Corporacion America Airports Revises Ecuador Airport Concession

MT Newswires Live01-27

Corporacion America Airports (CAAP) said Tuesday its Galapagos unit has signed an addendum to the Seymour Airport concession in Ecuador, extending the contract by six years and adjusting fees and investment terms.

The company said the revised agreement for the airport on Baltra Island runs through December 2032 and was negotiated to restore the concession's financial balance after the effects of the COVID-19 pandemic.

The amendment includes higher passenger charges, changes to the timing of capital spending and provisions to periodically review the concession's financial framework with the authorities, Corporacion America said.

The company said the terminal use charge will rise by $5.20 to $31.18 per passenger, with annual adjustments under the contract.

The company said its unit, Aeropuertos Ecologicos de Galapagos, may repave the runway in the second half of 2031 if a technical review scheduled for 2029 shows the work is required, with spending capped at $4 million, including VAT.

The agreement also allows for biennial reviews and potential renegotiation if external events disrupt the concession's financial balance, Corporacion America said.

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