Corporación América Airports (CAAP) 20-F/A 25 May 18 2017 FY Annual report (foreign) (amended) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document And Entity Information [Abstract]
Entity Registrant Name	CORPORACION AMERICA AIRPORTS S.A.
Entity Central Index Key	1,717,393
Trading Symbol	caap
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding	1,500,000,000
Document Type	20-F
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Continuing operations
Revenue (Notes 5)	$ 1,575,153	$ 1,366,336	$ 1,187,090
Cost of services (Notes 6)	(1,029,983)	(859,074)	(759,155)
Gross profit	545,170	507,262	427,935
Selling, general and administrative expenses (Notes 7)	(194,201)	(170,852)	(167,219)
Reversal of previous impairment/(impairment loss) (Notes 12)	3,065	(16,638)	0
Other operating income (Notes 8)	19,953	16,944	15,573
Other operating expense	(4,838)	(4,903)	(2,667)
Operating income	369,149	331,813	273,622
Share of loss in associates (Note 10,14)	(15,841)	(1,306)	(69,317)
Income before financial results and income tax	353,308	330,507	204,305
Financial income (Notes 9)	62,555	37,521	46,807
Financial loss (Notes 9)	(302,047)	(272,951)	(199,839)
Income before income tax expense	113,816	95,077	51,273
Income tax expense (Notes 11)	(46,925)	(56,359)	(44,969)
Income from continuing operations	66,891	38,718	6,304
Discontinued operations
(Loss) / Income from discontinued operations (Notes 29)		(9,478)	108,987
Net income	66,891	29,240	115,291
Attributable to:
Owners of the parent	63,491	33,759	105,490
Non-controlling interest	3,400	(4,519)	9,801
Net income	$ 66,891	$ 29,240	$ 115,291
Earnings per share attributable to the owners of the parent (Notes 30)
Weighted average number of ordinary shares (thousands) (in shares)	148,118	148,118	148,118
Continuing operations
Basic and diluted earnings per share (in dollars per share)	$ 0.43	$ 0.29	$ (0.07)
Discontinued operations
Basic and diluted earnings per share (in dollars per share)		(0.06)	0.79
Continuing and discontinued operations
Basic and diluted earnings per share (in dollars per share)	$ 0.43	$ 0.23	$ 0.71

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of comprehensive income [abstract]
Net income	$ 66,891	$ 29,240	$ 115,291
Items that will not be reclassified subsequently to profit or loss:
Remeasurement of defined benefit obligation	18	(307)	334
Items that may be subsequently reclassified to profit or loss:
Share of other comprehensive income from associates	432	(44)	(39,999)
Currency translation adjustment	(25,585)	(48,563)	(166,597)
Other comprehensive loss of continuing operations for the year, net of income tax	(25,135)	(48,914)	(206,262)
Currency translation adjustment from discontinued operations (Notes 29)		4,277	(4,277)
Other comprehensive income (loss) of discontinued operations for the year, net of income tax		4,277	(4,277)
Total other comprehensive loss for the year	(25,135)	(44,637)	(210,539)
Total comprehensive income /(loss) for the year	41,756	(15,397)	(95,248)
Attributable to:
Owners of the parent	34,926	1,477	(50,897)
Non-controlling interest	6,830	(16,874)	(44,351)
Total comprehensive income /(loss) for the year	$ 41,756	$ (15,397)	$ (95,248)

CONSOLIDATED STATEMENT OF FINAN

CONSOLIDATED STATEMENT OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-current assets
Intangible assets, net (Notes 12)	$ 2,818,354	$ 2,825,187	$ 2,610,703
Property, plant and equipment, net (Notes 13)	74,483	65,984	71,689
Investments in associates (Notes 14)	13,435	10,927	14,450
Other financial assets (Notes 19)	2,500	721	15,078
Deferred tax assets (Notes 15)	135,327	99,258	47,643
Other receivables (Notes 16)	173,393	118,074	117,291
Trade receivables (Notes 18)	4,244		51
Total non-current assets	3,221,736	3,120,151	2,876,905
Current assets
Inventories (Notes 17)	8,564	7,664	8,224
Other financial assets (Notes 19)	39,796	33,936	40,312
Other receivables (Notes 16)	183,062	137,207	56,901
Current tax assets	4,621	5,720	3,739
Trade receivables (Notes 18)	121,834	109,610	101,307
Cash and cash equivalents (Notes 20)	221,601	212,988	184,239
Total current assets	579,478	507,125	394,722
Total assets	3,801,214	3,627,276	3,271,627
EQUITY (Notes 24)
Share capital	1,500,000	20	20
Free distributable reserve	385,055	1,907,328	330,007
Currency translation adjustment	(217,300)	(188,721)	(156,731)
Legal reserves	2	2
Other reserves	(1,344,008)	(1,344,022)	248,677
Retained earnings	138,034	74,543	40,786
Total attributable to owners of the parent	461,783	449,150	462,759
Non-controlling interests	335,359	354,174	371,342
Total equity	797,142	803,324	834,101
Non-current liabilities
Borrowings (Notes 21)	1,113,655	965,672	960,316
Deferred tax liabilities (Notes 15)	148,301	144,393	145,777
Other liabilities (Notes 22)	1,006,792	1,049,448	847,301
Trade payables (Notes 23)	3,302	1,663	2,096
Total Non-current liabilities	2,272,050	2,161,176	1,955,490
Current liabilities
Borrowings (Notes 21)	372,790	141,569	127,250
Other liabilities (Notes 22)	209,486	347,307	226,572
Current tax liabilities	21,934	60,361	7,058
Trade payables (Notes 23)	127,812	113,539	121,156
Total current liabilities	732,022	662,776	482,036
Total liabilities	3,004,072	2,823,952	2,437,526
Total equity and liabilities	$ 3,801,214	$ 3,627,276	$ 3,271,627

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Share Capital	Free Distributable Reserves	Legal Reserves	Currency Translation Adjustment	Other Reserves	Retained Earnings	[1]	Total	Non-controlling interests	Total
Balance at Jan. 01, 2015	$ 20	$ 906			$ 1,178,534	$ (64,704)		$ 1,114,756	$ 351,809	$ 1,466,565
Shareholders contributions (Note 24a)		329,101			(320,798)			8,303		8,303
Refund of cash contributions (Note 24a)		0
Income / (loss) for the year						105,490		105,490	9,801	115,291
Other comprehensive (loss) / income for the year				$ (156,731)	344			(156,387)	(54,152)	(210,539)
Changes in non-controlling interests (Note 24d)									63,884	63,884
Changes in other reserves (Note 24b)					(609,403)			(609,403)		(609,403)
Balance at Dec. 31, 2015	20	330,007		(156,731)	248,677	40,786		462,759	371,342	834,101
Shareholders contributions (Note 24a)		1,577,321			(1,556,827)			20,494	9,018	29,512
Refund of cash contributions (Note 24a)		0
Income / (loss) for the year						33,759		33,759	(4,519)	29,240
Other comprehensive (loss) / income for the year				(31,990)	(292)			(32,282)	(12,355)	(44,637)
Changes in non-controlling interests (Note 24d)									(9,312)	(9,312)
Changes in legal reserves			$ 2			(2)
Changes in other reserves (Note 24b)					(35,580)			(35,580)		(35,580)
Balance at Dec. 31, 2016	20	1,907,328	2	(188,721)	(1,344,022)	74,543		449,150	354,174	803,324
Shareholders contributions (Note 24a)		6,600						6,600		6,600
Refund of cash contributions (Note 24a)		(28,893)						(28,893)		(28,893)
Conversion (Note 1)	1,499,980	(1,499,980)
Income / (loss) for the year						63,491		63,491	3,400	66,891
Other comprehensive (loss) / income for the year				(28,579)	14			(28,565)	3,430	(25,135)
Changes in non-controlling interests (Note 24d)									(25,645)	(25,645)
Balance at Dec. 31, 2017	$ 1,500,000	$ 385,055	$ 2	$ (217,300)	$ (1,344,008)	$ 138,034		$ 461,783	$ 335,359	$ 797,142
[1]	Retained Earnings calculated according to Luxembourg Law are disclosed in Note 25.

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Income from continuing operations	$ 66,891	$ 38,718	$ 6,304
Adjustments for:
Amortization and depreciation (Note 12,13)	138,130	122,882	72,247
Deferred income tax (Note 11)	(41,843)	(40,763)	(4,925)
Current income tax (Note 11)	88,768	97,122	49,894
Share of loss in associates (Note 10)	15,841	1,306	69,317
Reversal of previous impairment /(impairment loss) (Note 12)	(3,065)	16,638
Income/(Loss) on disposals of property, plant and equipment	3,210	21	(174)
Unpaid concession fees	44,159	40,548	32,130
Changes in liability for Brazil concessions (Note 9)	98,122	107,408	2,039
Interest expense (Note 9)	115,223	118,219	69,228
Other financial results, net	(28,955)	402	(3,538)
Loss on disposals of subsidiaries		897
Net foreign exchange (Note 9)	59,221	26,383	90,799
Other accruals	7,033	(3,196)	19,525
Acquisition of Intangible assets (Note 12,28)	(255,488)	(179,900)	(137,612)
Income tax paid	(105,716)	(20,083)	(50,555)
Changes in working capital (Note 28)	(250,953)	(153,830)	(171,086)
Net cash used in/ (provided by) operating activities	(49,422)	172,772	43,593
Net cash used in discontinued operating activities (Note 29)		(8,155)	(41,969)
Cash flows from investing activities
Net cash from acquisition of subsidiaries			(39,921)
Acquisition of/(cash contribution in) associates		10	(56,262)
Acquisition/capitalized construction expenses			(306)
Acquisition of other financial assets	(51,202)	(2,401)	(23,475)
Disposals of other financial assets	31,608	11,575
Purchase of Property, plant and equipment (Note 13)	(11,503)	(10,391)	(8,185)
Acquisition of Intangible assets (Note 12)	(1,664)	(848)	(386)
Net cash inflow on disposal of discontinued operations (Note 29)		10,381	34,033
Net cash inflow on disposal of subsidiaries/associates		6,988
Loans with related parties	(12,762)	20,261	3,026
Proceeds from sale of Property, plant and Equipment	175	269	5,097
Others	186
Net cash used in/ (provided by) investing activities	(45,162)	35,844	(86,379)
Net cash used in discontinued investing activities (Note 29)		(8,093)	(183,561)
Cash flows from financing activities
Proceeds from cash contributions (Note 24)	6,600	29,512	8,303
Refund of cash contributions (Note 24)	(28,893)
Proceeds from borrowings	594,439	52,099	286,839
Release of restricted cash	30,873
Loans paid (Note 21)	(250,276)	(142,693)	(157,120)
Interest paid (Note 21)	(106,953)	(48,564)	(38,334)
Guarantee deposit (Note 16)	(92,999)
Dividends distribution	(23,836)	(49,733)	(76,875)
Net cash provided by/ (used in) financing activities	128,955	(159,379)	22,813
Net cash provided by discontinued financing activities (Note 29)			196,727
Increase in cash and cash equivalents from continuing operations	34,371	49,237	(19,973)
Decrease in cash and cash equivalents from discontinued operations (Note 29)		(16,248)	(28,803)
Cash and cash equivalents
At the beginning of the year (Note 20)	182,116	153,889	217,133
Exchange rate income or (loss) on cash and cash equivalents	5,114	(4,762)	(14,468)
Increase in cash and cash equivalents from continuing operations	34,371	49,237	(19,973)
Decrease in cash and cash equivalents from discontinued operations		(16,248)	(28,803)
At the end of the year (Note 20)	$ 221,601	$ 182,116	$ 153,889

General information and corpora

General information and corporate reorganization	12 Months Ended
	Dec. 31, 2017
Disclosure Of General Information And Corporate Reorganization [Abstract]
General information and corporate reorganization	1 General information and corporate reorganization General Information Corporación América Airports S.A. (the “Company” or “CAAP”) is a holding company primarily engaged through its operating subsidiaries in the acquisition, development and operation of airport concessions. The Company and its operating subsidiaries are collectively referred to hereinafter as the “Group”. The Company was formed as a private limited liability company under the laws of the Grand Duchy of Luxembourg on December 14, 2012. The Company is ultimately controlled by Southern Cone Foundation (“SCF”), a foundation organized under the laws of the Principality of Liechtenstein. The address of its registered office is in Vaduz. The Group currently has operations in Argentina, Brazil, Uruguay, Armenia, Italy, Ecuador and Perú. Corporate Reorganization SCF’s airport business was historically conducted through a large number of entities as to which there was no single holding entity but which were separately owned by entities directly or indirectly controlled by SCF during all the periods presented. In order to facilitate the Company’s initial public offering, SCF completed a reorganization (the “Reorganization”) whereby, each of the operating and holding entities under SCF´s common control, were ultimately contributed to the Company (see Note 2J). Prior to the contribution of the businesses to the Company, certain initial preparatory steps were conducted whereby certain business activities were either transferred or sold between entities in several corporate reorganization steps under local laws. None of these reorganizations affected the common control structure of the entities forming the Group. Also, certain other SCF’s businesses activities were either sold or transferred to other companies and not contributed to the Company. The reorganization process was completed on December 22, 2016 with the contribution of the shares of American International Airports LLC, the holding company which directly and indirectly controls the airports in Armenia and Argentina, to CAAP. The contribution was made, in accordance with Luxembourg law, at its fair value of USD 1,506,867 at December 22, 2016 (Note 24). The Reorganization was accounted for as a reorganization of entities under common control for the interests in the contributed businesses which were contributed by the controlling shareholder. As such, the transactions were accounted for under the predecessor cost method. Under the predecessor cost method, the results and financial positions of the contributed businesses were combined and consolidated with and into the Company own operations as from January 1 st In addition, in connection with the initial public offering, the Company was converted on September 14, 2017, from a Luxembourg Limited Liability Company named A.C.I. Airports International S.à r.l. into a Luxembourg Corporation and changed its name to Corporación América Airports S.A. (the “Conversion”). In conjunction with the Conversion, all of the Company’s outstanding equity interests were converted into one billion five hundred million (1,500,000,000) shares of common stock which will be held by ACI Airports S.à r.l. (the “Shareholder”). In connection with the Conversion, Corporación América Airports S.A. will continue to hold all assets of ACI and will assume all of its liabilities and obligations. The main adjustment of the Conversion principally gave effect to the recognition of the share capital of Corporación América Airports S.A. for a total nominal value of USD 1,500 million (USD 1 per share) and the elimination of the shares of A.C.I. Airports International S.à. r.l. for a total amount of USD 20 thousands and of the Free distributable reserves for a total amount of USD 1,499.9 million. These consolidated financial statements have been approved for issuance by the Company on April 17, 2018.

Basis of presentation and accou

Basis of presentation and accounting policies	12 Months Ended
	Dec. 31, 2017
Disclosure Of Basis Of Preparation And Significant Accounting Policies [Abstract]
Basis of presentation and accounting policies	2 Basis of presentation and accounting policies A. Summary of significant accounting policies The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated. Basis of preparation The Group’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB) and the Interpretations of the International Financial Reporting Interpretations Committee (IFRIC) applicable to companies reporting under IFRS. The consolidated financial statements comply with IFRS as issued by the International Accounting Standards Board (IASB). Presentation in the consolidated statement of financial position differentiates between current and non-current assets and liabilities. Assets and liabilities are regarded as current if they mature within one year or within the normal business cycle of the Group, or are held for sale. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 2.F. Several balance sheet consolidated statements of final position and consolidated statement of income items have been combined in the interests of clarity. These items are stated and explained separately in the notes to the consolidated financial statements. The statement of income is structured according to the function of expense method (nature of the expenses is classified in notes). The consolidated financial statements are presented in thousands of U.S. Dollars unless otherwise stated. All amounts are rounded off to thousands of U.S. Dollars unless otherwise stated. As such, insignificant rounding differences may occur. A dash (“—”) indicates that no data was reported for a specific line item in the relevant financial year or period or when the pertinent figure, after rounding, amounts to nil. The fiscal year begins on January 1 and ends on December 31. New and amended standards adopted by the Group The group has applied the following standards and amendments for the first time for their annual reporting period commencing on 1 January 2017: IAS 12, “Income tax” In February 2016, the IASB issued certain amendments to clarify the requirements for recognition of deferred tax assets for tax unrealized losses, effective from January 1, 2017. IAS 7, “Cash Flow Statement” In February 2016, the IASB issued an amendment by which requires that an entity disclose information that enables users to understand the changes in liabilities arising from financing activities, effective from January 1, 2017. The adoption of these amendments had no impact on the amounts recognized in previous years. Most modifications will also not affect current or future periods. The amendments to IAS 7 require the disclosure of changes in liabilities arising from financing activities, see Note 28. New and amended standards not yet adopted for CAAP Certain new accounting standards and interpretations have been published that are not mandatory for December 31, 2017 reporting periods and have not been early adopted by the group. The group’s assessment of the impact of these new standards and interpretations is set out below. IFRS 9, "Financial Instruments" IFRS 9 - Financial Instruments, and subsequent amendments, issued in July 2014. This standard is effective for fiscal years beginning January 2018 and replaces the previously issued versions and establishes new requirements for hedge accounting and a new model of impairment for financial assets. The group has reviewed its financial assets and liabilities and is expecting the following impact from the adoption of the new standard on 1 January 2018: The majority of the group’s financial instruments are currently classified as held to maturity. Those instruments will satisfy the conditions for classification as amortized cost and hence there will be no change to the accounting for these assets. In respect of other financial assets measured at fair value through profit or loss, there will be no change to the accounting for these assets. There will be no impact on the group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the group does not have any such liabilities. The derecognition rules have been transferred from IAS 39 Financial Instruments: Recognition and Measurement As the Group has no hedging instruments, the new hedging requirements will not affect the Group´s financial condition or results of operations. The new impairment model requires the recognition of impairment provisions based on expected credit losses (ECL) rather than only incurred credit losses as is the case under IAS 39. It applies to financial assets classified at amortized cost, debt instruments measured at FVOCI”), contract assets under IFRS 15 Revenue from Contracts with Customers According to the evaluations made to date, a non-significant increase in the estimate of losses for uncollectable is expected in approximately 2.6% of the total trade receivables. It also introduces broader disclosure requirements and changes in presentation. Therefore, the nature and extent of the disclosures of financial instruments are expected to change, particularly in the year of adoption of the new standard. The Group will apply the new rules retrospectively as of January 1, 2018, with the practical expedients allowed by the standard. IFRS 15, “Revenue from contracts with customers” IFRS 15, ‘Revenue from contracts with customers’ deals with revenue recognition and establishes principles for reporting useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. Revenue is recognized when a customer obtains control of a good or service and thus has the ability to direct the use and obtain the benefits from the good or service. The standard replaces IAS 18 ‘Revenue’ and IAS 11 ‘Construction contracts’ and related interpretations. The standard is effective for annual periods beginning on or after 1 January 2018. The Company´s management has determine that the adoption of this standard will not have a significant impact on the Company´s financial condition or results of operations. The Group intends to adopt this standard using the modified retrospective approach, meaning that the cumulative impact of the adoption will be recognized in retained earnings as of January 1, 2018 and that comparatives will not be changed. IFRS 16, “Leases” In January 2016, the IASB issued IFRS 16, "Leases", which will result in almost all leases being recognized on the balance sheet, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognized. IFRS 16 must be applied on annual periods beginning on or after January 1, 2019. The Company's management is currently assessing the potential impact that the application of this standard may have on the Company's financial condition or results of operations. Other standards and interpretations non-significant for the Company’s financial statements: -Amendment to IFRS 2 - Classification and Measurement of Share-based Payment Transactions -Annual Improvements to IFRS 2014-2016 cycle. - IFRIC 22 - Foreign Currency Transactions and Advance Consideration. - IFRIC 23 - Uncertainty over Income Tax Treatments. There are no other standards that are not yet effective and that would be expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions. B Group accounting policies (1) Subsidiaries and transactions with non-controlling interests Subsidiaries are all entities over which the Group has control. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is exercised by the Company and are no longer consolidated from the date control ceases. The acquisition method is used to account for the business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred or assumed at the date of exchange, and the equity interest issued by the group. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. Accounting treatment is applied on an acquisition by acquisition basis. The excess of the aggregate of the consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Consolidated Statement of Income. Transactions with non-controlling interests that do not result in a loss of control are accounted as equity transactions with owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. Material inter-company transactions, balances and unrealized gains and losses have been eliminated in consolidation. However, financial gains and losses from intercompany transactions may arise when the subsidiaries have different functional currencies. These financial gains and losses are included in the Consolidated Statement of Income under Financial income and Financial loss (2) Associates Associates are all entities over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for by the equity method of accounting and are initially recognized at cost, and the carrying amount is increased or decreased to recognize the investor`s share of profit or loss of the investee after the date of acquisition. The Company’s investment in associates includes goodwill identified on acquisition, net of any accumulated impairment loss. Unrealized gains or losses arising from transactions between the Group and its associates are eliminated to the extent of CAAP’s interest in the associates. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been adjusted where necessary to ensure consistency with the policies adopted by the Group. The Company’s pro-rata share of earnings in associates is recorded in the Consolidated Statement of Income under Share of loss in associates Share of other comprehensive income from associates Other Reserves. (3) List of Subsidiaries Detailed below are the subsidiaries of the Company which have been consolidated in the Consolidated Financial Statements. The percentage of ownership refers to the direct and indirect ownership of Corporación América Airports S.A in their subsidiaries at each period-end. Holdings companies Country of Percentage of ownership at Company incorporation Local currency Main activity 2017 2016 2015 Abafor S.A. (*) Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % ACI AIA S.à r.l(*)(**) Luxembourg Euros Holding company - 100.00 % 100.00 % ACI Airport Sudamérica S.A.U. Spain Euros Holding company 100.00 % 100.00 % 100.00 % ACI Airports Italia S.A. (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % America International Airports LLC (AIA) (*) USA U.S. dollars Holding company 100.00 % 100.00 % 100.00 % Cargo & Logistics S.A. (*) Argentina Argentine pesos Holding company 98.63 % 98.63 % 98.63 % CASA Aeroportuaria S.A. (*) Argentina Argentine pesos Holding company 99.98 % 99.98 % 99.98 % Cedicor S.A (*) Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % Cerealsur S.A. Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % Corporación Aeroportuaria S.A. (*) Argentina Argentine pesos Holding company 100.00 % 100.00 % 100.00 % Corporación América Italia S.A. Italy Euros Holding company 100.00 % 100.00 % 100.00 % Corporación América S.A. (*) Argentina Argentine pesos Holding company 95.37 % 95.37 % 95.37 % Corporación América Sudamericana S.A. Panamá U.S. dollars Holding company 94.68 % 94.68 % 94.68 % DICASA Spain S.A. (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % GOFI Investments S.L (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % Inframérica Participaçoes S.A. (*) Brazil Brazilian real Holding company 99.96 % 99.96 % 99.96 % Yokelet S.L. (*) Spain Euros Holding company 100.00 % 100.00 % 90.00 % (*) (**) This company was dissolved on June 30, 2017. Operating companies Country of Percentage of ownership at Company incorporation Local currency Main activity 2017 2016 2015 Aerocombustibles Argentinos S.A. Argentina Argentine pesos Fueling company 92.98 % 92.98 % 92.98 % Aeropuerto de Bahía Blanca S.A. Argentina Argentine pesos Airports Operation 81.06 % 81.06 % 81.06 % Aeropuertos Argentina 2000 S.A.(“AA2000”) (***) Argentina Argentine pesos Airports Operation 81.29 % 81.29 % 81.29 % Aeropuertos del Neuquén S.A. Argentina Argentine pesos Airports Operation 74.10 % 74.10 % 74.10 % Arrnenia International Airports CJSC Armenia Dram Airports Operation 100.00 % 100.00 % 100.00 % CAI S.A. Uruguay Uruguayan pesos Airports Operation 100.00 % 100.00 % 100.00 % Enarsa Aeropuertos S.A. Argentina Argentine pesos Fuel plants 76.29 % 76.29 % 76.29 % Inframerica Concessionária do Brazil Brazilian real Airports Operation 50.98 % 50.98 % 50.98 % Inframerica Concessionária do Brazil Brazilian real Airports Operation 99.97 % 99.96 % 99.95 % Paoletti América S.A. (****) Argentina Argentine pesos Service company 40.65 % 40.65 % 40.65 % Puerta del Sur S.A. Uruguay Uruguayan pesos Airports Operation 100.00 % 100.00 % 100.00 % Servicios y Tecnología Aeroportuaria S.A. Argentina Argentine pesos Service company 80.73 % 80.73 % 80.73 % TCU S.A. Uruguay Uruguayan pesos Service company 100.00 % 100.00 % 100.00 % Terminal Aeroportuaria Guayaquil S.A. (“TAGSA”) (*****) Ecuador U.S. dollars Airports Operation 49.99 % 49.99 % 49.99 % Texelrío S.A. Argentina Argentine pesos Service company 56.91 % 56.91 % 56.91 % Toscana Aeroporti S.p.A. Italy Euros Airports Operation 51.13 % 51.13 % 51.13 % Villalonga Furlong S.A. Argentina Argentine pesos Service company 78.91 % 78.91 % 78.91 % (***) Includes a 9.35% direct interest of Cedicor S.A. in AA2000, acquired by Cedicor S.A. in 2011. This participation is subject to the authorization by the ORSNA pursuant to section 7.2 of the Argentine Concession Agreement. As of the date of issuance of these Consolidated Financial Statements, the ORSNA has not issued any resolution approving or rejecting the aforementioned transaction. While this approval is pending, all economic and political rights pertaining to the shares, including all distributed dividends, have been assigned to Cedicor S.A. (****) The group has control over this company based on having majority representation in the board, power to direct the process of setting of financial and operating policies and execute the operational management of such Company. (*****) The group has control over this company based on having power to direct the process of setting of financial and operating policies and execute the operational management of such Company. Summarized financial information in respect of each of the Group´s subsidiaries that has most significant non-controlling interests is set below. The summarized financial information below represents amounts before intragroup elimination. Toscana Aeroporti S.p.a. December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 236,893 199,316 203,251 Current assets 62,144 51,453 60,788 Total assets 299,037 250,769 264,039 Non-current liabilities 73,762 68,646 76,629 Current liabilities 89,057 63,806 67,080 Total liabilities 162,819 132,452 143,709 Equity 136,218 118,317 120,330 Revenue 154,526 141,347 152,663 Gross profit 50,269 45,057 41,438 Operating income 19,469 17,854 14,212 Financial Results (1,630 ) (1,240 ) (1,894 ) Share of income in associates 39 - 1,842 Income tax expense (5,893 ) (5,624 ) (4,654 ) Net income 11,985 10,990 9,506 Other comprehensive (income) / loss for the year 16,469 (4,643 ) (10,761 ) Total comprehensive income/(loss) for the year 28,454 6,347 (1,255 ) Dividends paid (10,584 ) (4,268 ) (3,831 ) Increase/(decrease) in cash Provided by operating activities 13,345 16,514 23,210 Used in investing activities (19,315 ) (10,170 ) (7,319 ) Used in financing activities (9,981 ) (10,979 ) (9,634 ) Terminal Aeroportuaria de Guayaquil S.A. December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 51,941 55,188 62,134 Current assets 42,760 45,053 40,520 Total assets 94,701 100,241 102,654 Non-current liabilities 6,571 11,566 8,114 Current liabilities 42,929 44,307 56,633 Total liabilities 49,500 55,873 64,747 Equity 45,201 44,368 37,907 Revenue 85,310 85,301 79,045 Gross profit 35,063 36,220 32,287 Operating income 19,087 20,626 15,806 Financial Results (479 ) (1,395 ) (2,377 ) Share of income in associates - - - Income tax expense (1,653 ) (1,768 ) (1,466 ) Net income 16,955 17,463 11,963 Other comprehensive income for the year - - - Total comprehensive income for the year 16,955 17,463 11,963 Dividends paid (17,371 ) (16,157 ) (7,315 ) Increase/(decrease) in cash Provided by operating activities 24,743 26,951 20,336 Provided by/ (used in) investing activities (24,585 ) 8,995 (5,303 ) Used in financing activities (23,066 ) (23,397 ) (20,563 ) Inframerica Conssesionária do Aeroporto de December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 1,267,647 1,373,179 1,114,659 Current assets 48,747 126,418 54,346 Total assets 1,316,394 1,499,597 1,169,005 Non-current liabilities 1,060,174 1,206,457 954,791 Current liabilities 250,671 211,667 94,464 Total liabilities 1,310,845 1,418,124 1,049,255 Equity 5,549 81,473 119,750 Revenue 111,259 99,889 N/A Gross profit 14,538 19,511 N/A Operating income (161 ) 7,143 N/A Financial Results (116,222 ) (128,403 ) N/A Share of income in associates - - N/A Income tax expense 38,798 40,425 N/A Net loss (77,585 ) (80,835 ) N/A Other comprehensive income for the year 1,764 24,372 N/A Total comprehensive loss for the year (75,821 ) (56,463 ) N/A Dividends paid - - N/A Increase/(decrease) in cash Used in operating activities (76,445 ) (10,674 ) N/A Used in investing activities (10,065 ) (16,172 ) N/A Provided by financing activities 87,216 10,489 N/A Aeropuertos Argentina 2000 S.A. December 31, December 31, December 31, 2017 2016 2015 Non-current assets 707,952 544,697 487,122 Current assets 199,222 146,034 94,881 Total assets 907,174 690,731 582,003 Non-current liabilities 411,561 159,411 212,192 Current liabilities 150,225 220,822 145,767 Total liabilities 561,786 380,233 357,959 Equity 345,388 310,498 224,044 Revenue 994,782 837,380 780,870 Gross profit 360,822 339,344 283,732 Operating income 282,422 270,672 211,424 Financial Results (52,788 ) (53,036 ) (135,847 ) Share of income in associates - - - Income tax expense (67,620 ) (81,501 ) (26,152 ) Net income 162,014 136,135 49,425 Other comprehensive loss for the year (50,945 ) (49,680 ) (113,471 ) Total comprehensive income (loss) for the year 111,069 86,455 (64,046 ) Dividends paid (76,178 ) - - Increase/(decrease) in cash (Used in) /provided by operating activities (53,509 ) 114,704 47,192 Used in investing activities (185 ) (1,028 ) (652 ) Provided by /(used in) financing activities 129,370 (79,748 ) (63,915 ) C Foreign currency translation (1) Functional and presentation currency Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The consolidated financial statements are presented in U.S. dollars, which is the Group´s functional and presentation currency. (2) Transactions in currencies other than the functional currency Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuations where items are re-measured. At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included, if applicable, in “Financial income / Financial loss” (3) Translation of financial information in currencies other than the functional currency Income and expenses of the subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S. dollars at the monthly average exchange rates. Assets and liabilities for each balance sheet presented are translated at the balance sheet date exchange rates. Translation differences are recognized in other comprehensive income as “Currency Translation Adjustments”. As of December 31, 2017, 2016 and 2015, the Company recognized a translation loss of USD 25.6 million, USD 44.3 million and USD 170.9 million, respectively, arising from the translation of the investments in Argentina, Brazil, Italia and Armenia. In the case of a sale or other disposal of any of such subsidiaries, any cumulative translation difference would be recognized in income as a gain or loss from the sale of such subsidiary. D Intangible assets (1) Concession Assets The Group, through some of its subsidiaries has been awarded the concession for the administration and operation of the following airports: - Puerta del Sur S.A. and C.A.I.S.A., of major airports in Uruguay (Montevideo and Punta del Este). - Toscana Aeroporti S.p.A. (“TA”) a merger of Aeroporto di Firenze S.p.A. (“ADF”) and Società Aeroporto Toscano Galileo Galilei S.p.A. (“SAT”) of Florence and Pisa airports, respectively. - Inframérica Concessionária do Aeroporto de Brasilia S.A. and Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. of Brasilia and São Gonçalo do Amarante airports, respectively. - Terminal Aeroportuaria de Guayaquil S.A. (TAGSA) of Guayaquil airport, “José Joaquin de Olmedo”. - Aeropuertos Argentina 2000 S.A. 34 airports in Argentina. - “Armenia” International Airports CJSC of the “Zvartnots” International Airport of Yerevan, Republic of Armenia. The concession agreements are accounted for in accordance with the principles included in IFRIC 12 “Service Concession Arrangements”. The Company recognized an intangible asset for: a) Fixed fees payables as the result of the acquisition of the right (license) to charge users for the service of airport concession (see Note 22), b) Right to obtain benefits for services provided using the assets built under the construction services performed under the concession contracts. Acquisitions correspond, according to the terms of the Concession contract, to the improvements over existing infrastructure to increase the useful life or its capacity, or the construction of new infrastructure. General and specific borrowing costs, attributable to the acquisition, construction or production of assets that necessarily take a substantial period to get ready for their intended use or sale are added to the cost of such assets until the assets are substantially ready to be used or sold. The intangible asset for infrastructure under each concession agreement is amortized over the contract term in accordance with an appropriate method reflecting the rate of consumption of the concession asset’s economic benefits as from the date the infrastructure is brought into service. Accounting of the fixed concession fee under the Brazilian concession agreements are described in Note 22 A. As part of the obligations arising from the concession agreements, the Group provides construction or upgrade services. IFRIC 12 “Service Concession Arrangements” requires to recognize revenues and costs from the construction or upgrade services provided. The fair value of the construction or upgrade service is equal to the construction or upgrade costs plus a reasonable margin, which the Group has estimated at an average of 3% to 5%. The concession fee paid to the grantor derived from the concession agreements are recognized depending on the terms defined in the concession agreement: a) Fixed concession fee is recognized at the beginning of the concession as it is reliably measurable, as a counterpart an intangible asset is recognized, this type of fee is independent form the revenue. b) Variable fees payables that are define as a percentage over certain revenue streams, recognized monthly by monthly in the income statement. Each operating company is responsible for obtaining the necessary guarantees for the commitments assumed in each concession. They are mostly covered by insurance that it is paid in advance and it is recorded in Other receivables, and is accrued over the life of the coverage. Main commitments under each concession agreement are included in Note 25 b. (2) Goodwill Goodwill represents the excess of the acquisition cost over the fair value of the Group’s share of net identifiable assets, liabilities and contingent liabilities acquired as part of business combinations determined by management. Goodwill impairment reviews are performed annually or more frequently if events or changes in circumstances indicate a potential impairment. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. Impairment losses on goodwill are not reversed. Goodwill, net of impairment losses, if any, is included on the Consolidated Statement of Financial Position under For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each cash-generating units (CGUs) of a subsidiary or group of subsidiaries that are expected to benefit from such business combination. E Property, plant and equipment Property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and impairment losses; historical cost includes expenses directly attributable to the acquisition of the items. Major overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the group and the investment enhances the condition of assets beyond its original condition. Depreciation is calculated using the straight-line method to allocate the cost of each asset to its residual value over the estimated useful life, as follows: Buildings and improvements 25-30 years Plant and production equipment 3-10 years Vehicles, furniture and fixtures, and other equipment 4-10 years The residual values and useful lives of significant property, plant and equipment are reviewed and adjusted, if appropriate, at each year-end date. Gain and losses on disposals are determined by comparing the proceeds with the carrying amount and are included in “Other operating (expense) / income” in the Consolidated Statement of Income. (1) Oil and gas exploration activities from discontinued operations The Company applies IFRS 6 "Exploration for and Evaluation of Mineral Resources" to account for its oil and gas exploration and evaluation activities. As a result, in accordance with IFRS 6, the Company capitalizes oil and gas exploration and evaluation expenses, such as topographical, geological, geochemical and geophysical studies; exploratory drilling; evaluation of oil and gas reserves, and mining property associated with unproven reserves, such as assets for exploration and evaluation as a special category (Exploration and evaluation assets) within Property, plant and equipment. The costs prior to obtaining an exploration permit are charged to income/loss as incurred. This means that exploration costs are temporarily capitalized until the results of the exploration efforts are evaluated so as to determine if there are sufficient hydrocarbon reserves to commercially exploit them. If exploration and evaluation activities do not conclude that there are sufficient hydrocarbon reserves, the amounts capitalized are charged to income/loss at the time this conclusion is reached. Exploration and evaluation assets in relation to which reserves were identified are tested for impairment, prior to reclassification of the line "Production facilities and wells". Exploration and evaluation assets are not subject to depreciation or amortization. (2) Oil and gas development activities from discontinued operations Development costs are costs incurred to develop and produce proven reserves and provide facilities for extraction, collection and storage of oil and gas. This item includes payments of exploitation concession rights, which are recorded under "Mining Property" line. Development costs incurred to drill development wells (successful and dry) and to construct facilities or install equipment for production purposes are capitalized and classified as "Works in progress" until their completion. Once productive, these wells are reclassified to "Production facilities and wells" and depreciation begins; oil and gas production costs are charged to income/loss. Subsequent expenses are incorporated as a cost component of these assets only if they are an improvement and/or extend the useful life and/or increase the production capacity of assets and/or it is probable that the asset generates an increase in net cash flows. The costs of maintenance and repair that only restore production to its original level are charged to income/loss in the fiscal year they are incurred. The costs of asset retirement obligation and well plugging obligations are capitalized at discounted value, together with the assets that gave rise (within the "Production facilities and wells" line) to them and are depreciated using the units of production method. As counterpart, a liability is recognized for this item at the estimated value of the discounted sums payable. These values are adjusted when necessary based on changes in current costs, the date on which wells will be retired and/or any other information available. F Critical accounting estimates and judgments Critical accounting estimates are those that require management to make significant judgments and estimates about matters that are inherently uncertain. Management bases its estimates on historical experience and other assumptions that it believes are reasonable. Actual results could differ from estimates used in employing the critical accounting policies and these could have a material impact on the Group’s results of operations. The Group’s critical accounting estimates are discussed below. (a) Business combinations

