Armenia International Airports CJSC, a subsidiary of Corporación América Airports S.A., has obtained a 35-year extension to its concession agreement for the operation of Zvartnots and Gyumri Shirak International Airports in Armenia, according to an official press release.

The amendment, negotiated with Armenia’s government, extends the initial 2001 concession until December 31, 2067, with provisions for potential further extensions subject to mutual agreement.

Under the revised terms, AIA is required to submit a new Master Plan by January 31, 2026. This plan mandates a $425 million capital investment program to be completed by 2033, aimed at infrastructure development, operational enhancements, and long-term capacity improvements at Zvartnots International Airport.

The amendment also implements significant modifications to the economic structure of the concession, transitioning from the former single-till model to an inflation-based framework that permits annual tariff adjustments beginning in April 2027. Additionally, the agreement introduces mechanisms for economic equilibrium rebalancing, offering compensation in the event of force majeure, reductions in passenger traffic, regulatory changes, or other sanctioned investments.

Corporación América Airports manages a portfolio of fifty-two airports across six countries in Latin America and Europe, accommodating 86.7 million passengers in 2025—a 9.8% increase compared to the prior year.