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Corporación América Airports S.A. Reports December 2020 Passenger Traffic

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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 a 68.8% year-over-year (YoY) decline in passenger traffic in December 2020.

Passenger Traffic, Cargo Volume and Aircraft Movements Highlights

Statistics

Dec’20

Dec’19(1)(2)(3)

% Var.

 

YTD’20(1)(2)

YTD’19(1)(2)(3)

% Var.

Domestic Passengers (thousands)

1,315

4,093

-67.9%

 

14,448

47,589

-69.6%

International Passengers (thousands)

384

2,193

-82.5%

 

7,069

28,216

-74.9%

Transit Passengers (thousands)

487

729

-33.1%

 

3,702

8,353

-55.7%

Total Passengers (thousands)

2,187

7,016

-68.8%

 

25,218

84,158

-70.0%

Cargo Volume (thousand tons)

25.6

36.4

-29.7%

 

255.6

424.8

-39.8%

Total Aircraft Movements (thousands)

33.2

71.5

-53.5%

 

352.9

857.9

-58.9%

(1)

Note that preliminary passenger traffic figures for Ezeiza Airport, in Argentina, for 2019 as well as January 2020 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 750 flights in August, 873 flights in September, 547 in October, 423 in November, 280 in December 2019, as well as 1,256 in January and 195 in February 2020 at Brasilia Airport, due to delays in the submission of information by third parties. Moreover, starting November 2019 the Company has reclassified its passenger traffic figures for Brasilia Airport between international, domestic and transit retroactively since June 2018 to return to the count methodology utilized until May 2018. Notwithstanding, total traffic figures remain unchanged.

(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 2020 dropped 68.8% YoY, reflecting the continued impact of the Covid-19 pandemic on air travel, although showing a slight sequential improvement from the 77.1% and 80.8% declines reported in November and October, respectively. In most of the countries of operations, certain travel restrictions and requirements are in place and passenger demand remains low. International traffic declined by 82.5% YoY, while domestic traffic dropped 67.9% YoY.

In Argentina, total passenger traffic declined 84.1% YoY, although improving from the 93.0% decline in November. International passenger traffic declined 84.8%, a sequential improvement from the 91.7% decline in November while domestic passenger traffic dropped 84.0% YoY, showing an improvement from the 93.1% drop in November. Moreover, in light of the new COVID-19 strain, the government decided to temporarily suspend the entry of foreigners from neighboring countries starting late December until the end of January.

In Italy, passenger traffic declined 91.4% YoY, with international and domestic traffic down 84.0% and 94.2% YoY, respectively, reflecting the reinstatement of air travel restrictions following a new COVID-19 outbreak in the region, and weak demand during the winter season. Moreover, the Italian government announced new travel restrictions on mid-December to contain the spread of the COVID-19 virus.

In Brazil, total passenger traffic continues to recover, with a 34.1% YoY decline showing a continued sequential improvement from the 41.7% drop in November. Domestic passenger traffic declined 36.2% resulting from a steady recovery in passenger demand, while international traffic dropped 91.8% YoY, mainly driven by low demand.

In Uruguay, borders remain closed to non-resident foreigners, with certain exemptions, and travel demand is still weak resulting in a passenger traffic decline of 88.5% YoY. On December 21, 2020, Uruguay suspended the entrance of all travelers, including Uruguayan citizens, until the end of January, with few exceptions.

In Ecuador, passenger traffic declined 60.8% YoY, improving sequentially from the 66.4% decline observed in November and the 70.3% drop in October.

In Armenia, while air travel bans were lifted during September, certain restrictions still apply and passenger demand remains low resulting in a passenger traffic drop of 70.3% during the month.

Cargo Volume and Aircraft Movements

Cargo volume decreased 29.7% on December 2020, mainly due to declines of 29.5% in Argentina, 38.7% in Brazil and 31.1% in Ecuador.

