LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), or the "Company† ), one of the world's leading private airport operators, reported todav ("CAAP†an 8.5% year-on-year (YoY) increase in passenger traffic in December 2025 and a 9.8% YoY increase for full- year 2025. Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2025 vs. 2024) Statistics Dec'25 Dec'24 % Var.  2025 2024 % Var.  Domestic Passengers (thousands) 3,995 3,772 5.9%  44,507 40.996 8.6%  I. ...

LUXEMBOURG--(BUSINESS WIRE)--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. Passenger Traffic, Cargo Volume and Aircraft Movements Highlights (2025 vs. 2024) | Statistics | Nov'25 | Nov'24 | % | YTD'25 | YTD'24 | % | | --- | --- | --- | --- | --- | --- | --- | | | | | Var. | | | Var. | | Domestic Passengers (thousands) | 3,824 | 3,6 ...

Core Viewpoint - Grupo Aeroportuario del Pacífico (GAP) has received shareholder approval for the business combination with Cross Border Xpress (CBX), which includes technical assistance and technology transfer services, marking a significant step in the company's development strategy [1][3]. Company Overview - GAP operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, as well as tourist destinations such as Puerto Vallarta and Los Cabos [4]. - The company was listed on the New York Stock Exchange in February 2006 and on the Mexican Stock Exchange in the same year [4]. - GAP has expanded its operations internationally, acquiring a majority stake in MBJ Airports Limited in Jamaica and entering into a concession agreement for the Norman Manley International Airport [4]. Shareholder Meeting Outcomes - During the Ordinary and Extraordinary General Shareholders' Meeting, 96% of the votes cast approved the merger, with a quorum of 88.1% of shareholders present [1]. - The merger will involve the issuance of approximately 90 million net new shares, increasing the total outstanding shares from approximately 505 million to about 595 million [2]. Governance and Transparency - The company emphasized adherence to high international standards of corporate governance throughout the proposal process, ensuring that the transaction was supported by the "majority of the minority" shareholders [3]. - An information statement regarding the transaction was provided to shareholders well in advance of legal requirements, promoting transparency in the decision-making process [3].

Core Insights - Corporación América Airports S.A. reported a 10.2% year-on-year increase in passenger traffic for October 2025, indicating strong growth in the aviation sector [1] Passenger Traffic Highlights - Domestic passengers reached 3,925 thousand in October 2025, up 9.1% from 3,596 thousand in October 2024 [1] - Year-to-date domestic passenger numbers for 2025 stand at 36,688 thousand, reflecting a 9.3% increase compared to 33,561 thousand in the same period of 2024 [1] Cargo Volume and Aircraft Movements - The report includes statistics on cargo volume and aircraft movements, although specific figures were not detailed in the provided text [1]

Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported a 0.7% increase in total terminal passenger traffic across its 12 Mexican airports for October 2025 compared to October 2024 [2] - The company experienced mixed results at individual airports, with Guadalajara and Puerto Vallarta showing increases, while Tijuana and Los Cabos saw declines [2][3] Passenger Traffic Summary - Total terminal passengers increased from 2,951.8 thousand in October 2024 to 3,012.2 thousand in October 2025, marking a 2.0% growth [3] - Year-to-date (January to October) total passengers rose from 28,404.4 thousand to 30,083.8 thousand, reflecting a 5.9% increase [3] Domestic Passenger Traffic - Domestic terminal passengers decreased from 1,964.0 thousand in October 2024 to 1,862.5 thousand in October 2025, a decline of 5.2% [5] - Year-to-date domestic passengers slightly decreased from 22,648.7 thousand to 22,599.4 thousand, a change of -0.2% [5] International Passenger Traffic - International terminal passengers saw a decline from 2,951.8 thousand in October 2024 to 2,874.2 thousand in October 2025, a decrease of 2.6% [6] - Year-to-date international passengers increased from 28,404.4 thousand to 30,083.8 thousand, a growth of 5.9% [6] Airport-Specific Performance - Guadalajara Airport reported a 3.4% increase in passenger traffic, rising from 1,054.4 thousand to 1,090.7 thousand [3] - Tijuana Airport experienced a 2.3% decrease, with traffic falling from 711.8 thousand to 695.8 thousand [3] - Los Cabos Airport saw a significant drop of 7.4%, from 233.4 thousand to 216.2 thousand [3] - Puerto Vallarta Airport increased by 5.2%, from 231.6 thousand to 243.8 thousand [3] Impact of Hurricane Melissa - Hurricane Melissa significantly affected passenger traffic at Jamaican airports, with Montego Bay and Kingston experiencing declines of 17.6% and 13.0%, respectively [2][10] - Montego Bay Airport resumed operations on October 31, 2025, after sustaining considerable damage [11] Operational Highlights - The number of available seats increased by 6.0% in October 2025 compared to October 2024, while load factors decreased from 86.5% to 80.9% [9]