Financial Risk Management

Financial Risk Management	12 Months Ended
	Dec. 31, 2017
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Financial Risk Management	3 F inancial Risk Management The Group’s operations expose it to a variety of risks, mainly related to market risks (including the effects of changes in foreign currency exchange rates and interest rates), credit risk and liquidity risk. The Group manages its financial risk exposure independently at each operating subsidiary, however, decisions are discussed by the Board of Directors (“BOD”) members. The most significant financial risks to which the Group is exposed are detailed below. A. Financial Risk Factors (i) Market risk · Foreign exchange risk The Group operates in a number of countries throughout the world and consequently is exposed to foreign exchange rate risk. In addition, the Group has certain investments in foreign operations, whose net assets are exposed to foreign currency translation risk. CAAP does not enter into derivative financial instruments to cover foreign exchange risks. In order to manage foreign exchange risk, the Group policy consists in minimize net positions of assets and liabilities denominated in foreign currencies. The value of the Group’s financial assets and liabilities is subject to changes arising out of the variation of foreign currency exchange rates. A significant majority of the Group’s business activities is conducted in the respective functional currencies of the subsidiaries. However, the Group transacts in currencies other than the respective functional currencies of the subsidiaries. There are significant monetary balances held by the Group companies at each period-end that are denominated in others currencies (non-functional currency). Currency Exposure / Functional currency As of December 31, As of December 31, As of December 31, U.S. dollar / Argentine Peso (267,045 ) (131,284 ) (154,384 ) Real / U.S. dollar 90,697 - - Euro / Armenian dram (50,939 ) (47,473 ) (51,952 ) U.S. dollar / Armenian dram (30,291 ) (54,016 ) (55,421 ) Euro / U.S. dollar 1,535 283 3,162 Uruguayan peso / U.S. dollar 11 (1,853 ) (770 ) The relevant exposures correspond to: § U.S. dollar / Argentine Peso As of December 31, 2017 and 2016 consisting primarily of -denominated net monetary assets and liabilities at certain Argentine Argentine Peso § Real / U.S. dollar As of December 31, 2017 consisting primarily of Real-denominated net monetary asset in CAAP § Euro / Armenian dram As of December 31, 2017 and 2016 consisting primarily of Euro -denominated net monetary assets and liabilities at the Armenian subsidiaries which functional currency was the Armenian Dram. A change of 1% in the Dram / Euro exchange rate would have generated a pre-tax gain / loss of USD 509.4 as of December 31, 2017 (USD 474.7 and as of December 31, 2016 ). § U.S. dollar / Armenian dram As of December 31, 2017 and 2016 consisting primarily of -denominated net monetary assets and liabilities at the Armenian Armenian Dram § Euro / U.S. dollar As of December 31, 2017 and 2016 consisting primarily of Euro-denominated net monetary assets and liabilities at certain Uruguayan § Uruguayan peso / U.S. dollar As of December 31, 2017 and 2016 consisting primarily of Uruguayan Peso-denominated net monetary assets and liabilities at certain Uruguayan (ii) Interest rate risk The Group's interest rate risk principally arises from long-term borrowings (Note 21). Borrowings issued at variable rates expose the Group to the risk that the actual cash flows differ from those expected. Borrowings issued at fixed rates expose the Group to the risk that the fair values of these differ from those expected. The Group manages this risk by maintaining an appropriate mix between fixed and floating rate interest bearing liabilities. These activities are evaluated regularly to determine that the Group is not exposed to interest rate movements that could adversely impact its ability to meet its financial obligations and to comply with its borrowing covenants. The following table shows a breakdown of the Group's fixed-rate and floating-rate borrowings as of December 31, 2017, 2016 and 2015. At December 31, 2017 2016 2015 Fixed rate 738,320 630,541 696,066 Variable rate 748,125 476,700 391,500 1,486,445 1,107,241 1,087,566 The Group estimates that, other factors being constant, a 10% increase in floating rates at year-end would decrease profit before income tax for the year ended December 31, 2017, 2016 and 2015, USD 4,115, USD 3,846 and USD 518 respectively. A 10% decrease in the floating interest rate would have an equal and opposite effect on the statement of income. This sensitivity analysis provides only a limited, point-in-time view of this market risk sensitivity of certain of the Group's financial instruments. The actual impact of rate changes on the Group's financial instruments may differ significantly from the impact shown in the sensitivity analysis. (iii) Credit risk The financial instruments that could be subject to concentration of credit risk consist of cash, cash equivalents, accounts receivable and short term investments. The Group places its cash and cash equivalents and short term investments in several first rate credit entities, reducing in this way the credit exposure to only one entity. The Group has not experienced significant losses from those assets. Each subsidiary is responsible for managing and analyzing credit risk of its accounts receivable, for each of their new customers before standard payment and delivery terms and conditions are offered. There is no significant concentration of credit risk from customers. The Group The Group recognized provision for bad debts to cover impairment for potential credit losses (iv) Liquidity risk The Group is exposed to liquidity risks, including risks associated with refinancing borrowings as they mature, the risk that borrowing facilities are not available to meet cash requirements, and the risk that financial assets cannot readily be converted to cash without loss of value. Failure to manage liquidity risks could have a material impact on the Group's cash flow and statement of financial position. Prudent liquidity risk management implies maintaining sufficient cash, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. Due to the dynamic nature of the underlying businesses, the Group aims to maintain flexibility in funding its existing and prospective debt requirements by maintaining diversified funding sources with adequate committed funding lines from high quality lenders. The Group monitors its current and projected financial position using several key internally generated reports: cash flow; debt maturity; and interest rate exposure. The Group also undertakes sensitivity analysis to assess the impact of proposed transactions, movements in interest rates on the key profitability, liquidity and balance sheet ratios. The Group's debt positions are continually reviewed to meet current and expected debt requirements. The Group maintains a balance between longer-term and shorter-term financings. Short-term financing is principally raised through bank facilities and overdraft positions. Medium- to longer-term financing comprises public and private bond issues, including private placements. Financing risk is spread by using a variety of types of debt. The maturity profile is managed, by spreading the repayment dates and extending facilities. As of December 31, 2017 the Company shows working capital deficiency mainly due to short-term banking letter of credits entered by CAAP, ICAB and ICASGA in such month. This deficiency was remediated with the uses of proceeds of the Initial Public Offering and specially with the amendments and extension agreements with BNDES with respect to the ICAB and ICASGA loans, which extended the final maturity, provided an interest capitalization period and increased the size of the credit facility commitments which allows the repayments of the short-term loans and improve in consequence the working capital position. Liquid financial assets as a whole (comprising cash and cash equivalents) were 5.81% of total assets at the end of 2017 compared to 5.87% and 5.63% at the end of 2016 and 2015 respectively. The Group has a conservative approach to the management of its liquidity, which consists mainly in cash at banks. (v) Capital Management The capital structure of the Group consists of shareholders' equity and short-term to long-term net borrowings. The type and maturity of the Group's borrowings are analyzed further in Note 21. The Group's equity is analyzed into its various components in the statement of changes in equity. Capital is managed so as to promote the long-term success of the business and to maintain sustainable returns for shareholders. The objectives of the Group for capital management are to safeguard its capacity to continue doing business and be able to provide yield to owners as well as benefits to holders of instruments of shareholder’s equity and maintain an optimum capital structure to reduce cost of capital. At December 31, 2017 2016 2015 Borrowings 1,486,445 1,107,241 1,087,566 Less: Cash and cash equivalents (221,601 ) (212,988 ) (184,239 ) Net borrowings 1,264,844 894,253 903,327 Equity 797,142 803,324 834,101 Debt ratio 159 % 111 % 108 % According to note 3 A (iv) and note 22 the debt ratio as of December 31, 2017 has increased as a consequence that the Group entered into certain banking letters of credit as of December, 2017 and is amending the credit facility agreements with BNDES. The company used the proceeds of these loans to pay a portion of the concession fees due under the Brasilia Concession Agreement and prepay a portion of the concession fees due and payable in 2018. Moreover, in February 2017, and according to note 21, AA2000 has issued senior secured notes in order to reduce the cost of capital and with the objective to finance infrastructure works required under the investment plan besides to refinance the liabilities of the company including the redemption in full of the notes issued in 2010. B. Financial instruments by category December 31, 2017 Assets at fair Assets at Total Assets as per the statement of financial position Trade receivables - 126,078 126,078 Other receivables - 293,578 293,578 Other financial assets (*) 16,214 26,082 42,296 Cash and cash equivalents - 221,601 221,601 Total 16,214.00 667,339 683,553 Liabilities at fair Liabilities at Total Liabilities as per the statement of financial position Borrowings - 1,486,445 1,486,445 Trade payables and other liabilities - 1,198,562 1,198,562 Total - 2,685,007 2,685,007 (*) Other financial assets measured at fair value are Level 1 hierarchy. December 31, 2016 Assets at fair value through profit and loss Assets at amortized cost Total Assets as per the statement of financial position Trade receivables - 109,610 109,610 Other receivables - 193,087 193,087 Other financial assets - 34,657 34,657 Cash and cash equivalents - 212,988 212,988 Total - 550,342 550,342 Liabilities at fair Liabilities at Total Liabilities as per the statement of financial position Borrowings - 1,107,241 1,107,241 Trade payables and other liabilities - 1,434,901 1,434,901 Total - 2,542,142 2,542,142 December 31, 2015 Assets at fair Assets at Total Assets as per the statement of financial position Trade receivables - 101,358 101,358 Other receivables - 122,072 122,072 Other financial assets - 55,390 55,390 Cash and cash equivalents - 184,239 184,239 Total - 463,059 463,059 Liabilities at fair Liabilities at Total Liabilities as per the statement of financial position Borrowings - 1,087,566 1,087,566 Trade payables and other liabilities - 1,140,966 1,140,966 Total - 2,228,532 2,228,532 C. Fair value hierarchy IFRS 13 requires for financial instruments that are measured in the statement of financial position at fair value, a disclosure of fair value measurements by level according to the following fair value measurement hierarchy: Level 1- Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2- Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices). Level 3- Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). D. Fair value estimation The estimated fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

Segment information

Segment information	12 Months Ended
	Dec. 31, 2017
Disclosure of operating segments [abstract]
Segment information	4 Segment information The Company presents its segment information for airports, which are considered as strategic business units, not by type of service. All airports provide similar services to their customers. For each one of the strategic business units the Group Board, composed of the CEO, the CFO and the corporate planning manager, assesses the Group's performance from a geographic perspective and by types of activities (Airports and Others) of which seven segments have been identified to be reported: 1. Argentina 2. Brazil 3. Uruguay 4. Armenia 5. Ecuador 6. Italy 7. Perú The activities carried out by the Group are as follows: Airports: It relates to the operation of airport concessions in the geographic areas mentioned above. Others: These are represented by the businesses that are not operation of airport concessions (for example: TCU S.A. and Aerocombustible S.A.) All other segments - Assets and results of the subsidiaries that are holding companies are not analyzed by the CODM, therefore they are not separately included in the reports provided to the Board. The results of the operations of holding companies are included in the "unallocated" column. The column also includes head office and group services. The elimination of any intersegment revenues and other significant intercompany operations are included in the “Intersegment Adjustments” column. The results, assets and liabilities of companies that are not related to the airport business are included in the Discontinued Operation column. The main businesses that were sold by the Group are: an oil company (Latin Exploration S.A.), construction companies (Helport do Brasil and Helport S.A.) and electricity companies (Hidroaconcagua). The performance of each segment is measured by its adjusted EBITDA from continuing operations, defined, with respect to each segment, as income from continuing operations before financial income, financial loss, income tax expense, depreciation and amortization for such segment. Adjusted EBITDA from continuing operations excludes certain items that are not considered part of Group´s core operating results; specifically, financial income, financial loss, income tax expense, depreciation and amortization are not allocated to Group´s reportable segments. Geographical information Argentina Brazil Uruguay Armenia Ecuador Italy Perú Airports Others Airports Airports Others Airports Airports Airports Airports Intrasegment Unallocated Total Continuing Total Discontinued Year ended December 31, 2017 Revenue 1,000,303 422 128,842 100,553 15,774 94,464 85,310 154,526 - (10,191 ) 5,150 1,575,153 - Cost of services (638,216 ) (144 ) (116,164 ) (48,371 ) (12,184 ) (52,863 ) (50,247 ) (104,257 ) - 6,778 (14,315 ) (1,029,983 ) - Gross profit 362,087 278 12,678 52,182 3,590 41,601 35,063 50,269 - (3,413 ) (9,165 ) 545,170 - Selling, general and administrative expenses (96,737 ) (242 ) (14,361 ) (11,758 ) (1,323 ) (11,263 ) (16,185 ) (30,800 ) - 3,413 (14,945 ) (194,201 ) - Reversal of previous impairment/(Impairment loss) - - 3,065 - - - - - - - - 3,065 - Other operating income 18,942 69 - 74 341 149 287 - - - 91 19,953 - Other operating expenses (1,271 ) (1 ) (1,622 ) (623 ) (371 ) (827 ) (77 ) - - (9 ) (37 ) (4,838 ) - Operating income 283,021 104 (240 ) 39,875 2,237 29,660 19,088 19,469 - (9 ) (24,056 ) 369,149 - Share of loss in associates - - - - - - - 39 (15,283 ) - (597 ) (15,841 ) - Amortization and depreciation 32,121 - 17,038 12,495 590 11,493 7,376 10,302 - - 16,899 108,314 - Adjusted Ebitda 315,142 104 16,798 52,370 2,827 41,153 26,464 29,810 (15,283 ) (9 ) (7,754 ) 461,622 - Financial income 62,555 - Financial loss (302,047 ) - Amortization and depreciation (108,314 ) - Income before income tax expense 113,816 - Income tax expense (46,925 ) - Net income 66,891 - Current assets 200,982 425 66,631 24,697 2,887 38,110 42,760 62,144 - (74,280 ) 215,122 579,478 - Non-current assets 709,689 7 1,432,833 159,880 5,121 173,087 51,941 236,893 11,790 (1,093 ) 441,588 3,221,736 - Capital Expenditure 231,998 41 13,589 6,327 852 5,778 934 20,013 - - 24 279,556 - Current liabilities 151,794 64 262,624 23,536 3,755 22,741 42,929 89,057 - (73,004 ) 208,526 732,022 - Non-current liabilities 412,242 - 1,271,776 64,050 1,175 95,159 6,571 73,762 - (2,369 ) 349,684 2,272,050 - Year ended December 31, 2016 Revenue 840,852 373 127,038 89,187 14,343 73,234 85,301 141,347 - (8,697 ) 3,358 1,366,336 - Cost of services (500,336 ) (133 ) (110,001 ) (41,842 ) (10,572 ) (42,953 ) (49,081 ) (96,289 ) - 6,132 (13,999 ) (859,074 ) - Gross profit 340,516 240 17,037 47,345 3,771 30,281 36,220 45,058 - (2,565 ) (10,641 ) 507,262 - Selling, general and administrative expenses (84,887 ) (218 ) (12,644 ) (8,292 ) (1,010 ) (11,303 ) (16,159 ) (27,203 ) - 2,599 (11,735 ) (170,852 ) - Reversal of previous impairment/(Impairment loss) - - (16,638 ) - - - - - - - - (16,638 ) - Other operating income 16,944 - - - - - - - - - - 16,944 - Other operating expenses (1,331 ) 58 (643 ) (220 ) (84 ) (2,267 ) 565 - - (34 ) (947 ) (4,903 ) - Operating income 271,242 80 (12,888 ) 38,833 2,677 16,711 20,626 17,855 - - (23,323 ) 331,813 - Share of loss in associates - - - - - - - - (397 ) - (909 ) (1,306 ) - Amortization and depreciation 22,791 - 16,736 11,682 527 11,360 7,344 9,478 - - 16,772 96,690 - Adjusted Ebitda 294,033 80 3,848 50,515 3,204 28,071 27,970 27,333 (397 ) - (7,460 ) 427,197 - Financial income 37,521 - Financial loss (272,951 ) - Amortization and depreciation (96,690 ) - Income before income tax expense 95,077 - Income tax expense (56,359 ) - Net income 38,718 (9,478 ) Current assets 147,058 371 134,817 25,452 2,821 30,242 45,053 51,453 - (55,816 ) 125,674 507,125 - Non-current assets 546,011 9 1,533,910 166,048 5,042 176,520 55,189 199,317 8,504 (599 ) 430,200 3,120,151 - Capital Expenditure 155,026 13 16,692 5,749 2,072 2,003 426 12,102 - 316 - 194,399 - Current liabilities 221,726 58 233,649 17,104 2,820 18,225 44,307 63,806 - (55,451 ) 116,532 662,776 - Non-current liabilities 159,688 - 1,402,430 69,899 1,860 103,030 11,566 68,645 - (966 ) 345,024 2,161,176 - Argentina Brazil Uruguay Armenia Ecuador Italy Perú Airports Others Airports Airports Others Airports Airports Airports Airports Intrasegment Unallocated Total Continuing Total Discontinued Year ended December 31, 2015 Revenue 783,850 439 813 83,862 15,333 74,701 79,045 152,663 - (6,291 ) 2,675 1,187,090 - Cost of services (499,686 ) (166 ) (937 ) (39,136 ) (10,567 ) (49,534 ) (46,759 ) (111,225 ) - 6,291 (7,436 ) (759,155 ) - Gross profit 284,164 273 (124 ) 44,726 4,766 25,167 32,286 41,438 - - (4,761 ) 427,935 - Selling, general and administrative expenses (87,730 ) (278 ) (16 ) (10,317 ) (1,004 ) (10,266 ) (14,629 ) (27,226 ) - - (15,753 ) (167,219 ) - Reversal of previous impairment/(Impairment loss) - - - - - - - - - - - - - Other operating income 15,573 - - - - - - - - - - 15,573 - Other operating expenses (629 ) 71 42 (132 ) (63 ) (1,005 ) (1,852 ) - - - 901 (2,667 ) - Operating income 211,378 66 (98 ) 34,277 3,699 13,896 15,805 14,212 - - (19,613 ) 273,622 - Share of (loss)/ income in associates - - (71,958 ) - - - - 1,842 816 - (17 ) (69,317 ) - Amortization and depreciation 21,810 - 218 11,332 463 11,367 7,306 9,625 - - 10,126 72,247 - Adjusted Ebitda 233,188 66 (71,838 ) 45,609 4,162 25,263 23,111 25,679 816 - (9,504 ) 276,552 - Financial income 46,807 - Financial loss (199,839 ) - Amortization and depreciation (72,247 ) - Income before income tax expense 51,273 - Income tax expense (44,969 ) - Net income 6,304 108,987 Current assets 95,907 339 59,706 26,032 2,282 39,415 40,520 60,785 - (112,052 ) 181,788 394,722 - Non-current assets 488,901 11 1,261,464 172,746 3,780 185,913 62,134 203,250 9,248 (38,105 ) 527,563 2,876,905 - Capital Expenditure 100,832 8 - 5,038 543 4,286 2,122 24,896 - - 8,458 146,183 - Current liabilities 147,084 52 123,557 15,137 2,324 26,291 56,633 67,079 - (148,218 ) 192,097 482,036 - Non-current liabilities 212,581 - 1,107,836 71,163 1,078 117,439 8,114 76,629 - (1,942 ) 362,592 1,955,490 -

Revenue

Revenue	12 Months Ended
	Dec. 31, 2017
Revenue [abstract]
Revenue	5 Revenue 2017 2016 2015 Aeronautical revenue 767,023 673,509 543,228 Non aeronautical revenue Commercial revenue 555,504 522,199 459,717 Construction service revenue 250,112 165,065 178,420 Other revenue 2,514 5,563 5,725 1,575,153 1,366,336 1,187,090

Cost of services

Cost of services	12 Months Ended
	Dec. 31, 2017
Disclosure Of Cost Of Sales [Abstract]
Cost of services	6 Cost of services 2017 2016 2015 Salaries and social security contributions (**) (210,799 ) (184,623 ) (165,774 ) Concession fees (***) (191,933 ) (176,492 ) (133,846 ) Construction service cost (248,602 ) (163,747 ) (176,972 ) Maintenance expenses (145,787 ) (126,924 ) (125,825 ) Amortization and depreciation (100,674 ) (89,540 ) (64,772 ) Services and fees (54,479 ) (49,045 ) (42,472 ) Cost of fuel (27,818 ) (19,458 ) (21,339 ) Taxes (*) (19,511 ) (17,543 ) (2,711 ) Office expenses (17,256 ) (15,885 ) (9,756 ) Provision for maintenance costs (2,314 ) (4,679 ) (5,391 ) Others (10,810 ) (11,138 ) (10,297 ) (1,029,983 ) (859,074 ) (759,155 ) (*) Mainly includes tax from turnover and municipal taxes. (**) (***) Includes depreciation for Brazil concession assets of US$ 29,816 as of December 31, 2017 (US$ 26,192 as of December 31, 2016).

Selling, general and administra

Selling, general and administrative expenses	12 Months Ended
	Dec. 31, 2017
Selling, general and administrative expense [abstract]
Selling, general and administrative expenses	7 Selling, general and administrative expenses 2017 2016 2015 Taxes (*) (54,883 ) (50,908 ) (43,188 ) Salaries and social security contributions (35,812 ) (34,832 ) (31,508 ) Services and fees (58,511 ) (48,123 ) (52,481 ) Office expenses (11,620 ) (9,966 ) (10,353 ) Amortization and depreciation (7,640 ) (7,150 ) (7,475 ) Maintenance expenses (4,215 ) (5,113 ) (5,901 ) Advertising (3,044 ) (2,229 ) (3,249 ) Insurance (2,289 ) (1,397 ) (517 ) Charter service (830 ) (1,162 ) (2,336 ) Bad debts recovery 268 2,248 - Bad debts (7,672 ) (1,976 ) (2,574 ) Other (7,953 ) (10,244 ) (7,637 ) (194,201 ) (170,852 ) (167,219 ) (*) Mainly included tax from taxes over banks transactions and tax on revenue.

Other operating income

Other operating income	12 Months Ended
	Dec. 31, 2017
Disclosure Of Other Operating Income [Abstract]
Other operating income	8 Other operating income 2017 2016 2015 Government grant (*) (Note 25) 18,942 16,944 15,573 Other 1,011 - - 19,953 16,944 15,573 (*) Corresponds to government grant for the development of airport infrastructure in Group A (operated by AA2000) of the National Airport System. There are no unfulfilled conditions or other contingencies attaching to these grants. The group did not benefit directly from any other forms of government assistance.

Financial results, net

Financial results, net	12 Months Ended
	Dec. 31, 2017
Disclosure Of Finance Income Expense [Abstract]
Financial results, net	9 Financial results, net 2017 2016 2015 Interest income 39,229 19,009 12,366 Foreign exchange income 23,112 18,512 34,441 Other 214 - - Financial income 62,555 37,521 46,807 Interest expense (115,223 ) (118,219 ) (69,228 ) Foreign exchange loss (82,333 ) (44,895 ) (125,240 ) Changes in liability for Brazil concessions (Note 22) (98,122 ) (107,408 ) (2,039 ) Other (6,369 ) (2,429 ) (3,332 ) Financial loss (302,047 ) (272,951 ) (199,839 ) Net financial results (239,492 ) (235,430 ) (153,032 )

Share of loss in associates

Share of loss in associates	12 Months Ended
	Dec. 31, 2017
Share Of Loss In Associates [Abstract]
Share of loss in associates	10 Share of loss in associates 2017 2016 2015 Loss in associates (Note 14) (15,841 ) (1,306 ) (69,317 ) (15,841 ) (1,306 ) (69,317 )

Income tax expense

Income tax expense	12 Months Ended
	Dec. 31, 2017
Disclosure Of Income Tax [Abstract]
Income tax expense	11 Income tax expense 2017 2016 2015 Current income tax (88,768 ) (97,122 ) (49,894 ) Deferred income tax 41,843 40,763 4,925 (46,925 ) (56,359 ) (44,969 ) The income tax expense differs from the theoretical amount that would arise using the tax rate in each country as follows: 2017 2016 2015 Income before income tax 113,816 95,077 51,273 Tax expense calculated for each company (41,342 ) (35,778 ) (8,637 ) Adjustments Non-taxable income 12,682 20,515 11,478 Expenses related to non-taxable income (24,762 ) (31,281 ) (38,919 ) Non-deductible expenses (8,799 ) (2,867 ) (6,709 ) Tax incentive 1,665 448 - Tax relieving - (6,307 ) - Income tax rate change (*) 12,533 - - Other 1,098 (1,089 ) (2,182 ) Income tax expense (46,925 ) (56,359 ) (44,969 ) The effective income tax rate for the Group for the year ended December 31, 2017 is 41% (61% as of December 31, 2016 and 88% as of December 31, 2015). (*) On December 29, 2017, the National Executive Office of Argentina issued Law 27430 - Income Tax. This law has introduced several changes in the treatment of income tax whose key components are the following: Income Tax Rate: The Income Tax rate for Argentine companies will be gradually reduced from 35% to 30% for fiscal years starting from January 1, 2018 until December 31, 2019 and to 25% for fiscal years beginning on or after January 1, 2020, inclusive.

Intangible assets, net

Intangible assets, net	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about intangible assets [abstract]
Intangible assets, net	12 Intangible assets, net Concession Assets Goodwill Patent, intellectual Total Cost Balances at January 1, 2017 3,334,564 56,013 15,162 3,405,739 Acquisitions 266,380 - 1,664 268,044 Reversal of previous impairment loss 3,065 - - 3,065 Disposals (2,803 ) - 38 (2,765 ) Other (Note 22) (84,075 ) - - (84,075 ) Translation differences (205,125 ) 1,036 (1,997 ) (206,086 ) Balances at December 31, 2017 3,312,006 57,049 14,867 3,383,922 Balances at January 1, 2016 2,899,618 56,699 20,004 2,976,321 Acquisitions 183,160 - 848 184,008 Impairment loss (16,638 ) - - (16,638 ) Disposals (23 ) - (5,617 ) (5,640 ) Other (Note 22) 9,132 - - 9,132 Translation differences 259,315 (686 ) (73 ) 258,556 Balances at December 31, 2016 3,334,564 56,013 15,162 3,405,739 Balances at January 1, 2015 1,742,739 50,773 16,376 1,809,888 Acquisitions of subsidiaries (Note 26) 1,338,951 51,303 2,035 1,392,289 Acquisitions 137,612 - 386 137,998 Disposals (3,413 ) - - (3,413 ) Disposals of subsidiaries - (44,357 ) - (44,357 ) Translation differences (316,271 ) (1,020 ) 1,207 (316,084 ) Balances at December 31, 2015 2,899,618 56,699 20,004 2,976,321 Depreciation Accumulated at January 1, 2017 569,090 306 11,156 580,552 Amortization of the year 129,667 - 580 130,247 Translation differences (144,990 ) 7 (248 ) (145,231 ) Accumulated at December 31, 2017 553,767 313 11,488 565,568 Accumulated at January 1, 2016 354,593 298 10,727 365,618 Amortization of the year 114,496 66 775 115,337 Translation differences 100,001 (58 ) (346 ) 99,597 Accumulated at December 31, 2016 569,090 306 11,156 580,552 Accumulated at January 1, 2015 343,823 340 11,374 355,537 Amortization of the year 63,761 105 573 64,439 Translation differences (52,991 ) (147 ) (1,220 ) (54,358 ) Accumulated at December 31, 2015 354,593 298 10,727 365,618 Net balances at December 31, 2017 2,758,239 56,736 3,379 2,818,354 Net balances at December 31, 2016 2,765,474 55,707 4,006 2,825,187 Net balances at December 31, 2015 2,545,025 56,401 9,277 2,610,703 During 2017, the Company reviewed the impairment test of Inframerica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. (“ICASGA”) intangible assets. Due to the improvement of the passenger curve of the concession in relation to the projection for the current period, and as consequence of the recovery of the economic activity in Brazil, which both indicate a favorable effect in the expectation of the future economic benefits, assumptions in the impairment tests were revised. A lower rate has been used in 2017 (6.08% plus inflation) due to the sensitive improvement of Brazilian macroeconomic indicators, with emphasis on inflation reductions, country risk and short-and long-term interest rates. Therefore, the company performed a reversal of the impairment recognized in previous periods for an amount of USD 3,065. As the calculation of the impairment applied to the intangible assets has as one of its main variables the discount rate, the company carried out a sensitivity analysis showing the impact that it would have on the result if different rates were used. The result of this analysis is shown in the table below: As of December 31, 2017: Rate (6.08+ Estimated rate Estimated rate (6.6%+ Impairment value 3,065 11,433 (4,737 ) Effect 8,380 (7,790 ) No other of the Company’s CGUs, including long-lived assets with finite useful lives, were tested for impairment as no impairment indicators were identified. During 2016, the Company identified impairment indicators of Inframerica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. (“ICASGA”) intangible assets in Brazil operation segment. The passenger curve of the concession notice has a significantly higher projection for the elapsed period, which indicates a reduction in the expectation of future economic benefits. The carrying value of the assets impaired was as follows: Net assets before Impairment Net assets after ICASGA 98,198 (16,638 ) 81,560 The discount rate used was the weighted average cost of capital (WACC) which is considered to be a good indicator of capital cost. WACC was determined considering the industry, country and size of the business. The discount rate used was 6.8% plus inflation. As the calculation of the impairment applied to the intangible assets has as one of its main variables the discount rate, the company carried out a sensitivity analysis showing the impact that it would have on the result if different rates were used. The result of this analysis is shown in the table below: As of December 31, 2016: Rate (6.8+ Estimated rate Estimated rate (7.08%+ Impairment value 16,638 11,745 21,634 Effect (4,893 ) 4,996

Property, plant and equipment,

Property, plant and equipment, net	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment, net	13 Property, plant and equipment, net Land, building Plant and Vehicles, Wells and Mining Works in Exploration and Others Total Cost Balances at January 1, 2017 48,312 45,287 37,693 - - 1,001 - 18,411 150,704 Purchase of property, plant and equipment 632 2,487 4,659 - - 456 - 3,278 11,512 Disposals - - (355 ) - - - - (349 ) (704 ) Transfer 199 2,466 (2,466 ) - - - - (199 ) - Transfer to Intangible - - - - - - - - - Translation differences 5,512 4,149 948 - - 10 - 1,476 12,095 Balances at December 31, 2017 54,655 54,389 40,479 - - 1,467 - 22,617 173,607 Balances at January 1, 2016 49,234 47,320 34,218 - - 991 - 22,882 154,645 Purchase of property, plant and equipment 1,398 3,357 4,175 - - 55 - 1,406 10,391 Disposals (329 ) - (223 ) - - - - (125 ) (677 ) Disposals of subsidiaries (575 ) (4,211 ) (46 ) - - - - (5,617 ) (10,449 ) Translation differences (1,416 ) (1,179 ) (431 ) - - (45 ) - (135 ) (3,206 ) Balances at December 31, 2016 48,312 45,287 37,693 - - 1,001 - 18,411 150,704 Balances at January 1, 2015 52,292 50,698 42,959 140,066 34,332 5,331 44,758 42,254 412,690 Acquisitions of subsidiary (Note 26) - 1,352 400 - - - - - 1,752 Purchase of Property plant and equipment 2,843 1,574 2,965 - - 111 - 692 8,185 Disposals (566 ) (119 ) (10,675 ) - - (153 ) - (13,089 ) (24,602 ) Transfers - - 29 - - - - - 29 Disposals of subsidiaries - (68 ) (104 ) (140,066 ) (34,332 ) (4,184 ) (44,758 ) (2,276 ) (225,788 ) Translation differences (5,335 ) (6,117 ) (1,356 ) - - (114 ) - (4,699 ) (17,621 ) Balances at December 31, 2015 49,234 47,320 34,218 - - 991 - 22,882 154,645 Depreciation Accumulated at January 1, 2017 10,449 35,307 23,391 - - - - 15,573 84,720 Depreciation of the year 777 3,021 3,057 - - - - 1,028 7,883 Disposals - - (238 ) - - - - (175 ) (413 ) Translation differences 1,208 4,048 17 - - - - 1,661 6,934 Accumulated at December 31, 2017 12,434 42,376 26,227 - - - - 18,087 99,124 Accumulated at January 1, 2016 9,911 34,249 21,217 - - - - 17,579 82,956 Depreciation of the year 921 2,497 2,643 - - - - 1,484 7,545 Disposals - - (209 ) - - - - - (209 ) Disposals of subsidiaries - (499 ) (11 ) - - - - (2,956 ) (3,466 ) Other (28 ) - - - - - - (113 ) (141 ) Translation differences (355 ) (940 ) (249 ) - - - - (421 ) (1,965 ) Accumulated at December 31, 2016 10,449 35,307 23,391 - - - - 15,573 84,720 Accumulated at January 1, 2015 9,958 34,197 25,877 101,117 20,243 - - 30,037 221,429 Depreciation of the year 1,023 3,433 1,490 - - - - 1,862 7,808 Disposals - (12 ) (5,387 ) - - - - (10,413 ) (15,812 ) Disposals of subsidiaries - - (5 ) (101,117 ) (20,243 ) - - (641 ) (122,006 ) Translation differences (1,070 ) (3,369 ) (758 ) - - - - (3,266 ) (8,463 ) Accumulated at December 31, 2015 9,911 34,249 21,217 - - - - 17,579 82,956 Net balances at December 31, 2017 42,221 12,013 14,252 - - 1,467 - 4,530 74,483 Net balances at December 31, 2016 37,863 9,980 14,302 - - 1,001 - 2,838 65,984 Net balances at December 31, 2015 39,323 13,071 13,001 - - 991 - 5,303 71,689

