CCR Airports is Benefiting from Strong Signs of Recovery in its Latin American Markets

Justin Lee

Singapore

July 10, 2021

Aeropuerto de Quito

The CCR Group is a Brazil-based company primarily engaged in the operation of highways. It is listed in the B3, Brazil’s second largest stock exchange. Its largest shareholders are the Marcondes Penido Family (15.0%), the Egydio De Souza Aranha Family (14.9%), and Andrade Gutierrez SA (14.9%).

Source: Flickr

The Company’s activities are divided into five business segments: Highways, Passenger Transportation, Sea Transportation, Airports and Services. CCR Airports is responsible for the management and operation of airports through investments in various concessionaires

  • BH Airport (Belo Horizonte International Airport)
  • Corporacíon Quiport (Quito International Airport, Ecuador)
  • Aeris (Juan Santamaría International Airport, Costa Rica)
  • CAP (Curaçao International Airport, the Netherlands Antilles)
  • TAS (Total Airport Services, in the United States of America)

Source: Wikimedia Commons

Quite recently, in April 2021, CCR has also added to its airport investment portfolio a total of 15 airports in Brazil from a public auction. CCR will operate nine airports in south Brazil, for which it bid BRL 2.1bn, and six in the central region, with a BRL 754mn bid. Nevertheless, social distancing policies as well as restrictions on the movement of people imposed by the governments around the world due to the COVID-19 pandemic resulted in year-on-year declines in passenger traffic, including those airports managed by CCR-owned concessionaires.

For CCR, gross revenues from its airport segment fell by 5.7% from BRL 1.136bn to BRL 1.071bn in 2020. At Curaçao International Airport, passenger departures fell by 60.9% from 688,000 in 2019 to 269,000 in 2020. Gross revenues from Curaçao Airport Partners fell by 43.7% from BRL 169.1mn to BRL 95.2mn in 2020.

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