Total passenger traffic up 8.5% YoY, up 7.4% YoY in Argentina

International passenger traffic up 12.3% YoY; up 12.8% YoY in Argentina

Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), one of the leading private airport operators in the world, reported today an 8.5% year-on-year (YoY) increase in passenger traffic in November 2025.

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Monthly Passenger Traffic Performance (In million PAX)

Passenger Traffic Overview

Total passenger traffic increased by 8.5% in November compared to the same month in 2024. Domestic passenger traffic rose by 4.4% YoY, largely driven by Argentina, Brazil, and Ecuador. Meanwhile, international traffic grew by 12.3%, with all operating countries contributing positively on a YoY basis except Ecuador, including double-digit growth in Argentina, Armenia, Italy, and Brazil. Notably, Argentina accounted for 50% of the total YoY traffic growth in November.

In Argentina, total passenger traffic increased by 7.4% YoY, driven by strong performance across both the international and domestic segments. Domestic traffic grew by 3.6% YoY, supported by higher load factors exceeding 90% on most key domestic routes. In November, Aerolíneas Argentinas resumed its service to Río Cuarto, Córdoba, while JetSMART and Flybondi increased frequencies on their Buenos Aires–Resistencia and Buenos Aires–San Juan routes, respectively. International traffic also remained solid, rising 12.8% YoY, supported by several developments, including Arajet’s increase from 10 to 13 weekly flights during the summer season on its Buenos Aires–Punta Cana route. Additionally, Delta introduced a second frequency on the Atlanta–Buenos Aires route, to be operated during the 2025/2026 summer season, while Copa reached daily service on its Mendoza–Panama route, and LEVEL increased to 12 weekly flights on its Buenos Aires–Barcelona route.

In Italy, passenger traffic grew by 10.4% compared to the same month in 2024. International passenger traffic, which accounted for nearly 80% of total traffic, rose a strong 16.3% YoY, driven by double-digit growth at both Florence and Pisa airports. Domestic passenger traffic declined by 6.1% YoY, reflecting a decrease in aircraft movements, partly due to Airbus A320 technical issues that led to flight cancellations at some airlines.

In Brazil, total passenger traffic increased by 10.8% YoY, reflecting an improvement in traffic trends despite ongoing challenges in the aviation environment. Domestic traffic, which accounted for almost 60% of total traffic, rose by 8.1% YoY, while transit passengers increased by 14.4% YoY. Notably, although representing a small share of total traffic (5%), international traffic grew by 18.3% YoY.

In Uruguay, total passenger traffic, predominantly international, increased by 7.5% YoY. Among other developments, traffic in November benefited from the addition of two weekly frequencies by SKY Airlines on its Santiago de Chile route, while Punta del Este Airport anticipates a strong peak season, with GOL and Aerolíneas Argentinas increasing their services.

In Ecuador, where security concerns persist, passenger traffic increased by 2.7% YoY. International traffic declined by 1.4% YoY, while domestic traffic increased by 7.6% YoY. High airfares continued to weigh on travel demand.

In Armenia, passenger traffic increased by a strong 15.9% YoY, supported by the introduction of new airlines and routes, as well as increased flight frequencies. In October, Wizz Air launched a new base at Yerevan’s Zvartnots Airport, deploying two aircraft and adding eight new direct routes to Europe.

Cargo Volume and Aircraft Movements

Cargo volume decreased slightly by 0.6% YoY, with negative YoY contributions from all countries of operations, except for Argentina. Performance by country was as follows: Argentina (+9.4%), Brazil (-24.1%), Italy (-10.1%), Armenia (-9.3%), Uruguay (-4.5%), and Ecuador (-3.2%). Argentina, Brazil, and Armenia accounted for over 80% of total cargo volume in November.

Aircraft movements increased by 5.0% YoY, with positive contributions from all countries of operation, except Ecuador: Uruguay (+15.1%), Brazil (+9.5%), Armenia (+7.9%), Italy (+7.6%), Argentina (+3.8%), and Ecuador (-3.0%). Argentina, Brazil, and Ecuador accounted for more than 80% of total aircraft movements in November.

Summary Passenger Traffic, Cargo Volume and Aircraft Movements (2025 vs. 2024)

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. Currently, the Company operates 52 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2024, Corporación América Airports served 79.0 million passengers, 2.7% (or 0.4% excluding Natal) below the 81.1 million passengers served in 2023, and 6.2% 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.

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