Corporación América Airports (CAAP) has extended the concession for Seymour Airport on Baltra Island, Galápagos, to December 31, 2032. The addendum adds six years to the original term and raises the Terminal Use Charge (TUC) by $5.20 per passenger, bringing the new TUC to $31.18. The agreement also revises investment commitments and rebalances the economic and financial equilibrium that was disrupted by the COVID‑19 pandemic.
The addendum commits CAAP to a maximum of $4 million, including VAT, for potential runway repaving works scheduled for the second half of 2031. A technical study to assess runway condition will be conducted in 2029, ensuring that the airport’s infrastructure remains safe and capable of handling future traffic growth. The concession also incorporates sustainability milestones: Seymour Airport has operated carbon‑neutral flights since 2017 and recently earned Level 4+ certification under the Airport Carbon Accreditation program, underscoring its leadership in environmental stewardship.
Passenger traffic at Seymour Airport reached 86.7 million in 2025, a 9.8% increase from 79.0 million in 2024, reflecting the island’s growing appeal as a tourist destination. CAAP’s overall performance mirrors this trend, with consolidated revenue of $1.843 billion for the year ended December 31, 2024 and a 25.19% growth over the last twelve months. The company’s current ratio of 1.53 indicates solid liquidity, and its portfolio of 52 airports across six countries positions it well to capitalize on regional travel demand.
The extension strengthens CAAP’s strategic foothold in Ecuador, a key market in Latin America, and enhances its broader portfolio in both Latin America and Europe. By securing a longer revenue stream, CAAP can better plan capital expenditures, maintain service quality, and invest in sustainability initiatives without the uncertainty that a shorter concession would entail. The rebalancing of charges and investment timelines also restores profitability that was eroded during the pandemic, positioning the company for steady growth in the post‑COVID era.
CEO Martín Eurnekian emphasized that the addendum “reflects the confidence in our operating capabilities and in the results we delivered at Seymour Airport. It also recognizes the progress achieved in sustainability, including the airport’s carbon‑neutral operations since 2017 and its recent achievement of Level 4+ certification under the Airport Carbon Accreditation program. These milestones reinforce the long‑term framework under which we continue to operate the concession.” The statement highlights CAAP’s commitment to operational excellence and environmental responsibility, reinforcing investor confidence in the company’s long‑term strategy.
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