Corporación América Airports S.A. Reports 4.0% YoY Increase in Total Passenger Traffic in January 2019

Corporación América Airports S.A. (NYSE:CAAP), (“CAAP” or the
“Company”) the largest private sector airport operator in the world by
number of airports, reported today preliminary year-over-year passenger
traffic growth of 4.0% in January 2019.

Passenger Traffic Overview

Total passenger traffic in January 2019 increased by 4.0% YoY,
primarily reflecting growth of 6.5% in Argentina, 2.9% in Italy and
12.3% in Armenia.

In Argentina, total passenger traffic increased 6.5% YoY, mainly driven
by 15.5% growth in domestic passengers, benefiting from the launch of
new routes and addition of new airlines during 2018. This was partially
offset by declines of 5.3% and 5.6% in international and transit
passengers, respectively, which continue to reflect challenging macro
conditions. International traffic in Argentina, however, posted an
improvement from prior months as foreign tourism increased, combined
with pre-sales of air travel tickets that took place before the peso
devaluation along with installment sales offered by some airlines. In
addition, Norwegian Air Argentina opened a new domestic route to Salta
in January 2019, adding to its five other domestic routes. Moreover,
JetSmart airlines announced it will begin domestic operations in April
2019, starting with the launch of flights to Córdoba, Mendoza, Neuquén
and Salta.

In Italy, passenger traffic rose 2.9%, driven by an increase of 4.4% in
Pisa Airport mainly related to the addition of frequencies by Ryanair,
including the opening of a new route to Prague operated three times a
week, and flights by Pobeda to Moscow. In Florence Airport, passenger
traffic remained relatively flat, affected by adverse weather
conditions, which led to several re-routed or cancelled flights,
offsetting the good performance of TAP’s connection to Lisbon and the
addition of three weekly flights to Madrid by Iberia.

In Brazil, total passenger traffic remained flat with domestic traffic
increasing 4.2%, offset by a decline in international traffic mainly as
a result of the change in methodology in traffic count by ANAC. Domestic
traffic growth in Brasilia Airport slowed down to 3.7% from 7.1% in
December, impacted by a reduction in less profitable routes and
frequencies by LATAM Airlines as it seeks to optimize operations, and a
decline of approximately 20% in seat supply at Avianca Brasil. By
contrast, Gol recently announced the expansion of its operations at
Brasilia Airport that contemplates the launch of new domestic flights
throughout the first half of the year. International traffic at Brasilia
Airport declined 12.1% impacted by the new methodology in traffic count
applied since June 2018 as discussed above. This more than offset
traffic growth resulting from the continued good performance of routes
to Miami and Orlando opened by Gol Airlines in November and the addition
of a new direct flight to Buenos Aires during December. Based on the
prior methodology, international traffic would have increased 25.5% YoY
at this airport.

In Ecuador, passenger traffic increased 6.9%, with international
passenger traffic at Guayaquil Airport up 9.7%, mainly attributed to the
continued good performance of the Spirit Airlines flight to Fort
Lauderdale introduced in March 2018 and the increase in frequencies by
COPA Airlines. In addition, Aeromexico announced the launch of a new
route from Ciudad de México, starting in May with three weekly flights.

In Armenia, passenger traffic increased 12.3% still reflecting strong
travel trends from 2018. The launch of new routes in October by Azimuth,
serving three Russian destinations, also contributed to passenger
traffic growth.

Cargo Volume and Aircraft Movements

Cargo volume increased 3.4% in January 2019 mainly as a result a
34.5% increase in Brazil, mainly related to an increase in exports,
offset by a decline of 4.1% in Argentina, related to the continued
challenging macroeconomic conditions.

Aircraft movements remained flat in January 2019, mainly as a
result of increases of 2.4% in Argentina and 14.8% in Ecuador, partially
offset by a 6.9% decline in Brazil.

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport
concessions. The Company is the largest private airport operator in the
world by the number of airports and the tenth largest based on passenger
traffic. Currently, the Company operates 52 airports in 7 countries
across Latin America and Europe (Argentina, Brazil, Uruguay, Peru,
Ecuador, Armenia and Italy). In 2018, Corporación América Airports
served 81.3 million passengers. 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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