We are a leading private airport operator in the world, currently operating 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2021, our airports served 35.7 million passengers, 57.6% lower than the 84.2 million served prior to the pandemic, in 2019, of which approximately 23% were international, 63% were domestic and 14% were transit passengers. The airports we operate are located in countries with compelling macro-economic trends and in key cities within those countries.
From our beginnings in 1998 when we acquired the concession rights to operate 33 airports in Argentina, we have expanded geographically and currently operate 53 airports globally; in Latin America, our largest market, as well as in Armenia and Italy. We operate some of the largest and most important airports in the countries where we are present; including large international airports, such as Ezeiza Airport in Argentina, domestic airports, such as Brasilia Airport in Brazil, airports in tourist destinations, such as Galapagos Ecological Airport in Ecuador and Florence Airport in Italy, as well as mid-sized domestic airports. We acquired most of our airport concessions through a public tender process and we, generally, improved the infrastructure significantly through large capital investments.
We derive revenue from aeronautical and commercial services. The key driver of revenue is passenger traffic, as increased passenger traffic allows us to generate both aeronautical and commercial revenue. We derive the majority of our revenue from fees charged to departing passengers and landing and parking fees charged to aircraft operators for the use of our premises and for certain aeronautical services. We also earn revenue from commercial services, including warehouse usage, duty free, retail and food and beverage shops, advertising and parking fees.
We have created a global platform with operational expertise and resources to support our organic growth plan and our global expansion strategy.
LEVERAGE OUR SCALABLE PLATFORM
We have developed a global platform with deep operational expertise and resources to support our organic growth plan and our global expansion strategy. To manage our current assets, we employ teams across architecture, aeronautical and commercial activities, corporate and project finance, accounting, legal and government affairs. Our size and scale allow us to maintain these resources in-house, thereby allowing us to address opportunities quickly and efficiently and provides a competitive advantage. We will continue to seek additional attractive airport concessions both in our current markets and new markets where we can leverage our experience and local market knowledge. We also look for opportunities globally where we see markets that are under-served and where we can also leverage our competitive operational strengths.
DRIVE REVENUE GROTH IMPROVING OUR MIX AIRLINE CUSTOMERS AND ROUTES
We undertake continuous and detailed analysis of our aviation markets in order to add new routes and increase frequencies. Furthermore, we maintain long-standing relationships and active dialogues with all major airlines and airline alliances operating at our airports. We also analyze developments in aviation technology as new generations of airplanes with greater ranges that allow for new routes are introduced to the market.
MAXIMIZE REVENUE GROWTH IN EXISTING CONCESSIONS THROUGH CAPITAL EXPENDITURE PROGRAMS
We continuously look for opportunities to increase our revenue in strategic locations by developing new infrastructure. We have the ability to increase air traffic demand through the construction, expansion and remodeling of terminals, platforms, runways and taxiways. The construction, expansion and remodeling of our terminals also serves to increase our commercial revenue by adding new areas for duty free shops, retail stores, restaurants, and more.
IMPROVE OPERATING EFFICIENCY AND REDUCE COSTS
We work closely with the airlines using our airports to maximize operational efficiency, minimize time on the ground and avoid flight delays. Also, as a result of our extensive experience operating airports of different types in diverse locations, we have developed a set of best practices and KPIs which can be shared across our current portfolio of airport concessions. In addition, we continuously monitor costs to identify reduction opportunities.
AIRLINES AND ROUTES
EFFICIENT CAPITAL INVESTMENT PLANNING
EXPERIENCED GOVERNMENT AFFAIRS