Investments in associates

Investments in associates	12 Months Ended
	Dec. 31, 2017
Disclosure of associates [abstract]
Investments in associates	14 Investments in associates For the Year ended December 31, 2017 2016 2015 Balances at the beginning of the year 10,927 14,450 169,660 Translation differences 432 (44 ) (39,999 ) Share of loss in associates (15,841 ) (1,306 ) (69,317 ) Contributions 17,950 ( 2 13 54,317 Disposals of associates - (2,186 ) (40,275 ) Decrease ( 1 (33 ) - (59,936 ) Balances at the end of the year 13,435 10,927 14,450 ( 1 ( 2 Breakdown of the share of income or loss in associates is as follows: 2017 2016 2015 Caminos del Paraná S.A. 35 402 - Aeropuertos Andinos del Perú S.A. (9,338 ) 168 1,342 Sociedad Aeroportuaria KunturWasi S.A. (5,945 ) (565 ) (526 ) Inframérica Participacões S.A. - - (19,050 ) Inframerica Concessionaria do Aeroporto de Sao Goncalo do Amarante S.A. - - (52,908 ) Others (593 ) (1,311 ) 1,825 (15,841 ) (1,306 ) (69,317 ) Main Associates are as follows: Country of Percentage of ownership at December 31, Company Main activity incorporation 2017 2016 2015 2017 2016 2015 Aeropuertos Ecológicos de Galápagos S.A. (*) Airport Operation Ecuador 99.9 % 99.9 % 99.9 % 1,000 1,000 1,000 Sociedad Aeroportuaria KunturWasi S.A. (**) Airport Operation Perú 47.68 % 47.68 % 47.68 % - 5,787 6,460 Aeropuertos Andinos del Perú S.A. Airport Operation Perú 50.00 % 50.00 % 50.00 % 11,762 2,717 2,788 Quitotelecenter SA Shopping administrator Ecuador - - 40.00 % - - 2,311 Others - - - - 673 1,423 1,891 13,435 10,927 14,450 (*) Under the terms of the Galapagos Concession Agreement, the net income generated by the Company must be transferred entirely to the Dirección General de Aviación Civil (“DGAC”), however, the Group maintains the operational management of such company and therefore has significant influence. (**) On July 13, 2017, the Government of Peru notified the unilateral decision to rescind the concession agreement for the Nuevo Aeropuerto International de Chinchero. The Company has stated its intention to reach an agreement, however, if it is not achieved, will initiate legal proceedings as established in the concession agreement. In line with this, the Company notified the State of Perú of its disagreement with the unilateral resolution and its intention to begin a Direct Treatment procedure, such procedure as provided in the Concession Agreement. The Company also communicated the non-compliance of certain State obligations under the 1996 Bilateral Investment Agreement between Peru and Argentina for the promotion and protection of investments caused by the mentioned unilateral resolution. Summarized selected financial information of Sociedad Aeroportuaria Kuntur Wasi S.A. and Aeropuertos Andinos del Perú S.A., including the aggregated amounts of assets, liabilities, equity and profit or loss, is as follows: Aeropuertos 2017 Non-current assets 31,215 Current assets 4,690 Total assets 35,905 Non-current liabilities 2,430 Current liabilities 9,951 Total liabilities 12,381 Equity 23,524 Revenue 14,681 Income/(Loss) for the year (18,676 ) Other comprehensive income for the year 867 Total comprehensive income for the year (17,809 ) Aeropuertos Sociedad Aeropuertos Sociedad 2016 2016 2015 2015 Non-current assets 37,224 27,917 34,287 27,590 Current assets 7,959 2,566 4,103 498 Total assets 45,183 30,483 38,390 28,088 Non-current liabilities 33,626 15,837 29,155 13,010 Current liabilities 6,123 3,072 4,220 2,157 Total liabilities 39,749 18,909 33,375 15,167 Equity 5,434 11,574 5,015 12,921 Revenue 13,769 - 12,068 - Income/(Loss) for the year 336 (1,543 ) 2,305 (1,005 ) Other comprehensive loss for the year 83 196 (556 ) (1,359 ) Total comprehensive income/(loss) for the year 419 (1,347 ) 1,749 (2,364 )

Deferred income tax

Deferred income tax	12 Months Ended
	Dec. 31, 2017
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Deferred income tax	15 Deferred income tax Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate enacted in each country that are expected to apply in the period the temporary difference will reverse. (Uruguay: 25%, Argentina: 30% and 25% (see Note 11), Italy: 27.5%, Armenia: 20%, Brazil: 34%, Ecuador: 22%, Luxembourg: 22%). The evolution of deferred tax assets and liabilities during the years 2017, 2016 and 2015 are as follows: Deferred tax liabilities Property, plant and Other Total Balances at January 1, 2017 156,813 72,208 229,021 Increase/(Decrease) of deferred tax assets for the year (5,008 ) 8,645 3,637 Translation differences 2,715 (1,400 ) 1,315 Balances at December 31, 2017 154,520 79,453 233,973 Balances at January 1, 2016 167,229 55,926 223,155 Disposals of subsidiaries (387 ) - (387 ) Increase/(Decrease) of deferred tax assets for the year (6,121 ) 4,687 (1,434 ) Translation differences (3,908 ) 11,595 7,687 Balances at December 31, 2016 156,813 72,208 229,021 Balances at January 1, 2015 142,053 3,160 145,213 Acquisitions of subsidiary (Note 26) 50,965 54,093 105,058 Decrease of deferred tax assets for the year (13,308 ) (226 ) (13,534 ) Disposals of subsidiaries 1,895 (682 ) 1,213 Translation differences (14,376 ) (419 ) (14,795 ) Balances at December 31, 2015 167,229 55,926 223,155 Deferred tax assets Provisions Tax loss Other Total Balances at January 1, 2017 9,000 169,177 5,709 183,886 Increase of deferred tax assets for the year 1,014 43,435 1,031 45,480 Translation differences (3,411 ) (4,234 ) (722 ) (8,367 ) Balances at December 31, 2017 6,603 208,378 6,018 220,999 Balances at January 1, 2016 8,599 110,621 5,801 125,021 Disposals of subsidiaries (35 ) (1,135 ) - (1,170 ) Increase of deferred tax assets for the year 909 38,205 215 39,329 Translation differences (473 ) 21,486 (307 ) 20,706 Balances at December 31, 2016 9,000 169,177 5,709 183,886 Balances at January 1, 2015 9,787 40,838 10,938 61,563 Acquisitions of subsidiary (Note 26) - 96,907 450 97,357 Increase/(Decrease) of deferred tax assets for the year 673 (8,883 ) (399 ) (8,609 ) Disposals of subsidiaries (668 ) (15,237 ) (3,908 ) (19,813 ) Translation differences (1,193 ) (3,004 ) (1,280 ) (5,477 ) Balances at December 31, 2015 8,599 110,621 5,801 125,021 The recoverability analysis of deferred tax assets is as follows: For the Year ended December 31, 2017 2016 2015 Deferred tax assets to be recovered within 12 months 154 - - Deferred tax assets to be recovered after 12 months 135,399 104,051 51,889 Deferred tax liabilities to be recovered within 12 months (2,471 ) (197 ) (59 ) Deferred tax liabilities to be recovered after 12 months (146,056 ) (148,989 ) (149,964 ) Unrecognized deferred income tax assets The Group does not recognize deferred tax assets on tax loss carry forwards for which it is not probable to generate future taxable profits to utilize such tax losses. At December 31, 2017 an amount of USD 35 million (USD 27 and USD 15 at December 31, 2016 and 2015 respectively) has not been recognized within deferred tax assets because there is not sufficient evidence that there will be enough future taxable income where the losses are allocated. These tax loss carry forwards do not expire although there are certain deduction limits. Deferred income tax assets and liabilities are offset when (1) there is a legally enforceable right to set-off current tax assets against current tax liabilities and (2) when the deferred income taxes relate to the same fiscal authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. The following amounts, determined after appropriate set-off, are shown in the Consolidated Statement of Financial Position: For the Year ended December 31, 2017 2016 2015 Deferred tax assets 135,327 99,258 47,643 Deferred tax liabilities (148,301 ) (144,393 ) (145,777 )

Other receivables

Other receivables	12 Months Ended
	Dec. 31, 2017
Disclosure Of Other Receivables [Abstract]
Other receivables	16 Other receivables At December 31, 2017 2016 2015 Non-Current Tax credits 28,927 26,772 27,129 Receivables from related parties (Note 27) 2,127 4,781 12,635 Trust funds (**) 136,689 82,942 74,678 Prepaid expenses 234 891 338 Other (***) 5,416 2,688 2,511 173,393 118,074 117,291 Current Tax credits 29,948 23,346 18,992 Guarantee deposit (*) 121,614 96,759 17,085 Trust funds (**) - - 4,842 Receivables from related parties (Note 27) 13,203 4,244 5,252 Prepaid expenses 3,768 7,753 5,661 Other 14,529 5,105 5,069 183,062 137,207 56,901 (*) As of December 31, 2017 includes a time deposit of CAAP for USD 90.7 million in pledge of a loan of Inframérica Concessionária do Aeroporto de Brasilia S.A. with Banco Santander according to Note 21. As of December 31, 2016 includes legal deposit in Brazil for USD 76 million (none in 2015) related to the fixed contribution accrued in the current year from Inframérica Concessionária do Aeroporto de Brasilia S.A. (**) Funds are held by a trust, on which (***) As of December 31, 2017 includes fees related to Initial Public Offering project for USD 2.8 million. The fair value of financial assets within current other receivables approximates to its carrying amount. The fair value of financial assets within non-current receivables amounts to approximately USD 165 million at December 31, 2017 (USD 108 million as of December 31, 2016 and USD 103 million as of December 31, 2015). The fair value of these financial assets was calculated using a discounted cash flow (Level 3).

Inventories

Inventories	12 Months Ended
	Dec. 31, 2017
Disclosure Of Inventories [Abstract]
Inventories	17 Inventories At December 31, 2017 2016 2015 Finished goods 191 621 2,042 Supplies 2,531 2,467 2,071 Oil and byproducts 5,842 4,576 4,111 8,564 7,664 8,224

Trade receivables

Trade receivables	12 Months Ended
	Dec. 31, 2017
Disclosure Of Trade Accounts Receivable [Abstract]
Trade receivables	18 Trade receivables At December 31, 2017 2016 2015 Non-Current Accounts receivable 4,244 - 51 4,244 - 51 Current Accounts receivable 141,253 122,677 113,666 Trade receivables from related parties (Note 27) 1,130 1,484 5,423 Provision for bad debts (20,549 ) (14,551 ) (17,782 ) 121,834 109,610 101,307 The change in the provision for bad debts is as follows 2017 2016 2015 Balances as of the beginning of the year (14,551 ) (17,782 ) (13,652 ) Bad debts of the year (7,672 ) (1,976 ) (2,574 ) Acquisitions of subsidiary - - (5,944 ) Recoveries 268 2,248 - Write off 403 2,390 237 Translation differences 1,003 569 2,274 Disposals of subsidiaries - - 1,877 Balance as of end of year (20,549 ) (14,551 ) (17,782 ) The following table sets forth aging of trade receivables: Past due Trade Receivables Not due 1 - 180 days > 180 days At December 31, 2017 Non current/current accounts 146,627 35,799 94,838 15,990 Provision for bad debts (20,549 ) (915 ) (4,166 ) (15,468 ) Total trade receivables, net 126,078 34,884 90,672 522 Past due Trade Receivables Not due 1 - 180 days > 180 days At December 31, 2016 Current accounts 124,161 90,655 17,170 16,336 Provision for bad debts (14,551 ) (4,556 ) (2,718 ) (7,277 ) Total trade receivables, net 109,610 86,099 14,452 9,059 Past due Trade Receivables Not due 1 - 180 days > 180 days At December 31, 2015 Current accounts 119,089 84,712 16,181 18,196 Provision for bad debts (17,782 ) - (2,856 ) (14,926 ) Total trade receivables, net 101,307 84,712 13,325 3,270 Fair value of trade receivables approximate book value.

Other financial assets

Other financial assets	12 Months Ended
	Dec. 31, 2017
Disclosure of financial assets [abstract]
Other financial assets	19 Other financial assets At December 31, 2017 2016 2015 Non-current Time Deposits 2,500 - - Related parties (Note 27) - - 15,078 Other - 721 - 2,500 721 15,078 Current Debt service reserve account - 15,075 15,075 Related parties (Note 27) 3,621 7,769 8,270 Loans - - 1,986 Corporate Bonds 12,593 - - Time Deposits 23,500 7,349 12,482 Other 82 3,743 2,499 39,796 33,936 40,312 Fair value of other financial assets approximate book value.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2017
Cash and cash equivalents [abstract]
Cash and cash equivalents	20 Cash and cash equivalents At December 31, 2017 2016 2015 Cash to be deposited 1,483 1,313 1,344 Cash at banks 189,283 146,726 170,675 Time deposits 29,003 63,244 11,782 Other cash equivalents 1,832 1,705 438 221,601 212,988 184,239 The Group operates with investment grade - financial institutions. For the purposes of the cash flow statement, cash and cash equivalents include the following: At December 31, 2017 2016 2015 Cash and cash equivalents 221,601 212,988 184,239 Restricted cash (*) - (30,872 ) (30,346 ) Bank overdraft - - (4 ) 221,601 182,116 153,889 (*) Restricted cash balances excluded from cash and cash equivalents relate to guarantees of AA2000 (see Note 21). The cash flow statement does not include those transactions that have not represented cash inflows or outflows implied flow of funds.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2017
Borrowings [abstract]
Borrowings	21 Borrowings At December 31, 2017 2016 2015 Non-current Bank and financial borrowings (**) 453,428 551,431 487,021 Notes (*) 658,109 411,200 470,295 Other 2,118 3,041 3,000 1,113,655 965,672 960,316 Current Bank and financial borrowings (**) 311,902 52,671 53,129 Notes (*) 24,306 64,439 70,471 Loans with related parties (Note 27) 34,651 22,220 618 Bank overdrafts - - 4 Others 1,931 2,239 3,028 372,790 141,569 127,250 Total Borrowings 1,486,445 1,107,241 1,087,566 Changes in borrowings during the years are as follows: 2017 2016 2015 Balances at the beginning of the year 1,107,241 1,087,566 765,184 Acquisitions of subsidiary (Note 26) - - 332,976 Loans obtained 596,030 52,099 286,839 Loans paid (250,276 ) (142,693 ) (231,597 ) Interest paid (106,953 ) (48,564 ) (38,334 ) Disposals of subsidiaries - - (47,281 ) Accrued interest for the year 119,964 118,219 68,673 Translation differences 20,439 40,614 (48,894 ) Balances at the end of the year 1,486,445 1,107,241 1,087,566 The maturity of borrowings is as follows: 1 year or less 1 to 2 years 2 to 5 years Over 5 years Total At December 31, 2017 ( 1) 422,746 230,464 523,855 803,436 1,980,501 At December 31, 2016 ( 1) 132,756 187,150 418,061 762,595 1,500,562 At December 31, 2015 ( 1) 134,428 153,303 227,368 867,312 1,382,411 ( 1) The amounts disclosed in the table are undiscounted cash flows of principal and estimated interest. Variable interest rate cash flows have been estimated using variable interest rates applicable at the end of the reporting period. At December 31, 2017 2016 2015 Fair value of long-term borrowings ( 2) 1,498,385 1,128,407 1,113,117 1,498,385 1,128,407 1,113,117 ( 2) Valuation at quotation prices (not adjusted) in active markets for identical assets or liabilities Fair Value level 2 under IFRS 13 hierarchy. There are no financial instruments measured at fair value. (*) Notes include the following: - In 2007 Puerta del Sur S.A. issued 7.75% secured guaranteed notes for USD 87 million, due 2021. The principal balance of the Puerta del Sur Notes, together with accrued interest, will be repaid in 22 total installments, with individual installments occurring on April 29 and October 29 of each year beginning in 2011 and ending in 2021. The main covenants on these bonds are limitations on liens and encumbrances and compliance with certain financial ratios. Puerta del Sur may be limited to declare, make or pay any dividends unless the debt coverage service ratio exceeds 1.7x and the indebtedness ratio is less than 3.0. - In 2015, ACI Airport Sudamérica S.A. issued 6.875% senior secured guaranteed notes, for USD 200 million due in 2032. The principal balance will be repaid in 34 installments May 29 and November 29 of each year, commencing on May 29, 2016 while accrued interest will be repaid commencing on November 29, 2015. The main covenants on these bonds are limitations on compliance with certain financial ratios. - In 2014 Corporación América Italia S.A. issued 6.25% secured notes for €50 million due 2019. These notes are secured by a pledge of the shares of Dicasa Spain SLU (pre-conversion) or Dicasa S.A. (post conversion), and the shares representing Corporación America Italia S.A. holding in Toscana Aeroporti SpA, a pledge of certain intercompany loan receivable and the economic first ranking pledge in respect of all the shares representing 100% of the share capital of Corporación America Italia S.A. held by Dicasa S.A.. Main covenants on these bonds require compliance with certain financial ratios as well as restrictions on payment of dividends and limitations on certain lines of assets or increases in additional financial indebtedness. - In 2008 Terminal Aeroportuaria de Guayaquil S.A. issued notes for USD 28 million with a final maturity in 2016 and an interest accrued calculated with the rate published in the Central Bank of Ecuador in force from the date of issue (March 1, 2008) plus 2.5% to be adjusted every three months. In March 2016, they were totally cancelled. - Notes issued in April and December 2010 by AA2000, totalling USD 328 million maturing in 2020. Annual Interest rates on these notes are 10% and 10.75% respectively. As long as these notes are outstanding AA2000 is required to comply with certain commitments, such as certain limitations to liens on its assets, mergers, spin-offs, sale of assets, new debts, distribution of dividends and payment to its shareholders. Notes issued by AA2000 S.A., are secured by a collateral trust assignment of certain aeronautical revenue of AA2000. At December 31, 2016, the item cash and cash equivalents of the Statement of Financial Position included USD 30,872, corresponding to the abovementioned trust assignment (USD 30,346 at December 31, 2015). In March 2017, they were totally cancelled. - In 2008 Corona Trading Corp. issued 9.064% notes for USD 25 million maturing 2016. The holders of these notes benefit from a guarantee and a security package including the pledge of the shares in CAISA; Abafor and Corona. - On February 6, 2017, AA2000 issued 6.875% senior secured notes for a nominal amount of USD 400 million due 2027 with an issue price of 99.888% par value. The principal will be amortized in 32 equal quarterly installments as from May 1, 2019. The main covenants of these bonds require compliance with certain financial ratios as well as restriction to incur in additional debt and limitations on the payments of dividends if any . As of December 31, 2017 AA2000 was in compliance As a result of the renegotiation of its borrowings, the restrictions on distribution of dividends has significantly eased. (**) As of December 31, 2017 ignificant bank and financial borrowings include the following: Outstanding Company Lender Currency Maturity Interest Rate (In millions Capitalization 2 BNDES Brazilian Reales September 2032 Variable TJLP ( 1 98.6 Inframérica BNDES Brazilian Reales June 2032 Variable T.R.+ 3.14%+IPCA 2.2 Concessionaria do BNDES Brazilian Reales September 2032 Variable T.R.+ 3.14%+IPCA 5.8 Aeroporto Sao Goncalo BNDES Brazilian Reales September 2022 Fixed 2.5% 3.2 A do Amarante BNDES Brazilian Reales July 2032 Variable T.R.+ 3.14%+IPCA 1.5 BNDES Brazilian Reales July 2032 Variable T.R.+ 4.74%+IPCA 1.2 BNDES Brazilian Reales December 2028 Variable TJLP ( 1 218.4 A CAIXA Brazilian Reales December 2028 Variable TJLP ( 1 72.8 A CAIXA Brazilian Reales December 2017 Variable IPCA 5.7 A Inframérica CAIXA Brazilian Reales December 2023 Fixed 6% 4.8 A Concessionaria do Bradesco Brazilian Reales July 2022 Variable TJLP ( 1 0.3 D Aeroporto de Brasilia Bradesco Brazilian Reales July 2022 Variable Selic + 7.38% 0.1 D Santander Brazilian Reales June 2018 Variable CDI + 0.45% 90.9 A Citibank Brazilian Reales March 2018 Fixed 9% 14.6 C Pine Brazilian Reales January 2018 Variable CDI + 6.5% 9.7 C Terminal Aeroportuaria Banco Guayaquil SA USD 2019 Variable 6.86%-6.92% 4.1 D de Guayaquil S.A Banco Bolivariano CA USD 2019 Variable 6.92% 5.6 D Terminal de Cargas de Uruguay SA Santander Uruguay USD June 2020 Fixed 4.25% 1.1 D Toscana MPS Servicio capital Euro June 2022 Variable Euribor 6 month plus spread 9.3 B Aeroporti S.p.a. Banco de Innovación de Infraestructuras y Desarrollo Euro September 2027 Variable Euribor 6 month plus spread 34.4 D Credem Euro November 2018 Variable Euribor 3 month plus spread 6.0 D BPM Euro June 2022 Variable Euribor 3 month plus spread 0.5 D Armenia International Credit Suisse AG USD June 2022 Variable Libor+5.5% 57.1 B Airports CJSC Euro June 2022 Variable Euribor+5.5% 51.2 Corporación América Airports S.A. Goldman Sachs USD March 2019 Variable 7.63% 50.1 D Julius Bär USD December 2019 Fixed 2.40% 15.0 B Aeropuertos Argentina Banco Ciudad Argentine peso September 2018 Fixed 27.86% 1.0 D 2000 SA Aeropuerto de Bahía Blanca S.A. Banco de la Nación Argentina Argentine peso March 2019 Variable 4.75% 0.1 A Total 765.3 (**) As of December 31, 2016 significant bank and financial borrowings include the following: Outstanding Company Lender Currency Maturity Interest Rate (In millions Capitalization 2 BNDES Brazilian Reales September 2032 Variable TJLP ( 1 98.2 Inframérica Concessionaria BNDES Brazilian Reales June 2032 Variable T.R.+ 3.14%+IPCA 2.4 do Aeroporto Sao Goncalo BNDES Brazilian Reales September 2032 Variable T.R.+ 3.14%+IPCA 5.3 A do Amarante BNDES Brazilian Reales September 2032 Fixed 2.5% 3.9 BNDES Brazilian Reales July 2032 Variable T.R.+ 4.74%+IPCA 1.2 BNDES Brazilian Reales July 2032 Variable T.R.+ 3.14%+IPCA 1.6 BNDES Brazilian Reales December 2028 Variable TJLP ( 1 220 A Inframérica Concessionaria CAIXA Brazilian Reales December 2028 Variable TJLP ( 1 76.8 A do Aeroporto de Brasilia CAIXA Brazilian Reales December 2017 Variable IPCA 7.1 A CAIXA Brazilian Reales December 2023 Fixed 6% 5.7 A ABC Brazilian Reales April 2017 Variable CDI + 4.5% 3.5 D Terminal Aeroportuaria de Banco Guayaquil SA USD 2019 Variable 7.5%-8% 6.1 D Guayaquil S.A Banco Bolivariano CA USD 2019 Variable 7.50% 8.4 D Terminal de Cargas de Uruguay SA Santander Uruguay USD June 2020 Fixed 4.25% 1.5 D Toscana MPS Servicio capital Euro June 2022 Variable Euribor 6 month plus spread 10.2 B Aeroporti S.p.a. Banco de Innovación de Infraestructuras y Desarrollo Euro September 2027 Variable Euribor 6 month plus spread 32.7 D Armenia International Airports CJSC Credit Suisse AG USD June 2022 Fixed 7.89% 116.3 B Aeropuertos Argentina Banco Ciudad Argentine peso September 2018 Fixed 27.86% 2.3 D 2000 SA Banco Provincia Argentine peso June 2017 Fixed 26.42% 0.7 Aeropuerto de Bahía Blanca S.A. Banco de la Nación Argentina Argentine peso March 2019 Variable 4.75% 0.2 A Total 604.1 (**) As of December 31, 2015 bank and financial borrowings include the following: Outstanding Company Lender Currency Maturity Interest Rate (In millions Capitalization 2 BNDES Brazilian Reales September 2032 Variable TJLP ( 1 81.9 Inframérica Concessionaria BNDES Brazilian Reales June 2032 Variable T.R.+ 3.14%+IPCA 2.0 do Aeroporto Sao Goncalo BNDES Brazilian Reales September 2032 Variable T.R.+ 3.14%+IPCA 4.3 A do Amarante BNDES Brazilian Reales September 2022 Fixed 2.5% 3.8 BNDES Brazilian Reales July 2032 Variable T.R.+ 4.74%+IPCA 1.1 BNDES Brazilian Reales July 2032 Variable T.R.+ 3.14%+IPCA 1.4 BNDES Brazilian Reales December 2028 Variable TJLP ( 1 163.6 A CAIXA Brazilian Reales December 2028 Variable TJLP ( 1 56.9 A Inframérica Concessionaria CAIXA Brazilian Reales December 2028 Fixed 6% 1.7 A do Aeroporto de Brasilia CAIXA Brazilian Reales December 2017 Variable IPCA 4.9 A CAIXA Brazilian Reales December 2023 Fixed 6% 3.7 A Citibank Brazilian Reales September 2016 Fixed 17.10% - D Fator Brazilian Reales December 2016 Variable CDI + 3% 7.6 C Terminal Aeroportuaria de Banco Bolivariano C.A. USD 2016-2019 Variable 7.59%-8.90% 13.3 D Guayaquil S.A Banco Guayaquil S.A. USD 2016-2019 Variable 7.71% -8.88% 5.5 D Armenia International Airports CJSC Credit Suisse AG USD June 2022 Fixed 7.86% 131.9 B Toscana MPS Servicio capital Euro June 2022 Variable Euribor 6 month plus spread 10.7 B Aeroporti S.p.a. Banco de Innovación de Infraestructuras y Desarrollo Euro September 2027 Variable Euribor 6 month plus spread 38.3 D Aeropuertos Argentina 2000 SA Banco de la Provincia de Buenos Aires Argentine peso June 2017 Fixed 26.42% 7.36 D Aeropuerto de Bahía Blanca S.A. Banco de la Nación Argentina Argentine peso March 2019 Variable 4.75% 0.24 A Total 540.2 ( 1 IPCA: corresponds to the Brazilian consumer Price index) ( 2 B – Secured/unguaranteed C – Unsecured/guaranteed D - Unsecured/unguaranteed The Credit Facility Agreement between Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A and the Banco Nacional do Desenvolvimento Economico e Social (“BNDES”) pursuant to which BNDES provided a loan to Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A in November 2012, in an aggregate principal amount of R$ 329.3 million (USD 139.5 million) to finance the construction of the Natal Airport (issued in nine tranches with varying interest rates and maturity dates), is secured by the pledge of the shares of Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A, together with any dividends and distributions in connection therewith, as well as the fiduciary assignment of rights arising from the Natal Airport concession agreement and certain letters of guarantees issued by indirect shareholders and affiliates of Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. for an amount of USD 6.1 million. It also establishes a required pre-authorization by BNDES on payments of Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A dividends if exceeding 25% of net profits. Further, Inframérica Concessionária do Aeroporto de Brasilia also entered into credit facility arrangements with BNDES and Caixa Economica Federal (Caixa) for an aggregate principal amount of R$ 841 million (USD 356.4 million) in February 2014, which are secured by the pledge of Inframérica Concessionária do Aeroporto de Brasilia and Inframérica Participaçoes S.A. shares, the fiduciary assignment of rights arising from the Brasilia airport concession agreement and letters of guarantee issued by indirect shareholders and affiliates of Inframérica Concessionária do Aeroporto de Brasilia. It also establishes under certain circumstances a required pre-authorization by BNDES and Caixa on payments of Inframérica Concessionária do Aeroporto de Brasilia dividends if exceeding 25% of net profits and compliance of certain financial ratios. In December 2017, ICAB and ICASGA entered into amendments and extension agreements with BNDES with respect to their loans. With respect to the ICAB Loans, the amendment and extension agreements extended the final maturity and the interest-only payment terms of such loans for an additional two years, and provided an interest capitalization period for 50% of the interest due for two years. Also, such agreements increased the size of the credit facility commitments by an additional R$300 million (USD 90.7 million). With respect to the ICASGA Loans, the amendment and extension agreements extended the final maturity of such loans for an additional two years, extended the interest-only payment terms of such loans for an additional three years and provided an interest capitalization period for 50% of the interest due for two years. In connection with such amendment and extension agreements, ACI Airports S.à r.l. and CAAP have agreed to not to create any encumbrances on their shares of Inframerica, and not to sell, acquire, merge or spin-off assets or undertake any other action that results or that may result in a change in the current corporate structure of Inframerica or any change of control in Inframerica, without the prior consent of BNDES. ACI Airports S.à r.l. has agreed not to undertake any change of control in CAAP without the prior consent of BNDES. In addition, ACI Airports S.à r.l.has agreed to maintain a minimum credit rating of at least B- (the “Minimum Rating”) or a stand-alone rating (without including the sovereign rating) of at least BB+. The amendment and extension agreements also require additional security equivalent to the amount of twenty-four months of debt service for at least a two-year period (in the form of a bank guaranty, letter of credit, guaranty insurance or other acceptable modalities of guarantee), if the Minimum Rating is not maintained for any annual testing period. On December 14, 2017, ICAB entered into a banking letter of credit with Banco Citibank S.A. (the “Citibank Credit Agreement”) in the aggregate principal amount of R$48.0 million (USD 14.5 million). The loan under the Citibank Credit Agreement matures on March 14, 2018. Such loan is unsecured. The obligations under the Citibank Credit Agreement are absolutely and unconditionally guaranteed by ACI Airports S.à r.l. On December 19, 2017, ICAB entered into a short-term banking letter of credit with Banco Pine S.A. (the “Banco Pine Credit Agreement”) in the aggregate principal amount of R$32.0 million (USD 9.7 million). Obligations under the Banco Pine Credit Agreement are absolutely and unconditionally guaranteed by CAAP. The loan under the “Banco Pine Credit Agreement” matures on January 2018. On December 20, 2017, under the terms of the Banco Santander Bridge Loan Facility, ICAB issued a promissory note in the aggregate principal amount of R$300.0 million (USD 90.7 million), which matures on June 18, 2018. Loans under the Banco Santander Bridge Loan Facility are fully secured by (i) a cash deposit made by CAAP under a time deposit pledge agreement entered on December 19, 2017 between CAAP and Banco Santander, in the amount of R$300.0 million (USD 90.7 million) which is included in Guarantee deposit in Note 16. Such loans mature in 180 days as of the closing date thereunder; and (ii) a fiduciary assignment of ICAB’s account at Banco Santander where the funds from BNDES financings should be deposited. The Banco Santander Bridge Loan Facility is also guaranteed by Inframerica. The loans under the Banco Santander Bridge Loan Facility mature in 180 days. On December 15, 2015 Armenia International Airports CJSC entered into a senior secured dual-currency facility agreement with Credit Suisse AG (and other banks) for a principal amount up to USD 160 million, which is secured by: (a) the collateral assignment of all present and future rights arising from the Armenian Concession Agreement and other related agreement, a pledge over all present and future cash collateral bank accounts, a pledge over certain movable and immoveable assets related to the Zvartnots Airport and the pledge of Armenia International Airports CJSC shares. According to the loan agreement Armenia International Airports CJSC has restrictions to distribution of dividends, has to maintain the following ratios at a certain level: debt to EBITDA, Debt service coverage and adjusted debt service coverage ratio. According to this agreement, the analysis of the accomplished of these ratios must be made as of June 30 and December 31. As of December 31, 2017, Armenia International Airports CJSC was in compliance with all of its covenants. As of December 31, 2017 Armenia International Airports CJSC pledged cash held in bank accounts for USD 25,409 (USD 13,072 at December 31, 2016 and USD 18,975 at December 31, 2015) and all intangible assets and property and equipment for a total of USD 170,588 (USD 176,461 at December 31, 2016 and USD 185,914 at December 31, 2015). Toscana Aeroporti S.p.A, pursuant to the loan agreement with Banco de Innovación de Infraestructuras y Desarrollo/ MPS Servicio capital is required to comply with certain financial ratios. As of December 31, 2017, 2016 and 2015, Toscana Aeroporti S.p.A was in compliance with all of its covenants. Cash and cash equivalents of the Consolidated Statement of Financial Position includes € 1million, to secure the abovementioned loan. On December, 2017 CAAP entered into the Julius Baer Credit Agreement, pursuant to which Julius Baer & Co. Ltd. provided a loan in the aggregate principal amount of USD 15 million. Loan under the Julius Baer Credit Agreement is secured by cash collateral provided by a company controlled by the Group of the Shareholder and mature 24 months from the closing date thereunder. This guaranteed was released on February 2018 when the loan was repaid (see Note 31).