Aircraft movements declined 53.5% YoY in December 2020, mainly attributed to decreases of 62.9% in Argentina, 28.2% in Brazil, 76.1% in Italy and 33.6% in Ecuador. Aircraft movements also declined 70.1% in Uruguay, 65.2% in Armenia and 42.8% in Peru.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements

 

 

 

 

Dec’20 (2)

Dec’19 (1)(2)

% Var.

YTD’20(2)

YTD’19(1)(2)

% Var.

Passenger Traffic (thousands)

 

 

 

 

 

 

Argentina

576

3,614

-84.1%

 

9,960

43,405

-77.1%

Italy

45

517

-91.4%

 

1,974

8,239

-76.0%

Brazil

1,161

1,761

-34.1%

 

9,092

19,059

-52.3%

Uruguay

22

190

-88.5%

 

610

2,182

-72.1%

Ecuador

149

380

-60.8%

 

1,549

4,497

-65.6%

Armenia

71

238

-70.3%

 

826

3,196

-74.1%

Peru

164

316

-48.0%

 

1,208

3,579

-66.3%

TOTAL

2,187

7,016

-68.8%

 

25,218

84,158

-70.0%

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

Cargo Volume (tons)

Argentina

13,412

19,011

-29.5%

 

143,948

227,970

-36.9%

Italy

1,254

1,158

8.3%

 

13,256

13,192

0.5%

Brazil

5,016

8,180

-38.7%

 

34,857

91,241

-61.8%

Uruguay

2,186

2,582

-15.3%

 

28,916

29,132

-0.7%

Ecuador

2,097

3,043

-31.1%

 

16,842

38,006

-55.7%

Armenia

1,241

1,906

-34.9%

 

15,731

20,065

-21.6%

Peru

387

509

-23.9%

 

2,080

5,164

-59.7%

TOTAL

25,593

36,388

-29.7%

 

255,628

424,769

-39.8%

Aircraft Movements

Argentina

13,682

36,875

-62.9%

 

155,587

447,247

-65.2%

Italy

1,197

5,016

-76.1%

 

30,163

78,952

-61.8%

Brazil

10,442

14,541

-28.2%

 

89,445

161,775

-44.7%

Uruguay

938

3,136

-70.1%

 

13,045

29,662

-56.0%

Ecuador

4,715

7,101

-33.6%

 

41,565

82,374

-49.5%

Armenia

780

2,244

-65.2%

 

10,183

27,430

-62.9%

Peru

1,471

2,572

-42.8%

 

12,917

30,473

-57.6%

TOTAL

33,225

71,485

-53.5%

 

352,905

857,913

-58.9%

To obtain the full text of this press release, please click on the following link: http://investors.corporacionamericaairports.com

Category: Operational Statistic Source: Corporaci³n Amrica Airports S.A.

About Corporaci³n Amrica Airports

Corporaci³n Amrica Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 7 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Peru, Ecuador, Armenia and Italy). In 2019, Corporaci³n Amrica Airports served 84.2 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.

Investor Relations Contact

Gimena Albanesi

Email: [email protected]

Phone: +5411 4852-6411

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Lifshitz Law Firm, P.C. Announces Investigation of CHNG, COHR, LITE, CPAH, MGLN, NAV, OBLN, OXFD and WTRE

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NEW YORK, Jan. 24, 2021 /PRNewswire/ —

Change Healthcare Inc. (NASDAQ: CHNG)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of CHNG to Optum for $25.75 per share.

If you are a investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].

Coherent, Inc. (NASDAQ: COHR) – Lumentum Holdings Inc. (NASDAQ: LITE)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of COHR to LITE for $100.00 per share and 1.1851 LITE shares per share.

If you are a investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].

CounterPath Corporation (NASDAQ CM: CPAH)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of CPAH to Alianza, Inc. for $3.49 per share.

If you are a CPAH investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780.

Magellan Health, Inc. (NASDAQ: MGLN)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of MGLN to Centene Corporation for $95.00 per share.

If you are a investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].

