Record Passenger Traffic and Revenue Growth
Passenger traffic increased by more than 9% with Italy and Armenia reaching historical records. Argentina recorded double-digit growth in both international and domestic travel. Revenue growth outpaced traffic, rising 17% in the quarter.
Historic Adjusted EBITDA Growth
Adjusted EBITDA increased 34% to $194 million, marking a new record for the company. The margin expanded over five percentage points.
Strong Cargo Revenue Performance
Cargo revenues increased by 20% year-over-year, driven by a 23% increase in Argentina and double-digit growth in Brazil and Uruguay.
Robust Financial Position
The company ended the quarter with a total liquidity position of $661 million, up 26% from year-end 2024, and a net leverage ratio of 0.9 times.
Inorganic Expansion Opportunities
Signed an award agreement for the Baghdad Airport project in Iraq and continued evaluation for Angola and Montenegro tenders.