Other liabilities

Other liabilities	12 Months Ended
	Dec. 31, 2017
Disclosure Of Other Liabilties [Abstract]
Other liabilities	22 Other liabilities At December 31, 2017 2016 2015 Non-current Concession fee payable (*) 916,203 970,762 772,088 Advances from customers 31,909 27,922 17,680 Provisions for legal claims (****) 5,798 - - Provision for maintenance costs (**) 22,207 20,113 20,423 Other taxes payable 8,531 10,242 3,142 Employee benefit obligation (***) 9,068 8,498 8,139 Salary payable 916 772 1,006 Other liabilities with related parties (Note 27) 1,816 600 2,567 Other payables 10,344 10,539 22,256 1,006,792 1,049,448 847,301 Current Concession fee payable (*) 54,840 202,584 99,051 Other taxes payable 32,840 28,729 23,555 Salary payable 41,753 39,084 33,568 Other liabilities with related parties (Note 27) 33,132 31,369 27,197 Advances from customers 6,124 13,941 15,048 Provision for maintenance cost (**) 9,496 6,713 4,506 Expenses provisions 4,569 6,222 1,973 Provisions for legal claims (****) 3,127 5,878 4,730 Other payables 23,605 12,787 16,944 209,486 347,307 226,572 Maturity of the other liabilities is as follows: 1 year or less 1 - 2 years 2 - 5 years Over 5 years Total At December 31, 2017 188,192 94,590 306,318 2,520,425 3,109,525 At December 31, 2016 378,130 90,290 293,170 2,700,430 3,462,020 At December 31, 2015 237,620 72,130 233,630 2,307,160 2,850,540 The fair value of financial liabilities within current and non-current other liabilities approximates to its carrying amount. (*)The most significant amount include in concession fee payable are generated by the concession agreement between The Brazilian National Civil Aviation Agency – ANAC and Inframerica Concessionária do Aeroporto de Brasilia S.A. and Inframerica Concessionária do Aeroportode São Gonçalo do Amarante S.A. The Brazilian concession agreement establishes the payment of a fixed and variable concession fee. a) Fixed concession fee The Brasilia Airport concession agreement established a fixed concession fee of Brazilian Reales (R$) 4,501,132 (approximately USD 1,360,804), payable in 25 equal annual installments since inception of the concession period. The concession fee is adjusted for inflation annually based on the changes in the Brazilian IPCA. The Natal Airport concession agreement established an annual fixed concession fee of R$ 6,800 (approximately USD 2,056), payable as from the 37 th The Company initially recognized the present value of fixed concession fee against a concession asset in intangible assets. The liability is presented as current and non-current concession fee payable within other liabilities. The Company estimates this fixed concession fee to be divided in two parts: (a) Right of use if the airport operates at the existing operating capacity at the beginning of the concession, and (b) the second portion relates to the Company estimation of the value of the right of use after the infrastructure works that increase capacity of the airport. Changes in the liability related to the increase capacity of the airport are accounted for against the “Concession asset”. Changes in the liabilities due to passage of time and inflation adjustment are recognized against profit or loss of the period. ICAB has prepaid approximately 45% of the concession fees ($R 118.9 approximately USD 36 million) due in 2018 under the Brasilia Concession Agreement and ICASGA has prepaid 100% of the concession fees ($R 13.1 approximately USD 4 million) due in 2018 under the Natal Concession Agreement. On December 20, 2017, the Group entered into amendments of each of the Brasilia Concession Agreement and the Natal Concession Agreement in connection with such prepayments. As a result of the amendments aforementioned, the future concession fee payment schedule has changed, aiming to maintain the same net present value (“NPV”) to the project as determined under Federal Law No. 13,449/17. The effect of the amendments of the contracts are included in the line Others in the Changes of the year detailed below. b) Variable concession fee The concession agreement for the Brasilia Airport requires payment of an annual fee of 2% of aeronautical and commercial revenues with a cap annually established by the regulatory authority in Brazil (ANAC). After that limit, concession fee is calculated at 4.5%. Changes in the year of the Concession fee payable is as follows: 2017 2016 2015 Values at the beginning of the year 1,173,346 871,139 38,739 Acquisition of subsidiaries (Note 26) - - 836,258 Financial result 98,122 107,408 2,039 Concession fees 162,117 146,971 133,846 Payments (325,454 ) (136,092 ) (136,809 ) Payments in advance (40,126 ) - - Others (84,075 ) 9,132 - Translation differences (12,887 ) 174,788 (2,934 ) At the end of the year 971,043 1,173,346 871,139 (**) Changes in the year of the Provision for maintenance costs is as follows: 2017 2016 2015 Balances at the beginning of the year 26,826 24,929 51,188 Accrual of the year 2,822 4,679 5,391 Use of the provision (1,507 ) (1,906 ) (2,580 ) Disposals of subsidiaries - - (25,152 ) Translation differences 3,562 (876 ) (3,918 ) Balances at the end of the year 31,703 26,826 24,929 (***)TAGSA and Toscana have post-employment benefits The assumptions used for the purposes of valuation of Toscana Aeroporti long term benefits at December 31, 2017 are: - Annual discount rate: 1.3% (1.31% in 2016 and 2.03% in 2015) - Annual inflation rate: 1.5% (1.5% in 2016 and 1.75% in 2015) - Annual employee termination benefit increase rate: 2.63% (2.63% in 2016 and 2.81% in 2015) The iBoxx Eurozone Corporate AA 10+ index has been selected as the discount rate to be used, as the term of 10 or more years is comparable to the average remaining period of service of the personnel subject to the long term benefit. . The sensibility in relation with the provision of Toscana is as follows: Assumption Annual discount rate Annual rate of inflation Annual turnover rate Variation rates 0.5 % (0.5 )% 0.25 % (0.25 )% 2.5 % (2.5 )% Provision for salary payable 6,172 6,856 6,606 6,399 6,395 6,557 The assumptions used for the valuation of Terminal Aeroportuaria de Guayaquil S.A. at December 31, 2017 are: - Annual discount rate: 4.02% (4.14% in 2016 and 4.36% in 2015) - Annual turnover rate: 11.1% (11.51% in 2016 and 13.49% in 2015) - Annual employee termination benefit (in years): 6.61 (5.63 in 2016 and 5.01 in 2015) - Annual employee mortality and disability rate: TM IESS 2002 (TM IESS 2002 in 2016 ) (1) - Annual employee future wage increase: 1.5% (3% in 2016 and 2015) (1) Mortality Table “Instituto Ecuatoriano de Seguridad Social” The sensibility in relation with the prevision of TAGSA is as follows: Assumption Annual discount rate Annual employee future Annual turnover rate Variation rates 1 % (1 )% 1 % (1 )% 5 % (5 )% Provision for salary payable 1,068 1,406 1,410 1,062 1,204 1,246 Changes of the provision in the year is as follows: 2017 2016 2015 Balances at the beginning of the year 8,498 8,139 6,198 Actuarial gain/loss (in other comprehensive income) (323 ) 403 (475 ) Interest for services 165 239 164 Service Cost 250 177 21 Amounts paid in the year (487 ) (223 ) (487 ) Contributions - - 3,322 Translation differences 965 (237 ) (604 ) At the end of the year 9,068 8,498 8,139 The amounts shown in the Statement of Comprehensive Income for USD 18 in 2017 (USD (307) in 2016 and USD 334 in 2015) correspond to the actuarial income of USD 26 (USD 403 in 2016 and USD 475 in 2015), net of taxes of USD 8 (USD 96 in 2016 and USD 141 in 2015). (****) 2017 2016 2015 Balances at the beginning of the year 5,878 4,730 935 Accrual of the year 3,661 2,772 1,157 Use of the provision (810 ) (1,089 ) (974 ) Acquisition of subsidiary (Note 26) - - 4,117 Translation differences 196 (535 ) (505 ) Balances at the end of the year 8,925 5,878 4,730

Trade payables

Trade payables	12 Months Ended
	Dec. 31, 2017
Disclosure Of Trade Payable [Abstract]
Trade payables	23 Trade payables At December 31, 2017 2016 2015 Non-current Trade payables with related parties (Note 27) - - 767 Trade payable with suppliers 3,302 1,663 1,329 3,302 1,663 2,096 Current Trade payables with suppliers 122,145 104,914 116,711 Trade payables with related parties (Note 27) 5,667 8,625 4,445 127,812 113,539 121,156 Fair value of trade payables does not materially differ from book value.

Equity

Equity	12 Months Ended
	Dec. 31, 2017
Disclosure Of Equity [Abstract]
Equity	24 Equity a) Free distributable reserves The disclosure of movements at each period are as follows: 2017 2016 2015 Conversion (Note 1) (1,499,980 ) - - Cash contributions 6,600 20,494 8,303 Refund of cash contributions (28,893 ) - - Contributions in shares (*) - 1,506,867 - Contributions by assignment (**) - 49,960 320,798 (1,522,273 ) 1,577,321 329,101 (*) This corresponds to the fair value of the contribution of the shares of AIA, measured in accordance with Luxembourg laws and regulations. (**) This corresponds to the contribution of accounts receivable from related parties made by the Company’s shareholder. b) Other reserves The movements of Other Reserves of the owners of the Company is as follows: 2017 2016 2015 At the beginning of the year (1,344,022 ) 248,677 1,178,534 Distribution in cash from AIA - (36,076 ) (74,058 ) Refund of contributions (*) - - (497,660 ) Non-cash distribution from AIA (**) - (*) ) (*) ) Cash contribution from AIA - 496 - Fair value adjustments (***) - (*) ) (59,719 ) Remeasurement of defined benefit obligations net for income tax 14 (292 ) 344 (1,344,008 ) (1,344,022 ) 248,677 (*) This corresponds to reimbursement of previous contributions from the former shareholder. (**) This corresponds to distributions of dividends in kind from AIA to its former shareholder. (***) This corresponds to the fair value of the contribution in shares (see footnote 1 in note 24.a) above), as the subsidiaries contributed were retroactively combined in the combined financial statements as of December 31, 2016. c) Other comprehensive income The movements of the reserve of other comprehensive income for the year of the owners of the Company is as follows: Currency Remeasurement Share of other Income Transfer from Total Balances at January 1, 2017 (212,080 ) 106 (40,043 ) (54 ) 63,402 (188,669 ) Continuing operations Other comprehensive income (loss) for the year (29,011 ) 17 432 (3 ) - (28,565 ) For the year ended December 31, 2017 (241,091 ) 123 (39,611 ) (57 ) 63,402 (217,234 ) Balances at January 1, 2016 (174,950 ) 489 (39,999 ) (145 ) 58,218 (156,387 ) Continuing operations Other comprehensive income (loss) for the year (37,414 ) (383 ) (44 ) 91 1,191 (36,559 ) Discontinued operations Other comprehensive income (loss) for the year 284 - - - 3,993 4,277 For the year ended December 31, 2016 (212,080 ) 106 (40,043 ) (54 ) 63,402 (188,669 ) Balances at January 1, 2015 - - - - - - Continuing operations Other comprehensive income (loss) for the year (112,455 ) 489 (39,999 ) (145 ) - (152,110 ) Discontinued operations Other comprehensive income (loss) for the year (62,495 ) - - - 58,218 (4,277 ) For the year ended December 31, 2015 (174,950 ) 489 (39,999 ) (145 ) 58,218 (156,387 ) (*) Income tax relating to OCI amounts to Remeasurement of defined benefit obligations. The movement was recognized as other comprehensive income of other reserves. d) Non – controlling interest The movements of the non- controlling interest for the year is as follows: 2017 2016 2015 At the beginning of the year 354,174 371,342 351,809 Shareholder contributions - 9,018 - (Loss)/income for the year 3,400 (4,519 ) 9,801 Other comprehensive loss Currency translation 3,426 (12,340 ) (54,142 ) Remeasurement of defined benefit obligations 9 (20 ) (14 ) Reserve for income tax (5 ) 5 4 3,430 (12,355 ) (54,152 ) Changes in non-controlling interest Business combinations - - 131,954 Discontinued operations - 311 (66,656 ) Changes in the participations 197 - (1,414 ) Dividends approved (25,842 ) (9,623 ) - (25,645 ) (9,312 ) 63,884 Non-controlling interest at the end of the year 335,359 354,174 371,342

Contingencies, commitments and

Contingencies, commitments and restrictions on the distribution of profits	12 Months Ended
	Dec. 31, 2017
Disclosure For Contingencies Commitments And Restrictions On Distribution Of Profits [Abstract]
Contingencies, commitments and restrictions on the distribution of profits	25 Contingencies, commitments and restrictions on the distribution of profits a. Contingencies CAAP and its subsidiaries are, from time to time, subject to various claims, lawsuits and other legal proceedings, including customer claims, in which third parties are seeking payment for alleged damages, reimbursement for losses or indemnity. Some of these claims, lawsuits and other legal proceedings are subject to substantial uncertainties. Accordingly, the potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management, with the assistance of legal counsel, periodically reviews the status of each significant matter and assesses potential financial exposure. If a potential loss from a claim, lawsuit or proceeding is considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements, and take into consideration the Group’s litigation and settlement strategies. The Company believes that the aggregate provisions recorded for losses in these financial statements, are adequate based upon currently available information. AA2000 legal proceedings - During 2013 and 2014 the Argentine Federal Administration of Public Income initiated three different tax assessments proceedings against AA2000, challenging the income tax deduction made by AA2000 from certain services rendered by related companies and third parties and expenses. Two of such tax assessments proceedings were initiated against AA2000 with respect to income tax deductions from services rendered by third parties. On November 30, 2015, AA2000 agreed to pay the amounts claimed for these deductions through a facility payment regime set forth by General Resolution No. 3806. Pursuant to this regime, AA2000 must pay AR$18.4 million (USD 1 million) in 36 consecutive, monthly, installments. As of December 31, 2017 the outstanding amount is AR$6.6 million (USD 0.4 million) which is included in other taxes payable (AR$12.7 million, USD 0.8 million as of December 31, 2016). The third and most significant claim was initiated by the Argentine Federal Administration of Public Income against AA2000 and its consolidated subsidiaries for income taxes and income tax on undocumented exemptions. The Argentine Federal Administration of Public Income considered that certain management and administrative services provided by CAS (one of its shareholders) were not actually rendered to AA2000. On August 3, 2016, AA2000 appealed the ruling of the assessment proceeding to the Argentine National Tax Court. In addition, in 2013, a separate criminal proceeding was initiated by a third party against two former directors of AA2000 based on the same facts as of the assessment proceeding mentioned above. The Court of first instance dismissed the claim and the prosecutor appealed the ruling. The Court of Appeals reversed the prior ruling based on the lack of evidence obtained in the original proceeding and ordered the Court of first instance to expand the fraud investigation and to determine the possible connection with the assessment proceeding mentioned above. After further investigation, the Court of first instance ratified the dismissal of AA2000, which the prosecutor subsequently appealed. The Court of Appeals once again dismissed the case against AA2000 based on the connection of both proceedings and ordered the consolidation of the fraud and the tax investigations. Consequently, the Court of first instance on economic and criminal matters No. 11 is now the intervening court for both proceedings. Given that the facts which originated both claims were the same, both proceedings continued as a unified criminal matter on income taxes and income tax on undocumented exemptions. Although management and legal advisors have strong arguments to prove that the management and administrative services were in fact rendered to AA2000 by CAS, on February 21, 2017 AA2000 complied with the extraordinary regime of regularization of tax obligations provided by Law No. 27,260 published in the Argentine Official Gazette on July 22, 2016. The total amount that AA2000 must pay for such extraordinary regime is USD 10.5 million in 60 consecutive, monthly payments as from March, 2017 which is included in other taxes payable. On August 25, 2017, the prosecutor challenged the request made by AA2000 to suspend the criminal proceeding, arguing that although the company complied with the extraordinary regime for the services rendered by CAS, it failed to include under this extraordinary regime the services rendered by third parties. Legal advisors and management believe that once all the installments under the extraordinary regime are fully paid, the action to prosecute tax claims based on these facts will be fully extinguished. Pursuant to the Final Memorandum of Agreement entered into with the Argentine Government, dated April 3, 2007, AA2000 is required to assess and remediate environmental damage at their airports in Argentina. In August 2005, a civil action was brought by Asociación de Superficiarios de la Patagonia In August 2011, Asociación de Superficiarios de la Patagonia brought a civil action against AA2000 in an Argentine administrative federal court in the City of Buenos Aires ( Justicia Federal en lo Contencioso Administrativo de la Capital Federal The administrative federal court appointed the Argentine Center of Engineers ( Centro Argentino de Ingenieros Asociación de Superficiarios de la Patagonia The aforementioned do not constitute a contingency as soon as their execution is ordered, the disbursements must be considered included in the contractual investment plan. Brazil legal proceedings Administrative Proceedings before the Brazilian ANAC Inframérica Concessionária do Aeroporto de Brasilia S.A. filed claims before the Brazilian ANAC on December 29, 2015, in the total amount of R$758.0 million (USD 253.1 million), requesting the economic re-equilibrium of Inframérica Concessionária do Aeroporto de Brasilia’s concession agreement based on (among other things) additional construction works required to complete the terminals and the runway that were not provided for in the concession agreement, and the negative impact of the issuance of new rules and regulations by the Brazilian Ministry of Health, which reduced Inframérica Concessionária do Aeroporto de Brasilia’s revenues in connection with the use of the cargo terminal. Claims in the amount of R$454.1 million (USD 120.2 million) were denied by the Brazilian ANAC, and Inframérica Concessionária do Aeroporto de Brasilia expects to initiate an arbitration proceeding with respect to the denied claims. The remaining claims are under review by the Brazilian ANAC. In addition, on June 29, 2017, Inframérica Concessionária do Aeroporto de Brasilia filed new claims with the Brazilian ANAC in the amount of R$ 737 million (USD 240 million) requesting the economic re-equilibrium of ICAB’s concession agreement based on (among other things) the loss of revenues as a result of modifications to the rules and regulation affecting the air traffic system in Congonhas airport. These claims are under review by the Brazilian ANAC. On December 29, 2015, Inframerica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. filed claims in the total amount of R$1.0 billion (USD 263.1 million) before the Brazilian ANAC requesting the economic re-equilibrium of Inframerica Concessionária do Aeroporto de São Gonçalo do Amarante’s concession agreement based on inconsistencies in the parameters related to the viability study prepared by the government (EVTEA) under the tender documents, inconsistencies related to the control tower and additional capital expenditures required to complete the airport that were not provided for in the concession agreement. Claims in the amount of R$956.8 million (USD 251.7 million) were denied by the Brazilian ANAC, and Inframerica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. expects to initiate an arbitration proceeding with respect to the denied claims. The remainders of the claims are under review by the Brazilian ANAC. Civil Proceedings Inframérica and its subsidiaries are defendants in various civil lawsuits, which individually and in the aggregate are not material. In addition, we filed an ordinary action against the Brazilian ANAC to suspend the payment of the annual granting fees related concession ( outorga anual Inframérica Participações S.A. Inframérica Participações S.A. identified three payments totaling R$ 858 made during 2014, when Infravix Participações S.A. was still an indirect shareholder of the Inframérica Participações S.A., to individuals or entities for which Inframérica Participações S.A. was unable to clearly identify a proper purpose. Through the date of the issuance of these financial statements Inframérica Participações S.A. has received no official notice that it is under investigation by Brazilian authorities in connection with these payments. Inframérica Participações S.A. could be exposed to reputational harm and other adverse effects in connection with these payments. Additionally, if these payments are ultimately found to have been improper fines and sanctions may be applied, as well as other penalties. Based on the opinion from external legal counsel of Inframérica Participações S.A., that made an assessment based on a criminal, civil and administrative legislation, Inframérica Participações S.A. does not expect, considering the facts and circumstances known to date, losses to be material. TAGSA legal proceedings In June 2005, TAGSA was granted the administration and operation of certain duty-free areas for a 20 year-period, in order to develop commercial and service activities, as well as the improvement of existing facilities and the construction of new ones. Duty-free areas are entitled to certain tax benefits, including a 100% exemption from income tax, as well as VAT, among others. In 2010, a new Production, Commercial and Investment Code was enacted in Ecuador, which repealed the law that created tax free zones. However, transitional provisions in such code included a grandfather clause, which determined that concessions granted by previous regulations were not affected by these new dispositions. Notwithstanding that, tax authority rewiewed 2010, 2012 and 2013 fiscal years and didn’t recognize the tax benefits granted by the Free Zones Law, and assessed additional income tax charges for the fiscal years 2010, 2012 y 2013 of U.S$1.9 interests and penalties included and U.S.$1.4 and U.S.$2.5 million respectively, interests and penalties not included. TAGSA paid the amount regarding 2010’s fiscal year and disputed the validity of 2012 and 2013´s claims, based on the opinion of its tax and legal advisors. Fiscal years 2014-2016 are open for review, but TAGSA’s management consider that the company has strong arguments to support its position. Peruvian Proceedings Unilateral Termination On July 13, 2017, the Government of Peru notified the unilateral decision to rescind the concession agreement for the Nuevo Aeropuerto International de Chinchero. On July 18, 2017, Kuntur Wasi formally notified the Peruvian Government of its disagreement with the unilateral resolution because: (i) Kuntur Wasi had fulfilled all of its contractual commitments, (ii) there was no valid justification to unilaterally terminate the Kuntur Wasi Concession Agreement and (iii) if the unilateral termination were exercised, the Peruvian Government would be obliged to compensate all the damages suffered by Kuntur Wasi. Likewise, Kuntur Wasi notified the Peruvian Government of its decision to begin the direct treatment procedure to resolve the controversy in accordance with the provisions of section 16.5 of the Concession Agreement. On January 18, 2018, the Peruvian Government unilaterally terminated this treatment procedure without reaching an agreement yet. Pursuant to the Concession Agreement, negotiations should continue through an arbitration procedure. On September 11, 2017, Corporación América sent written notice to the Peruvian Government notifying the Peruvian Government of its non-compliance with certain Peruvian Government obligations under the 1996 Bilateral Investment Agreement between Peru and Argentina for the promotion and protection of investments (“BIT”) caused by the mentioned unilateral resolution, which (i) constitutes a dispute between us (as a shareholder of Kuntur Wasi and an investor in Peru) and the Peruvian Government under the BIT, and (ii) has caused damages to us. The amount of damages sought by Kuntur Wasi in connection with the termination has not yet been determined. State and Money Laundering Complaint On February 24, 2017, the Peruvian Prosecutor initiated an investigation under Peruvian Law against certain management of Kuntur Wasi, for alleged conspiracy with governmental authorities to obtain the concession for the operation of the new Cusco International Airport in Chinchero. On October 10, 2017, upon expiration of the statutory term for the completion of the initial investigation the Peruvian prosecutor filed an amendment to the complaint, which is now based on alleged instances of crimes against the state and money laundering by Kuntur Wasi under the Organized Crime Law. As set forth by the Peruvian prosecutor in this amended complaint, the investigation will now center around Kuntur Wasi not having funding available at the time of the award of the concession to complete the bid project, the provision of certain loans and payments made to Kuntur Wasi from Cedicor, APP, Converse Bank and Liska, and payments made to Proyecta y Construye S.A. from Kuntur Wasi in connection with engineering services for the construction of the Cusco Airport. The Superior Court of Justice of Lima, Perú (confirming the judgments of the First Instance Court) resolved on January 29, 2018 and January 30, 2018, that: (a) until the prosecutor does not properly support the allegation of money laundering, the Kuntur Wasi’s Peruvian management crime is not configured. The Prosecutor should eventually remake the accusation and properly support his request; and (b) the request for the lifting of bank secrecy of Messrs. Carlos Vargas Loret de Mola, Antonio Guzman Barone, and Jose Balta (KW Peruvian management), as well as of Kuntur Wasi, was rejected considering that the Prosecutor request has lack of proof. As a result, the Prosecutor’s Office should have no elements to continue with this money laundering case. Without prejudice of this, we will vigorously defend against any of these allegations, as we believe such allegations are without merit. Management and legal advisors have strong arguments to defend against these allegations, considering that such allegations are without merit. b. Commitments Country Concession Number of Concession Current Extension Details Argentina AA2000 35 1 1998 2028 10 years NQN 1 2001 2021 5 years BBL 1 2008 2033 10 years Italy TA (SAT) 1 2006 (2014) 2046 TA (ADF) 1 2003 (2014) 2043 Brazil ICASGA 1 2012 2040 5 years ICAB 1 2012 2037 5 years Uruguay Puerta del Sur 1 2003 2033 CAISA 1 1993 (2008) 2019 Ecuador TAGSA 1 2004 2024 ECOGAL 1 2011 2026 Armenia AIA 2 2002 2032 Option to renew every 5 years Peru AAP 5 2011 2036 Extendable to 2071 Total 52 1. Includes Termas de Rio Hondo Airport, which is operated by AA2000 but is pending government approval to be included in the AA2000 concession. Argentine Concession Agreement In February 1998 AA2000 was awarded the concession agreement for the use, operation and management of 33 airports in Argentina (the “Group A” airports). The concession agreement was subsequently amended and supplemented by the memorandum of agreement it entered into with the Argentine National Government on April 3, 2007 (the “Memorandum of Agreement”). References to the concession agreement amended and supplemented by the Memorandum of Agreement is made as the “Argentine Concession Agreement”. Likewise and in order to be able to continue with the policies related to the expansion of the aviation market, the National State of Argentina issued Decree No. 1092/17 on December 22, 2017 by which it incorporated the Palomar Airport, located in the Province of Buenos Aires, to the National Airport System. In order to incorporate the said Airport into "Group A", on December 27, 2017 the National Government issued Decree No. 1107/17. As a result, as of such date, the Company is responsible for the exploitation, administration and operation of Palomar Airport under the terms set forth in the Concession Contract approved by Decree No. 163/97 and the Adjustment Agreement Act. of the Concession Contract approved by Decree No. 1799/07. The Argentine Concession Agreement was granted for an initial period of 30 years through February 13, 2028. The Company may extend the term of the Concession for an additional period of up to 10 years. The Company has made a formal request to the Argentine National Airports Regulator ( Organismo Regulador del Sistema Nacional de Aeropuertos, In addition, under the terms of the Argentine Concession Agreement, the Argentine National Government will have the right to buyout our concession at any time as from February 13, 2018. If such right is exercised, the Argentine National Government is required to indemnify AA2000. Under the terms of the Argentine Concession Agreement, AA2000 is required to, on a monthly basis, allocate an amount equal to 15% of revenues (in Argentine pesos) to the Specific Allocation of Revenue, as follows: -11.25% of total revenue to a trust for the development of the Argentine National Airport System to fund capital expenditures for the Argentine National Airport System. Of such funds, a 30% will be previously deducted for deposit in an account to the order of the ANSES. The Secretary of Transportation, following the ORSNA’s approval, will determine which construction projects within the Argentine National Airport System shall be implemented with such funds, whether at airports operated by AA2000 or not.AA2000 may file proposals with the ORSNA which, together with the ORSNA’s proposals, shall be communicated to the Secretary of Transportation, which shall decide the application of the trust funds. - 1.25% of total revenue to a fund to study, control and regulate the Argentine Concession, which shall be administered and managed by the ORSNA. - 2.5% of total revenue to a trust for investment commitments for the “Group A” airports of the Argentine National Airport System. (Those operated by AA2000) AA2000 may cancel the obligations to provide amounts of money to the trust through the assignment of credits whose cause and/or title are the result of the provision of aeronautical and/or airport services performed within the framework of the concession, with the previous intervention of The Secretary of Transportation and the authorization of the ORSNA. The Argentine Concession Agreement requires AA2000 to formulate a master plan for each of its airports. Each master plan establish the investment commitments to be received by each airport during the term of the Argentine Concession Agreement, taking into account the expected demand of aeronautical and commercial services. AA2000 is required to make capital expenditures in accordance with the investment plan commitment included in the Argentine Concession Agreement. Total investment commitments between January 2006 and 2028 are AR$ 2,158 million (calculated in December 2005 values). As of December 31, 2017, AA2000 has invested AR$ 1,876.9 million (calculated in December 2005 values) under the investment plan. In order to guarantee performance of the works under the investment plan, AA2000 is required to enter into a guarantee with a value equal to 50% of the investment planned for the year before March 31 of each year. AA2000 granted a surety bond in the amount of AR$ 1,465 million (approximately USD 78.6 million) to comply with the investment plan guarantee required by the Argentine Concession Agreement. AA2000 sets up a guarantee for concession contract fulfilment for the total amount is for AR$ 410,5 million (approximately USD 22 million). In addition, AA2000 is required to maintain a civil liability insurance policy Covering personal and property damages, loss or injury in an amount of at least AR$ 300 million. AA2000 has taken out insurance policy for an amount of USD 500 million covering liabilities that may arise under civil law in connection with the management and development of work in the airports. As a result of the renegotiation of the concession contract, in 2006 AA2000 has delivered to the Argentine Government preferred shares which are convertible into common shares of AA2000. Such preferred shares have a nominal value of AR$1 each and have no voting rights. Such shares are redeemable by AA2000 at any time at nominal value plus accrued interest. Beginning in 2020, the Argentine Government has the option to convert all of the preferred shares into common shares of AA2000, up to a maximum amount of 12.5% per year of the total amount of the initial preferred shares issued to the Argentine Government, to the extent AA2000 has not previously redeemed such annual percentage for the respective year. The preferred shares accrue an annual dividend of 2% of the nominal value of the preferred shares, which shall be paid in kind with delivery of additional preferred shares and will be accumulated in the event AA2000 does not have sufficient retained earnings during a given fiscal period. In addition, the preferred shares have a priority over common shares in the event of liquidation. There are 616,914,353 preferred shares outstanding at December 31, 2017 (604,817,993 at December 31, 2016). In addition to the airports operated under the AA2000 Concession Agreement, the Group also operates the Neuquén Airport, the Bahía Blanca Airport and the Termas de Rio Hondo Airport. In 2001, the Government of the Province of Neuquén together with the ORSNA awarded the Group the concession agreement to operate the Neuquén Airport for an initial term of 20 years, which is set to expire in 2021. Likewise, in 2008 the Municipality of Bahia Blanca together with the ORSNA awarded the Group the concession to operate the Bahía Blanca Airport for an initial term of 26 years, which is set to expire on 2033. Both concession agreements provide the possibility of extension upon approval. The Group operates the Termas de Rio Hondo Airport in Argentina, pursuant to an agreement between AA2000 and the Province of Santiago del Estero, but there is no written concession agreement with the Argentine Government. As of the date of these consolidated financial statements, there are certain regulatory approvals pending to include the Rio Hondo Airport within the AA2000 Concession Agreement. The Neuquén Airport, the Bahía Blanca Airport and the Termas de Rio Hondo Airport are not material to the Group´s business. Uruguayan Concession Agreements Puerta del Sur S.A. (“PDS”) signed with the Uruguayan Government a concession agreement which grants until the year 2033 the management,exploitation, construction, maintenance and operation of Carrasco International Airport “Gral. Cesáreo L. Berisso”. Consorcio Aeropuertos Internacionales S.A. signed with the Uruguayan Government a concession agreement which grants until the year 2019 for the reconstruction, maintenance and partial operation of the services of International Airport C/C Carlos A. Curbelo (Laguna del Sauce) – Punta del Este. Obligations Assumed by PDS as Concessionaire - Use the assets, facilities, material and human resources for associated with the provision of aeronautical and commercial services under the concession agreement exclusively for that purpose. - Make investments in construction, new works, repair, upgrade, preservation and maintenance, as described in the technical attachments to the concession agreement, according to the investment schedule. In addition, perform the necessary investments in response to the growth in the national and international traffic of passengers and cargo. - Take on all necessary measures so that the Carrasco International Airport is at least under the following categories: to be included in the following categories of the International Air Transport Association (“I.A.T.A”): (a) Category 1 Instrumental; (b) Category 4E regarding the state of the landing strip; (c) Category 9 regarding fire protection; and (d) at least in Category C of I.A.T.A). - Pay the annual concession fee under the terms and conditions of the concession agreement. - Maintain the guarantees and insurance policies valid and current. Keeping and maintaining the facilities received under concession in perfect operating conditions and in full operations ( and replacing them as deemed necessary in the event of destruction or obsolescence and updating them to reflect the latest technological advances. The Integrated Management Contract also establishes: - The contract term shall be 20 years as from November 21, 2003, and may be extended for a further 10-year term, at PDS's request and subject to the approval of the Uruguayan government. - An - The maximum prices to be charged by PDS at the Carrasco airport for landing, aircraft, parking, cargo and aircraft services. - The fee payable to the National Airport Infrastructure and Civil Aviation Authority in Uruguay ("DINACIA"), as well as the frequency of those payments. - The amount of the guarantees to be provided in favor of the Uruguayan Ministry of Defense for: - the obligations of the purchaser (the Company) to hire an airport operator, investments and payment of capital; and - the obligations of PDS for performance under the concession agreement. - PDS is required to engage and maintain an airport operator who, in turn, is in charge of providing advice to PDS in the following service areas; airplanes, passengers, mailing and cargo. Fees Pursuant to the concession agreement, Puerta del Sur is required to pay to the Uruguayan government an annual fee, which will be the higher of: a) USD 4,401; or b) the amount resulting from multiplying the work units (per passenger or per each 100 kilograms of cargo or mailing) by USD 0.00405, plus applicable cargo fees. Guarantees Based on the above, PDS is required to provide the following guarantees: a guarantee securing the completion of the construction work of the new terminal (a USD 2.3 million guarantee is in place for Group 1 and 2 works) and a performance guarantee for USD 6 million, that will be returned to PDS six months after the expiration of the Carrasco Airport Concession Agreement. Insurance PDS must contract civil liability insurance against damages, losses or injuries that could be caused to persons or property in relation to the performance under the concession agreement, with itself and the Uruguayan Ministry of Defense as beneficiaries, to cover all risks until termination or expiration of the concession. The minimum coverage amount is USD 250 million. Ecuadorian Concession Agreement Terminal Aeroportuaria de Guayaquil S.A. (“TAGSA”) has a concession agreement which grants until July 27, 2024 the development, operation and maintenance of Guayaquil airport, José Joaquin de Olmedo (“JJO”). Obligations Assumed by TAGSA as Concessionaire The main obligations under the concession are: - Design and construction of the works and investment specified in the Concession Agreement during the initial, intermediate and final phases, and expansion of the national terminal. - Operate and manage the JJO from the date of commencement of operations. - Establish regulations for the normal development of JJO. - Preventive and corrective maintenance of the JJO, including (i) all necessary repairs of the facilities, equipment and other concession assets built, acquired or incorporated by the TAGSA or pre-existing in the JJO and (ii) maintaining the facilities, equipment and other assets to prevent deterioration.- Taking all the necessary measures to protect the environment of the Guayaquil Airport and avoid or limit pollution disturbances to individuals and properties and other harmful results to the environment due to the rendering of aeronautic services and non-aeronautic services. -Payment of the annual concession amount -Provision of other non-aeronautic services, which include common commercial services such as food, beverages, counters, check-in desks at the terminal, etc., and facultative commercial services such as VIP lounges, souvenirs sale, cargo, etc. Rates for such services are fixed directly by TAGSA. Fees TAGSA is required to pay the annual concession amount to a trust, which amounts to 50.25% of gross revenues from tariffs and charges, and certain other commercial revenues from the operation of JJO to the Trust Fund for Development of the New Airport of Guayaquil, plus a fixed amount of USD 1.5 million per year for administrative services. Guarantees TAGSA is required to maintain a performance bond as security for the timely fulfillment of the obligations under the concession agreement of USD 3 million for the rest of the concession. In addition, TAGSA is required to maintain a performance bond for the payments to the Trust for the development of the new Guayaquil Airport that corresponds to an amount of 20% of the amount that is required to be paid by TAGSA to the Trust minus the amount of the performance bond of Guayaquil Concession Agreement. The current amount of the performance bond is USD 5 million. ECOGAL is required to deliver a performance bond of USD 700,000 to the DGAC, which should be in place during the term of the Galapagos Concession Agreement. The bond was issued by Seguros Oriente S.A., a financial institution in Ecuador, and is in force until April 14, 2018. Brazil Concession Agreement Inframérica Concessionária do Aeroporto de Brasília S.A. and Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. signed with the Brazilian regulatory authority (the Brazilian ANAC) a concession agreement which grants the construction, operation and maintenance of the airports of Brasilia, for a period of 25 years from 2012, and the airport of Natal (São Gonçalo do Amarante) for a period of 28 years, since 2011. They can be extended for another five years if necessary to reestablish economic equilibrium. Obligations Assumed by Inframérica Concessionária do Aeroporto de Brasília S.A. and Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. as Concessionaires - providing adequate service to passengers and users of the airport, as defined in Article 6 of Federal Law 8.987/95 (the Brazilian Concessions Law), using all means and resources available, including, but not limited to, making any necessary investments to expand airport operations to sustain the required service levels, based on the existing demand and the provisions set forth in the Airport Operation Plan; - implementing services and management programs, and offering training programs to its employees for purposes of improving services and the convenience of users in order to meet the requirements set forth in the applicable Airport Operation Plan; - providing proper service, defined under the Airport Operation Plan as regular, continuous, efficient, safe, up to date, broad and courteous services at a fair price, to the general public and airport customers; - performing all services, controls and activities related to the concession agreement, with due care and diligence, employing the best available practices in every task performed; - presenting ANAC with an Infrastructure Management Plan and Service Quality Plan every five years for the entire term of each of the Brazilian Concession Agreements: - submitting to the approval of the Brazilian ANAC any proposal for the implementation of service improvements and new technologies, as provided for under the concession agreement and applicable regulations; and - developing and implementing plans for dealing with emergencies at the airports, and maintaining for such purposes the human resources guidelines and other training materials required by industry regulations and the applicable Airport Operation Plan. Fees Grant payment obligations arising from these concession agreements are described in Note 22. Guarantees Under the Brazilian Concession Agreements, the Brazilian concessionaires are required to provide certain performance bonds in the amounts and for the events listed be

Business combinations, other ac

Business combinations, other acquisitions and investments	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about business combination [abstract]
Business combinations, other acquisitions and investments	26 Business combinations, other acquisitions and investments In December 2015, ACI Airports International S.à r.l. acquired 43.05% of the shares of Inframérica Participaçoes S.A. (“Inframérica”) and 49,95% of Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. (“ICASGA”) in order to gain control of the aforementioned companies. Inframérica is the owner of the 51.00% interest in Inframérica Concessionaria do Aeroporto do Brasilia S.A. (“ICAB”). As of December 31, 2016, A.C.I. Airports International owns 50.98% of the capital stock and voting rights of ICAB and 99.96% of ICASGA. The total purchase price was USD 55 million. For accounting purposes the Group assessed these acquisitions as a single acquisition. The fair value of the net assets acquired amounted to USD 189 million. The most significant assets acquired represented concession assets at a fair value of USD 1,34 billion. Goodwill was measured at acquisition date as the amount by which the aggregate of (i) the fair value of consideration transferred plus (ii) the fair value of the non-controlling interest recognized plus (iii) the fair value of the previously held interest in the acquired entities exceeds the total fair value of net assets acquired recognized in accordance with IFRS 3. Goodwill amounted to USD 51 million. This goodwill is not expected to be deductible for tax purposes. In connection with the fair value of net assets acquired, assets and liabilities included in the Consolidated Statement of Financial Position are mainly related with those assets and liabilities acquired in the above mentioned business combinations and other acquisitions and investments. There are no significant expenses related to this business combination. The assets and liabilities recognized as a result of the business combination is as follows: ASSETS Non-current assets Intangible assets, net 1,340,634 Property, plant and equipment, net 1,752 Deferred tax assets 43,265 Other receivables 26,242 1,411,893 Current assets Other financial assets 17,085 Other receivables 13,320 Trade receivables 13,851 Cash and cash equivalents 15,518 59,774 Total assets 1,471,667 Net identifiable assets acquired 56,906 Non-controlling interest 132,202 LIABILITIES Non-current liabilities Borrowings 316,451 Other liabilities 842,526 1,158,977 Current liabilities Borrowings 16,525 Other liabilities 79,755 Trade payables 27,302 123,582 Total liabilities 1,282,559 Total equity and liabilities 1,471,667 If the acquisition had occurred on January 1, 2015, consolidated pro-forma revenue and profit for the year attributable to the o wners of the parent Accounting policy choice for non-controlling interests The group recognizes non-controlling interests in an acquired entity either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. This decision is made on an acquisition-by-acquisition basis. The Company has elected to recognize the non-controlling interests in at fair value. See note 2.F for the group’s accounting policies for business combinations. Previously held equity interest in both acquired entities The previously held interest in both acquired entities was re-measured at fair value at acquisition date. The result of such remeasurement was a gain of USD 11,504 and was included in share of income or loss in associates in the statement of income.

