CAAP Announces Agreement to Extend for 10-Years Until 2038 the Aeropuertos Argentina 2000 Concession

LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), (“CAAP” or the “Company”), the largest private sector airport concession operator in the world by number of airports, announced today that at a signing ceremony that took place at the office of the President of the Republic of Argentina Dr. Alberto Fernandez, Aeropuertos Argentina 2000 S.A. (“AA2000”) represented by its Chairman Martín Eurnekian and the Organismo Regulador del Sistema Nacional de Aeropuertos (“ORSNA”) represented by its Chairman Carlos Pedro Lugones Aignasse signed an agreement to extend the AA2000 concession (the “Concession Agreement Extension”) for a ten-year period from 2028 to 2038, as provided for under the existing concession agreement. This extension is part of an agreement entered by AA2000 and ORSNA with an aim to mitigate the impact of COVID19 in its operations and further includes the commitment by AA2000 of incremental capital expenditures of approximately US$500 million to be undertaken between 2022 and 2027 for expansion projects. The Concession Agreement Extension is subject to the issuance of a Presidential Decree as is customary in processes like this one.

Mr. Martín Eurnekian, CEO of Corporación America Airports, noted: “I am pleased to announce the extension for an additional ten years of the AA2000 Concession Agreement, the major airport network in Argentina that we have been successfully operating since 1998. This is a significant milestone for our Company that strengthens AA2000’s long-term sustainability. The additional investments we have agreed to undertake are manageable and will enable us to continue expanding and enhancing infrastructure in Argentina, including airport security, safety as well as the overall passenger experience, as we have done over the past 20 years.”

Read full article via: businesswire.com