Corporacion America Airport receives $91.21M ICSID arbitration award

Corporacion America Airport (CAAP)s announced that Sociedad Aeroportuaria Kuntur Wasi, in which CAAP holds an indirect 50% equity interest, has received payment of $91.21M from the Republic of Peru, pursuant to the final award issued by the International Centre for Settlement of Investment Disputes, or ICSID. The payment relates to the final award issued by the ICSID Arbitral Tribunal in May 2024 in the arbitration proceeding Sociedad Aeroportuaria Kuntur Wasi S.A. and Corporacion America S.A. v. Republic of Peru, arising from the termination by the Government of Peru of the concession agreement for the new Chinchero International Airport that, pursuant to the final decision of the ICSID Arbitral Tribunal, such termination was arbitrary, unjustified and without a well-founded reason of public interest. The receipt of the payment, after any associated taxes, costs, or expenses, will be reflected in the company’s financial statements in accordance with applicable accounting standards, considering CAAP’s indirect 50% equity interest in Kuntur Wasi.