Related party balances and tran

Related party balances and transactions	12 Months Ended
	Dec. 31, 2017
Related party transactions [abstract]
Related party balances and transactions	27 Related party balances and transactions Corporación América Airports S.A. is controlled by ACI Airports ACI Holding which is controlled by Corporación América International , Luxembourg’s companies. Corporación América International is controlled by Liska Investments Corporation, a company incorporated under the laws of the British Virgin Islands. Liska Investments Corporation is controlled by Southern Cone Foundation (CAAP ’ s ultimate parent company), a foundation created under the laws of Liechtenstein, having its corporate domicile in Vaduz. The foundation's purpose is to manage its assets through the decisions adopted by its independent board of directors. The potential beneficiaries of this foundation are members of the Eurnekian family and religious, charitable and educational institutions. Interests in subsidiaries are set out in Note 2.B. Transactions and balances with “Associates” are those carried out with entities over which CAAP exerts significant influence in accordance with IFRS, but does not have control. Transactions and balances with related parties, which are not associates and are not consolidated are disclosed as “Other related parties”. The Group receives services from related parties, such as internal audit, management control, financial assistance, technology outsourcing services and construction services. The Group has also significant assets and liabilities arise from financial agreements with related parties. Summary of balances with related parties are: At December 31, 2017 2016 2015 Year-end balances (a) Arising from sales / purchases of goods / other Trade Receivables with Associates - 229 - Trade Receivables with other related parties 1,130 1,255 5,423 Other Receivables with Associates 5,555 - 3,827 Other Receivables with other related parties 9,775 9,025 14,060 Other Financial Assets with Associates - 7,769 11,530 Other Financial Assets with other related parties 3,621 - 11,818 Trade Payables to other related parties (5,667 ) (8,625 ) (5,212 ) 14,414 9,653 41,446 (b) Financial debt Borrowings owed to other related parties (*) (34,651 ) (22,220 ) (618 ) (34,651 ) (22,220 ) (618 ) (c) Other liabilities Other liabilities - other related parties (34,948 ) (31,969 ) (29,764 ) (34,948 ) (31,969 ) (29,764 ) (*) Loans with related parties are secured by cash collateral by a company controlled by the Group of the Shareholder and were paid on February 8, 2018, see Note 31 “Indebtedness”. For the year ended 2017 2016 2015 Transactions Cash contribution and contributions in kind 6,600 1,577,321 329,101 Refund of shareholder contributions (28,893 ) - - Commercial revenue 6,790 4,067 5,967 Fees 886 473 (1,818 ) Interest accruals (3,159 ) (824 ) 2,468 Acquisition of goods and services (13,950 ) (10,270 ) (8,171 ) Others (900 ) 200 - Remuneration received by the Group’s key staff (company`s directors) amounted to approximately 2.6% of total remunerations accrued at December 31, 2017, 3.4% accrued at December 31, 2016 and 2.6% accrued at December 31, 2015.

Cash flow disclosures

Cash flow disclosures	12 Months Ended
	Dec. 31, 2017
Disclosure Of Cash Flow Statement [Abstract]
Cash flow disclosures	28 Cash flow disclosures At December 31, Changes in working capital 2017 2016 2015 Other receivables and credits (78,303 ) (97,038 ) (64,221 ) Inventories (909 ) 987 4,385 Other liabilities (171,741 ) (57,779 ) (111,250 ) (250,953 ) (153,830 ) (171,086 ) The most significant non-cash transactions are detailed below: For the year ended For the year For the year Intangible assets acquisition with an increase in Borrowings/Other liabilities (1,591 ) (3,260 ) - Dividends not paid (2,007 ) - - Property, plant and equipment acquisitions with an increase in Other liabilities (9 ) - - Borrowings cost capitalization (9,301 ) - - Contribution in kind in associates (17,950 ) - - Decrease in Intangible with an decrease in Other liabilities (Note 22) (84,075 ) - - Assignment of credits (4,744 ) - - Payment of Commitments to the grantor with a decrease in Other receivables and credits 64,284 - - Contributions in kind(*) - 1,556,827 320,798 Dividends distribution(*) - (49,960 ) (298,764 ) Refund of contributions(*) - - (497,660 ) Loans repayment – assignment of credits(***) - - (74,477 ) Spin-off of assets and liabilities(****) - - (62,539 ) Disposals of subsidiaries/associates(**) - - 322,960 (*) See note 24. (**) This includes other receivables from disposals of discontinued operations (see note 28) and other receivables from disposals of associates which was contributed in the year 2016 in the free distributable reserve of the Company (see note 24). (***) This corresponds to a settlement of a loan by assignment of credits to the borrowers. (****) This corresponds to assets and liabilities transferred outside the Group through spin-off of equity. Reconciliation of debt: According to the IAS 7, the movements in the debt of the year that impact on the cash flow as part of the financing activities are detailed below: Bank and financial Notes Loans with Other Total Values at the beginning of the year 604,102 475,639 22,220 5,280 1,107,241 Cash flows 99,725 129,491 10,525 (2,531 ) 237,210 Foreign exchange adjustments 6,117 14,686 (82 ) (282 ) 20,439 Other non-cash movements 55,386 62,599 1,988 1,582 121,555 Balances as of December 31, 2017 765,330 682,415 34,651 4,049 1,486,445

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2017
Discontinued Operations [Abstract]
Discontinued Operations	29 Discontinued Operations As a result of the corporate reorganization process mentioned in Note 1, during 2016 the Group sold its equity participations in Helport do Brasil S.A. (August 31, 2016), Hidroaconcagua S.A. (October 20, 2016), as well as other smaller entities. Considering that there were companies not related to the airport industry, they were included as discontinued operations. Summarized information of Statement of Income is as follows: For the year ended For the year ended For the year ended Revenues - 5 261,686 Cost of services - (92 ) (203,230 ) Gross profit - (87 ) 58,456 Selling, general and administrative expenses - (796 ) (7,314 ) (Loss)/ income on disposal of discontinued operations - (8,916 ) 92,167 Other operating expense - (228 ) (5,591 ) Operating (loss)/ income - (10,027 ) 137,718 Financial result, net - 548 (19,809 ) (Loss)/ income before equity in earnings of associates and income tax - (9,479 ) 117,909 Share of income or loss in associates - 62 (10,806 ) (Loss)/ income before income tax - (9,417 ) 107,103 Income tax - (61 ) 1,884 (Loss)/ income from discontinued operations - (9,478 ) 108,987 Currency translation adjustment - 4,277 (4,277 ) Total comprehensive (loss)/ income for the year - (5,201 ) 104,710 Summarized cash flow information is as follows: At December 31, At December 31, At December 31, (Decrease)/ Increase in cash - (7,655 ) 15,227 Used in operating activities - (8,155 ) (41,969 ) Provided by/(used in) investing activities - 500 (139,531 ) Provided by financing activities - - 196,727 Financial information relating to the discontinued operations of the companies sold for the year 2017, 2016 and 2015 to the date of disposal is set out below 2017 2016 2015 Non-current assets - 13,721 460,499 Current assets - 38,997 228,663 Total assets - 52,718 689,162 Non-current liabilities - 6,552 279,662 Current liabilities - 30,551 157,315 Total liabilities - 37,103 436,977 Total attributable to owners of the parent - 15,304 185,529 Non-controlling interests - 311 66,656 Total equity and liabilities - 52,718 689,162 The aggregate effects of disposals of subsidiaries are as follows: 2017 2016 2015 Net identifiable assets disposed - 15,304 156,716 Spin-off of net assets - - 28,813 Transfer from shareholders equity – currency translation differences - 3,993 58,150 (Loss)/Income from discontinued operations - (8,916 ) 92,167 Other receivables from disposals - - 273,000 Net cash inflow on disposal of discontinued operations - 10,381 34,033 Less: Cash and cash equivalents in subsidiaries disposed - (8,593 ) (44,030 ) Net cash provided by/(used in) investing activities - 500 (139,531 ) Net cash used in discontinued investing activities - (8,093 ) (183,561 )

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2017
Basic earnings per share [abstract]
Earnings per share	30 Earnings per share Basic earnings per share is calculated by dividing the profit attributable to equity holders of the Group by the weighted average number of shares resulting from the Conversion and the Reverse Stock Split, which were implemented in two stages:: - Stage 1: Conversion that implies an increase to 1,500,000,000 common shares as explained in Note 1. - Stage 2: Reverse stock split from 1-to-10.12709504 The Conversion and the Reverse Stock Split has been given a retrospective effect. The following tables shows the net income and the number of shares that have been used for the calculation of the basic earnings per share total, of continuing and discontinued operations: 2017 2016 2015 Income/ (loss) attributable to equity holders of the Group 63,491 43,236 (11,039 ) Weighted average number of shares (thousands) 148,118 148,118 148,118 Basic income/(loss) per share of continuing operations 0.43 0.29 (0.07 ) 2017 2016 2015 (Loss)/ income of discontinued operations attributable to equity holders of the Group - (9,477 ) 116,529 Weighted average number of shares (thousands) 148,118 148,118 148,118 Basic (loss)/ income per share of discontinued operations - (0.06 ) 0.79 2017 2016 2015 Income attributable to equity holders of the Group 63,491 33,759 105,490 Weighted average number of shares (thousands) 148,118 148,118 148,118 Basic income per share of continuing and discontinued operations 0.43 0.23 0.71 As of the date of the issuance of these consolidated financial statements, there are no CAAP instruments outstanding that imply the existence of potential ordinary shares. Thus the basic net income per share matches the diluted net income per share.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2017
Disclosure of non-adjusting events after reporting period [abstract]
Subsequent events	31 Subsequent events Indebtedness On January 8, 2018, CAI issued €60.0 million (USD 71.8 million) aggregate principal amount of 4.556% secured notes due 2024 (the “Italian Notes”). The proceeds of the Italian Notes were used to refinance and replace the 6.250% secured notes due 2019 issued by CAI in December 2014. Interest on the Italian Notes is payable annually in arrears on June 30 of each year. The Italian Notes will mature on December 31, 2024. The Italian Notes are secured by an economic first ranking pledge in respect of all the shares representing 100% of the share capital of CAI, 100% of the share capital of Dicasa Spain S.A.U. and the shares representing CAI’s holding in TA. On February 7, 8, and March 7, 2018, CAAP repaid the outstanding amount of USD 126,690.8 with Goldman Sachs, Converse Bank, Orotun S.A. and Julius Baer & Co. Ltd. On March 14, 2018 BNDES has approved an amendment and extension of the loan agreements with ICAB that involves extending the final maturity and the interest-only payment terms of such loans for two years, and providing an interest capitalization period for 50% of the interest due for two years. In addition, such agreements increased the size of the credit facility commitments by R $300 million (USD 91.9 million). With the proceeds of these loans, ICAB has repaid the credit facilities provided by Banco Santander Bridge and the Citibank for a total amount of USD 106.6 million (approximately $R 348). As a result of this operation, the guarantee deposit held by CAAP has been released (approximately USD 92.9 million). Initial Public Offering On January 19, 2018, the Shareholder approved a 1-to-10.12709504 reverse stock split of its common shares, consequently decreasing the outstanding common shares from 1,500,000,000 common shares to 148,117,500 common shares (the “Reverse Stock Split”). The nominal value of USD 1.00 of each common share did not change as a result of the Reverse Stock Split. On February 2, 2018, CAAP submitted the final prospectus to the U.S. Securities and Exchange Commission as an initial public offering of common shares of Corporación América Airports S.A. which was declared effective by such commission. The offering was of 11,904,762 common shares and the Shareholder offered 16,666,667 common shares which were fully subscribed. As a consequence of the Initial Public Offering, the share capital of CAAP has increased to 160,022,262 shares. The initial public offering price per common share was USD 17.00. On February 5, 2018 the Executive Committee; in accordance with (i) the provisions of the articles of associations of the Company, and (ii) the resolutions taken by the Company´s board of directors wihich determined and confirmed the creation and composition of the Executive Committee and also the powers delegated to it with respect of the Initial Public Offering; resolves to approve the issuance of the new shares, acknowledge having received sufficient evidence showing that the subscription price of the new shares has been paid, and the amendment of the articles of associations in respect of the new share capital of USD 160,022,262. Additional acquisitions and contributions in subsidiaries On February 19, 2018, CAI announced that has entered into an agreement with Fondazione Pisa to purchase an additional 4.568% of the share capital of Toscana Aeroporti S.p.A, for a purchase price of €15.80 per share, equal to a total purchase price of €13,433. As a result of the acquisition, CAI will hold approximately 55.698% of Toscana Aeroporti’s share capital. On February 21, 2018 CAAP has approved a cash contribution in Inframérica Participaçoes for approximately USD 46 million ($R 148.3 million) On March 14, 2018 with the proceeds from the release of the guarantee deposit mention above, CAAP has approved a cash contribution in Natal for approximately USD 82.9 million ($R 270 million). There are no other subsequent events that significantly affect the Company’s financial position as of December 31, 2017.

Basis of presentation and acc38

Basis of presentation and accounting policies (Policies)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Basis Of Preparation And Significant Accounting Policies [Abstract]
Basis of preparation	Basis of preparation The Group’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB) and the Interpretations of the International Financial Reporting Interpretations Committee (IFRIC) applicable to companies reporting under IFRS. The consolidated financial statements comply with IFRS as issued by the International Accounting Standards Board (IASB). Presentation in the consolidated statement of financial position differentiates between current and non-current assets and liabilities. Assets and liabilities are regarded as current if they mature within one year or within the normal business cycle of the Group, or are held for sale. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 2.F. Several balance sheet consolidated statements of final position and consolidated statement of income items have been combined in the interests of clarity. These items are stated and explained separately in the notes to the consolidated financial statements. The statement of income is structured according to the function of expense method (nature of the expenses is classified in notes). The consolidated financial statements are presented in thousands of U.S. Dollars unless otherwise stated. All amounts are rounded off to thousands of U.S. Dollars unless otherwise stated. As such, insignificant rounding differences may occur. A dash (“—”) indicates that no data was reported for a specific line item in the relevant financial year or period or when the pertinent figure, after rounding, amounts to nil. The fiscal year begins on January 1 and ends on December 31.
New and amended standards adopted by the Group	New and amended standards adopted by the Group The group has applied the following standards and amendments for the first time for their annual reporting period commencing on 1 January 2017: IAS 12, “Income tax” In February 2016, the IASB issued certain amendments to clarify the requirements for recognition of deferred tax assets for tax unrealized losses, effective from January 1, 2017. IAS 7, “Cash Flow Statement” In February 2016, the IASB issued an amendment by which requires that an entity disclose information that enables users to understand the changes in liabilities arising from financing activities, effective from January 1, 2017. The adoption of these amendments had no impact on the amounts recognized in previous years. Most modifications will also not affect current or future periods. The amendments to IAS 7 require the disclosure of changes in liabilities arising from financing activities, see Note 28.
New and amended standards not yet adopted for CAAP	New and amended standards not yet adopted for CAAP Certain new accounting standards and interpretations have been published that are not mandatory for December 31, 2017 reporting periods and have not been early adopted by the group. The group’s assessment of the impact of these new standards and interpretations is set out below. IFRS 9, "Financial Instruments" IFRS 9 - Financial Instruments, and subsequent amendments, issued in July 2014. This standard is effective for fiscal years beginning January 2018 and replaces the previously issued versions and establishes new requirements for hedge accounting and a new model of impairment for financial assets. The group has reviewed its financial assets and liabilities and is expecting the following impact from the adoption of the new standard on 1 January 2018: The majority of the group’s financial instruments are currently classified as held to maturity. Those instruments will satisfy the conditions for classification as amortized cost and hence there will be no change to the accounting for these assets. In respect of other financial assets measured at fair value through profit or loss, there will be no change to the accounting for these assets. There will be no impact on the group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the group does not have any such liabilities. The derecognition rules have been transferred from IAS 39 Financial Instruments: Recognition and Measurement As the Group has no hedging instruments, the new hedging requirements will not affect the Group´s financial condition or results of operations. The new impairment model requires the recognition of impairment provisions based on expected credit losses (ECL) rather than only incurred credit losses as is the case under IAS 39. It applies to financial assets classified at amortized cost, debt instruments measured at FVOCI”), contract assets under IFRS 15 Revenue from Contracts with Customers According to the evaluations made to date, a non-significant increase in the estimate of losses for uncollectable is expected in approximately 2.6% of the total trade receivables. It also introduces broader disclosure requirements and changes in presentation. Therefore, the nature and extent of the disclosures of financial instruments are expected to change, particularly in the year of adoption of the new standard. The Group will apply the new rules retrospectively as of January 1, 2018, with the practical expedients allowed by the standard. IFRS 15, “Revenue from contracts with customers” IFRS 15, ‘Revenue from contracts with customers’ deals with revenue recognition and establishes principles for reporting useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. Revenue is recognized when a customer obtains control of a good or service and thus has the ability to direct the use and obtain the benefits from the good or service. The standard replaces IAS 18 ‘Revenue’ and IAS 11 ‘Construction contracts’ and related interpretations. The standard is effective for annual periods beginning on or after 1 January 2018. The Company´s management has determine that the adoption of this standard will not have a significant impact on the Company´s financial condition or results of operations. The Group intends to adopt this standard using the modified retrospective approach, meaning that the cumulative impact of the adoption will be recognized in retained earnings as of January 1, 2018 and that comparatives will not be changed. IFRS 16, “Leases” In January 2016, the IASB issued IFRS 16, "Leases", which will result in almost all leases being recognized on the balance sheet, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognized. IFRS 16 must be applied on annual periods beginning on or after January 1, 2019. The Company's management is currently assessing the potential impact that the application of this standard may have on the Company's financial condition or results of operations. Other standards and interpretations non-significant for the Company’s financial statements: -Amendment to IFRS 2 - Classification and Measurement of Share-based Payment Transactions -Annual Improvements to IFRS 2014-2016 cycle. - IFRIC 22 - Foreign Currency Transactions and Advance Consideration. - IFRIC 23 - Uncertainty over Income Tax Treatments. There are no other standards that are not yet effective and that would be expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions.
Group accounting policies	Group accounting policies (1) Subsidiaries and transactions with non-controlling interests Subsidiaries are all entities over which the Group has control. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is exercised by the Company and are no longer consolidated from the date control ceases. The acquisition method is used to account for the business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred or assumed at the date of exchange, and the equity interest issued by the group. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. Accounting treatment is applied on an acquisition by acquisition basis. The excess of the aggregate of the consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Consolidated Statement of Income. Transactions with non-controlling interests that do not result in a loss of control are accounted as equity transactions with owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. Material inter-company transactions, balances and unrealized gains and losses have been eliminated in consolidation. However, financial gains and losses from intercompany transactions may arise when the subsidiaries have different functional currencies. These financial gains and losses are included in the Consolidated Statement of Income under Financial income and Financial loss (2) Associates Associates are all entities over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for by the equity method of accounting and are initially recognized at cost, and the carrying amount is increased or decreased to recognize the investor`s share of profit or loss of the investee after the date of acquisition. The Company’s investment in associates includes goodwill identified on acquisition, net of any accumulated impairment loss. Unrealized gains or losses arising from transactions between the Group and its associates are eliminated to the extent of CAAP’s interest in the associates. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been adjusted where necessary to ensure consistency with the policies adopted by the Group. The Company’s pro-rata share of earnings in associates is recorded in the Consolidated Statement of Income under Share of loss in associates Share of other comprehensive income from associates Other Reserves. (3) List of Subsidiaries Detailed below are the subsidiaries of the Company which have been consolidated in the Consolidated Financial Statements. The percentage of ownership refers to the direct and indirect ownership of Corporación América Airports S.A in their subsidiaries at each period-end. Holdings companies Country of Percentage of ownership at Company incorporation Local currency Main activity 2017 2016 2015 Abafor S.A. (*) Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % ACI AIA S.à r.l(*)(**) Luxembourg Euros Holding company - 100.00 % 100.00 % ACI Airport Sudamérica S.A.U. Spain Euros Holding company 100.00 % 100.00 % 100.00 % ACI Airports Italia S.A. (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % America International Airports LLC (AIA) (*) USA U.S. dollars Holding company 100.00 % 100.00 % 100.00 % Cargo & Logistics S.A. (*) Argentina Argentine pesos Holding company 98.63 % 98.63 % 98.63 % CASA Aeroportuaria S.A. (*) Argentina Argentine pesos Holding company 99.98 % 99.98 % 99.98 % Cedicor S.A (*) Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % Cerealsur S.A. Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % Corporación Aeroportuaria S.A. (*) Argentina Argentine pesos Holding company 100.00 % 100.00 % 100.00 % Corporación América Italia S.A. Italy Euros Holding company 100.00 % 100.00 % 100.00 % Corporación América S.A. (*) Argentina Argentine pesos Holding company 95.37 % 95.37 % 95.37 % Corporación América Sudamericana S.A. Panamá U.S. dollars Holding company 94.68 % 94.68 % 94.68 % DICASA Spain S.A. (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % GOFI Investments S.L (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % Inframérica Participaçoes S.A. (*) Brazil Brazilian real Holding company 99.96 % 99.96 % 99.96 % Yokelet S.L. (*) Spain Euros Holding company 100.00 % 100.00 % 90.00 % (*) (**) This company was dissolved on June 30, 2017. Operating companies Country of Percentage of ownership at Company incorporation Local currency Main activity 2017 2016 2015 Aerocombustibles Argentinos S.A. Argentina Argentine pesos Fueling company 92.98 % 92.98 % 92.98 % Aeropuerto de Bahía Blanca S.A. Argentina Argentine pesos Airports Operation 81.06 % 81.06 % 81.06 % Aeropuertos Argentina 2000 S.A.(“AA2000”) (***) Argentina Argentine pesos Airports Operation 81.29 % 81.29 % 81.29 % Aeropuertos del Neuquén S.A. Argentina Argentine pesos Airports Operation 74.10 % 74.10 % 74.10 % Arrnenia International Airports CJSC Armenia Dram Airports Operation 100.00 % 100.00 % 100.00 % CAI S.A. Uruguay Uruguayan pesos Airports Operation 100.00 % 100.00 % 100.00 % Enarsa Aeropuertos S.A. Argentina Argentine pesos Fuel plants 76.29 % 76.29 % 76.29 % Inframerica Concessionária do Brazil Brazilian real Airports Operation 50.98 % 50.98 % 50.98 % Inframerica Concessionária do Brazil Brazilian real Airports Operation 99.97 % 99.96 % 99.95 % Paoletti América S.A. (****) Argentina Argentine pesos Service company 40.65 % 40.65 % 40.65 % Puerta del Sur S.A. Uruguay Uruguayan pesos Airports Operation 100.00 % 100.00 % 100.00 % Servicios y Tecnología Aeroportuaria S.A. Argentina Argentine pesos Service company 80.73 % 80.73 % 80.73 % TCU S.A. Uruguay Uruguayan pesos Service company 100.00 % 100.00 % 100.00 % Terminal Aeroportuaria Guayaquil S.A. (“TAGSA”) (*****) Ecuador U.S. dollars Airports Operation 49.99 % 49.99 % 49.99 % Texelrío S.A. Argentina Argentine pesos Service company 56.91 % 56.91 % 56.91 % Toscana Aeroporti S.p.A. Italy Euros Airports Operation 51.13 % 51.13 % 51.13 % Villalonga Furlong S.A. Argentina Argentine pesos Service company 78.91 % 78.91 % 78.91 % (***) Includes a 9.35% direct interest of Cedicor S.A. in AA2000, acquired by Cedicor S.A. in 2011. This participation is subject to the authorization by the ORSNA pursuant to section 7.2 of the Argentine Concession Agreement. As of the date of issuance of these Consolidated Financial Statements, the ORSNA has not issued any resolution approving or rejecting the aforementioned transaction. While this approval is pending, all economic and political rights pertaining to the shares, including all distributed dividends, have been assigned to Cedicor S.A. (****) The group has control over this company based on having majority representation in the board, power to direct the process of setting of financial and operating policies and execute the operational management of such Company. (*****) The group has control over this company based on having power to direct the process of setting of financial and operating policies and execute the operational management of such Company. Summarized financial information in respect of each of the Group´s subsidiaries that has most significant non-controlling interests is set below. The summarized financial information below represents amounts before intragroup elimination. Toscana Aeroporti S.p.a. December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 236,893 199,316 203,251 Current assets 62,144 51,453 60,788 Total assets 299,037 250,769 264,039 Non-current liabilities 73,762 68,646 76,629 Current liabilities 89,057 63,806 67,080 Total liabilities 162,819 132,452 143,709 Equity 136,218 118,317 120,330 Revenue 154,526 141,347 152,663 Gross profit 50,269 45,057 41,438 Operating income 19,469 17,854 14,212 Financial Results (1,630 ) (1,240 ) (1,894 ) Share of income in associates 39 - 1,842 Income tax expense (5,893 ) (5,624 ) (4,654 ) Net income 11,985 10,990 9,506 Other comprehensive (income) / loss for the year 16,469 (4,643 ) (10,761 ) Total comprehensive income/(loss) for the year 28,454 6,347 (1,255 ) Dividends paid (10,584 ) (4,268 ) (3,831 ) Increase/(decrease) in cash Provided by operating activities 13,345 16,514 23,210 Used in investing activities (19,315 ) (10,170 ) (7,319 ) Used in financing activities (9,981 ) (10,979 ) (9,634 ) Terminal Aeroportuaria de Guayaquil S.A. December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 51,941 55,188 62,134 Current assets 42,760 45,053 40,520 Total assets 94,701 100,241 102,654 Non-current liabilities 6,571 11,566 8,114 Current liabilities 42,929 44,307 56,633 Total liabilities 49,500 55,873 64,747 Equity 45,201 44,368 37,907 Revenue 85,310 85,301 79,045 Gross profit 35,063 36,220 32,287 Operating income 19,087 20,626 15,806 Financial Results (479 ) (1,395 ) (2,377 ) Share of income in associates - - - Income tax expense (1,653 ) (1,768 ) (1,466 ) Net income 16,955 17,463 11,963 Other comprehensive income for the year - - - Total comprehensive income for the year 16,955 17,463 11,963 Dividends paid (17,371 ) (16,157 ) (7,315 ) Increase/(decrease) in cash Provided by operating activities 24,743 26,951 20,336 Provided by/ (used in) investing activities (24,585 ) 8,995 (5,303 ) Used in financing activities (23,066 ) (23,397 ) (20,563 ) Inframerica Conssesionária do Aeroporto de December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 1,267,647 1,373,179 1,114,659 Current assets 48,747 126,418 54,346 Total assets 1,316,394 1,499,597 1,169,005 Non-current liabilities 1,060,174 1,206,457 954,791 Current liabilities 250,671 211,667 94,464 Total liabilities 1,310,845 1,418,124 1,049,255 Equity 5,549 81,473 119,750 Revenue 111,259 99,889 N/A Gross profit 14,538 19,511 N/A Operating income (161 ) 7,143 N/A Financial Results (116,222 ) (128,403 ) N/A Share of income in associates - - N/A Income tax expense 38,798 40,425 N/A Net loss (77,585 ) (80,835 ) N/A Other comprehensive income for the year 1,764 24,372 N/A Total comprehensive loss for the year (75,821 ) (56,463 ) N/A Dividends paid - - N/A Increase/(decrease) in cash Used in operating activities (76,445 ) (10,674 ) N/A Used in investing activities (10,065 ) (16,172 ) N/A Provided by financing activities 87,216 10,489 N/A Aeropuertos Argentina 2000 S.A. December 31, December 31, December 31, 2017 2016 2015 Non-current assets 707,952 544,697 487,122 Current assets 199,222 146,034 94,881 Total assets 907,174 690,731 582,003 Non-current liabilities 411,561 159,411 212,192 Current liabilities 150,225 220,822 145,767 Total liabilities 561,786 380,233 357,959 Equity 345,388 310,498 224,044 Revenue 994,782 837,380 780,870 Gross profit 360,822 339,344 283,732 Operating income 282,422 270,672 211,424 Financial Results (52,788 ) (53,036 ) (135,847 ) Share of income in associates - - - Income tax expense (67,620 ) (81,501 ) (26,152 ) Net income 162,014 136,135 49,425 Other comprehensive loss for the year (50,945 ) (49,680 ) (113,471 ) Total comprehensive income (loss) for the year 111,069 86,455 (64,046 ) Dividends paid (76,178 ) - - Increase/(decrease) in cash (Used in) /provided by operating activities (53,509 ) 114,704 47,192 Used in investing activities (185 ) (1,028 ) (652 ) Provided by /(used in) financing activities 129,370 (79,748 ) (63,915 )
Foreign currency translation	Foreign currency translation (1) Functional and presentation currency Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The consolidated financial statements are presented in U.S. dollars, which is the Group´s functional and presentation currency. (2) Transactions in currencies other than the functional currency Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuations where items are re-measured. At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included, if applicable, in “Financial income / Financial loss” (3) Translation of financial information in currencies other than the functional currency Income and expenses of the subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S. dollars at the monthly average exchange rates. Assets and liabilities for each balance sheet presented are translated at the balance sheet date exchange rates. Translation differences are recognized in other comprehensive income as “Currency Translation Adjustments”. As of December 31, 2017, 2016 and 2015, the Company recognized a translation loss of USD 25.6 million, USD 44.3 million and USD 170.9 million, respectively, arising from the translation of the investments in Argentina, Brazil, Italia and Armenia. In the case of a sale or other disposal of any of such subsidiaries, any cumulative translation difference would be recognized in income as a gain or loss from the sale of such subsidiary.
Intangible assets	Intangible assets (1) Concession Assets The Group, through some of its subsidiaries has been awarded the concession for the administration and operation of the following airports: - Puerta del Sur S.A. and C.A.I.S.A., of major airports in Uruguay (Montevideo and Punta del Este). - Toscana Aeroporti S.p.A. (“TA”) a merger of Aeroporto di Firenze S.p.A. (“ADF”) and Società Aeroporto Toscano Galileo Galilei S.p.A. (“SAT”) of Florence and Pisa airports, respectively. - Inframérica Concessionária do Aeroporto de Brasilia S.A. and Inframérica Concessionária do Aeroporto de São Gonçalo do Amarante S.A. of Brasilia and São Gonçalo do Amarante airports, respectively. - Terminal Aeroportuaria de Guayaquil S.A. (TAGSA) of Guayaquil airport, “José Joaquin de Olmedo”. - Aeropuertos Argentina 2000 S.A. 34 airports in Argentina. - “Armenia” International Airports CJSC of the “Zvartnots” International Airport of Yerevan, Republic of Armenia. The concession agreements are accounted for in accordance with the principles included in IFRIC 12 “Service Concession Arrangements”. The Company recognized an intangible asset for: a) Fixed fees payables as the result of the acquisition of the right (license) to charge users for the service of airport concession (see Note 22), b) Right to obtain benefits for services provided using the assets built under the construction services performed under the concession contracts. Acquisitions correspond, according to the terms of the Concession contract, to the improvements over existing infrastructure to increase the useful life or its capacity, or the construction of new infrastructure. General and specific borrowing costs, attributable to the acquisition, construction or production of assets that necessarily take a substantial period to get ready for their intended use or sale are added to the cost of such assets until the assets are substantially ready to be used or sold. The intangible asset for infrastructure under each concession agreement is amortized over the contract term in accordance with an appropriate method reflecting the rate of consumption of the concession asset’s economic benefits as from the date the infrastructure is brought into service. Accounting of the fixed concession fee under the Brazilian concession agreements are described in Note 22 A. As part of the obligations arising from the concession agreements, the Group provides construction or upgrade services. IFRIC 12 “Service Concession Arrangements” requires to recognize revenues and costs from the construction or upgrade services provided. The fair value of the construction or upgrade service is equal to the construction or upgrade costs plus a reasonable margin, which the Group has estimated at an average of 3% to 5%. (1) Concession Assets (Cont.) The concession fee paid to the grantor derived from the concession agreements are recognized depending on the terms defined in the concession agreement: a) Fixed concession fee is recognized at the beginning of the concession as it is reliably measurable, as a counterpart an intangible asset is recognized, this type of fee is independent form the revenue. b) Variable fees payables that are define as a percentage over certain revenue streams, recognized monthly by monthly in the income statement. Each operating company is responsible for obtaining the necessary guarantees for the commitments assumed in each concession. They are mostly covered by insurance that it is paid in advance and it is recorded in Other receivables, and is accrued over the life of the coverage. Main commitments under each concession agreement are included in Note 25 b. (2) Goodwill Goodwill represents the excess of the acquisition cost over the fair value of the Group’s share of net identifiable assets, liabilities and contingent liabilities acquired as part of business combinations determined by management. Goodwill impairment reviews are performed annually or more frequently if events or changes in circumstances indicate a potential impairment. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. Impairment losses on goodwill are not reversed. Goodwill, net of impairment losses, if any, is included on the Consolidated Statement of Financial Position under For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each cash-generating units (CGUs) of a subsidiary or group of subsidiaries that are expected to benefit from such business combination.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and impairment losses; historical cost includes expenses directly attributable to the acquisition of the items. Major overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is probable that future economic benefits associated with the item will flow to the group and the investment enhances the condition of assets beyond its original condition. Depreciation is calculated using the straight-line method to allocate the cost of each asset to its residual value over the estimated useful life, as follows: Buildings and improvements 25-30 years Plant and production equipment 3-10 years Vehicles, furniture and fixtures, and other equipment 4-10 years The residual values and useful lives of significant property, plant and equipment are reviewed and adjusted, if appropriate, at each year-end date. Gain and losses on disposals are determined by comparing the proceeds with the carrying amount and are included in “Other operating (expense) / income” in the Consolidated Statement of Income. (1) Oil and gas exploration activities from discontinued operations The Company applies IFRS 6 "Exploration for and Evaluation of Mineral Resources" to account for its oil and gas exploration and evaluation activities. As a result, in accordance with IFRS 6, the Company capitalizes oil and gas exploration and evaluation expenses, such as topographical, geological, geochemical and geophysical studies; exploratory drilling; evaluation of oil and gas reserves, and mining property associated with unproven reserves, such as assets for exploration and evaluation as a special category (Exploration and evaluation assets) within Property, plant and equipment. The costs prior to obtaining an exploration permit are charged to income/loss as incurred. This means that exploration costs are temporarily capitalized until the results of the exploration efforts are evaluated so as to determine if there are sufficient hydrocarbon reserves to commercially exploit them. If exploration and evaluation activities do not conclude that there are sufficient hydrocarbon reserves, the amounts capitalized are charged to income/loss at the time this conclusion is reached. Exploration and evaluation assets in relation to which reserves were identified are tested for impairment, prior to reclassification of the line "Production facilities and wells". Exploration and evaluation assets are not subject to depreciation or amortization. (2) Oil and gas development activities from discontinued operations Development costs are costs incurred to develop and produce proven reserves and provide facilities for extraction, collection and storage of oil and gas. This item includes payments of exploitation concession rights, which are recorded under "Mining Property" line. Development costs incurred to drill development wells (successful and dry) and to construct facilities or install equipment for production purposes are capitalized and classified as "Works in progress" until their completion. Once productive, these wells are reclassified to "Production facilities and wells" and depreciation begins; oil and gas production costs are charged to income/loss. Subsequent expenses are incorporated as a cost component of these assets only if they are an improvement and/or extend the useful life and/or increase the production capacity of assets and/or it is probable that the asset generates an increase in net cash flows. The costs of maintenance and repair that only restore production to its original level are charged to income/loss in the fiscal year they are incurred. The costs of asset retirement obligation and well plugging obligations are capitalized at discounted value, together with the assets that gave rise (within the "Production facilities and wells" line) to them and are depreciated using the units of production method. As counterpart, a liability is recognized for this item at the estimated value of the discounted sums payable. These values are adjusted when necessary based on changes in current costs, the date on which wells will be retired and/or any other information available.
Critical accounting estimates and judgments	Critical accounting estimates and judgments Critical accounting estimates are those that require management to make significant judgments and estimates about matters that are inherently uncertain. Management bases its estimates on historical experience and other assumptions that it believes are reasonable. Actual results could differ from estimates used in employing the critical accounting policies and these could have a material impact on the Group’s results of operations. The Group’s critical accounting estimates are discussed below. (a) Business combinations – purchase price allocation Accounting for business combinations requires the allocation of the Group's purchase price to the various assets and liabilities of the acquired business at their respective fair values. The Group uses all available information to make these fair value determinations. In some instances, assumptions with respect to the timing and amount of future revenues and expenses associated with an asset might have to be used in determining its fair value. Actual timing and amount of net cash flows from revenues and expenses related to that asset over time may differ from those initial estimates, and if the timing is delayed significantly or if the net cash flows decline significantly, the asset could become impaired. (b) Impairment testing At the date of each statement of financial position, the Group reviews the carrying amounts of its property, plant and equipment, investment in associates and finite lived intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent, if any, of the impairment loss. Assets that have an indefinite useful life or assets not ready to use are not subject to amortization and are tested annually for impairment. An impairment loss, if applicable, is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are largely independent cash inflows (cash-generating units or CGUs). Prior impairments of nonfinancial assets (other than goodwill) are reviewed for possible reversal at each reporting date. A previously recognized impairment loss is reversed if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the reversal of the previously recognized impairment loss is recognized in the Consolidated Statement of Income. (c) Income taxes The Group is subject to income taxes in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes. There are many transactions and calculations for which the ultimate tax determination is uncertain. The Group recognizes liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities in the period in which such determination is made. Deferred tax is recognized, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets are reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the asset to be settled. Deferred tax assets and liabilities are not discounted. In assessing the recoverability of deferred tax assets, management considers whether it is probable that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. (d) Application of IFRIC 12 The Group has carried out a comprehensive implementation of the standards applicable to the accounting treatment of their concession and has determined that, among others, IFRIC 12 is applicable. The Group treats their investments related to improvements and upgrades to be performed in connection with the concession obligation under the intangible asset model established by IFRIC 12, as all investments required by the concession obligation, regardless of their nature, directly increase the maximum tariff per traffic unit. Accordingly, all amounts invested under the concession obligation have a direct correlation to the amount of fees the Group will be able to charge each passenger or cargo service provider, and thus, a direct correlation to the amount of revenues the Group will be able to generate. As a result, the Group defines all expenditures associated with investments required by the concession obligation as revenue generating activities given that they ultimately provide future benefits, whereby subsequent improvements and upgrades made to the concession are recognized as intangible assets based on the principles of IFRIC 12. Additionally, compliance with the committed investments per the Master Development Programs is mandatory, as well as the fulfillment of the maximum tariff and therefore, in case of a failure to meet any one of these obligations, the Group could be subject to sanctions and the concessions could be revoked.
Inventories	Inventories Inventories are stated at the lower of cost and net realizable value. Net realizable value is the estimated price in the ordinary course of business, less the estimated costs of completion and selling expenses. The cost of inventories is based on the weighted averaged principle and includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. If applicable, the Group establishes an allowance for obsolete or slow-moving inventory related to finished goods. For slow moving or obsolete finished products, an allowance is established based on management’s analysis of product aging.
Trade and other receivables	Trade and other receivables Trade and other receivables are initially recognized at fair value, generally the original invoice amount and are subsequently measured at amortized cost. The Group analyzes its trade receivables on a regular basis and, when aware of a specific counterparty’s difficulty or inability to meet its obligations, impairs any amounts due with a provision for bad debts. Additionally, this provision is periodically assessed based on the aging of receivables.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents are comprised of cash in banks, mutual funds and short-term investments with an original maturity of three months or less at the date of purchase which are readily convertible to known amounts of cash. In the Consolidated Statement of Financial Position, bank overdrafts are included in Borrowings
Equity	Equity (1) Equity components The Consolidated Statement of Changes in Equity includes: - The share capital, legal reserve and free distributable reserves calculated in accordance with Luxembourg Law; - The currency translation adjustment, other reserves, retained earnings and non-controlling interest. (2) Share capital Share capital is stated at nominal value. The Company had an authorized share capital of 20,000 shares having a nominal value of USD 1 per share as of December 31, 2016 and 2015. According to Note 1 and as a consequence of the Conversion of the Company the share capital as of December 31, 2017 has a nominal value of USD 1,500 million (USD 1 per share). All issued shares are fully paid. Pursuant to Luxembourg regulations, contributions in kind made by shareholders must be at fair value and must be considered as Free Distributable Reserve. (3) Dividends distribution by the Company to shareholders Dividends distributions are recorded in the Company’s financial statements when Company’s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Managers in accordance with the by-laws of the Company. Dividends may be paid by the Company to the extent that it has distributable retained earnings, calculated in accordance with Luxembourg law (see Note 25 c.). (4) Other reserves As mentioned in Note 1, the reorganization was accounted for as a reorganization of entities under common control, using the predecessor cost method. The net effect was recorded in Net Equity under Other Reserves (5) Non-controlling interest The group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized in a separate reserve within equity attributable to owners of Corporación América Airports S.A.
Borrowings	Borrowings Borrowings are recognized initially at fair value, net of transaction costs incurred. Subsequently borrowings are measured at amortized cost.
Current and Deferred income tax	Current and Deferred income tax The tax expense for the year comprises current and deferred tax. Tax is recognized in the Consolidated Statement of Income, except for tax items recognized in the Consolidated Statement of Comprehensive Income. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the reporting date in the countries where the Group entities operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions when appropriate. Deferred income taxes recognized applying the liability method on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. The principal temporary differences arise from fair value adjustments of assets acquired in business combinations, and the effect of valuation on fixed assets, inventories and provisions. Deferred tax assets are also recognized for net operating loss carry-forwards. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted at the reporting date. Deferred tax assets are recognized to the extent it is probable that future taxable income will be available against which the temporary differences can be utilized. At the end of each reporting period, CAAP reassesses unrecognized deferred tax assets . The group recognizes a previously unrecognized deferred tax asset to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered.
Employee benefits	Employee benefits Compensation to employees in the event of dismissal is charged to income in the year in which it becomes payable. Some entities of the Group have long term employee benefits that are unfunded defined benefit plan in accordance with IAS 19 - “Employee Benefits”. The company calculates annually the provision for employee retirement cost based on actuarial calculations performed by independent professionals using the Projected Unit Credit Costs method. The present value of the defined benefit obligations at each year-end is calculated discounting estimated future cash outflows at an annual rate equivalent to the average rate of high quality corporate bonds, which are denominated in the same currency in which the benefits will be paid, and whose terms approximate the terms of the pension obligations. Service cost and interest cost are recognized in the income statement, with actuarial gains and losses arising from changes in actuarial assumptions are recognized in the Consolidated Statement of Comprehensive Income. Actuarial assumptions include variables such as, in addition to the discount rate, death rate, age, sex, years of service, current and future level of salaries, turnover rates, among others.
Provisions	Provisions Provisions for legal claims and other charges are recognized when: the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognized as interest expense. The concession agreements in the different jurisdictions include certain commitments to be complied by each company. These commitments can be grouped in two categories: • Works that can be classified as standard maintenance of the infrastructure, which are expensed as incurred • Major scheduled maintenance and refurbishments of the infrastructure in the future. Since IFRIC 12 does not recognize infrastructure as property, plant and equipment, rather as a right to charge customers for the use of the infrastructure, major refurbishments and renewals to be performed in future years to maintain or restore the infrastructure asset to its level of functionality, operation and safety should be recognized in accordance with IAS 37 - Provisions, Contingent Liabilities and Assets (unless the grantor agrees to reimburse the operator). Provision is recorded at the best estimate of the amount of the expenditure expected to be incurred to perform the major overhaul or restoration work, discounted using a rate that reflects time value of money and risks involved.
Trade payables	Trade payables Trade payables are initially recognized at fair value, generally the nominal invoice amount and are subsequently measured at amortized cost.
Concession fee payable	Concession fee payable Each concession agreement determines different types of concession fees to be paid to the corresponding regulatory authority. Fees could be fixed or variable. Some concession agreements establish both a minimum fixed payment, and an additional variable amount if certain conditions are met (such as a minimum number of passengers, among others). For those concession agreements that require payment of a fixed amount, the Company recognized the obligation at present value. The increase in the provision due to the passage of time is recognized as interest expense. The variable concession fees paid to the grantor derived from the concession agreements are recognized as cost of the period. The fixed concession fee payable pursuant to the Brazilian concession agreements are capitalized at inception of the agreement as concession assets- intangible asset.
Revenue recognition	Revenue recognition Revenue from airports operations includes: -Aeronautical revenues, which are those generally regulated under each airport’s concession agreement. It consists of passengers’ departure fees, landing, parking and other fees paid by the airlines. - Commercial revenues: those are typically not regulated under the applicable concession agreement. Commercial revenues are leases and/or rent fees from retail (including duty free), food and beverage, services and car rental companies, advertising and car parking, fueling charges and cargo fees, among others. - Construction service revenues: IFRIC 12 requires to recognize revenues and costs from the construction or upgrade services provided. Construction service revenue equals the construction or upgrade costs plus a reasonable margin. Revenue is recognized when the amount of revenue may be reliably measured; it is probable that economic benefits associated with the transaction will flow to the Company, and when collection is reasonably assured. Revenue is shown net of value-added tax and discounts. Intercompany balances with subsidiaries have been eliminated in consolidation.
Cost of services and other expenses	Cost of services and other expenses Cost of services and expenses are accrued and recognized in the Consolidated Statement of Income. Construction service cost: IFRIC 12 requires to recognize revenues and costs from the construction or upgrade services provided. Construction service revenue equals the construction or upgrade costs plus a reasonable margin. Commissions, freight and other selling expenses, including services and fees, office expenses and maintenance, are recorded in Selling, general and administrative expenses
Government grant	Government grant As consideration for having granted the concession of the Group A of the Argentine Airports, AA2000 assigns to the Government 15% of the total revenues of the concession, 2.5% of such revenues are destined to fund the investments commitments of AA2000 corresponding to the investment plan under the concession agreement by means of a trust in which AA2000 is the settlor; Banco de la Nación Argentina, the trustee; and the beneficiaries are AA2000 and constructors of the airports’ works. The funds in the trust are used to settle the accounts payable to suppliers of the infrastructure being built in the Argentine Airport System. As per IAS 20, the benefit received by AA2000 qualifies as a grant related to income on a monthly basis that it is recognized at fair value since there is a reasonable assurance that such benefit will be received.
Financial instruments	Financial instruments Non derivative financial instruments comprise investments in debt instruments, corporate bonds, time deposits, trade and other receivables, cash and cash equivalents, borrowings, and trade and other payables. The Group’s non derivative financial instruments are classified into the following categories: § Financial assets at amortized cost: comprise trade receivables, other receivables and cash and cash equivalents and are measured at amortized cost using the effective interest method less any impairment. § Financial assets at fair value through profit or loss: comprise corporate bonds and are measured at its fair value. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. § Financial liabilities: comprises borrowings, trade payables and other liabilities and are measured at amortized cost using the effective interest method. The classification depends on the nature and purpose of the financial instrument and is determined at the time of initial recognition. Financial assets and liabilities are recognized on the trade-date, and derecognized on their realization or settlement date. Gains and losses from financial assets measured at amortized cost and which are not part of a hedging relationship are recognized through profit or loss when the financial asset is derecognized or impaired by the amortization process using the effective interest rate method. Gains or losses on a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognized in profit or loss and presented net in the profit or loss statement within other gains/(losses) in the period in which it arises. Interest income from these financial assets is included in the finance income.
Segment information	Segment information Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker ("CODM"), which is the Group´s Board. The CODM is responsible for allocating resources and assessing performance of the operating segments. The operating segments are described in Note 4. For management purposes, the Company analyzes its business based on the geographic perspective, the country where the airports are located. Therefore, the Company identified the following segments: Argentina, Brazil, Uruguay, Ecuador, Italy, Armenia and Perú. Others include all other business activities that are not required to be separately reported. Assets, liabilities and results from holding companies are included as Unallocated.

