Corporación América Airports S.A. reported a 4.1% year-on-year decrease in total passenger traffic for June 2026, handling 6.6 million passengers compared to 6.9 million in the same period last year. The decline was primarily driven by a 12.5% drop in domestic traffic, which offset a 2.8% increase in international passengers. The company attributed the overall performance to a net negative temporary effect from the FIFA World Cup, which caused passengers to postpone or adjust travel plans.

Passenger Traffic Overview

In Argentina, total passenger traffic declined by 13.0% year over year. Domestic traffic decreased by 18.0%, driven by reduced capacity at Flybondi, which operated only three aircraft during the month, and lower capacity at Aerolíneas Argentinas following fuel price increases. International traffic in Argentina fell by 4.3%, with the load factor decreasing by three percentage points despite stable seat capacity. Top international destinations were Santiago de Chile, São Paulo, and Madrid.

Conversely, Italy reported a 4.0% increase in passenger traffic, supported by growth in both international and domestic segments. International traffic, which accounted for over 80% of volumes, grew by 4.7%, led by Pisa International Airport. Brazil saw a 3.9% rise in total traffic, with transit passengers increasing by 10.5%, while Uruguay recorded a slight 0.3% increase. Armenia posted a robust 16.0% growth, supported by strong demand from Europe, Asia, and Russia, and a new Wizz Air base. Ecuador’s traffic declined by 4.1% due to ongoing security concerns and elevated airfares.

Operational Metrics

Cargo volume decreased by 9.1% year over year to 28,477 tons, with declines recorded across all operating countries. Argentina, Brazil, and Uruguay accounted for nearly 80% of total cargo volumes. Aircraft movements declined by 5.7% to 67,332, as positive contributions from Armenia and Italy were offset by declines in Ecuador, Brazil, Argentina, and Uruguay.

Traffic Performance Summary

Passenger Traffic by Country

Corporación América Airports S.A. announced that its subsidiary Inframerica Concessionária do Aeroporto de Brasília S.A. has entered into a Transition Amendment Agreement (TAA) with the Brazilian Civil Aviation Authority (ANAC) to renegotiate the Brasília Airport concession. The agreement, approved by the Brazilian Federal Court in April 2026, introduces material changes to the economic equilibrium of the concession, including the replacement of the fixed concession fee with a variable fee and the addition of 10 regional airports. CAAP holds a 51% equity interest in Inframerica, while Infraero, a Brazilian state-owned company, holds the remaining 49%. The renegotiation involved ANAC, the Ministry of Ports and Airports, and the Federal Court of Accounts.

Key Changes to the Concession

The TAA outlines several modifications to the existing concession structure. These changes aim to improve the economic balance and service quality of the airport. The primary adjustments include:

Tender Process and Future Steps

Due to the material changes, the Brazilian Federal Court has mandated a fast-track competitive public tender process for 100% of Inframerica's shares. This process is expected to occur by December 2026. Corporación América Airports intends to participate in the tender. If no bids are submitted, the amended concession will be automatically granted to Inframerica.

Operational Context

Corporación América Airports currently operates 52 airports across six countries, including Argentina, Brazil, Uruguay, Ecuador, Armenia, and Italy. In 2025, the company served 86.7 million passengers, a 9.8% increase compared to the 79.0 million passengers served in 2024. The company is listed on the New York Stock Exchange under the ticker "CAAP".