Navistar International Corporation (NYSE: NAV)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of NAV to Traton for $44.50 per share.

If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].

Obalon Therapeutics, Inc. (NASDAQ: OBLN)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the merger of OBLN with ReShape Lifesciences Inc.

If you are a investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].

Oxford Immunotec Global PLC (NASDAQ: OXFD)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of OXFD to PerkinElmer, Inc. for $22.00 per share.

If you are a investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].

Watford Holdings Ltd. (NASDAQ:WTRE)

Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of WTRE to Arch Capital Group for $31.10 per share.

If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].

ATTORNEY ADVERTISING.© 2021 Lifshitz Law Firm, P.C.  The law firm responsible for this advertisement is Lifshitz Law Firm, P.C., 821 Franklin Avenue, Suite 209, Garden City, New York 11530, Tel: (516)493-9780.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact:

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Lifshitz Law Firm, P.C.
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Marine Stewardship Council: Assortment of top chefs combine for sustainable seafood cookbook

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The collaboration aims to encourage shoppers to make the best environmental choice when buying the seafood they love

 

SINGAPORE – Media OutReach – 14 January 2021 – The Marine Stewardship Council (MSC) — an environmental not-for-profit — is launching its first sustainable seafood cookbook in collaboration with top sensational chefs from across the globe. It is part of an initiative to encourage and inspire shoppers to commit to making the best environmental choice when buying the seafood they love this year, and beyond.

 

The Blue Cookbook is a digital collection of delicious recipes featuring a variety of species and styles which appeal to a range of preferences and tastes. Options include seared king prawns, haddock and broccoli bake, hake with cantonese glaze and steamed halibut with rice wine. Also contained within its pages is the environmental story behind the fish we eat, showing consumers how their actions can have a big ripple effect on ocean health.

 

Some of the contributors to the project are culinary director Lucas Glanville from Grand Hyatt Singapore and Executive chef Otto Goh from the Shangri-La Hotel Group in China.  All those involved are strong advocates for sustainable fishing and responsible sourcing.

 

Anne Gabriel, Programme Director for Oceania and Singapore at the Marine Stewardship Council said: “A new year has arrived, and with it a chance to make better choices for ourselves, our planet and our oceans. We’ve teamed up with incredible chefs to launch a unique sustainable seafood cookbook which features delicious, healthy and future-friendly recipes from across the globe. By choosing to buy from sustainable sources, everyone can help make sure the seafood we love can be enjoyed for years to come.”

 

Chef Lucas Glanville, who has contributed a Seared King Prawns said: Singapore diners and consumers are ready to embrace sustainable seafood as a way of life. The people are savvy, and the market is articulate about what is good for the environment. Our hotel has seen amazing growth in business due to our sustainable philosophy. This is all thanks to the support of our diners. We are all accountable for the future, we should do our part to protect the oceans for our future generation.”

 

The ocean is a vital part of human life on our planet. It provides a major source of protein to more than 3 billion people1, and millions rely on fisheries for their livelihood2. However, the oceans are under threat – 34% of global fisheries have been fished beyond sustainable limits, with this trend continuing to worsen slightly3.

 

For more than 20 years, the MSC has been tackling the problem of overfishing by incentivizing people to change their behaviour when buying seafood, through its certification and labelling program. Its international collaborative of partners including scientists, NGOs, fisheries, seafood companies, retailers, and restaurants work hand in hand to ensure seafood is wild, delicious, and above all else, sustainable.

