Corporacion America Airports Stock Rises on September Passenger Growth

3-line summary

• Corporacion America Airports (CAAP), which operates 52 airports across six countries, reported September passengers of 7.7 million, up 3.4% year-over-year from 7.4 million; international traffic rose 7.2% while domestic traffic fell 1.0%. Cargo rose 0.8% to 33,000 tonnes, and aircraft movements were flat at 74,000. Year-to-date (January-September) passengers reached 66 million, up 2.5%, with international up 8.4% and domestic down 4.5%.
• By market: Argentina (its largest market) carried 3.9 million passengers, up 1.7% and a September record, with domestic traffic turning positive (+0.6%) after seven straight months of decline. Italy grew 8.0% to 1.1 million, the strongest among major markets. Armenia posted the highest growth rate at 18.7% (656,000 passengers) despite regional disruption from the Iran conflict. Brazil fell 1.7% to 1.4 million, with domestic traffic down 8.6%; Ecuador (+6.4%) and Uruguay (+4.3%) both grew.
• CAAP shares rose 2.7% Friday following the September passenger data release.

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