Corporación América Airports S.A. (CAAP), one of the world’s leading private airport operators, posted robust growth in passenger traffic for July 2025, signaling a notable rebound in the aviation sector across Latin America and Europe. The company, which is listed on the New York Stock Exchange under the ticker “CAAP,” reported an 8.2% year-on-year increase in total passenger traffic, as announced in its August 21, 2025, press release. This uptick reflects a dynamic recovery, driven by both domestic and international travel, and paints a complex picture of regional trends, airline strategies, and the lingering effects of global challenges.
According to Business Wire, domestic passenger traffic rose by 9.0% year over year, with Argentina, Brazil, Italy, and Ecuador leading the charge. International traffic also contributed significantly, growing by 7.2% compared to July 2024. All CAAP’s operating countries posted positive international growth, except Uruguay, which experienced a contraction. The numbers reveal a sector that, while still facing pockets of turbulence, is largely on the mend after years of pandemic-induced volatility.
Argentina emerged as the standout performer, accounting for over 70% of CAAP’s total traffic growth in July. The country saw total passenger traffic surge by 11.4% year on year, with domestic traffic up 9.9% and international traffic soaring by 13.2%. This remarkable growth is attributed to both airline expansion and increased route offerings. JetSMART, for instance, continued to gain market share by adding another Airbus A321neo to its fleet, bringing its total to 17 aircraft, each capable of carrying 230 passengers. Aerolíneas Argentinas also played its part, launching the Córdoba–Esquel route and integrating a new Boeing 737 MAX 8 as part of its ongoing fleet modernization plan.
The international scene in Argentina was equally lively. LATAM ramped up its Córdoba–Lima connection to ten weekly flights, initially on a seasonal basis, while JetSMART inaugurated the Buenos Aires–Recife route with four weekly flights. GOL, another major player, resumed its seasonal service from São Paulo to Bariloche, offering three weekly flights. However, operations at Buenos Aires’ Aeroparque and Ezeiza airports were briefly disrupted by adverse weather on July 8, a reminder that the industry remains at the mercy of unpredictable elements.
Italy, another key market for CAAP, posted a 6.5% year-on-year increase in passenger traffic. The growth was largely fueled by Ryanair’s decision to increase flight frequencies, particularly benefiting Pisa and Florence airports. International traffic, which made up more than 80% of Italy’s total, rose by 5.9%. Florence Airport was a bright spot, with a 12.4% rise in international travelers, while Pisa saw a more modest 2.1% gain. Domestically, traffic climbed 8.2%, though Florence experienced a slight dip of 3.3% in this segment, partially offset by Pisa’s robust numbers.
Brazil also demonstrated resilience, recording a 6.0% year-on-year rise in total passenger traffic. Domestic travel, which comprised nearly 60% of the total, increased by 7.8%. Transit passengers edged up by 2.7%, and international traffic, though representing only 6% of the total, jumped by 10.0%. According to Business Wire, these improvements came despite persistent challenges in Brazil’s aviation environment, including ongoing aircraft constraints. Notably, Azul, the São Paulo-based airline, reported encouraging trends in revenue generation and passenger capacity during the second quarter of 2025. The company benefited from a stronger Brazilian real and fewer operational disruptions from severe weather, a welcome change as it navigates Chapter 11 bankruptcy.
Uruguay, in contrast, faced headwinds. Total passenger traffic declined by 5.5% year on year, a setback attributed to the removal of JetSMART’s Montevideo–Buenos Aires route and several days of adverse weather that led to flight cancellations. Azul Linhas Aéreas attempted to boost connectivity by inaugurating a new direct route between Montevideo and Campinas, offering five weekly flights, but these efforts were not enough to offset the broader decline.
Ecuador presented a mixed picture. While overall passenger traffic remained flat compared to July 2024, domestic traffic managed a 2.1% year-on-year increase. International traffic, however, slipped by 0.7%, mainly due to reduced operations to the U.S. High airfares continued to dampen travel demand, and security concerns persisted, adding another layer of complexity to the market’s recovery.
Armenia stood out for its steady growth, with passenger traffic increasing by 6.8% year on year. The country’s aviation sector benefited from the arrival of new airlines, additional routes, and increased flight frequencies. Wizz Air played a pivotal role, announcing the opening of a new base at Yerevan’s Zvartnots Airport. The airline stationed two aircraft at the airport and launched eight new direct routes to Europe, further integrating Armenia into the continent’s air travel network.
Beyond passenger numbers, CAAP’s cargo operations also showed improvement, with overall volume rising by 2.1% compared to the previous year. Uruguay led the way with a 26.2% jump, followed by Armenia at 13.5% and Italy at 4.7%. Argentina posted a modest 0.7% gain, while Brazil and Ecuador saw declines of 0.7% and 13.2%, respectively. Notably, Argentina, Brazil, and Armenia accounted for nearly 80% of total cargo volume in July.
The number of aircraft movements—a key indicator of operational activity—grew by 6.4% year on year. Armenia led with an 11.4% increase, followed by Italy (9.0%), Argentina (6.8%), Ecuador (5.5%), and Brazil (4.0%). Only Uruguay saw a decline, with movements down 4.4%. Collectively, Argentina, Brazil, and Italy were responsible for more than 80% of total aircraft movements in July, underscoring their central role in CAAP’s network.
CAAP currently operates 52 airports across six countries—Argentina, Brazil, Uruguay, Ecuador, Armenia, and Italy. In 2024, the company served 79.0 million passengers, which was 2.7% below the 81.1 million passengers recorded in 2023 and 6.2% below pre-pandemic levels in 2019. While these numbers suggest that the industry has not fully rebounded to its former heights, the July 2025 figures offer reasons for optimism. The steady recovery in key markets, the introduction of new routes and aircraft, and the resilience of major airlines all point to an industry regaining its footing, even as it faces ongoing economic and operational challenges.
As the aviation sector continues to navigate shifting economic currents, weather disruptions, and evolving passenger preferences, the July 2025 data from CAAP and its airline partners provide a snapshot of both progress and persistent hurdles. For now, the skies appear a bit busier—and the outlook, at least for some regions, a bit brighter.