Basis of presentation and acc39

Basis of presentation and accounting policies (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Basis Of Preparation And Significant Accounting Policies [Abstract]
Schedule of subsidiaries of company	Country of Percentage of ownership at Company incorporation Local currency Main activity 2017 2016 2015 Abafor S.A. (*) Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % ACI AIA S.à r.l(*)(**) Luxembourg Euros Holding company - 100.00 % 100.00 % ACI Airport Sudamérica S.A.U. Spain Euros Holding company 100.00 % 100.00 % 100.00 % ACI Airports Italia S.A. (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % America International Airports LLC (AIA) (*) USA U.S. dollars Holding company 100.00 % 100.00 % 100.00 % Cargo & Logistics S.A. (*) Argentina Argentine pesos Holding company 98.63 % 98.63 % 98.63 % CASA Aeroportuaria S.A. (*) Argentina Argentine pesos Holding company 99.98 % 99.98 % 99.98 % Cedicor S.A (*) Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % Cerealsur S.A. Uruguay Uruguayan pesos Holding company 100.00 % 100.00 % 100.00 % Corporación Aeroportuaria S.A. (*) Argentina Argentine pesos Holding company 100.00 % 100.00 % 100.00 % Corporación América Italia S.A. Italy Euros Holding company 100.00 % 100.00 % 100.00 % Corporación América S.A. (*) Argentina Argentine pesos Holding company 95.37 % 95.37 % 95.37 % Corporación América Sudamericana S.A. Panamá U.S. dollars Holding company 94.68 % 94.68 % 94.68 % DICASA Spain S.A. (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % GOFI Investments S.L (*) Spain Euros Holding company 100.00 % 100.00 % 100.00 % Inframérica Participaçoes S.A. (*) Brazil Brazilian real Holding company 99.96 % 99.96 % 99.96 % Yokelet S.L. (*) Spain Euros Holding company 100.00 % 100.00 % 90.00 % (*) (**) This company was dissolved on June 30, 2017. Country of Percentage of ownership at Company incorporation Local currency Main activity 2017 2016 2015 Aerocombustibles Argentinos S.A. Argentina Argentine pesos Fueling company 92.98 % 92.98 % 92.98 % Aeropuerto de Bahía Blanca S.A. Argentina Argentine pesos Airports Operation 81.06 % 81.06 % 81.06 % Aeropuertos Argentina 2000 S.A.(“AA2000”) (***) Argentina Argentine pesos Airports Operation 81.29 % 81.29 % 81.29 % Aeropuertos del Neuquén S.A. Argentina Argentine pesos Airports Operation 74.10 % 74.10 % 74.10 % Arrnenia International Airports CJSC Armenia Dram Airports Operation 100.00 % 100.00 % 100.00 % CAI S.A. Uruguay Uruguayan pesos Airports Operation 100.00 % 100.00 % 100.00 % Enarsa Aeropuertos S.A. Argentina Argentine pesos Fuel plants 76.29 % 76.29 % 76.29 % Inframerica Concessionária do Brazil Brazilian real Airports Operation 50.98 % 50.98 % 50.98 % Inframerica Concessionária do Brazil Brazilian real Airports Operation 99.97 % 99.96 % 99.95 % Paoletti América S.A. (****) Argentina Argentine pesos Service company 40.65 % 40.65 % 40.65 % Puerta del Sur S.A. Uruguay Uruguayan pesos Airports Operation 100.00 % 100.00 % 100.00 % Servicios y Tecnología Aeroportuaria S.A. Argentina Argentine pesos Service company 80.73 % 80.73 % 80.73 % TCU S.A. Uruguay Uruguayan pesos Service company 100.00 % 100.00 % 100.00 % Terminal Aeroportuaria Guayaquil S.A. (“TAGSA”) (*****) Ecuador U.S. dollars Airports Operation 49.99 % 49.99 % 49.99 % Texelrío S.A. Argentina Argentine pesos Service company 56.91 % 56.91 % 56.91 % Toscana Aeroporti S.p.A. Italy Euros Airports Operation 51.13 % 51.13 % 51.13 % Villalonga Furlong S.A. Argentina Argentine pesos Service company 78.91 % 78.91 % 78.91 % (***) Includes a 9.35% direct interest of Cedicor S.A. in AA2000, acquired by Cedicor S.A. in 2011. This participation is subject to the authorization by the ORSNA pursuant to section 7.2 of the Argentine Concession Agreement. As of the date of issuance of these Consolidated Financial Statements, the ORSNA has not issued any resolution approving or rejecting the aforementioned transaction. While this approval is pending, all economic and political rights pertaining to the shares, including all distributed dividends, have been assigned to Cedicor S.A. (****) The group has control over this company based on having majority representation in the board, power to direct the process of setting of financial and operating policies and execute the operational management of such Company. (*****) The group has control over this company based on having power to direct the process of setting of financial and operating policies and execute the operational management of such Company.
Schedule of summary financial information of Group's subsidiaries represents amounts before intragroup elimination	Toscana Aeroporti S.p.a. December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 236,893 199,316 203,251 Current assets 62,144 51,453 60,788 Total assets 299,037 250,769 264,039 Non-current liabilities 73,762 68,646 76,629 Current liabilities 89,057 63,806 67,080 Total liabilities 162,819 132,452 143,709 Equity 136,218 118,317 120,330 Revenue 154,526 141,347 152,663 Gross profit 50,269 45,057 41,438 Operating income 19,469 17,854 14,212 Financial Results (1,630 ) (1,240 ) (1,894 ) Share of income in associates 39 - 1,842 Income tax expense (5,893 ) (5,624 ) (4,654 ) Net income 11,985 10,990 9,506 Other comprehensive (income) / loss for the year 16,469 (4,643 ) (10,761 ) Total comprehensive income/(loss) for the year 28,454 6,347 (1,255 ) Dividends paid (10,584 ) (4,268 ) (3,831 ) Increase/(decrease) in cash Provided by operating activities 13,345 16,514 23,210 Used in investing activities (19,315 ) (10,170 ) (7,319 ) Used in financing activities (9,981 ) (10,979 ) (9,634 ) Terminal Aeroportuaria de Guayaquil S.A. December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 51,941 55,188 62,134 Current assets 42,760 45,053 40,520 Total assets 94,701 100,241 102,654 Non-current liabilities 6,571 11,566 8,114 Current liabilities 42,929 44,307 56,633 Total liabilities 49,500 55,873 64,747 Equity 45,201 44,368 37,907 Revenue 85,310 85,301 79,045 Gross profit 35,063 36,220 32,287 Operating income 19,087 20,626 15,806 Financial Results (479 ) (1,395 ) (2,377 ) Share of income in associates - - - Income tax expense (1,653 ) (1,768 ) (1,466 ) Net income 16,955 17,463 11,963 Other comprehensive income for the year - - - Total comprehensive income for the year 16,955 17,463 11,963 Dividends paid (17,371 ) (16,157 ) (7,315 ) Increase/(decrease) in cash Provided by operating activities 24,743 26,951 20,336 Provided by/ (used in) investing activities (24,585 ) 8,995 (5,303 ) Used in financing activities (23,066 ) (23,397 ) (20,563 ) Inframerica Conssesionária do Aeroporto de December 31, 2017 December 31, 2016 December 31, 2015 Non-current assets 1,267,647 1,373,179 1,114,659 Current assets 48,747 126,418 54,346 Total assets 1,316,394 1,499,597 1,169,005 Non-current liabilities 1,060,174 1,206,457 954,791 Current liabilities 250,671 211,667 94,464 Total liabilities 1,310,845 1,418,124 1,049,255 Equity 5,549 81,473 119,750 Revenue 111,259 99,889 N/A Gross profit 14,538 19,511 N/A Operating income (161 ) 7,143 N/A Financial Results (116,222 ) (128,403 ) N/A Share of income in associates - - N/A Income tax expense 38,798 40,425 N/A Net loss (77,585 ) (80,835 ) N/A Other comprehensive income for the year 1,764 24,372 N/A Total comprehensive loss for the year (75,821 ) (56,463 ) N/A Dividends paid - - N/A Increase/(decrease) in cash Used in operating activities (76,445 ) (10,674 ) N/A Used in investing activities (10,065 ) (16,172 ) N/A Provided by financing activities 87,216 10,489 N/A Aeropuertos Argentina 2000 S.A. December 31, December 31, December 31, 2017 2016 2015 Non-current assets 707,952 544,697 487,122 Current assets 199,222 146,034 94,881 Total assets 907,174 690,731 582,003 Non-current liabilities 411,561 159,411 212,192 Current liabilities 150,225 220,822 145,767 Total liabilities 561,786 380,233 357,959 Equity 345,388 310,498 224,044 Revenue 994,782 837,380 780,870 Gross profit 360,822 339,344 283,732 Operating income 282,422 270,672 211,424 Financial Results (52,788 ) (53,036 ) (135,847 ) Share of income in associates - - - Income tax expense (67,620 ) (81,501 ) (26,152 ) Net income 162,014 136,135 49,425 Other comprehensive loss for the year (50,945 ) (49,680 ) (113,471 ) Total comprehensive income (loss) for the year 111,069 86,455 (64,046 ) Dividends paid (76,178 ) - - Increase/(decrease) in cash (Used in) /provided by operating activities (53,509 ) 114,704 47,192 Used in investing activities (185 ) (1,028 ) (652 ) Provided by /(used in) financing activities 129,370 (79,748 ) (63,915 )
Schedule of estimated useful life of property, plant and equipment	Buildings and improvements 25-30 years Plant and production equipment 3-10 years Vehicles, furniture and fixtures, and other equipment 4-10 years

Financial Risk Management (Tabl

Financial Risk Management (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Schedule of breakdown of the Group's main monetary net assets and liabilities	Currency Exposure / Functional currency As of December 31, As of December 31, As of December 31, U.S. dollar / Argentine Peso (267,045 ) (131,284 ) (154,384 ) Real / U.S. dollar 90,697 - - Euro / Armenian dram (50,939 ) (47,473 ) (51,952 ) U.S. dollar / Armenian dram (30,291 ) (54,016 ) (55,421 ) Euro / U.S. dollar 1,535 283 3,162 Uruguayan peso / U.S. dollar 11 (1,853 ) (770 )
Schedule of breakdown of the Group's fixed-rate and floating-rate borrowings	At December 31, 2017 2016 2015 Fixed rate 738,320 630,541 696,066 Variable rate 748,125 476,700 391,500 1,486,445 1,107,241 1,087,566
Schedule of capital management	At December 31, 2017 2016 2015 Borrowings 1,486,445 1,107,241 1,087,566 Less: Cash and cash equivalents (221,601 ) (212,988 ) (184,239 ) Net borrowings 1,264,844 894,253 903,327 Equity 797,142 803,324 834,101 Debt ratio 159 % 111 % 108 %
Schedule of financial instruments by category	December 31, 2017 Assets at fair Assets at Total Assets as per the statement of financial position Trade receivables - 126,078 126,078 Other receivables - 293,578 293,578 Other financial assets (*) 16,214 26,082 42,296 Cash and cash equivalents - 221,601 221,601 Total 16,214.00 667,339 683,553 Liabilities at fair Liabilities at Total Liabilities as per the statement of financial position Borrowings - 1,486,445 1,486,445 Trade payables and other liabilities - 1,198,562 1,198,562 Total - 2,685,007 2,685,007 (*) Other financial assets measured at fair value are Level 1 hierarchy. December 31, 2016 Assets at fair value through profit and loss Assets at amortized cost Total Assets as per the statement of financial position Trade receivables - 109,610 109,610 Other receivables - 193,087 193,087 Other financial assets - 34,657 34,657 Cash and cash equivalents - 212,988 212,988 Total - 550,342 550,342 Liabilities at fair Liabilities at Total Liabilities as per the statement of financial position Borrowings - 1,107,241 1,107,241 Trade payables and other liabilities - 1,434,901 1,434,901 Total - 2,542,142 2,542,142 December 31, 2015 Assets at fair Assets at Total Assets as per the statement of financial position Trade receivables - 101,358 101,358 Other receivables - 122,072 122,072 Other financial assets - 55,390 55,390 Cash and cash equivalents - 184,239 184,239 Total - 463,059 463,059 Liabilities at fair Liabilities at Total Liabilities as per the statement of financial position Borrowings - 1,087,566 1,087,566 Trade payables and other liabilities - 1,140,966 1,140,966 Total - 2,228,532 2,228,532

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of operating segments [abstract]
Schedule of geographical information of operating segments	Argentina Brazil Uruguay Armenia Ecuador Italy Perú Airports Others Airports Airports Others Airports Airports Airports Airports Intrasegment Unallocated Total Continuing Total Discontinued Year ended December 31, 2017 Revenue 1,000,303 422 128,842 100,553 15,774 94,464 85,310 154,526 - (10,191 ) 5,150 1,575,153 - Cost of services (638,216 ) (144 ) (116,164 ) (48,371 ) (12,184 ) (52,863 ) (50,247 ) (104,257 ) - 6,778 (14,315 ) (1,029,983 ) - Gross profit 362,087 278 12,678 52,182 3,590 41,601 35,063 50,269 - (3,413 ) (9,165 ) 545,170 - Selling, general and administrative expenses (96,737 ) (242 ) (14,361 ) (11,758 ) (1,323 ) (11,263 ) (16,185 ) (30,800 ) - 3,413 (14,945 ) (194,201 ) - Reversal of previous impairment/(Impairment loss) - - 3,065 - - - - - - - - 3,065 - Other operating income 18,942 69 - 74 341 149 287 - - - 91 19,953 - Other operating expenses (1,271 ) (1 ) (1,622 ) (623 ) (371 ) (827 ) (77 ) - - (9 ) (37 ) (4,838 ) - Operating income 283,021 104 (240 ) 39,875 2,237 29,660 19,088 19,469 - (9 ) (24,056 ) 369,149 - Share of loss in associates - - - - - - - 39 (15,283 ) - (597 ) (15,841 ) - Amortization and depreciation 32,121 - 17,038 12,495 590 11,493 7,376 10,302 - - 16,899 108,314 - Adjusted Ebitda 315,142 104 16,798 52,370 2,827 41,153 26,464 29,810 (15,283 ) (9 ) (7,754 ) 461,622 - Financial income 62,555 - Financial loss (302,047 ) - Amortization and depreciation (108,314 ) - Income before income tax expense 113,816 - Income tax expense (46,925 ) - Net income 66,891 - Current assets 200,982 425 66,631 24,697 2,887 38,110 42,760 62,144 - (74,280 ) 215,122 579,478 - Non-current assets 709,689 7 1,432,833 159,880 5,121 173,087 51,941 236,893 11,790 (1,093 ) 441,588 3,221,736 - Capital Expenditure 231,998 41 13,589 6,327 852 5,778 934 20,013 - - 24 279,556 - Current liabilities 151,794 64 262,624 23,536 3,755 22,741 42,929 89,057 - (73,004 ) 208,526 732,022 - Non-current liabilities 412,242 - 1,271,776 64,050 1,175 95,159 6,571 73,762 - (2,369 ) 349,684 2,272,050 - Year ended December 31, 2016 Revenue 840,852 373 127,038 89,187 14,343 73,234 85,301 141,347 - (8,697 ) 3,358 1,366,336 - Cost of services (500,336 ) (133 ) (110,001 ) (41,842 ) (10,572 ) (42,953 ) (49,081 ) (96,289 ) - 6,132 (13,999 ) (859,074 ) - Gross profit 340,516 240 17,037 47,345 3,771 30,281 36,220 45,058 - (2,565 ) (10,641 ) 507,262 - Selling, general and administrative expenses (84,887 ) (218 ) (12,644 ) (8,292 ) (1,010 ) (11,303 ) (16,159 ) (27,203 ) - 2,599 (11,735 ) (170,852 ) - Reversal of previous impairment/(Impairment loss) - - (16,638 ) - - - - - - - - (16,638 ) - Other operating income 16,944 - - - - - - - - - - 16,944 - Other operating expenses (1,331 ) 58 (643 ) (220 ) (84 ) (2,267 ) 565 - - (34 ) (947 ) (4,903 ) - Operating income 271,242 80 (12,888 ) 38,833 2,677 16,711 20,626 17,855 - - (23,323 ) 331,813 - Share of loss in associates - - - - - - - - (397 ) - (909 ) (1,306 ) - Amortization and depreciation 22,791 - 16,736 11,682 527 11,360 7,344 9,478 - - 16,772 96,690 - Adjusted Ebitda 294,033 80 3,848 50,515 3,204 28,071 27,970 27,333 (397 ) - (7,460 ) 427,197 - Financial income 37,521 - Financial loss (272,951 ) - Amortization and depreciation (96,690 ) - Income before income tax expense 95,077 - Income tax expense (56,359 ) - Net income 38,718 (9,478 ) Current assets 147,058 371 134,817 25,452 2,821 30,242 45,053 51,453 - (55,816 ) 125,674 507,125 - Non-current assets 546,011 9 1,533,910 166,048 5,042 176,520 55,189 199,317 8,504 (599 ) 430,200 3,120,151 - Capital Expenditure 155,026 13 16,692 5,749 2,072 2,003 426 12,102 - 316 - 194,399 - Current liabilities 221,726 58 233,649 17,104 2,820 18,225 44,307 63,806 - (55,451 ) 116,532 662,776 - Non-current liabilities 159,688 - 1,402,430 69,899 1,860 103,030 11,566 68,645 - (966 ) 345,024 2,161,176 - Argentina Brazil Uruguay Armenia Ecuador Italy Perú Airports Others Airports Airports Others Airports Airports Airports Airports Intrasegment Unallocated Total Continuing Total Discontinued Year ended December 31, 2015 Revenue 783,850 439 813 83,862 15,333 74,701 79,045 152,663 - (6,291 ) 2,675 1,187,090 - Cost of services (499,686 ) (166 ) (937 ) (39,136 ) (10,567 ) (49,534 ) (46,759 ) (111,225 ) - 6,291 (7,436 ) (759,155 ) - Gross profit 284,164 273 (124 ) 44,726 4,766 25,167 32,286 41,438 - - (4,761 ) 427,935 - Selling, general and administrative expenses (87,730 ) (278 ) (16 ) (10,317 ) (1,004 ) (10,266 ) (14,629 ) (27,226 ) - - (15,753 ) (167,219 ) - Reversal of previous impairment/(Impairment loss) - - - - - - - - - - - - - Other operating income 15,573 - - - - - - - - - - 15,573 - Other operating expenses (629 ) 71 42 (132 ) (63 ) (1,005 ) (1,852 ) - - - 901 (2,667 ) - Operating income 211,378 66 (98 ) 34,277 3,699 13,896 15,805 14,212 - - (19,613 ) 273,622 - Share of (loss)/ income in associates - - (71,958 ) - - - - 1,842 816 - (17 ) (69,317 ) - Amortization and depreciation 21,810 - 218 11,332 463 11,367 7,306 9,625 - - 10,126 72,247 - Adjusted Ebitda 233,188 66 (71,838 ) 45,609 4,162 25,263 23,111 25,679 816 - (9,504 ) 276,552 - Financial income 46,807 - Financial loss (199,839 ) - Amortization and depreciation (72,247 ) - Income before income tax expense 51,273 - Income tax expense (44,969 ) - Net income 6,304 108,987 Current assets 95,907 339 59,706 26,032 2,282 39,415 40,520 60,785 - (112,052 ) 181,788 394,722 - Non-current assets 488,901 11 1,261,464 172,746 3,780 185,913 62,134 203,250 9,248 (38,105 ) 527,563 2,876,905 - Capital Expenditure 100,832 8 - 5,038 543 4,286 2,122 24,896 - - 8,458 146,183 - Current liabilities 147,084 52 123,557 15,137 2,324 26,291 56,633 67,079 - (148,218 ) 192,097 482,036 - Non-current liabilities 212,581 - 1,107,836 71,163 1,078 117,439 8,114 76,629 - (1,942 ) 362,592 1,955,490 -

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2017
Revenue [abstract]
Schedule of Revenue	2017 2016 2015 Aeronautical revenue 767,023 673,509 543,228 Non aeronautical revenue Commercial revenue 555,504 522,199 459,717 Construction service revenue 250,112 165,065 178,420 Other revenue 2,514 5,563 5,725 1,575,153 1,366,336 1,187,090

Cost of services (Tables)

Cost of services (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Cost Of Sales [Abstract]
Schedule of cost of services	2017 2016 2015 Salaries and social security contributions (**) (210,799 ) (184,623 ) (165,774 ) Concession fees (***) (191,933 ) (176,492 ) (133,846 ) Construction service cost (248,602 ) (163,747 ) (176,972 ) Maintenance expenses (145,787 ) (126,924 ) (125,825 ) Amortization and depreciation (100,674 ) (89,540 ) (64,772 ) Services and fees (54,479 ) (49,045 ) (42,472 ) Cost of fuel (27,818 ) (19,458 ) (21,339 ) Taxes (*) (19,511 ) (17,543 ) (2,711 ) Office expenses (17,256 ) (15,885 ) (9,756 ) Provision for maintenance costs (2,314 ) (4,679 ) (5,391 ) Others (10,810 ) (11,138 ) (10,297 ) (1,029,983 ) (859,074 ) (759,155 ) (*) Mainly includes tax from turnover and municipal taxes. (**) (***) Includes depreciation for Brazil concession assets of US$ 29,816 as of December 31, 2017 (US$ 26,192 as of December 31, 2016).

Selling, general and administ44

Selling, general and administrative expenses (Tables)	12 Months Ended
	Dec. 31, 2017
Selling, general and administrative expense [abstract]
Schedule of selling, general and administrative expenses	2017 2016 2015 Taxes (*) (54,883 ) (50,908 ) (43,188 ) Salaries and social security contributions (35,812 ) (34,832 ) (31,508 ) Services and fees (58,511 ) (48,123 ) (52,481 ) Office expenses (11,620 ) (9,966 ) (10,353 ) Amortization and depreciation (7,640 ) (7,150 ) (7,475 ) Maintenance expenses (4,215 ) (5,113 ) (5,901 ) Advertising (3,044 ) (2,229 ) (3,249 ) Insurance (2,289 ) (1,397 ) (517 ) Charter service (830 ) (1,162 ) (2,336 ) Bad debts recovery 268 2,248 - Bad debts (7,672 ) (1,976 ) (2,574 ) Other (7,953 ) (10,244 ) (7,637 ) (194,201 ) (170,852 ) (167,219 ) (*) Mainly included tax from taxes over banks transactions and tax on revenue.

Other operating income (Tables)

Other operating income (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Other Operating Income [Abstract]
Schedule of other operating income	2017 2016 2015 Government grant (*) (Note 25) 18,942 16,944 15,573 Other 1,011 - - 19,953 16,944 15,573 (*) Corresponds to government grant for the development of airport infrastructure in Group A (operated by AA2000) of the National Airport System. There are no unfulfilled conditions or other contingencies attaching to these grants. The group did not benefit directly from any other forms of government assistance.

