The Government of Uruguay has granted Corporación América Airports S.A. (CAAP) extension of its concession term in the Punta del Este Airport. By the Resolution No. 1351/2019 released by Uruguayan Executive Power, the government has approved the amendment of the concession agreement with CAAP’s fully-owned subsidiary Consorcio Aeropuertos Internacionales S.A., which operates and maintains the airport located in the city of Maldonado, by Punta del Este, Uruguay. The resolution also authorizes the Ministry of Defense to grant the modification of the aforementioned contract.

The terms of the extension of Punta del Este Concession Agreement specify a minimum annual concession fee of US$500,000 and incremental capital expenditures amounting to approximately US$35.0 million, including the construction of a new general aviation terminal building, repaving of runways and taxiways, remodeling of boarding areas and a new VIP lounge, implementation of technology and innovation to improve the passenger experience. The amendment extends the term of the Punta del Este Concession Agreement for a fourteen–year period from 2019 through 2033.