Corporación América Airports (CAAP) reported continued passenger growth across its airport portfolio in March 2026, with international traffic once again outperforming domestic markets across much of the group’s Latin American network. The operator handled 7.44 million passengers during the month, up 5.5% year-on-year, while first-quarter traffic reached 21.8 million passengers, representing a 7% increase compared to the same period in 2025.
Beyond the headline figures, CAAP’s latest traffic results provide a revealing snapshot of how air connectivity patterns continue evolving across Latin America: stronger cross-border demand, growing relevance of secondary hubs, expanding low-cost activity and increasingly selective domestic markets.
For a group operating airports across Argentina, Brazil, Uruguay and Ecuador — alongside assets in Italy and Armenia — the March numbers illustrate how regional and international connectivity is becoming increasingly central to traffic growth strategies.
International traffic continues outperforming domestic demand
The strongest signal in CAAP’s March results remains the widening gap between international and domestic traffic performance.
International passenger traffic increased by 12.2% year-on-year across the group, while domestic traffic declined by 2.4%. Transit passengers also increased sharply by 25.6%, reflecting stronger connecting flows across several airports in the portfolio.
That dynamic was especially visible across Latin America.
Argentina, still CAAP’s largest operating market, recorded a 15.6% increase in international traffic despite a 4.3% decline in domestic passengers. Overall traffic still grew 2.7% year-on-year, supported by strong regional and outbound demand. According to the company, low-cost and regional operators including JetSMART, Flybondi, Copa, Arajet and LEVEL contributed to the international growth environment. Rio de Janeiro, Santiago and São Paulo ranked among the strongest international destinations during the month.
The figures highlight how regional South American connectivity continues recovering faster than some domestic segments, particularly on high-density leisure and VFR (visiting friends and relatives) corridors linking Argentina with Brazil and Chile.
A similar pattern appeared in Ecuador, where international traffic increased by 13.7% despite persistent security concerns in the country. CAAP specifically pointed to strong performance on European routes, while elevated airfares continued weighing on domestic demand.
Uruguay also remained heavily driven by international flows. Passenger traffic increased 7.6% year-on-year following a strong summer season supported by additional frequencies and temporary routes. Among the developments highlighted by CAAP was Azul’s launch of a Montevideo–Belo Horizonte service operating twice weekly — another example of secondary regional routes gradually expanding across South America.
Secondary hubs continue strengthening their role
One of the most significant trends visible in CAAP’s March data is the growing importance of secondary hubs and decentralized connectivity models across Latin America.
In Brazil, Brasília recorded 12.2% total passenger growth, while transit traffic surged 29.9% year-on-year. CAAP linked part of that performance to a rebound in corporate demand following Carnival, but the figures also reinforce Brasília’s growing role as an intra-Brazilian connecting platform outside the country’s traditional coastal gateways.
In Argentina, Córdoba delivered some of the strongest growth figures in the network:
- +21.1% total passenger traffic;
- +64.8% international traffic;
- +14.9% aircraft movements.
The airport continues positioning itself as a stronger international alternative beyond Buenos Aires, reflecting a broader regional trend in which airlines increasingly diversify capacity toward secondary metropolitan markets.
Even Montevideo’s recent route additions fit within that same pattern. Rather than relying exclusively on major continental hubs, airlines across the region continue exploring thinner point-to-point international services capable of supporting tourism, diaspora traffic and regional business flows.
Domestic markets remain more uneven
While international traffic remained robust across much of the network, domestic markets showed more fragmented performance.
In Argentina, CAAP attributed the domestic slowdown primarily to capacity reductions from Aerolíneas Argentinas and Flybondi, partially offset by increased activity from JetSMART.
Several Argentine domestic airports recorded declines during March, including Iguazú (-11.8%), Jujuy (-23.5%) and Río Gallegos (-28.2%).
The figures underline a broader operational reality across several Latin American markets: domestic recovery is no longer moving uniformly. Airline fleet allocation, yield management, operating costs and pricing sensitivity are increasingly shaping where capacity is deployed.
Brazil showed a comparatively more stable domestic environment, while Ecuador’s domestic market continued facing pressure from higher fares despite positive overall traffic growth.
Cargo and operations show a more mixed environment
Passenger growth across the network was not fully mirrored by cargo performance.
Excluding Argentina, cargo volumes increased by 3.5% year-on-year, although performance varied significantly between countries. Armenia and Brazil recorded strong double-digit growth, while Italy, Uruguay and Ecuador posted declines.
Aircraft movements across the network increased by 3.3%, with Argentina, Brazil and Italy accounting for more than 80% of total movements during March.
A portfolio increasingly shaped by cross-border connectivity
CAAP’s March 2026 traffic results ultimately show how international and regional connectivity are becoming increasingly central to growth across its airport portfolio.
While domestic markets remain exposed to airline restructuring, pricing pressure and local economic conditions, cross-border demand continues supporting traffic expansion across several Latin American operations.
The March figures also suggest that the region’s connectivity map continues evolving beyond traditional primary gateways alone. Secondary hubs, regional international routes and low-cost network expansion are playing a growing role in shaping traffic flows across CAAP’s portfolio — particularly in South America’s increasingly diversified aviation landscape.