Financial results, net (Tables)

Financial results, net (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Finance Income Expense [Abstract]
Schedule of financial results, net	9 Financial results, net 2017 2016 2015 Interest income 39,229 19,009 12,366 Foreign exchange income 23,112 18,512 34,441 Other 214 - - Financial income 62,555 37,521 46,807 Interest expense (115,223 ) (118,219 ) (69,228 ) Foreign exchange loss (82,333 ) (44,895 ) (125,240 ) Changes in liability for Brazil concessions (Note 22) (98,122 ) (107,408 ) (2,039 ) Other (6,369 ) (2,429 ) (3,332 ) Financial loss (302,047 ) (272,951 ) (199,839 ) Net financial results (239,492 ) (235,430 ) (153,032 )

Share of loss in associates (Ta

Share of loss in associates (Tables)	12 Months Ended
	Dec. 31, 2017
Share Of Loss In Associates [Abstract]
Schedule of share of loss in associates	2017 2016 2015 Loss in associates (Note 14) (15,841 ) (1,306 ) (69,317 ) (15,841 ) (1,306 ) (69,317 )

Income tax expense (Tables)

Income tax expense (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Income Tax [Abstract]
Schedule of income tax expense	2017 2016 2015 Current income tax (88,768 ) (97,122 ) (49,894 ) Deferred income tax 41,843 40,763 4,925 (46,925 ) (56,359 ) (44,969 )
Schedule of effective income tax rate differs from theoretical amount	2017 2016 2015 Income before income tax 113,816 95,077 51,273 Tax expense calculated for each company (41,342 ) (35,778 ) (8,637 ) Adjustments Non-taxable income 12,682 20,515 11,478 Expenses related to non-taxable income (24,762 ) (31,281 ) (38,919 ) Non-deductible expenses (8,799 ) (2,867 ) (6,709 ) Tax incentive 1,665 448 - Tax relieving - (6,307 ) - Income tax rate change (*) 12,533 - - Other 1,098 (1,089 ) (2,182 ) Income tax expense (46,925 ) (56,359 ) (44,969 ) (*) On December 29, 2017, the National Executive Office of Argentina issued Law 27430 - Income Tax. This law has introduced several changes in the treatment of income tax whose key components are the following: Income Tax Rate: The Income Tax rate for Argentine companies will be gradually reduced from 35% to 30% for fiscal years starting from January 1, 2018 until December 31, 2019 and to 25% for fiscal years beginning on or after January 1, 2020, inclusive.

Intangible assets, net (Tables)

Intangible assets, net (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about intangible assets [abstract]
Schedule of changes in intangible assets	Concession Assets Goodwill Patent, intellectual Total Cost Balances at January 1, 2017 3,334,564 56,013 15,162 3,405,739 Acquisitions 266,380 - 1,664 268,044 Reversal of previous impairment loss 3,065 - - 3,065 Disposals (2,803 ) - 38 (2,765 ) Other (Note 22) (84,075 ) - - (84,075 ) Translation differences (205,125 ) 1,036 (1,997 ) (206,086 ) Balances at December 31, 2017 3,312,006 57,049 14,867 3,383,922 Balances at January 1, 2016 2,899,618 56,699 20,004 2,976,321 Acquisitions 183,160 - 848 184,008 Impairment loss (16,638 ) - - (16,638 ) Disposals (23 ) - (5,617 ) (5,640 ) Other (Note 22) 9,132 - - 9,132 Translation differences 259,315 (686 ) (73 ) 258,556 Balances at December 31, 2016 3,334,564 56,013 15,162 3,405,739 Balances at January 1, 2015 1,742,739 50,773 16,376 1,809,888 Acquisitions of subsidiaries (Note 26) 1,338,951 51,303 2,035 1,392,289 Acquisitions 137,612 - 386 137,998 Disposals (3,413 ) - - (3,413 ) Disposals of subsidiaries - (44,357 ) - (44,357 ) Translation differences (316,271 ) (1,020 ) 1,207 (316,084 ) Balances at December 31, 2015 2,899,618 56,699 20,004 2,976,321 Depreciation Accumulated at January 1, 2017 569,090 306 11,156 580,552 Amortization of the year 129,667 - 580 130,247 Translation differences (144,990 ) 7 (248 ) (145,231 ) Accumulated at December 31, 2017 553,767 313 11,488 565,568 Accumulated at January 1, 2016 354,593 298 10,727 365,618 Amortization of the year 114,496 66 775 115,337 Translation differences 100,001 (58 ) (346 ) 99,597 Accumulated at December 31, 2016 569,090 306 11,156 580,552 Accumulated at January 1, 2015 343,823 340 11,374 355,537 Amortization of the year 63,761 105 573 64,439 Translation differences (52,991 ) (147 ) (1,220 ) (54,358 ) Accumulated at December 31, 2015 354,593 298 10,727 365,618 Net balances at December 31, 2017 2,758,239 56,736 3,379 2,818,354 Net balances at December 31, 2016 2,765,474 55,707 4,006 2,825,187 Net balances at December 31, 2015 2,545,025 56,401 9,277 2,610,703
Schedule of sensitivity analysis of impairment applied to intangible assets	As of December 31, 2017: Rate (6.08+ Estimated rate Estimated rate (6.6%+ Impairment value 3,065 11,433 (4,737 ) Effect 8,380 (7,790 ) As of December 31, 2016: Rate (6.8+ Estimated rate Estimated rate (7.08%+ Impairment value 16,638 11,745 21,634 Effect (4,893 ) 4,996
Schedule of carrying value of the assets impaired	Net assets before Impairment Net assets after ICASGA 98,198 (16,638 ) 81,560

Property, plant and equipment50

Property, plant and equipment, net (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [abstract]
Schedule of property, plant and equipment, net	Land, building Plant and Vehicles, Wells and Mining Works in Exploration and Others Total Cost Balances at January 1, 2017 48,312 45,287 37,693 - - 1,001 - 18,411 150,704 Purchase of property, plant and equipment 632 2,487 4,659 - - 456 - 3,278 11,512 Disposals - - (355 ) - - - - (349 ) (704 ) Transfer 199 2,466 (2,466 ) - - - - (199 ) - Transfer to Intangible - - - - - - - - - Translation differences 5,512 4,149 948 - - 10 - 1,476 12,095 Balances at December 31, 2017 54,655 54,389 40,479 - - 1,467 - 22,617 173,607 Balances at January 1, 2016 49,234 47,320 34,218 - - 991 - 22,882 154,645 Purchase of property, plant and equipment 1,398 3,357 4,175 - - 55 - 1,406 10,391 Disposals (329 ) - (223 ) - - - - (125 ) (677 ) Disposals of subsidiaries (575 ) (4,211 ) (46 ) - - - - (5,617 ) (10,449 ) Translation differences (1,416 ) (1,179 ) (431 ) - - (45 ) - (135 ) (3,206 ) Balances at December 31, 2016 48,312 45,287 37,693 - - 1,001 - 18,411 150,704 Balances at January 1, 2015 52,292 50,698 42,959 140,066 34,332 5,331 44,758 42,254 412,690 Acquisitions of subsidiary (Note 26) - 1,352 400 - - - - - 1,752 Purchase of Property plant and equipment 2,843 1,574 2,965 - - 111 - 692 8,185 Disposals (566 ) (119 ) (10,675 ) - - (153 ) - (13,089 ) (24,602 ) Transfers - - 29 - - - - - 29 Disposals of subsidiaries - (68 ) (104 ) (140,066 ) (34,332 ) (4,184 ) (44,758 ) (2,276 ) (225,788 ) Translation differences (5,335 ) (6,117 ) (1,356 ) - - (114 ) - (4,699 ) (17,621 ) Balances at December 31, 2015 49,234 47,320 34,218 - - 991 - 22,882 154,645 Depreciation Accumulated at January 1, 2017 10,449 35,307 23,391 - - - - 15,573 84,720 Depreciation of the year 777 3,021 3,057 - - - - 1,028 7,883 Disposals - - (238 ) - - - - (175 ) (413 ) Translation differences 1,208 4,048 17 - - - - 1,661 6,934 Accumulated at December 31, 2017 12,434 42,376 26,227 - - - - 18,087 99,124 Accumulated at January 1, 2016 9,911 34,249 21,217 - - - - 17,579 82,956 Depreciation of the year 921 2,497 2,643 - - - - 1,484 7,545 Disposals - - (209 ) - - - - - (209 ) Disposals of subsidiaries - (499 ) (11 ) - - - - (2,956 ) (3,466 ) Other (28 ) - - - - - - (113 ) (141 ) Translation differences (355 ) (940 ) (249 ) - - - - (421 ) (1,965 ) Accumulated at December 31, 2016 10,449 35,307 23,391 - - - - 15,573 84,720 Accumulated at January 1, 2015 9,958 34,197 25,877 101,117 20,243 - - 30,037 221,429 Depreciation of the year 1,023 3,433 1,490 - - - - 1,862 7,808 Disposals - (12 ) (5,387 ) - - - - (10,413 ) (15,812 ) Disposals of subsidiaries - - (5 ) (101,117 ) (20,243 ) - - (641 ) (122,006 ) Translation differences (1,070 ) (3,369 ) (758 ) - - - - (3,266 ) (8,463 ) Accumulated at December 31, 2015 9,911 34,249 21,217 - - - - 17,579 82,956 Net balances at December 31, 2017 42,221 12,013 14,252 - - 1,467 - 4,530 74,483 Net balances at December 31, 2016 37,863 9,980 14,302 - - 1,001 - 2,838 65,984 Net balances at December 31, 2015 39,323 13,071 13,001 - - 991 - 5,303 71,689

Investments in associates (Tabl

Investments in associates (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of associates [abstract]
Schedule of investment in associates	For the Year ended December 31, 2017 2016 2015 Balances at the beginning of the year 10,927 14,450 169,660 Translation differences 432 (44 ) (39,999 ) Share of loss in associates (15,841 ) (1,306 ) (69,317 ) Contributions 17,950 ( 2 13 54,317 Disposals of associates - (2,186 ) (40,275 ) Decrease ( 1 (33 ) - (59,936 ) Balances at the end of the year 13,435 10,927 14,450 ( 1 ( 2
Schedule of breakdown of the share of income or loss in associates	2017 2016 2015 Caminos del Paraná S.A. 35 402 - Aeropuertos Andinos del Perú S.A. (9,338 ) 168 1,342 Sociedad Aeroportuaria KunturWasi S.A. (5,945 ) (565 ) (526 ) Inframérica Participacões S.A. - - (19,050 ) Inframerica Concessionaria do Aeroporto de Sao Goncalo do Amarante S.A. - - (52,908 ) Others (593 ) (1,311 ) 1,825 (15,841 ) (1,306 ) (69,317 )
Schedule of main Associates	Country of Percentage of ownership at December 31, Company Main activity incorporation 2017 2016 2015 2017 2016 2015 Aeropuertos Ecológicos de Galápagos S.A. (*) Airport Operation Ecuador 99.9 % 99.9 % 99.9 % 1,000 1,000 1,000 Sociedad Aeroportuaria KunturWasi S.A. (**) Airport Operation Perú 47.68 % 47.68 % 47.68 % - 5,787 6,460 Aeropuertos Andinos del Perú S.A. Airport Operation Perú 50.00 % 50.00 % 50.00 % 11,762 2,717 2,788 Quitotelecenter SA Shopping administrator Ecuador - - 40.00 % - - 2,311 Others - - - - 673 1,423 1,891 13,435 10,927 14,450 (*) Under the terms of the Galapagos Concession Agreement, the net income generated by the Company must be transferred entirely to the Dirección General de Aviación Civil (“DGAC”), however, the Group maintains the operational management of such company and therefore has significant influence. (**) On July 13, 2017, the Government of Peru notified the unilateral decision to rescind the concession agreement for the Nuevo Aeropuerto International de Chinchero. The Company has stated its intention to reach an agreement, however, if it is not achieved, will initiate legal proceedings as established in the concession agreement. In line with this, the Company notified the State of Perú of its disagreement with the unilateral resolution and its intention to begin a Direct Treatment procedure, such procedure as provided in the Concession Agreement. The Company also communicated the non-compliance of certain State obligations under the 1996 Bilateral Investment Agreement between Peru and Argentina for the promotion and protection of investments caused by the mentioned unilateral resolution.
Schedule of aggregated amounts of assets liabilities, equity and profit or loss	Aeropuertos 2017 Non-current assets 31,215 Current assets 4,690 Total assets 35,905 Non-current liabilities 2,430 Current liabilities 9,951 Total liabilities 12,381 Equity 23,524 Revenue 14,681 Income/(Loss) for the year (18,676 ) Other comprehensive income for the year 867 Total comprehensive income for the year (17,809 ) Aeropuertos Sociedad Aeropuertos Sociedad 2016 2016 2015 2015 Non-current assets 37,224 27,917 34,287 27,590 Current assets 7,959 2,566 4,103 498 Total assets 45,183 30,483 38,390 28,088 Non-current liabilities 33,626 15,837 29,155 13,010 Current liabilities 6,123 3,072 4,220 2,157 Total liabilities 39,749 18,909 33,375 15,167 Equity 5,434 11,574 5,015 12,921 Revenue 13,769 - 12,068 - Income/(Loss) for the year 336 (1,543 ) 2,305 (1,005 ) Other comprehensive loss for the year 83 196 (556 ) (1,359 ) Total comprehensive income/(loss) for the year 419 (1,347 ) 1,749 (2,364 )

Deferred income tax (Tables)

Deferred income tax (Tables)	12 Months Ended
	Dec. 31, 2017
Reconciliation of changes in deferred tax liability (asset) [abstract]
Schedule of evolution deferred tax assets and liabilities	Property, plant and equipment and Intangibles Assets Other liabilities Total Balances at January 1, 2017 156,813 72,208 229,021 Increase/(Decrease) of deferred tax assets for the year (5,008 ) 8,645 3,637 Translation differences 2,715 (1,400 ) 1,315 Balances at December 31, 2017 154,520 79,453 233,973 Balances at January 1, 2016 167,229 55,926 223,155 Disposals of subsidiaries (387 ) - (387 ) Increase/(Decrease) of deferred tax assets for the year (6,121 ) 4,687 (1,434 ) Translation differences (3,908 ) 11,595 7,687 Balances at December 31, 2016 156,813 72,208 229,021 Balances at January 1, 2015 142,053 3,160 145,213 Acquisitions of subsidiary (Note 26) 50,965 54,093 105,058 Decrease of deferred tax assets for the year (13,308 ) (226 ) (13,534 ) Disposals of subsidiaries 1,895 (682 ) 1,213 Translation differences (14,376 ) (419 ) (14,795 ) Balances at December 31, 2015 167,229 55,926 223,155 Provisions and allowances Tax loss carry forwards Other Total Balances at January 1, 2017 9,000 169,177 5,709 183,886 Increase of deferred tax assets for the year 1,014 43,435 1,031 45,480 Translation differences (3,411 ) (4,234 ) (722 ) (8,367 ) Balances at December 31, 2017 6,603 208,378 6,018 220,999 Balances at January 1, 2016 8,599 110,621 5,801 125,021 Disposals of subsidiaries (35 ) (1,135 ) - (1,170 ) Increase of deferred tax assets for the year 909 38,205 215 39,329 Translation differences (473 ) 21,486 (307 ) 20,706 Balances at December 31, 2016 9,000 169,177 5,709 183,886 Balances at January 1, 2015 9,787 40,838 10,938 61,563 Acquisitions of subsidiary (Note 26) - 96,907 450 97,357 Increase/(Decrease) of deferred tax assets for the year 673 (8,883 ) (399 ) (8,609 ) Disposals of subsidiaries (668 ) (15,237 ) (3,908 ) (19,813 ) Translation differences (1,193 ) (3,004 ) (1,280 ) (5,477 ) Balances at December 31, 2015 8,599 110,621 5,801 125,021
Schedule of recoverability analysis of deferred tax assets	For the Year ended December 31, 2017 2016 2015 Deferred tax assets to be recovered within 12 months 154 - - Deferred tax assets to be recovered after 12 months 135,399 104,051 51,889 Deferred tax liabilities to be recovered within 12 months (2,471 ) (197 ) (59 ) Deferred tax liabilities to be recovered after 12 months (146,056 ) (148,989 ) (149,964 )
Schedule of unrecognized deferred income tax assets	For the Year ended December 31, 2017 2016 2015 Deferred tax assets 135,327 99,258 47,643 Deferred tax liabilities (148,301 ) (144,393 ) (145,777 )

Other receivables (Tables)

Other receivables (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Other Receivables [Abstract]
Schedule of other receivables	At December 31, 2017 2016 2015 Non-Current Tax credits 28,927 26,772 27,129 Receivables from related parties (Note 27) 2,127 4,781 12,635 Trust funds (**) 136,689 82,942 74,678 Prepaid expenses 234 891 338 Other (***) 5,416 2,688 2,511 173,393 118,074 117,291 Current Tax credits 29,948 23,346 18,992 Guarantee deposit (*) 121,614 96,759 17,085 Trust funds (**) - - 4,842 Receivables from related parties (Note 27) 13,203 4,244 5,252 Prepaid expenses 3,768 7,753 5,661 Other 14,529 5,105 5,069 183,062 137,207 56,901 (*) As of December 31, 2017 includes a time deposit of CAAP for USD 90.7 million in pledge of a loan of Inframérica Concessionária do Aeroporto de Brasilia S.A. with Banco Santander according to Note 21. As of December 31, 2016 includes legal deposit in Brazil for USD 76 million (none in 2015) related to the fixed contribution accrued in the current year from Inframérica Concessionária do Aeroporto de Brasilia S.A. (**) Funds are held by a trust, on which (***) As of December 31, 2017 includes fees related to Initial Public Offering project for USD 2.8 million.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Inventories [Abstract]
Schedule of Inventories	At December 31, 2017 2016 2015 Finished goods 191 621 2,042 Supplies 2,531 2,467 2,071 Oil and byproducts 5,842 4,576 4,111 8,564 7,664 8,224

Trade receivables (Tables)

Trade receivables (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Trade Accounts Receivable [Abstract]
Schedule of Trade receivables	At December 31, 2017 2016 2015 Non-Current Accounts receivable 4,244 - 51 4,244 - 51 Current Accounts receivable 141,253 122,677 113,666 Trade receivables from related parties (Note 27) 1,130 1,484 5,423 Provision for bad debts (20,549 ) (14,551 ) (17,782 ) 121,834 109,610 101,307
Schedule of provision for bad debts	2017 2016 2015 Balances as of the beginning of the year (14,551 ) (17,782 ) (13,652 ) Bad debts of the year (7,672 ) (1,976 ) (2,574 ) Acquisitions of subsidiary - - (5,944 ) Recoveries 268 2,248 - Write off 403 2,390 237 Translation differences 1,003 569 2,274 Disposals of subsidiaries - - 1,877 Balance as of end of year (20,549 ) (14,551 ) (17,782 )
Schedule of aging of trade receivables	Past due Trade Receivables Not due 1 - 180 days > 180 days At December 31, 2017 Non current/current accounts 146,627 35,799 94,838 15,990 Provision for bad debts (20,549 ) (915 ) (4,166 ) (15,468 ) Total trade receivables, net 126,078 34,884 90,672 522 Past due Trade Receivables Not due 1 - 180 days > 180 days At December 31, 2016 Current accounts 124,161 90,655 17,170 16,336 Provision for bad debts (14,551 ) (4,556 ) (2,718 ) (7,277 ) Total trade receivables, net 109,610 86,099 14,452 9,059 Past due Trade Receivables Not due 1 - 180 days > 180 days At December 31, 2015 Current accounts 119,089 84,712 16,181 18,196 Provision for bad debts (17,782 ) - (2,856 ) (14,926 ) Total trade receivables, net 101,307 84,712 13,325 3,270

Other financial assets (Tables)

Other financial assets (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of financial assets [abstract]
Schedule of other financial assets	At December 31, 2017 2016 2015 Non-current Time Deposits 2,500 - - Related parties (Note 27) - - 15,078 Other - 721 - 2,500 721 15,078 Current Debt service reserve account - 15,075 15,075 Related parties (Note 27) 3,621 7,769 8,270 Loans - - 1,986 Corporate Bonds 12,593 - - Time Deposits 23,500 7,349 12,482 Other 82 3,743 2,499 39,796 33,936 40,312

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2017
Cash and cash equivalents [abstract]
Schedule of cash and cash equivalents	At December 31, 2017 2016 2015 Cash to be deposited 1,483 1,313 1,344 Cash at banks 189,283 146,726 170,675 Time deposits 29,003 63,244 11,782 Other cash equivalents 1,832 1,705 438 221,601 212,988 184,239
Schedule for components of cash and cash equivalents if different from statement of financial position	At December 31, 2017 2016 2015 Cash and cash equivalents 221,601 212,988 184,239 Restricted cash (*) - (30,872 ) (30,346 ) Bank overdraft - - (4 ) 221,601 182,116 153,889 (*) Restricted cash balances excluded from cash and cash equivalents relate to guarantees of AA2000 (see Note 21).

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2017
Borrowings [abstract]
Schedule of borrowings	At December 31, 2017 2016 2015 Non-current Bank and financial borrowings (**) 453,428 551,431 487,021 Notes (*) 658,109 411,200 470,295 Other 2,118 3,041 3,000 1,113,655 965,672 960,316 Current Bank and financial borrowings (**) 311,902 52,671 53,129 Notes (*) 24,306 64,439 70,471 Loans with related parties (Note 27) 34,651 22,220 618 Bank overdrafts - - 4 Others 1,931 2,239 3,028 372,790 141,569 127,250 Total Borrowings 1,486,445 1,107,241 1,087,566
Schedule of changes in borrowings	2017 2016 2015 Balances at the beginning of the year 1,107,241 1,087,566 765,184 Acquisitions of subsidiary (Note 26) - - 332,976 Loans obtained 596,030 52,099 286,839 Loans paid (250,276 ) (142,693 ) (231,597 ) Interest paid (106,953 ) (48,564 ) (38,334 ) Disposals of subsidiaries - - (47,281 ) Accrued interest for the year 119,964 118,219 68,673 Translation differences 20,439 40,614 (48,894 ) Balances at the end of the year 1,486,445 1,107,241 1,087,566
Schedule of maturity of borrowings	1 year or less 1 to 2 years 2 to 5 years Over 5 years Total At December 31, 2017 ( 1) 422,746 230,464 523,855 803,436 1,980,501 At December 31, 2016 ( 1) 132,756 187,150 418,061 762,595 1,500,562 At December 31, 2015 ( 1) 134,428 153,303 227,368 867,312 1,382,411 ( 1) The amounts disclosed in the table are undiscounted cash flows of principal and estimated interest. Variable interest rate cash flows have been estimated using variable interest rates applicable at the end of the reporting period.
Schedule of undiscounted cash flows of principal and estimated interest	At December 31, 2017 2016 2015 Fair value of long-term borrowings ( 2) 1,498,385 1,128,407 1,113,117 1,498,385 1,128,407 1,113,117 ( 2) Valuation at quotation prices (not adjusted) in active markets for identical assets or liabilities Fair Value level 2 under IFRS 13 hierarchy. There are no financial instruments measured at fair value.
Schedule of significant bank and financial borrowings	(**) As of December 31, 2017 ignificant bank and financial borrowings include the following: Outstanding Company Lender Currency Maturity Interest Rate (In millions Capitalization 2 BNDES Brazilian Reales September 2032 Variable TJLP ( 1 98.6 Inframérica BNDES Brazilian Reales June 2032 Variable T.R.+ 3.14%+IPCA 2.2 Concessionaria do BNDES Brazilian Reales September 2032 Variable T.R.+ 3.14%+IPCA 5.8 Aeroporto Sao Goncalo BNDES Brazilian Reales September 2022 Fixed 2.5% 3.2 A do Amarante BNDES Brazilian Reales July 2032 Variable T.R.+ 3.14%+IPCA 1.5 BNDES Brazilian Reales July 2032 Variable T.R.+ 4.74%+IPCA 1.2 BNDES Brazilian Reales December 2028 Variable TJLP ( 1 218.4 A CAIXA Brazilian Reales December 2028 Variable TJLP ( 1 72.8 A CAIXA Brazilian Reales December 2017 Variable IPCA 5.7 A Inframérica CAIXA Brazilian Reales December 2023 Fixed 6% 4.8 A Concessionaria do Bradesco Brazilian Reales July 2022 Variable TJLP ( 1 0.3 D Aeroporto de Brasilia Bradesco Brazilian Reales July 2022 Variable Selic + 7.38% 0.1 D Santander Brazilian Reales June 2018 Variable CDI + 0.45% 90.9 A Citibank Brazilian Reales March 2018 Fixed 9% 14.6 C Pine Brazilian Reales January 2018 Variable CDI + 6.5% 9.7 C Terminal Aeroportuaria Banco Guayaquil SA USD 2019 Variable 6.86%-6.92% 4.1 D de Guayaquil S.A Banco Bolivariano CA USD 2019 Variable 6.92% 5.6 D Terminal de Cargas de Uruguay SA Santander Uruguay USD June 2020 Fixed 4.25% 1.1 D Toscana MPS Servicio capital Euro June 2022 Variable Euribor 6 month plus spread 9.3 B Aeroporti S.p.a. Banco de Innovación de Infraestructuras y Desarrollo Euro September 2027 Variable Euribor 6 month plus spread 34.4 D Credem Euro November 2018 Variable Euribor 3 month plus spread 6.0 D BPM Euro June 2022 Variable Euribor 3 month plus spread 0.5 D Armenia International Credit Suisse AG USD June 2022 Variable Libor+5.5% 57.1 B Airports CJSC Euro June 2022 Variable Euribor+5.5% 51.2 Corporación América Airports S.A. Goldman Sachs USD March 2019 Variable 7.63% 50.1 D Julius Bär USD December 2019 Fixed 2.40% 15.0 B Aeropuertos Argentina Banco Ciudad Argentine peso September 2018 Fixed 27.86% 1.0 D 2000 SA Aeropuerto de Bahía Blanca S.A. Banco de la Nación Argentina Argentine peso March 2019 Variable 4.75% 0.1 A Total 765.3 (**) As of December 31, 2016 significant bank and financial borrowings include the following: Outstanding Company Lender Currency Maturity Interest Rate (In millions Capitalization 2 BNDES Brazilian Reales September 2032 Variable TJLP ( 1 98.2 Inframérica Concessionaria BNDES Brazilian Reales June 2032 Variable T.R.+ 3.14%+IPCA 2.4 do Aeroporto Sao Goncalo BNDES Brazilian Reales September 2032 Variable T.R.+ 3.14%+IPCA 5.3 A do Amarante BNDES Brazilian Reales September 2032 Fixed 2.5% 3.9 BNDES Brazilian Reales July 2032 Variable T.R.+ 4.74%+IPCA 1.2 BNDES Brazilian Reales July 2032 Variable T.R.+ 3.14%+IPCA 1.6 BNDES Brazilian Reales December 2028 Variable TJLP ( 1 220 A Inframérica Concessionaria CAIXA Brazilian Reales December 2028 Variable TJLP ( 1 76.8 A do Aeroporto de Brasilia CAIXA Brazilian Reales December 2017 Variable IPCA 7.1 A CAIXA Brazilian Reales December 2023 Fixed 6% 5.7 A ABC Brazilian Reales April 2017 Variable CDI + 4.5% 3.5 D Terminal Aeroportuaria de Banco Guayaquil SA USD 2019 Variable 7.5%-8% 6.1 D Guayaquil S.A Banco Bolivariano CA USD 2019 Variable 7.50% 8.4 D Terminal de Cargas de Uruguay SA Santander Uruguay USD June 2020 Fixed 4.25% 1.5 D Toscana MPS Servicio capital Euro June 2022 Variable Euribor 6 month plus spread 10.2 B Aeroporti S.p.a. Banco de Innovación de Infraestructuras y Desarrollo Euro September 2027 Variable Euribor 6 month plus spread 32.7 D Armenia International Airports CJSC Credit Suisse AG USD June 2022 Fixed 7.89% 116.3 B Aeropuertos Argentina Banco Ciudad Argentine peso September 2018 Fixed 27.86% 2.3 D 2000 SA Banco Provincia Argentine peso June 2017 Fixed 26.42% 0.7 Aeropuerto de Bahía Blanca S.A. Banco de la Nación Argentina Argentine peso March 2019 Variable 4.75% 0.2 A Total 604.1 (**) As of December 31, 2015 bank and financial borrowings include the following: Outstanding Company Lender Currency Maturity Interest Rate (In millions Capitalization 2 BNDES Brazilian Reales September 2032 Variable TJLP ( 1 81.9 Inframérica Concessionaria BNDES Brazilian Reales June 2032 Variable T.R.+ 3.14%+IPCA 2.0 do Aeroporto Sao Goncalo BNDES Brazilian Reales September 2032 Variable T.R.+ 3.14%+IPCA 4.3 A do Amarante BNDES Brazilian Reales September 2022 Fixed 2.5% 3.8 BNDES Brazilian Reales July 2032 Variable T.R.+ 4.74%+IPCA 1.1 BNDES Brazilian Reales July 2032 Variable T.R.+ 3.14%+IPCA 1.4 BNDES Brazilian Reales December 2028 Variable TJLP ( 1 163.6 A CAIXA Brazilian Reales December 2028 Variable TJLP ( 1 56.9 A Inframérica Concessionaria CAIXA Brazilian Reales December 2028 Fixed 6% 1.7 A do Aeroporto de Brasilia CAIXA Brazilian Reales December 2017 Variable IPCA 4.9 A CAIXA Brazilian Reales December 2023 Fixed 6% 3.7 A Citibank Brazilian Reales September 2016 Fixed 17.10% - D Fator Brazilian Reales December 2016 Variable CDI + 3% 7.6 C Terminal Aeroportuaria de Banco Bolivariano C.A. USD 2016-2019 Variable 7.59%-8.90% 13.3 D Guayaquil S.A Banco Guayaquil S.A. USD 2016-2019 Variable 7.71% -8.88% 5.5 D Armenia International Airports CJSC Credit Suisse AG USD June 2022 Fixed 7.86% 131.9 B Toscana MPS Servicio capital Euro June 2022 Variable Euribor 6 month plus spread 10.7 B Aeroporti S.p.a. Banco de Innovación de Infraestructuras y Desarrollo Euro September 2027 Variable Euribor 6 month plus spread 38.3 D Aeropuertos Argentina 2000 SA Banco de la Provincia de Buenos Aires Argentine peso June 2017 Fixed 26.42% 7.36 D Aeropuerto de Bahía Blanca S.A. Banco de la Nación Argentina Argentine peso March 2019 Variable 4.75% 0.24 A Total 540.2 ( 1 IPCA: corresponds to the Brazilian consumer Price index) ( 2 B – Secured/unguaranteed C – Unsecured/guaranteed D - Unsecured/unguaranteed

Other liabilities (Tables)

Other liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Schedule of other liabilities	At December 31, 2017 2016 2015 Non-current Concession fee payable (*) 916,203 970,762 772,088 Advances from customers 31,909 27,922 17,680 Provisions for legal claims (****) 5,798 - - Provision for maintenance costs (**) 22,207 20,113 20,423 Other taxes payable 8,531 10,242 3,142 Employee benefit obligation (***) 9,068 8,498 8,139 Salary payable 916 772 1,006 Other liabilities with related parties (Note 27) 1,816 600 2,567 Other payables 10,344 10,539 22,256 1,006,792 1,049,448 847,301 Current Concession fee payable (*) 54,840 202,584 99,051 Other taxes payable 32,840 28,729 23,555 Salary payable 41,753 39,084 33,568 Other liabilities with related parties (Note 27) 33,132 31,369 27,197 Advances from customers 6,124 13,941 15,048 Provision for maintenance cost (**) 9,496 6,713 4,506 Expenses provisions 4,569 6,222 1,973 Provisions for legal claims (****) 3,127 5,878 4,730 Other payables 23,605 12,787 16,944 209,486 347,307 226,572 (*)The most significant amount include in concession fee payable are generated by the concession agreement between The Brazilian National Civil Aviation Agency – ANAC and Inframerica Concessionária do Aeroporto de Brasilia S.A. and Inframerica Concessionária do Aeroportode São Gonçalo do Amarante S.A. (**) Changes in the year of the Provision for maintenance costs is as follows: 2017 2016 2015 Balances at the beginning of the year 26,826 24,929 51,188 Accrual of the year 2,822 4,679 5,391 Use of the provision (1,507 ) (1,906 ) (2,580 ) Disposals of subsidiaries - - (25,152 ) Translation differences 3,562 (876 ) (3,918 ) Balances at the end of the year 31,703 26,826 24,929 (***)TAGSA and Toscana have post-employment benefits (****) 2017 2016 2015 Balances at the beginning of the year 5,878 4,730 935 Accrual of the year 3,661 2,772 1,157 Use of the provision (810 ) (1,089 ) (974 ) Acquisition of subsidiary (Note 26) - - 4,117 Translation differences 196 (535 ) (505 ) Balances at the end of the year 8,925 5,878 4,730
Schedule of maturity of the other liabilities	1 year or less 1 - 2 years 2 - 5 years Over 5 years Total At December 31, 2017 188,192 94,590 306,318 2,520,425 3,109,525 At December 31, 2016 378,130 90,290 293,170 2,700,430 3,462,020 At December 31, 2015 237,620 72,130 233,630 2,307,160 2,850,540
Schedule of changes in the year of the concession fee payable	2017 2016 2015 Values at the beginning of the year 1,173,346 871,139 38,739 Acquisition of subsidiaries (Note 26) - - 836,258 Financial result 98,122 107,408 2,039 Concession fees 162,117 146,971 133,846 Payments (325,454 ) (136,092 ) (136,809 ) Payments in advance (40,126 ) - - Others (84,075 ) 9,132 - Translation differences (12,887 ) 174,788 (2,934 ) At the end of the year 971,043 1,173,346 871,139
Schedule of changes in the year of the Provision for maintenance costs	2017 2016 2015 Balances at the beginning of the year 26,826 24,929 51,188 Accrual of the year 2,822 4,679 5,391 Use of the provision (1,507 ) (1,906 ) (2,580 ) Disposals of subsidiaries - - (25,152 ) Translation differences 3,562 (876 ) (3,918 ) Balances at the end of the year 31,703 26,826 24,929
Schedule of changes of the provision	2017 2016 2015 Balances at the beginning of the year 8,498 8,139 6,198 Actuarial gain/loss (in other comprehensive income) (323 ) 403 (475 ) Interest for services 165 239 164 Service Cost 250 177 21 Amounts paid in the year (487 ) (223 ) (487 ) Contributions - - 3,322 Translation differences 965 (237 ) (604 ) At the end of the year 9,068 8,498 8,139
Schedule of changes in the year of the provision for legal claims	2017 2016 2015 Balances at the beginning of the year 5,878 4,730 935 Accrual of the year 3,661 2,772 1,157 Use of the provision (810 ) (1,089 ) (974 ) Acquisition of subsidiary (Note 26) - - 4,117 Translation differences 196 (535 ) (505 ) Balances at the end of the year 8,925 5,878 4,730
Toscana Aeroporti S.p.a.
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Schedule of sensibility in relation with the provision	Assumption Annual discount rate Annual rate of inflation Annual turnover rate Variation rates 0.5 % (0.5 )% 0.25 % (0.25 )% 2.5 % (2.5 )% Provision for salary payable 6,172 6,856 6,606 6,399 6,395 6,557
Terminal Aeroportuaria Guayaquil S.A. ("TAGSA")
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Schedule of sensibility in relation with the provision	Assumption Annual discount rate Annual employee future Annual turnover rate Variation rates 1 % (1 )% 1 % (1 )% 5 % (5 )% Provision for salary payable 1,068 1,406 1,410 1,062 1,204 1,246

Trade payables (Tables)

Trade payables (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Trade Payable [Abstract]
Schedule of fair value of trade payables	At December 31, 2017 2016 2015 Non-current Trade payables with related parties (Note 27) - - 767 Trade payable with suppliers 3,302 1,663 1,329 3,302 1,663 2,096 Current Trade payables with suppliers 122,145 104,914 116,711 Trade payables with related parties (Note 27) 5,667 8,625 4,445 127,812 113,539 121,156

