Why Shares of Corporacion America Airports Are Soaring Today

Lou Whiteman, The Motley Fool
·2-min read
Why Shares of Corporacion America Airports Are Soaring Today

Shares of Corporacion America Airports (NYSE: CAAP) gained more than 50% on Tuesday morning after the airport operator announced a 10-year extension to operate airports in Argentina. Airports in Argentina represent a significant portion of CAAP's overall portfolio, and investors are breathing a sigh of relief in sending the shares higher. With travel demand down, so too is airport revenue, leading airport owners and operators to rethink spending plans.