A Future in Construction for Argentina's Skies
Argentina's airport infrastructure is at a pivotal moment of transformation. An ambitious construction plan exceeding USD 600 million to modernize 35 terminals nationwide promises to revolutionize connectivity, though it awaits the finalization of its contractual framework to begin execution.
The plan, driven by the concessionaire Aeropuertos Argentina (controlled by Corporación América, owned by businessman Eduardo Eurnekian), aims to respond to the historic growth in air traffic. In 2025, the country registered a record 50.6 million passengers, a 12% increase from 2024, with Aeroparque approaching 18 million and Ezeiza close to 12 million annual travelers.
Why Are the Works on Hold?
The core of the delay lies in the review of the Financial Projection of Income and Expenses (PFIE), a contract mechanism designed to rebalance the economic equation after the impact of the pandemic. Although in 2020 the concession (originally signed in 1998) was extended until 2038, the company sought a horizon extending to 2056 to secure long-term external financing.
In 2025, a pre-agreement was signed with the then-head of ORSNA (the Regulatory Body for the National Airport System), Facundo Leal. However, following investigations that led to Leal's departure, the current president of ORSNA, Noelia Ruiz, formalized the nullification of that draft, restarting negotiations alongside the Secretary of Transportation.
Financial Strength: Fertile Ground for Negotiation
The great news is that Aeropuertos Argentina enters negotiations with a very healthy financial standing. According to financial statements for the first half of 2026 filed with the CNV (Argentina's securities regulator), the company achieved:
- Net profit: ARS 168,859 million (72% higher than the same period in 2025).
- Debt reduction: From ARS 908,107 million to ARS 736,984 million.
- Equity: Reached ARS 1.97 trillion.
These indicators significantly strengthen the company's position to carry out the required investments sustainably.
The Works Awaiting the Green Light
The current investment fund covers USD 50 million annually until 2028, but this margin is reaching its limit. The most urgent projects that would be activated include:
Ezeiza
Expansion and modernization of the arrivals area, vital for international flow.
Aeroparque
Remodeling of the international sector to accommodate its record of nearly 18 million passengers.
Mendoza
Terminal expansion to boost tourism and connectivity with the west of the country.
Resolving this matter will not only unlock immediate works but will also set a precedent on legal security and the government's rules for major infrastructure concessions. With an 'open skies' policy that already added 57 new routes in 2025, the commercial aviation future looks highly promising and poised for continued growth.
Sources: Infobae, iProfesional, Noticias Argentinas.