6-K
CORPORACION AMERICA AIRPORTS S.A. (CAAP)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20546
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2023
Commission File Number: 333-221916
Corporación América Airports S.A.
(Name of Registrant)
4, rue de la Grêve
L-1643, Luxembourg
Tel: +35226258274
Fax: +35226259776
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 17, 2023
| Corporación America Airports S.A. | |
|---|---|
| By: | /s/ Andres Zenarruza |
| Name: | Andres Zenarruza |
| Title: | Head of Legal & Compliance |
| By: | /s/ Jorge Arruda |
| Name: | Jorge Arruda |
| Title: | Chief Financial Officer |
Exhibit Index
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release dated March 17, 2023 - Corporación América Airports S.A. Reports February 2023 Passenger Traffic. |
Exhibit 99.1
Corporación América Airports S.A. Reports February 2023 Passenger Traffic
Total passenger traffic up 35.5% YoY reaching 88% of pre-pandemic levels;
Armenia and Ecuador above February 2019 levels, while Argentina and Brazil at 91% and 82%, respectively
LUXEMBOURG--(BUSINESS WIRE)--March 17, 2023--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”) a leading private airport operator in the world, reported today a 35.5% YoY increase in passenger traffic in February 2023, reaching 88.1% of February 2019 levels.
| Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2022) | ||||||
|---|---|---|---|---|---|---|
| Statistics | Feb'23 | Feb'22 | % Var. | YTD’23 | YTD'22 | % Var. |
| Domestic Passengers (thousands) | 3,241 | 2,656 | 22.0% | 6,880 | 5,510 | 24.9% |
| International Passengers (thousands) | 1,899 | 1,094 | 73.6% | 4,035 | 2,201 | 83.3% |
| Transit Passengers (thousands) | 519 | 425 | 21.9% | 1,250 | 1,025 | 22.0% |
| Total Passengers (thousands) | 5,659 | 4,175 | 35.5% | 12,166 | 8,736 | 39.3% |
| Cargo Volume (thousand tons) | 25.4 | 25.4 | -0.2% | 51.7 | 50.5 | 2.4% |
| Total Aircraft Movements (thousands) | 60.6 | 48.8 | 24.1% | 129.7 | 99.6 | 30.3% |
| Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2023 vs. 2019) | ||||||
| Statistics | Feb'23 | Feb'19 | % Var. | YTD’23 | YTD'19^(1)(2)^ | % Var. |
| Domestic Passengers (thousands) | 3,241 | 3,590 | -9.7% | 6,880 | 7,600 | -9.5% |
| International Passengers (thousands) | 1,899 | 2,107 | -9.9% | 4,035 | 4,487 | -10.1% |
| Transit Passengers (thousands) | 519 | 729 | -28.8% | 1,250 | 1,578 | -20.8% |
| Total Passengers (thousands) | 5,659 | 6,426 | -11.9% | 12,166 | 13,666 | -11.0% |
| Cargo Volume (thousand tons) | 25.4 | 33.8 | -24.9% | 51.7 | 66.8 | -22.6% |
| Total Aircraft Movements (thousands) | 60.6 | 66.5 | -9.0% | 129.7 | 141.2 | -8.1% |
| (1) | Note that preliminary passenger traffic figures for 2019, as well as January 2020 for Ezeiza Airport, in Argentina, were adjusted to include additional inbound passengers<br> 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<br> tariffs are applicable on departure passengers. | |||||
| --- | --- | |||||
| (2) | 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 grew 35.5% compared to the same month of 2022, supported by an ongoing recovery in travel demand after the Covid-19 pandemic, as reflected by higher load factors and the gradual resumption of routes and frequencies across all countries of operations. Overall passenger traffic reached 88.1% of February 2019 levels, down from the 89.9% posted in January, with international and domestic passenger traffic reaching 90.1% and 90.3% of February 2019 levels, respectively.
In Argentina, total passenger traffic continued to recover increasing 40.2% YoY and reaching 91.3% of February 2019 levels, slightly down from the 93.0% posted in January. International passenger traffic reached 77.8% of pre-pandemic levels, in line with the 77.7% recorded in January, while domestic passenger traffic reached 99.3% of February 2019 pre-pandemic levels.
