale introduced in March 2018 and the increase in frequencies by COPA Airlines. In addition, Aeromexico announced the launch of a new route from Ciudad de Mxico, starting in May with three weekly flights.

In Armenia, passenger traffic increased 12.3% still reflecting strong travel trends from 2018. The launch of new routes in October by Azimuth, serving three Russian destinations, also contributed to passenger traffic growth.

Cargo Volume and Aircraft Movements

Cargo volume increased 3.4% in January 2019 mainly as a result a 34.5% increase in Brazil, mainly related to an increase in exports, offset by a decline of 4.1% in Argentina, related to the continued challenging macroeconomic conditions.

Aircraft movements remained flat in January 2019, mainly as a result of increases of 2.4% in Argentina and 14.8% in Ecuador, partially offset by a 6.9% decline in Brazil.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements    
    Jan’19   Jan’18   % Chg.
Passenger Traffic (thousands)            
Argentina   3,808   3,576   6.5%
Italy   460   447   2.9%
Brazil   1,866   1,853   0.7%
Uruguay   247   259   -4.6%
Ecuador   353   330   6.9%
Armenia   212   189   12.3%
Peru   249   268   -7.1%
TOTAL   7,195   6,921   4.0%
Cargo Volume (tons)            
Argentina   18,845   19,644   -4.1%
Italy   1,027   886   16.0%
Brazil   6,042   4,493   34.5%
Uruguay   1,909   2,019   -5.4%
Ecuador   3,733   3,389   10.1%
Armenia   859   892   -3.7%
Peru   370   387   -4.6%
TOTAL   32,784   31,710   3.4%
Aircraft Movements            
Argentina   40,140   39,185   2.4%
Italy   4,644   4,533   2.4%
Brazil   14,670   15,753   -6.9%
Uruguay   3,941   4,535   -13.1%
Ecuador   7,154   6,230   14.8%
Armenia   1,948   1,739   12.0%
Peru   2,164   2,609   -17.1%
TOTAL   74,661   74,584   0.1%

About Corporaci³n Amrica Airports

Corporaci³n Amrica 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 2018, Corporaci³n Amrica Airports served 81.3 million passengers. The Company is listed on the New York Stock Exchange where it trades under the ticker CAAP. For more information, visit https://investors.corporacionamericaairports.com.

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