 

NOTES TO EDITORS

Assets:

References:

1 UN FAO — State of the World’s Fisheries and Agriculture Report 2020 page 67

2 UN FAO — State of the World’s Fisheries and Agriculture Report 2020 page 95

3 UN FAO — State of the World’s Fisheries and Agriculture Report 2020 page 7

About the Marine Stewardship Council:

The MSC ecolabel on a seafood product means it is fully traceable to a wild-catch fishery which has been independently certified to the MSC’s science-based standard for sustainable fishing. Fisheries representing more than 17% of the world’s wild marine catch are engaged in its certification programme and more than 18,000 different MSC labelled products are available on shelves across the globe*. (*figures correct as of 31 March 2020). For more information visit msc.org or visit our social media pages:

Twitter: [View Image]https://twitter.com/MSCecolabel?lang=en

Instagram: https://www.instagram.com/mscecolabel_sg/

Facebook: [View Image]https://www.facebook.com/MSCinSingapore

LinkedIn: https://www.linkedin.com/company/361644/admin/

YouTube: [View Image]https://www.youtube.com/channel/UCOyikbSTLVihdPaJ1CxeqRQ?view_as=subscriber

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CUHK Business School Research Finds People Adapt and Grow More Conscientious When Promoted to Supervisory Roles at Work

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HONG KONG SAR – Media OutReach – 14 January 2021 – “It’s not who I am underneath, it’s what I do that defines me,” so says the titular hero from the 2005 blockbuster, Batman Begins, starring Christian Bale as the billionaire caped crusader. Instead of the hero Batman, a group of academics were inspired by what is probably one of the more profound lines in modern cinema and sought to find out whether people, as the quote suggests, do shape fundamentally who they are.

 

Specifically, it led Wendong Li, Associate Professor at the Department of Management at The Chinese University of Hong Kong (CUHK) Business School, to team up with seven other academics to examine whether taking on a leadership role — along with the added job responsibilities — can actually change people’s personality traits.

 

Prof. Li and the other researchers involved in the study, Can Becoming a Leader Change Your Personality? An Investigation With Two Longitudinal Studies From a Role-Based Perspective, hoped to find evidence that, rather than personality traits remaining relatively stable as traditionally assumed, they could change and develop during a person’s adult years.

 

“One of the crucial factors in driving adult personality development is taking on new roles at work,” he says. “As they take on wider responsibilities and play more important roles in organisations, novice leaders are expected to be more conscientious than when they were employees — more efficient, organised, vigilant, achievement-oriented, and dependable to subordinates.”

 

“Fulfilling the expectations and responsibilities required by leadership roles also means leaders must deal effectively with uncertainties and changes. Therefore, leaders need to be able to remain calm, and handle negative emotions in response to stress.”

 

The Big Five

The academics looked for changes in two of the so-called “Big Five” personality traits: conscientiousness, the tendency to be dependable, achievement oriented, reliable, organized, and to carry out one’s job or duty well and thoroughly — one of the best predictors of both leadership and job performance — and emotional stability, another desirable trait among leaders, which means a person can remain calm and deal with stressful situations and handle adversity effectively. The other traits in the Big Five are openness to experience, extroversion and agreeableness.

Prof. Li carried out the research alongside Prof. Shuping Li of Hong Kong Polytechnic University, Prof. Jie Feng of Rutgers University, Prof. Mo Wang of University of Florida, Prof. Michael Frese of the Asia School of Business and Leuphana University of Lueneburg, Prof. Chia-Huei Wu of the University of Leeds, as well as CUHK Business School PhD candidate Hong Zhang.

 

They tested their ideas in two studies using publicly available U.S. and Australian databases, which compared the personality development of individuals at different stages over lengthy periods. People were split into a “becoming leaders group”, for employees who were promoted into leadership roles, and a “non-leaders group” for those staff who remained as employee across time.

 

The research found that moving into leadership roles led to an increase in a person’s conscientiousness, and found no significant changes in people’s emotional stability in either study.

 

“The results of the two studies supported our hypotheses regarding the relationship between becoming a leader and the subsequent small, but substantial increases in levels of conscientiousness over time and the mediating effect of changes of job demands,” Prof. Li says.

 

They shed light on what, how and why personality traits change over time after a person takes on a supervisory role, and why the characteristics develop after people take on jobs where they face increased demands.

 

Prof. Li said insights gained from this research will help businesses better manage career development and plan leadership succession — a crucial issue for the sustainability of organisations.