Core Points - Grupo Aeroportuario del Pacífico (GAP) has resumed operations at Montego Bay International Airport for evacuation flights and humanitarian aid following Hurricane Melissa [1] - Limited commercial operations are expected to restart on November 1 at 7:00 a.m. local time, as the company works on restoring essential airport infrastructure and assessing damage [2] - GAP prioritizes the safety and well-being of passengers, employees, and business partners, ensuring all airport systems meet high safety standards before full commercial operations resume [3] Company Overview - GAP operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, and tourist destinations such as Puerto Vallarta and Los Cabos [4] - The company was listed on the New York Stock Exchange in February 2006 and acquired a majority stake in MBJ Airports Limited, which operates Sangster International Airport in Jamaica, in April 2015 [4] - GAP entered into a concession agreement for the operation of Norman Manley International Airport in Kingston, Jamaica, in October 2018, taking control in October 2019 [4]

Core Insights - Corporación América Airports S.A. reported a 9.4% year-on-year increase in passenger traffic for September 2025, indicating strong growth in the aviation sector [1] Passenger Traffic Highlights - Domestic passengers reached 3,743 thousand in September 2025, up 10.9% from 3,376 thousand in September 2024 [1] - Year-to-date domestic passenger numbers for 2025 stand at 32,763 thousand, reflecting a 9.3% increase compared to 29,965 thousand in the same period of 2024 [1] Cargo Volume and Aircraft Movements - International passenger figures for September 2025 were reported at 2,971 thousand, showcasing the company's performance in the international market [1]

Core Thesis - Corporación América Airports S.A. (CAAP) is viewed positively due to its strong market position, financial metrics, and favorable economic conditions in Argentina, suggesting significant upside potential for investors [1][5]. Company Overview - CAAP operates 53 airports, primarily in South America, with a focus on Argentina, benefiting from high-quality assets that function as local monopolies with substantial regulatory barriers and built-in price escalators [2]. Financial Performance - The company reported a trailing P/E of 20.35 and a forward P/E of 4.89, with an enterprise value of $4.1 billion and LTM EBITDA of $641 million, resulting in an attractive EV/EBITDA multiple of 6.4x [1][4]. - Levered free cash flow is approximately $600 million, providing the company with the flexibility to reinvest in expansion, pursue acquisitions, or return capital to shareholders [4]. Growth Drivers - Passenger traffic across CAAP's airports grew by 13.7% last quarter, driven by both domestic and international demand, and is expected to continue growing due to Argentina's pro-business policies under President Javier Milei [3]. - The extension of airport leases by ten years at no extra cost and the encouragement of competition from international and low-cost carriers are anticipated to drive higher passenger volumes and revenue growth [3]. Future Outlook - With the ongoing recovery in air travel and Argentina's economic improvements, CAAP is projected to achieve annual revenue growth of over 15% in the coming years, alongside margin expansion [5]. - The combination of undervaluation, high-quality assets, strong cash flow, and multiple growth catalysts positions CAAP as a compelling investment opportunity for both equity and credit investors [5].

Group 1 - Corporación América Airports S.A. is one of the largest airport operators globally, managing over 50 airports [1] - The company operates in a sector characterized by significant uncertainties, impacting its performance and outlook [1] Group 2 - The analysis focuses on fundamental aspects, aiming to identify undervalued stocks with growth potential [1]

Core Insights - Corporación América Airports S.A. reported a 10.2% year-on-year increase in passenger traffic for August 2025, indicating strong growth in the aviation sector [1] Passenger Traffic Highlights - Domestic passengers reached 3,963 thousand in August 2025, up from 3,590 thousand in August 2024, reflecting a 10.4% increase [1] - Year-to-date (YTD) domestic passengers for 2025 totaled 29,020 thousand, compared to 26,589 thousand in 2024, marking a 9.1% increase [1] Cargo Volume and Aircraft Movements - The report includes statistics on cargo volume and aircraft movements, although specific figures were not detailed in the provided excerpt [1]