Argentina Airport Concession Extended to 2049, or 2056 for US$600m
ARGENTINA · INFRASTRUCTURE
Key Facts
- —The country Argentina, a country of about 46 million people, is South America’s second-largest economy. Most of its air travellers pass through a single private operator.
- —The background Aeropuertos Argentina, controlled by the Eurnekian family’s Corporación América, has run 35 of the country’s airports since 1998. Clarín puts its share of air traffic at about 90 percent.
- —Why now The concession was due to end in 2038. After the pandemic emptied its terminals, the company sued the state in 2023 and the two sides renegotiated.
- —What happened On 28 September the Official Gazette published the government’s approval of a deal signed on 1 September. The concession now runs to 13 February 2049.
- —The numbers Seven more years, to 2056, depend on US$600 million of extra investment at Ezeiza, Buenos Aires’ international airport. Three quarters of the works must be finished by the end of 2031.
- —What it means for you The same operator will run Ezeiza, Aeroparque and most regional airports until at least 2049. The government says it chose a longer term over higher fees.
- —Still open The list of works and their timetable have not been made public, and the announcement did not say whether airport charges will change. The company has not commented on the terms.
Argentina has formally extended the concession of Aeropuertos Argentina, which runs Buenos Aires’ two main airports and 33 others. The Argentina airport concession, due to expire in 2038, now runs to at least 2049.
It can run to 2056 if the company proves by mid-2027 that it has US$600 million ready for new works at Ezeiza. The approval appeared in the Official Gazette on Monday, 28 September.
What the government approved
The instrument is Administrative Decision 27/2026, signed by Cabinet Chief Diego Santilli and Economy Minister Luis Caputo. It approves a “contract readjustment agreement” signed on 1 September by the company and ORSNA, the national airports regulator.
The agreement extends the concession to 13 February 2056, but only part of that is unconditional.
If the company misses either of two conditions, it ends on 13 February 2049. ORSNA decides whether they were met.
First, a major audit firm must certify by 30 June 2027 that the company has US$600 million for new works, tax included. Second, 75 percent of those works must be finished before 31 December 2031.
According to the approving text, the US$600 million is earmarked for Ezeiza, the international airport outside Buenos Aires. For scale, it roughly matches the US$606 million programme attached to the last extension, in 2020, which the company has nearly completed.
2049, 2056 or 2066?
On 7 September the business daily Ámbito Financiero reported a signed agreement running to 2056, with an option to 2066. At the time the government had not confirmed it, and no decree existed.
The document Ámbito described appears to be the 1 September agreement now approved.
The official text confirms 2056 as a conditional ceiling, with 2049 as the firm date. The approving decision mentions no option to 2066.
According to La Nación, the 2066 option came from an earlier draft negotiated under ORSNA’s previous leadership.
The official text says the regulator’s board voided a preliminary agreement signed on 26 September 2025. On 10 June 2026 it ordered talks to continue on new terms.
Why the contract was reopened
The government’s case rests on the pandemic.
International traffic at the concession’s airports fell 76 percent in 2020 and 86 percent in 2021, against 2019. Revenue dropped 60 percent in one year.
The slump also cut public money. The operator pays 15 percent of its revenue into a state fund for airport works, Clarín reports.
The renegotiation used the Ley de Bases, a 2024 reform law.
It lets the parties rebalance a concession’s finances after extraordinary shocks. Its implementing rules allow longer terms, higher fees or less investment as remedies.
The Transport Secretariat, led by Mariano Plencovich, said higher fees or less investment would have hurt users more than a longer term. La Nación noted that this alone does not show airport charges are frozen.
What each side gave up
The deal is built on a reference internal rate of return of 14.3 percent, a yardstick for the company’s expected profit. The government says it is not a guaranteed return, and that the company had sought close to 17 percent.
By the government’s account, the company first asked for 40 more years, to 2078, without a minimum investment commitment. It also sought access to RIGI, Argentina’s tax and customs incentive regime for large investments, which it did not get.
The company must drop the lawsuit it filed in 2023 over the pandemic losses. Both sides waive further claims for anything before the agreement, with a narrow exception for some past investment reviews.
Aeropuertos Argentina told La Nación the talks had been “intense” but declined to comment on the terms published by the government.
Why the president stayed out
President Javier Milei did not sign.
In Decree 1074/2026, published the same day, he recused himself from all matters involving the company. He cited his professional ties to Corporación América before he entered public office.
That recusal is why the approval came as a decision by the cabinet chief rather than as a presidential decree. The decision cites the recusal and the cabinet chief’s powers under the law on ministries.
What comes next
The first test is 30 June 2027, when the company must show the funds for Ezeiza. The second is the end of 2031, when three quarters of the works must be done; ORSNA will judge both.
The approval does not guarantee the same operator until 2056, and it brings no new tender or immediate change for passengers. What it settles is who runs Argentina’s main airports for at least the next two decades.
According to La Nación, the government has not yet released the list of works. That list will show when building starts and how progress is checked.
The deal fits a wider privatisation push, including 3,900 km of national highways handed to private firms. It also fits Caputo’s wider investment agenda.
Frequently Asked Questions
Who runs Argentina’s airports?
Most of them are run by Aeropuertos Argentina, formerly Aeropuertos Argentina 2000, part of Eduardo Eurnekian’s Corporación América group. It operates 35 airports, including Ezeiza, Aeroparque and Córdoba, under a concession held since 1998.
Until when does the Argentina airport concession now run?
Until 13 February 2049 for certain, and until 13 February 2056 if the company proves by 30 June 2027 that it can fund US$600 million of works at Ezeiza and completes 75 percent of them by the end of 2031.
Will airport fees go up because of the deal?
The government says it chose a longer term instead of raising fees. Its announcement did not say whether airport charges will change, so no effect on fares can be confirmed yet.
Why did President Milei not sign it?
He recused himself by decree because he worked for Corporación América before entering politics. The approval was signed by Cabinet Chief Diego Santilli and Economy Minister Luis Caputo instead.
Sources: Boletín Oficial, Decisión Administrativa 27/2026, 28 September 2026, Boletín Oficial, Decreto 1074/2026 (presidential recusal), 28 September 2026, La Nación, 28 September 2026, Infobae, 28 September 2026, Clarín, 28 September 2026, Noticias Argentinas, 28 September 2026, Ámbito Financiero, 7 September 2026. Government terms (return rate, the company’s original requests) are from the Transport Secretariat’s statement as reported by La Nación and Infobae. All retrieved 28 September 2026.
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