In Italy, passenger traffic grew 54.6% versus the same month of 2022. When compared to pre-pandemic levels, total traffic stood at 89.8% of February 2019, down from the 91.9% posted in January, with international passenger traffic, which accounted for almost 75% of total traffic, reaching 93.0% of February 2019 levels, up from the 92.6% recorded in January.
In Brazil, total passenger traffic increased 13.3% YoY, and reached 82.4% of February 2019 levels, down from 85.3% recorded in January. Domestic traffic, which accounted for more than 60% of total traffic, improved to 93.2% of pre-pandemic levels whereas transit passengers reached 68.4% of February 2019 levels.
In Uruguay, total passenger traffic, which is largely international, increased 50.4% YoY and reached 72.8% of February 2019 levels, down from the 74.4% posted in January, partly impacted by a weaker-than-expected seasonal tourism, in Punta del Este.
In Ecuador, passenger traffic increased 29.1% YoY and surpassed pre-pandemic levels by 0.7%. International passenger traffic exceeded pre-pandemic levels by 5.6%, whereas domestic passenger traffic reached 96.8% of February 2019 pre-pandemic levels.
In Armenia, passenger traffic surpassed pre-pandemic levels for the tenth consecutive month, at 191.5% of February 2019 figures. On a YoY basis, passenger traffic increased 91.1%.
Cargo Volume and Aircraft Movements
Cargo volume remained unchanged YoY and reached 75.1% of February 2019 levels, or to 76.0% when adjusting for the discontinuation of operations in Peru. Cargo volumes in Armenia, Uruguay and Italy were above pre-pandemic levels, whereas Argentina, Brazil and Ecuador stood at 74.6%, 57.3% and 67.1%, respectively. Around 80% of cargo volume originated in Argentina, Ecuador and Brazil.
Aircraft movements increased 24.1% YoY reaching 91.0% of February 2019 levels, or 94.1% when adjusting for the discontinuation of operations in Peru. Around 85% of aircraft movements originated in Argentina, Brazil and Ecuador, which reached 92.2%, 92.1% and 93.2% of February 2019 levels, respectively. Aircraft movements in all countries of operations were above 90% of February 2019 levels, with Armenia exceeding pre-pandemic levels by 78.2%, except for Italy that stood at 86.8%.
Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2022)
| Feb'23 | Feb'22 | % Var. | YTD'23 | YTD'22 | % Var. | |
|---|---|---|---|---|---|---|
| Passenger Traffic (thousands) | ||||||
| Argentina^(1)^ | 3,204 | 2,285 | 40.2% | 6,789 | 4,558 | 48.9% |
| Italy | 386 | 250 | 54.6% | 809 | 440 | 83.7% |
| Brazil | 1,252 | 1,105 | 13.3% | 2,844 | 2,632 | 8.1% |
| Uruguay | 154 | 102 | 50.4% | 337 | 216 | 56.0% |
| Ecuador | 344 | 267 | 29.1% | 705 | 509 | 38.5% |
| Armenia | 319 | 167 | 91.1% | 682 | 381 | 79.1% |
| TOTAL | 5,659 | 4,175 | 35.5% | 12,166 | 8,736 | 39.3% |
| (1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table. | ||||||
| Cargo Volume (tons) | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| Argentina | 12,736 | 13,330 | -4.5% | 26,095 | 26,968 | -3.2% |