 

“We suggest organisations consider assigning staff with informal leadership roles as a way to encourage them to develop management capabilities,” he says. “This may help them to develop the types of behaviour and traits associated with conscientiousness and prepare them for their future tasks.”

 

“We also encourage organisations to broaden the scope and content of training to include personality development and also focus on more holistic forms of leadership development.”

 

Personality Shifts

One study consisted of 61 people in the becoming leaders group and 128 in the non-leaders group and used U.S. data selected from three different time periods — firstly between 1995 and 1996, then after 10 years and finally after 20 years. The other study comprised 342 people in the leaders group and 675 in the non-leaders group, and used Australian data selected at four-year intervals from 2005, 2009 and 2012.

 

“Consistently, results from both of the studies showed that after becoming leaders, individuals enhanced their levels of conscientiousness and became more dependable, organised and efficient,” Prof. Li says. “For them to carry out these leadership roles successfully over time may lead them to become so used to adopting such behaviours that they become a habit and then ingrained as personality traits.”

 

He says the study could stimulate further research into the idea that “people are both producers and products of social systems”.

 

Earlier studies had examined influences of major life events, such as nailing a first job, marriage, and unemployment on personality development, and the influences of job satisfaction, characteristics, insecurity, income and occupational status. But the latest study extends this line of research by examining personality development after becoming a leader and, more importantly, a change in job demands, Prof. Li says. “Although personality traits are relatively stable, they were also prone to change — even if the transformation is not always dramatic.

 

“Not all people react to a change in the same way and what we discovered in this paper was a general trend. Future research can examine individual differences in the speed, timing, and magnitude of personality changes.”

 

The researchers highlighted two concerns. Firstly, previous research suggests that highly conscientious staff may not be able to adapt well to new environments and will lack the necessary creativity. Secondly, companies may need to provide training to leaders to help them balance the benefits and possible disadvantages — such as a more volatile working environment and reduced flexibility — associated with increases of conscientiousness.

 

The latest research, therefore, has important implications for employees when managing their future careers. “People need to weigh up the benefits and costs of taking on a management role,” Prof. Li says.

 

“Although promotion will lead to them developing greater levels of conscientiousness at work over time, it can also see them become less adaptable and creative. Taking on extra job demands may also increase the levels of stress they face and have a detrimental effect on their wellbeing.”

 

Reference:

Li, W.-D., Li, S., Feng, J. (J.), Wang, M., Zhang, H., Frese, M., & Wu, C.-H. (2020). Can becoming a leader change your personality? An investigation with two longitudinal studies from a role-based perspective. Journal of Applied Psychology. Advance online publication. https://doi.org/10.1037/apl0000808

 

This article was first published in the China Business Knowledge (CBK) website by CUHK Business School: https://bit.ly/38zsriM.

About CUHK Business School

CUHK Business School comprises two schools — Accountancy and Hotel and Tourism Management — and four departments — Decision Sciences and Managerial Economics, Finance, Management and Marketing. Established in Hong Kong in 1963, it is the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, the School offers 10 undergraduate programmes and 18 graduate programmes including MBA, EMBA, Master, MSc, MPhil and Ph.D.

In the Financial Times Global MBA Ranking 2020, CUHK MBA is ranked 50th. In FT‘s 2020 Executive MBA ranking, CUHK EMBA is ranked 15th in the world. CUHK Business School has the largest number of business alumni (40,000+) among universities/business schools in Hong Kong — many of whom are key business leaders. The School currently has more than 4,800 undergraduate and postgraduate students and Professor Lin Zhou is the Dean of CUHK Business School.

More information is available at http://www.bschool.cuhk.edu.hk or by connecting with CUHK Business School on:

Facebook: [View Image]www.facebook.com/cuhkbschool

Instagram: www.instagram.com/cuhkbusinessschool

LinkedIn: [View Image]http://www.linkedin.com/school/cuhkbusinessschool

WeChat: CUHKBusinessSchool

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