Corporación América Airports Receives $91.2M Arbitration Award Payment from Peru

summarizeSummary

Corporación América Airports announced that its indirectly held joint venture, Kuntur Wasi, received a US$91.2 million arbitration award payment from the Government of Peru, resolving a long-standing dispute.

check_boxKey Events

• Arbitration Award Payment Received

  Sociedad Aeroportuaria Kuntur Wasi S.A., in which CAAP holds an indirect 50% equity interest, received a payment of US$91,205,056 from the Republic of Peru.

• Resolution of Concession Dispute

  The payment relates to a final award issued by the ICSID Arbitral Tribunal, arising from the arbitrary termination of the concession agreement for the new Chinchero International Airport.

• Significant Cash Inflow

  CAAP's indirect share of the award is approximately US$45.6 million, which will be reflected in the Company's financial statements.

auto_awesomeAnalysis

The receipt of this significant arbitration award payment, stemming from an arbitrary termination of a concession agreement, provides a substantial cash inflow to Corporación América Airports. With its 50% indirect equity interest in Kuntur Wasi, CAAP's share of the award is approximately $45.6 million. This resolution removes a legal overhang and strengthens the company's financial position, reflecting a positive outcome from international arbitration.