CAAP News & Events

Total passenger traffic increased by 2.6% in April compared to the same month in 2025. Domestic traffic decreased by 3.5% year over year, primarily driven by a decline in Argentina. International traffic, meanwhile, grew by 7.6%, with all operating countries contributing positively on a year-over-year basis except Brazil and Uruguay. This included high single-digit growth in Argentina, Italy, and Armenia, as well as double-digit growth in Ecuador. Traffic performance in Armenia during March and April was partially impacted by disruptions related to the conflict in Iran, which resulted in flight cancellations and airspace restrictions across the region. However, the impact was more limited than initially expected.

Reports Q1 revenue $537.6M vs. $447.8M last year. Commenting on the results for the quarter Mr. Martin Eurnekian, CEO of Corporacion America Airports, noted: "We delivered a strong start to 2026, with broad-based growth across our airport network and continued progress on our key financial metrics. Total traffic increased 7% year-over-year to 21.8 million passengers, led by a 14% increase in international traffic, with positive international performance across every country in which we operate. Revenues excluding construction services rose 19% year-over-year, supported by solid growth in both aeronautical and commercial revenues and, once again, outpacing passenger traffic growth. Profitability also advanced meaningfully during the quarter. Adjusted EBITDA excluding IFRIC 12 increased 26% year-over-year to $196 million, while the corresponding margin expanded 2.3 percentage points to 39.6%. These results reflect the continued benefits of our diversified platform, active commercial execution and disciplined cost control. Argentina was an important driver of performance, with strong growth in international travel helping to offset softer domestic demand, which was impacted by temporary operational disruptions during the quarter. Across the rest of the portfolio, we also continued to see positive trends. Brazil posted a strong recovery, while Italy and Uruguay benefited from healthy international demand, Ecuador continued to grow despite security-related challenges, and Armenia remained resilient, supported by greater connectivity and a more limited-than-expected impact from the conflict in the Middle East. Our financial position continued to strengthen. Cash and cash equivalents reached $666 million at quarter-end, and net leverage stood at 0.5x, reflecting higher Adjusted EBITDA, strong cash generation and disciplined capital allocation. This strong balance sheet provides flexibility to fund committed investment programs, as well as to continue evaluating growth opportunities. On the strategic front, we continue to advance our growth agenda with discipline. Following the concession awards received in Iraq and Angola, we are in ongoing discussions with the respective governments to finalize the terms of the concession agreements. We also remain focused on progressing our investment priorities across the existing portfolio, including key infrastructure and commercial initiatives designed to enhance capacity, improve the passenger experience and strengthen our platform over the long term. Looking ahead, we are encouraged by the strength of traffic trends across our network, with solid demand continuing into the second quarter, particularly in international markets. At the same time, we will continue to closely monitor geopolitical developments in the Middle East and any potential implications for traffic, airlines capacity and fuel supply. We remain focused on maintaining a healthy financial position, investing with discipline and executing our strategy to drive sustainable value creation."

Total passenger traffic increased by 5.5% in March compared to the same month in 2025. Domestic traffic decreased by 2.4% YoY, mainly driven by a decline in Argentina, partially offset by YoY improvements in Brazil and Ecuador. International traffic, meanwhile, grew by 12.2%, with all operating countries contributing positively on a YoY basis except Brazil, including double-digit growth in Argentina, Italy, and Ecuador. March performance in Armenia was partially impacted by disruptions related to the conflict in Iran, which led to flight cancellations and airspace restrictions across the region.