Odinsa’s Airports are Close to an Exit from the COVID19 Pandemic

Justin Lee

Singapore

February 12, 2023

1024px Aeropuerto Bogota

The two Odinsa-operated airports – El Dorado in Colombia and Quito in Ecuador – saw a recovery from the COVID-19 pandemic in 2022.

In Colombia, the reopening of the Air Shuttle (Terminal 2) in December 2021 allowed the El Dorado International Airport operation in Bogotá to be reactivated at a 100% utilization rate. El Dorado International Airport handled 35.5 million passengers in 2022, which was 44.8% more than the number of passengers handled in 2021.

More importantly, El Dorado International Airport displaced Brazil’s São Paulo Guarulhos International Airport as the second busiest airport in Latin America and the Caribbean in 2022, which was a historic achievement for the former.

Opain's financial results for the full-year of 2022 have not been released, but its financial performance for the 9 months ended September 2022 show that the year-on-year improvement in passenger traffic during the same period have been translated into a strong improvement in revenues, which at COP1tn, were 105% higher than the COP525bn generate in the 9 months ended September 2021. 

Traffic and Financial Performance Opain

© Odinsa Financial Results

In Ecuador, Quito Mariscal Sucre International Airport recorded more than 4.3 million passengers transported on domestic and international flights during 2022. Thus, compared to 2019 traffic, which was more than 5 million passengers, the recovery is 86.4%.

Following the strong recovery at Quito, Quiport released a statement that expressed confidence that the airport would surpass its 2019 passenger numbers in 2023.

Just as in the case of Opain, the improved passenger traffic performance over the 9 month period ended September 2022 was translated into a strong improvement in revenues for Quiport. In this period, Quiport generated US$111mn in revenues, a 44% increase compared to that generated in the same period in 2021.

Traffic and Financial Performance Quiport

© Odinsa Financial Results

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