| Italy | 1,056 | 1,217 | -13.2% | 2,108 | 2,373 | -11.2% |
| Brazil | 4,839 | 4,579 | 5.7% | 9,796 | 8,606 | 13.8% |
| Uruguay^(2)^ | 2,076 | 2,025 | 2.5% | 4,061 | 4,095 | -0.8% |
| Ecuador | 2,434 | 2,852 | -14.6% | 5,181 | 5,982 | -13.4% |
| Armenia | 2,257 | 1,444 | 56.3% | 4,505 | 2,494 | 80.7% |
| TOTAL | 25,398 | 25,446 | -0.2% | 51,746 | 50,517 | 2.4% |
| Aircraft Movements | ||||||
| Argentina | 33,554 | 26,449 | 26.9% | 71,196 | 51,679 | 37.8% |
| Italy | 3,732 | 2,978 | 25.3% | 7,845 | 6,000 | 30.8% |
| Brazil | 11,711 | 10,004 | 17.1% | 25,313 | 22,281 | 13.6% |
| Uruguay | 2,712 | 2,384 | 13.8% | 6,479 | 5,215 | 24.2% |
| Ecuador | 6,099 | 5,630 | 8.3% | 12,730 | 11,306 | 12.6% |
| Armenia | 2,765 | 1,347 | 105.3% | 6,145 | 3,099 | 98.3% |
| TOTAL | 60,573 | 48,792 | 24.1% | 129,708 | 99,580 | 30.3% |
Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2023 vs. 2019)
| Feb'23 | Feb'19 | % Var. | YTD'23 | YTD'19 | % Var. | |
|---|---|---|---|---|---|---|
| Passenger Traffic (thousands) | ||||||
| Argentina^(1)^ | 3,204 | 3,509 | -8.7% | 6,789 | 7,362 | -7.8% |
| Italy | 386 | 429 | -10.2% | 809 | 889 | -9.1% |
| Brazil | 1,252 | 1,521 | -17.6% | 2,844 | 3,387 | -16.0% |
| Uruguay | 154 | 211 | -27.2% | 337 | 458 | -26.4% |
| Ecuador | 344 | 342 | 0.7% | 705 | 695 | 1.5% |
| Armenia | 319 | 167 | 91.5% | 682 | 379 | 80.0% |
| Peru | 247 | - | - | 496 | - | |
| TOTAL | 5,659 | 6,426 | -11.9% | 12,166 | 13,666 | -11.0% |
| (1) See Footnote 1 in previous table. (2) See Footnote 2 in previous table. | ||||||
| Cargo Volume (tons) | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| Argentina | 12,736 | 17,067 | -25.4% | 26,095 | 35,911 | -27.3% |
| Italy | 1,056 | 990 | 6.7% | 2,108 | 2,017 | 4.5% |
| Brazil | 4,839 | 8,441 | -42.7% | 9,796 | 14,483 | -32.4% |
| Uruguay^(2)^ | 2,076 | 1,916 | 8.4% | 4,061 | 4,036 | 0.6% |
| Ecuador | 2,434 | 3,626 | -32.9% | 5,181 | 7,358 | -29.6% |
| Armenia | 2,257 | 1,368 | 65.0% | 4,505 | 2,227 | 102.3% |
| Peru | - | 418 | - | - | 787 | - |
| TOTAL | 25,398 | 33,824 | -24.9% | 51,746 | 66,820 | -22.6% |
| Aircraft Movements | ||||||
| Argentina | 33,554 | 36,403 | -7.8% | 71,196 | 76,543 | -7.0% |
| Italy | 3,732 | 4,302 | -13.2% | 7,845 | 8,946 | -12.3% |
| Brazil | 11,711 | 12,710 | -7.9% | 25,313 | 27,380 | -7.5% |
| Uruguay | 2,712 | 2,848 | -4.8% | 6,479 | 6,789 | -4.6% |
| Ecuador | 6,099 | 6,545 | -6.8% | 12,730 | 13,699 | -7.1% |
| Armenia | 2,765 | 1,552 | 78.2% | 6,145 | 3,500 | 75.6% |
| Peru | - | 2,174 | - | - | 4,338 | - |
| TOTAL | 60,573 | 66,534 | -9.0% | 129,708 | 141,195 | -8.1% |
About Corporación América Airports
Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2022, Corporación América Airports served 65.6 million passengers, 83.7% above the 35.7 million passengers served in 2021 and 22.1% 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.
Contacts
Investor Relations Contact
Patricio Iñaki Esnaola
Email: patricio.esnaola@caairports.com
Phone: +5411 4899-6716