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Equity [Abstract]
Schedule of free distributable reserves	2017 2016 2015 Conversion (Note 1) (1,499,980 ) - - Cash contributions 6,600 20,494 8,303 Refund of cash contributions (28,893 ) - - Contributions in shares (*) - 1,506,867 - Contributions by assignment (**) - 49,960 320,798 (1,522,273 ) 1,577,321 329,101 (*) This corresponds to the fair value of the contribution of the shares of AIA, measured in accordance with Luxembourg laws and regulations. (**) This corresponds to the contribution of accounts receivable from related parties made by the Company’s shareholder.
Schedule of movements of other reserves	2017 2016 2015 At the beginning of the year (1,344,022 ) 248,677 1,178,534 Distribution in cash from AIA - (36,076 ) (74,058 ) Refund of contributions (*) - - (497,660 ) Non-cash distribution from AIA (**) - (*) ) (*) ) Cash contribution from AIA - 496 - Fair value adjustments (***) - (*) ) (59,719 ) Remeasurement of defined benefit obligations net for income tax 14 (292 ) 344 (1,344,008 ) (1,344,022 ) 248,677 (*) This corresponds to reimbursement of previous contributions from the former shareholder. (**) This corresponds to distributions of dividends in kind from AIA to its former shareholder. (***) This corresponds to the fair value of the contribution in shares (see footnote 1 in note 24.a) above), as the subsidiaries contributed were retroactively combined in the combined financial statements as of December 31, 2016.
Schedule of movements of the reserve of other comprehensive income	Currency Remeasurement Share of other Income Transfer from Total Balances at January 1, 2017 (212,080 ) 106 (40,043 ) (54 ) 63,402 (188,669 ) Continuing operations Other comprehensive income (loss) for the year (29,011 ) 17 432 (3 ) - (28,565 ) For the year ended December 31, 2017 (241,091 ) 123 (39,611 ) (57 ) 63,402 (217,234 ) Balances at January 1, 2016 (174,950 ) 489 (39,999 ) (145 ) 58,218 (156,387 ) Continuing operations Other comprehensive income (loss) for the year (37,414 ) (383 ) (44 ) 91 1,191 (36,559 ) Discontinued operations Other comprehensive income (loss) for the year 284 - - - 3,993 4,277 For the year ended December 31, 2016 (212,080 ) 106 (40,043 ) (54 ) 63,402 (188,669 ) Balances at January 1, 2015 - - - - - - Continuing operations Other comprehensive income (loss) for the year (112,455 ) 489 (39,999 ) (145 ) - (152,110 ) Discontinued operations Other comprehensive income (loss) for the year (62,495 ) - - - 58,218 (4,277 ) For the year ended December 31, 2015 (174,950 ) 489 (39,999 ) (145 ) 58,218 (156,387 ) (*) Income tax relating to OCI amounts to Remeasurement of defined benefit obligations. The movement was recognized as other comprehensive income of other reserves.
Schedule of movements of the non- controlling interest	2017 2016 2015 At the beginning of the year 354,174 371,342 351,809 Shareholder contributions - 9,018 - (Loss)/income for the year 3,400 (4,519 ) 9,801 Other comprehensive loss Currency translation 3,426 (12,340 ) (54,142 ) Remeasurement of defined benefit obligations 9 (20 ) (14 ) Reserve for income tax (5 ) 5 4 3,430 (12,355 ) (54,152 ) Changes in non-controlling interest Business combinations - - 131,954 Discontinued operations - 311 (66,656 ) Changes in the participations 197 - (1,414 ) Dividends approved (25,842 ) (9,623 ) - (25,645 ) (9,312 ) 63,884 Non-controlling interest at the end of the year 335,359 354,174 371,342

Contingencies, commitments an62

Contingencies, commitments and restrictions on the distribution of profits (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure For Contingencies Commitments And Restrictions On Distribution Of Profits [Abstract]
Schedule of commitments	Country Concession Number of Concession Current Extension Details Argentina AA2000 35 1 1998 2028 10 years NQN 1 2001 2021 5 years BBL 1 2008 2033 10 years Italy TA (SAT) 1 2006 (2014) 2046 TA (ADF) 1 2003 (2014) 2043 Brazil ICASGA 1 2012 2040 5 years ICAB 1 2012 2037 5 years Uruguay Puerta del Sur 1 2003 2033 CAISA 1 1993 (2008) 2019 Ecuador TAGSA 1 2004 2024 ECOGAL 1 2011 2026 Armenia AIA 2 2002 2032 Option to renew every 5 years Peru AAP 5 2011 2036 Extendable to 2071 Total 52 1. Includes Termas de Rio Hondo Airport, which is operated by AA2000 but is pending government approval to be included in the AA2000 concession.
Schedule of performance bonds in the amounts and for the events	Event Amount of the Performance Bond (in R$) Amount of the Performance Bond (in USD) Natal Concession Agreement Phase I of the Natal Concession Agreement 65 million 19.7 million Phase II of the Natal Concession Agreement (from the formal commencement of Phase II until the end of the contract) 6.5 million 1.9 million Current amount of Phase II 11.9 million 3.6 million Investment Trigger of the Natal Concession Agreement 10% of the amount of planned investments Brasilia Concession Agreement During Phase I-B of the Brasilia Concession Agreement 266.7 million 80.6 million After completion of Phase I-B of the Natal Concession Agreement or at the termination of the contract 133.3 million 40.3 million Current amount of Phase II 188.5 million 56.9 million Investment Trigger of the Brasilia Concession Agreement 10% of the amount of planned investments Upon termination of the Brasilia Concession Agreement, for a period of 24 months after the termination of the agreement. 19.1 million 5.8 million
Schedule of equity Luxembourg laws and regulations	At December At December At December Share capital 1,500,000 20 20 Legal reserve 2 2 - Free distributable reserves 385,055 1,907,328 330,007 Retained earnings 31,206 27,723 56,388 Total equity in accordance with Luxembourg law 1,916,263 1,935,073 386,415

Business combinations, other 63

Business combinations, other acquisitions and investments (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about business combination [abstract]
Schedule of assets and liabilities of the business combination	ASSETS Non-current assets Intangible assets, net 1,340,634 Property, plant and equipment, net 1,752 Deferred tax assets 43,265 Other receivables 26,242 1,411,893 Current assets Other financial assets 17,085 Other receivables 13,320 Trade receivables 13,851 Cash and cash equivalents 15,518 59,774 Total assets 1,471,667 Net identifiable assets acquired 56,906 Non-controlling interest 132,202 LIABILITIES Non-current liabilities Borrowings 316,451 Other liabilities 842,526 1,158,977 Current liabilities Borrowings 16,525 Other liabilities 79,755 Trade payables 27,302 123,582 Total liabilities 1,282,559 Total equity and liabilities 1,471,667

Related party balances and tr64

Related party balances and transactions (Tables)	12 Months Ended
	Dec. 31, 2017
Related party transactions [abstract]
Schedule of related parties balances	At December 31, 2017 2016 2015 Year-end balances (a) Arising from sales / purchases of goods / other Trade Receivables with Associates - 229 - Trade Receivables with other related parties 1,130 1,255 5,423 Other Receivables with Associates 5,555 - 3,827 Other Receivables with other related parties 9,775 9,025 14,060 Other Financial Assets with Associates - 7,769 11,530 Other Financial Assets with other related parties 3,621 - 11,818 Trade Payables to other related parties (5,667 ) (8,625 ) (5,212 ) 14,414 9,653 41,446 (b) Financial debt Borrowings owed to other related parties (*) (34,651 ) (22,220 ) (618 ) (34,651 ) (22,220 ) (618 ) (c) Other liabilities Other liabilities - other related parties (34,948 ) (31,969 ) (29,764 ) (34,948 ) (31,969 ) (29,764 ) (*) Loans with related parties are secured by cash collateral by a company controlled by the Group of the Shareholder and were paid on February 8, 2018, see Note 31 “Indebtedness”.
Schedule of transactions between related parties	For the year ended 2017 2016 2015 Transactions Cash contribution and contributions in kind 6,600 1,577,321 329,101 Refund of shareholder contributions (28,893 ) - - Commercial revenue 6,790 4,067 5,967 Fees 886 473 (1,818 ) Interest accruals (3,159 ) (824 ) 2,468 Acquisition of goods and services (13,950 ) (10,270 ) (8,171 ) Others (900 ) 200 -

Cash flow disclosures (Tables)

Cash flow disclosures (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Cash Flow Statement [Abstract]
Schedule of changes In working cpital	At December 31, Changes in working capital 2017 2016 2015 Other receivables and credits (78,303 ) (97,038 ) (64,221 ) Inventories (909 ) 987 4,385 Other liabilities (171,741 ) (57,779 ) (111,250 ) (250,953 ) (153,830 ) (171,086 )
Schedule of significant non-cash transactions	For the year ended For the year For the year Intangible assets acquisition with an increase in Borrowings/Other liabilities (1,591 ) (3,260 ) - Dividends not paid (2,007 ) - - Property, plant and equipment acquisitions with an increase in Other liabilities (9 ) - - Borrowings cost capitalization (9,301 ) - - Contribution in kind in associates (17,950 ) - - Decrease in Intangible with an decrease in Other liabilities (Note 22) (84,075 ) - - Assignment of credits (4,744 ) - - Payment of Commitments to the grantor with a decrease in Other receivables and credits 64,284 - - Contributions in kind(*) - 1,556,827 320,798 Dividends distribution(*) - (49,960 ) (298,764 ) Refund of contributions(*) - - (497,660 ) Loans repayment – assignment of credits(***) - - (74,477 ) Spin-off of assets and liabilities(****) - - (62,539 ) Disposals of subsidiaries/associates(**) - - 322,960 (*) See note 24. (**) This includes other receivables from disposals of discontinued operations (see note 28) and other receivables from disposals of associates which was contributed in the year 2016 in the free distributable reserve of the Company (see note 24). (***) This corresponds to a settlement of a loan by assignment of credits to the borrowers. (****) This corresponds to assets and liabilities transferred outside the Group through spin-off of equity.
Schedule of reconciliation of debt	Bank and financial Notes Loans with Other Total Values at the beginning of the year 604,102 475,639 22,220 5,280 1,107,241 Cash flows 99,725 129,491 10,525 (2,531 ) 237,210 Foreign exchange adjustments 6,117 14,686 (82 ) (282 ) 20,439 Other non-cash movements 55,386 62,599 1,988 1,582 121,555 Balances as of December 31, 2017 765,330 682,415 34,651 4,049 1,486,445

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2017
Discontinued Operations [Abstract]
Schedule of information of Statement of Income	For the year ended For the year ended For the year ended Revenues - 5 261,686 Cost of services - (92 ) (203,230 ) Gross profit - (87 ) 58,456 Selling, general and administrative expenses - (796 ) (7,314 ) (Loss)/ income on disposal of discontinued operations - (8,916 ) 92,167 Other operating expense - (228 ) (5,591 ) Operating (loss)/ income - (10,027 ) 137,718 Financial result, net - 548 (19,809 ) (Loss)/ income before equity in earnings of associates and income tax - (9,479 ) 117,909 Share of income or loss in associates - 62 (10,806 ) (Loss)/ income before income tax - (9,417 ) 107,103 Income tax - (61 ) 1,884 (Loss)/ income from discontinued operations - (9,478 ) 108,987 Currency translation adjustment - 4,277 (4,277 ) Total comprehensive (loss)/ income for the year - (5,201 ) 104,710
Schedule of cash flow information	At December 31, At December 31, At December 31, (Decrease)/ Increase in cash - (7,655 ) 15,227 Used in operating activities - (8,155 ) (41,969 ) Provided by/(used in) investing activities - 500 (139,531 ) Provided by financing activities - - 196,727
Schedule of financial information relating to the discontinued operations	2017 2016 2015 Non-current assets - 13,721 460,499 Current assets - 38,997 228,663 Total assets - 52,718 689,162 Non-current liabilities - 6,552 279,662 Current liabilities - 30,551 157,315 Total liabilities - 37,103 436,977 Total attributable to owners of the parent - 15,304 185,529 Non-controlling interests - 311 66,656 Total equity and liabilities - 52,718 689,162
Schedule of aggregate effects of disposals of subsidiaries	2017 2016 2015 Net identifiable assets disposed - 15,304 156,716 Spin-off of net assets - - 28,813 Transfer from shareholders equity – currency translation differences - 3,993 58,150 (Loss)/Income from discontinued operations - (8,916 ) 92,167 Other receivables from disposals - - 273,000 Net cash inflow on disposal of discontinued operations - 10,381 34,033 Less: Cash and cash equivalents in subsidiaries disposed - (8,593 ) (44,030 ) Net cash provided by/(used in) investing activities - 500 (139,531 ) Net cash used in discontinued investing activities - (8,093 ) (183,561 )

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2017
Basic earnings per share [abstract]
Schedule of earnings per share	2017 2016 2015 Income/ (loss) attributable to equity holders of the Group 63,491 43,236 (11,039 ) Weighted average number of shares (thousands) 148,118 148,118 148,118 Basic income/(loss) per share of continuing operations 0.43 0.29 (0.07 ) 2017 2016 2015 (Loss)/ income of discontinued operations attributable to equity holders of the Group - (9,477 ) 116,529 Weighted average number of shares (thousands) 148,118 148,118 148,118 Basic (loss)/ income per share of discontinued operations - (0.06 ) 0.79 2017 2016 2015 Income attributable to equity holders of the Group 63,491 33,759 105,490 Weighted average number of shares (thousands) 148,118 148,118 148,118 Basic income per share of continuing and discontinued operations 0.43 0.23 0.71

General information and corpo68

General information and corporate reorganization (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 22, 2016	Dec. 31, 2017	Dec. 31, 2007	Dec. 31, 2016	Dec. 31, 2015
Corporate Reorganization [Line Items]
Fai value of contribution in shares	$ 1,506,867
Conversion (Note 1)			$ 1,500,000,000
Nominal value of issued capital		$ 1,500,000		$ 20	$ 20
Nominal value of shares authorised		$ 1		$ 1	$ 1
ACI Airports International S.a. r.l.
Corporate Reorganization [Line Items]
Value of eliminated shares		$ 20
Free distributable reserves		$ 1,499,900

Basis of presentation and acc69

Basis of presentation and accounting policies (Details)		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016		Dec. 31, 2015
Abafor S.A
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%		100.00%
ACI AIA S. a r.l
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1],[2]	0.00%	100.00%		100.00%
ACI Airport Sudamerica S.A.U.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%		100.00%
ACI Airports Italia S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%		100.00%
America International Airports LLC
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%	[2]	100.00%	[2]
Cargo & Logistics S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	98.63%	98.63%		98.63%
CASA Aeroportuaria S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	99.98%	99.98%		99.98%
Cedicor S.A
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%		100.00%
Cerealsur S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%		100.00%
Corporacion Aeroportuaria S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%		100.00%
Corporacion America Italia S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%		100.00%
Corporacion America S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	95.37%	95.37%		95.37%
Corporacion America Sudamericana S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		94.68%	94.68%		94.68%
DICASA Spain S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%		100.00%
GOFI Investments S.L
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%		100.00%
Inframerica Participacoes S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	99.96%	99.96%		99.96%
Yokelet S.L.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%		90.00%
Aerocombustibles Argentinos S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		92.98%	92.98%		92.98%
Aeropuerto de Bahia Blanca S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		81.06%	81.06%		81.06%
Aeropuertos Argentina 2000 S.A.("AA2000")
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[3]	81.29%	81.29%		81.29%
Aeropuertos del Neuquen S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		74.10%	74.10%		74.10%
Armenia International Airports CJSC
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%		100.00%
CAI S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%		100.00%
Enarsa Aeropuertos S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		76.29%	76.29%		76.29%
Inframerica Concessionaria do Aeroporto de Brasilia S.A. ("ICAB")
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		50.98%	50.98%		50.98%
Inframerica Concessionaria do Aeroporto de Sao Goncalo do Amarante S.A. ("ICASGA")
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		99.97%	99.96%		99.95%
Paoletti America S.A
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[4]	40.65%	40.65%		40.65%
Puerta del Sur S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%		100.00%
Servicios y Tecnologia Aeroportuaria S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		80.73%	80.73%		80.73%
TCU S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%		100.00%
Terminal Aeroportuaria Guayaquil S.A. ("TAGSA")
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	[5]	49.99%	49.99%		49.99%
Texelrio S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		56.91%	56.91%		56.91%
Toscana Aeroporti S.p.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		51.13%	51.13%		51.13%
Villalonga Furlong S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		78.91%	78.91%		78.91%
[1]	These companies do not have relevant net assets other than the share of ownership in the operating companies included in the table below.
[2]	This company was dissolved on June 30, 2017.
[3]	Includes a 9.35% direct interest of Cedicor S.A. in AA2000, acquired by Cedicor S.A. in 2011. This participation is subject to the authorization by the ORSNA pursuant to section 7.2 of the Argentine Concession Agreement. As of the date of issuance of these Consolidated Financial Statements, the ORSNA has not issued any resolution approving or rejecting the aforementioned transaction. While this approval is pending, all economic and political rights pertaining to the shares, including all distributed dividends, have been assigned to Cedicor S.A.
[4]	The group has control over this company based on having majority representation in the board, power to direct the process of setting of financial and operating policies and execute the operational management of such Company.
[5]	The group has control over this company based on having power to direct the process of setting of financial and operating policies and execute the operational management of such Company.

Basis of presentation and acc70

Basis of presentation and accounting policies (Details 1) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of subsidiaries [line items]
Non-current assets	$ 3,221,736	$ 3,120,151	$ 2,876,905
Current assets	579,478	507,125	394,722
Total assets	3,801,214	3,627,276	3,271,627
Non-current liabilities	2,272,050	2,161,176	1,955,490
Current liabilities	732,022	662,776	482,036
Total liabilities	3,004,072	2,823,952	2,437,526
Equity	797,142	803,324	834,101	$ 1,466,565
Revenue (Notes 5)	1,575,153	1,366,336	1,187,090
Gross profit	545,170	507,262	427,935
Operating income	369,149	331,813	273,622
Financial Results	(239,492)	(235,430)	(153,032)
Share of income in associates	(15,841)	(1,306)	(69,317)
Income tax expense	46,925	56,359	44,969
Net income	66,891	29,240	115,291
Other comprehensive (income) / loss for the year	(25,135)	(44,637)	(210,539)
Total comprehensive income/(loss) for the year	41,756	(15,397)	(95,248)
Increase/(decrease) in cash
Provided by operating activities	(49,422)	172,772	43,593
Used in investing activities	(45,162)	35,844	(86,379)
Used in financing activities	128,955	(159,379)	22,813
Toscana Aeroporti S.p.A.
Disclosure of subsidiaries [line items]
Non-current assets	236,893	199,316	203,251
Current assets	62,144	51,453	60,788
Total assets	299,037	250,769	264,039
Non-current liabilities	73,762	68,646	76,629
Current liabilities	89,057	63,806	67,080
Total liabilities	162,819	132,452	143,709
Equity	136,218	118,317	120,330
Revenue (Notes 5)	154,526	141,347	152,663
Gross profit	50,269	45,057	41,438
Operating income	19,469	17,854	14,212
Financial Results	(1,630)	(1,240)	(1,894)
Share of income in associates	39		1,842
Income tax expense	(5,893)	(5,624)	(4,654)
Net income	11,985	10,990	9,506
Other comprehensive (income) / loss for the year	16,469	(4,643)	(10,761)
Total comprehensive income/(loss) for the year	$ 28,454	$ 6,347	$ (1,255)
Dividends paid	$ (10,584)	$ (4,268)	$ (3,831)
Increase/(decrease) in cash
Provided by operating activities	$ 13,345	$ 16,514	$ 23,210
Used in investing activities	(19,315)	(10,170)	(7,319)
Used in financing activities	$ (9,981)	$ (10,979)	$ (9,634)

Basis of presentation and acc71

Basis of presentation and accounting policies (Details 2) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of subsidiaries [line items]
Non-current assets	$ 3,221,736	$ 3,120,151	$ 2,876,905
Current assets	579,478	507,125	394,722
Total assets	3,801,214	3,627,276	3,271,627
Non-current liabilities	2,272,050	2,161,176	1,955,490
Current liabilities	732,022	662,776	482,036
Total liabilities	3,004,072	2,823,952	2,437,526
Equity	797,142	803,324	834,101	$ 1,466,565
Revenue (Notes 5)	1,575,153	1,366,336	1,187,090
Gross profit	545,170	507,262	427,935
Operating income	369,149	331,813	273,622
Financial Results	(239,492)	(235,430)	(153,032)
Share of income in associates	(15,841)	(1,306)	(69,317)
Income tax expense	46,925	56,359	44,969
Net income	66,891	29,240	115,291
Other comprehensive income (loss) for the year	(25,135)	(44,637)	(210,539)
Total comprehensive income for the year	41,756	(15,397)	(95,248)
Increase/(decrease) in cash
Provided by operating activities	(49,422)	172,772	43,593
Provided by/ (used in) investing activities	(45,162)	35,844	(86,379)
Used in financing activities	128,955	(159,379)	22,813
Terminal Aeroportuaria Guayaquil S.A. ("TAGSA")
Disclosure of subsidiaries [line items]
Non-current assets	51,941	55,188	62,134
Current assets	42,760	45,053	40,520
Total assets	94,701	100,241	102,654
Non-current liabilities	6,571	11,566	8,114
Current liabilities	42,929	44,307	56,633
Total liabilities	49,500	55,873	64,747
Equity	45,201	44,368	37,907
Revenue (Notes 5)	85,310	85,301	79,045
Gross profit	35,063	36,220	32,287
Operating income	19,087	20,626	15,806
Financial Results	(479)	(1,395)	(2,377)
Share of income in associates	0	0	0
Income tax expense	(1,653)	(1,768)	(1,466)
Net income	16,955	17,463	11,963
Other comprehensive income (loss) for the year	0	0	0
Total comprehensive income for the year	$ 16,955	$ 17,463	$ 11,963
Dividends paid	$ (17,371)	$ (16,157)	$ (7,315)
Increase/(decrease) in cash
Provided by operating activities	$ 24,743	$ 26,951	$ 20,336
Provided by/ (used in) investing activities	(24,585)	8,995	(5,303)
Used in financing activities	$ (23,066)	$ (23,397)	$ (20,563)

Basis of presentation and acc72

Basis of presentation and accounting policies (Details 3) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of subsidiaries [line items]
Non-current assets	$ 3,221,736	$ 3,120,151	$ 2,876,905
Current assets	579,478	507,125	394,722
Total assets	3,801,214	3,627,276	3,271,627
Non-current liabilities	2,272,050	2,161,176	1,955,490
Current liabilities	732,022	662,776	482,036
Total liabilities	3,004,072	2,823,952	2,437,526
Equity	797,142	803,324	834,101	$ 1,466,565
Revenue (Notes 5)	1,575,153	1,366,336	1,187,090
Gross profit	545,170	507,262	427,935
Operating income	369,149	331,813	273,622
Financial Results	(239,492)	(235,430)	(153,032)
Share of income in associates	(15,841)	(1,306)	(69,317)
Income tax expense	46,925	56,359	44,969
Net loss	66,891	29,240	115,291
Other comprehensive (loss) / income for the year	(25,135)	(44,637)	(210,539)
Total comprehensive loss for the year	41,756	(15,397)	(95,248)
Increase/(decrease) in cash
Used in operating activities	(49,422)	172,772	43,593
Used in investing activities	(45,162)	35,844	(86,379)
Provided by financing activities	128,955	(159,379)	22,813
Inframerica Concessionaria do Aeroporto de Brasilia S.A. ("ICAB")
Disclosure of subsidiaries [line items]
Non-current assets	1,267,647	1,373,179	1,114,659
Current assets	48,747	126,418	54,346
Total assets	1,316,394	1,499,597	1,169,005
Non-current liabilities	1,060,174	1,206,457	954,791
Current liabilities	250,671	211,667	94,464
Total liabilities	1,310,845	1,418,124	1,049,255
Equity	5,549	81,473	$ 119,750
Revenue (Notes 5)	111,259	99,889
Gross profit	14,538	19,511
Operating income	(161)	7,143
Financial Results	(116,222)	(128,403)
Share of income in associates	0	0
Income tax expense	38,798	40,425
Net loss	(77,585)	(80,835)
Other comprehensive (loss) / income for the year	1,764	24,372
Total comprehensive loss for the year	$ (75,821)	$ (56,463)
Dividends paid	$ 0	$ 0
Increase/(decrease) in cash
Used in operating activities	$ (76,445)	$ (10,674)
Used in investing activities	(10,065)	(16,172)
Provided by financing activities	$ 87,216	$ 10,489

Basis of presentation and acc73

Basis of presentation and accounting policies (Details 4) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of subsidiaries [line items]
Non-current assets	$ 3,221,736	$ 3,120,151	$ 2,876,905
Current assets	579,478	507,125	394,722
Total assets	3,801,214	3,627,276	3,271,627
Non-current liabilities	2,272,050	2,161,176	1,955,490
Current liabilities	732,022	662,776	482,036
Total liabilities	3,004,072	2,823,952	2,437,526
Equity	797,142	803,324	834,101	$ 1,466,565
Revenue (Notes 5)	1,575,153	1,366,336	1,187,090
Gross profit	545,170	507,262	427,935
Operating income	369,149	331,813	273,622
Financial Results	(239,492)	(235,430)	(153,032)
Share of income in associates	(15,841)	(1,306)	(69,317)
Income tax expense	46,925	56,359	44,969
Net income	66,891	29,240	115,291
Other comprehensive loss for the year	(25,135)	(44,637)	(210,539)
Total comprehensive income (loss) for the year	41,756	(15,397)	(95,248)
Increase/(decrease) in cash
(Used in) /provided by operating activities	(49,422)	172,772	43,593
Used in investing activities	(45,162)	35,844	(86,379)
Provided by /(used in) financing activities	128,955	(159,379)	22,813
Aeropuertos Argentina 2000 S.A.("AA2000")
Disclosure of subsidiaries [line items]
Non-current assets	707,952	544,697	487,122
Current assets	199,222	146,034	94,881
Total assets	907,174	690,731	582,003
Non-current liabilities	411,561	159,411	212,192
Current liabilities	150,225	220,822	145,767
Total liabilities	561,786	380,233	357,959
Equity	345,388	310,498	224,044
Revenue (Notes 5)	994,782	837,380	780,870
Gross profit	360,822	339,344	283,732
Operating income	282,422	270,672	211,424
Financial Results	(52,788)	(53,036)	(135,847)
Share of income in associates	0	0	0
Income tax expense	(67,620)	(81,501)	(26,152)
Net income	162,014	136,135	49,425
Other comprehensive loss for the year	(50,945)	(49,680)	(113,471)
Total comprehensive income (loss) for the year	$ 111,069	$ 86,455	$ (64,046)
Dividends paid	$ (76,178)	$ 0	$ 0
Increase/(decrease) in cash
(Used in) /provided by operating activities	$ (53,509)	$ 114,704	$ 47,192
Used in investing activities	(185)	(1,028)	(652)
Provided by /(used in) financing activities	$ 129,370	$ (79,748)	$ (63,915)

Basis of presentation and acc74

Basis of presentation and accounting policies (Details 5)	12 Months Ended
	Dec. 31, 2017
Buildings and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life	25-30 years
Plant and production equipment
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life	3-10 years
Vehicles, furniture and fixtures, and other equipment
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life	4-10 years

Basis of presentation and acc75

Basis of presentation and accounting policies (Detail Textuals) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)Airport$ / shares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares
Disclosure of subsidiaries [line items]
Percentage of total trade receivables as increase in estimate of losses for uncollectable	2.60%
Recognized a translation loss | $	$ 25.6	$ 44.3	$ 170.9
Number of airports | Airport	52
Number of shares authorised | shares		20,000	20,000
Nominal value of shares authorised | $ / shares	$ 1	$ 1	$ 1
Value of shares authorised | $	$ 1,500
Percentage of entity's revenue assigned to Government	15.00%
Percentage of entity's revenue assigned to investments commitments	2.50%
Top of range
Disclosure of subsidiaries [line items]
Percentage of construction or upgrade costs plus a reasonable margin	3.00%
Bottom of range
Disclosure of subsidiaries [line items]
Percentage of construction or upgrade costs plus a reasonable margin	5.00%
Aeropuertos Argentina 2000 S.A.("AA2000")
Disclosure of subsidiaries [line items]
Percentage of direct interest of Cedicor S.A. in AA2000, acquired by Cedicor S.A. in 2011	9.35%
Number of airports | Airport	34

Financial Risk Management (Deta

Financial Risk Management (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
U.S. dollar / Argentine Peso
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net assets and liabilities	$ (267,045)	$ (131,284)	$ (154,384)
Real / U.S. dollar
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net assets and liabilities	90,697	0	0
Euro / Armenian dram
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net assets and liabilities	(50,939)	(47,473)	(51,952)
U.S. dollar / Armenian dram
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net assets and liabilities	(30,291)	(54,016)	(55,421)
Euro / U.S. dollar
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net assets and liabilities	1,535	283	3,162
Uruguayan peso / U.S. dollar
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net assets and liabilities	$ 11	$ (1,853)	$ (770)

Financial Risk Management (De77

Financial Risk Management (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of financial instruments by type of interest rate [line items]
Total Borrowings	$ 1,486,445	$ 1,107,241	$ 1,087,566	$ 765,184
Fixed rate
Disclosure of financial instruments by type of interest rate [line items]
Total Borrowings	738,320	630,541	696,066
Variable rate
Disclosure of financial instruments by type of interest rate [line items]
Total Borrowings	$ 748,125	$ 476,700	$ 391,500

Financial Risk Management (De78

Financial Risk Management (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Borrowings	$ 1,486,445	$ 1,107,241	$ 1,087,566	$ 765,184
Less: Cash and cash equivalents	(221,601)	(212,988)	(184,239)	(217,133)
Net borrowings	1,264,844	894,253	903,327
Equity	$ 797,142	$ 803,324	$ 834,101	$ 1,466,565
Debt ratio	159.00%	111.00%	108.00%

Financial Risk Management (De79

Financial Risk Management (Details 3) - USD ($)	Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	$ 683,553,000		$ 550,342,000	$ 463,059,000
Total liabilities as per the statement of financial position	2,685,007,000		2,542,142,000	2,228,532,000
Borrowings
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	1,486,445,000		1,107,241,000	1,087,566,000
Trade payables and other liabilities
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	1,198,562,000		1,434,901,000	1,140,966,000
Liabilities at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	0		0	0
Liabilities at fair value through profit and loss | Borrowings
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	0		0	0
Liabilities at fair value through profit and loss | Trade payables and other liabilities
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	0		0	0
Liabilities at amortized cost
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	2,685,007,000		2,542,142,000	2,228,532,000
Liabilities at amortized cost | Borrowings
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	1,486,445,000		1,107,241,000	1,087,566,000
Liabilities at amortized cost | Trade payables and other liabilities
Disclosure of detailed information about financial instruments [line items]
Total liabilities as per the statement of financial position	1,198,562,000		1,434,901,000	1,140,966,000
Trade receivables
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	126,078,000		109,610,000	101,358,000
Other receivables
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	293,578,000		193,087,000	122,072,000
Other financial assets
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	42,296,000	[1]	34,657,000	55,390,000
Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	221,601,000		212,988,000	184,239,000
Assets at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	16,214,000		0	0
Assets at fair value through profit and loss | Trade receivables
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	0		0	0
Assets at fair value through profit and loss | Other receivables
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	0		0	0
Assets at fair value through profit and loss | Other financial assets
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	16,214,000	[1]	0	0
Assets at fair value through profit and loss | Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	0		0	0
Assets at amortized cost
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	667,339,000		550,342,000	463,059,000
Assets at amortized cost | Trade receivables
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	126,078,000		109,610,000	101,358,000
Assets at amortized cost | Other receivables
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	293,578,000		193,087,000	122,072,000
Assets at amortized cost | Other financial assets
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	26,082,000	[1]	34,657,000	55,390,000
Assets at amortized cost | Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Total assets as per the statement of financial position	$ 221,601,000		$ 212,988,000	$ 184,239,000
[1]	Other financial assets measured at fair value are Level 1 hierarchy.

Financial Risk Management (De80

Financial Risk Management (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of nature and extent of risks arising from financial instruments [line items]
Sensitivity analysis impact of 10% & 1% change in exchange rate generated pre tax gain (loss)	$ 4,115,000	$ 3,846,000	$ 518,000
Percentage of cash and cash equivalents to total assets	5.81%	5.87%	5.63%
U.S. dollar / Argentine Peso
Disclosure of nature and extent of risks arising from financial instruments [line items]
Sensitivity analysis impact of 10% & 1% change in exchange rate generated pre tax gain (loss)	$ 2,670,500	$ 1,312,800	$ 1,543,800
Real / U.S. dollar
Disclosure of nature and extent of risks arising from financial instruments [line items]
Sensitivity analysis impact of 10% & 1% change in exchange rate generated pre tax gain (loss)	906,900
Euro / Armenian dram
Disclosure of nature and extent of risks arising from financial instruments [line items]
Sensitivity analysis impact of 10% & 1% change in exchange rate generated pre tax gain (loss)	509,400	474,700	519,500
U.S. dollar / Armenian dram
Disclosure of nature and extent of risks arising from financial instruments [line items]
Sensitivity analysis impact of 10% & 1% change in exchange rate generated pre tax gain (loss)	302,900	540,200	554,200
Euro / U.S. dollar
Disclosure of nature and extent of risks arising from financial instruments [line items]
Sensitivity analysis impact of 10% & 1% change in exchange rate generated pre tax gain (loss)	15,400	2,800	31,600
Uruguayan peso / U.S. dollar
Disclosure of nature and extent of risks arising from financial instruments [line items]
Sensitivity analysis impact of 10% & 1% change in exchange rate generated pre tax gain (loss)	$ 100	$ 18,500	$ 7,700

Segment information (Details)

Segment information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [line items]
Revenue	$ 1,575,153	$ 1,366,336	$ 1,187,090
Cost of services	(1,029,983)	(859,074)	(759,155)
Gross profit	545,170	507,262	427,935
Selling, general and administrative expenses	(194,201)	(170,852)	(167,219)
Reversal of previous impairment/(impairment loss)	3,065	(16,638)	0
Other operating income	19,953	16,944	15,573
Other operating expense	(4,838)	(4,903)	(2,667)
Operating income	369,149	331,813	273,622
Share of loss in associates	(15,841)	(1,306)	(69,317)
Amortization and depreciation	108,314	96,690	72,247
Adjusted Ebitda	461,622	427,197	276,552
Financial income	62,555	37,521	46,807
Financial loss	(302,047)	(272,951)	(199,839)
Amortization and depreciation	(108,314)	(96,690)	(72,247)
Income before income tax	113,816	95,077	51,273
Income tax expense	(46,925)	(56,359)	(44,969)
Net income	66,891	38,718	6,304
Net income from discontinued operations		(9,478)	108,987
Current assets	579,478	507,125	394,722
Non-current assets	3,221,736	3,120,151	2,876,905
Capital Expenditure	279,556	194,399	146,183
Current liabilities	732,022	662,776	482,036
Non-current liabilities	2,272,050	2,161,176	1,955,490
Operating segments | Argentina | Airports
Disclosure of operating segments [line items]
Revenue	1,000,303	840,852	783,850
Cost of services	(638,216)	(500,336)	(499,686)
Gross profit	362,087	340,516	284,164
Selling, general and administrative expenses	(96,737)	(84,887)	(87,730)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	18,942	16,944	15,573
Other operating expense	(1,271)	(1,331)	(629)
Operating income	283,021	271,242	211,378
Share of loss in associates	0	0	0
Amortization and depreciation	32,121	22,791	21,810
Adjusted Ebitda	315,142	294,033	233,188
Current assets	200,982	147,058	95,907
Non-current assets	709,689	546,011	488,901
Capital Expenditure	231,998	155,026	100,832
Current liabilities	151,794	221,726	147,084
Non-current liabilities	412,242	159,688	212,581
Operating segments | Argentina | Others
Disclosure of operating segments [line items]
Revenue	422	373	439
Cost of services	(144)	(133)	(166)
Gross profit	278	240	273
Selling, general and administrative expenses	(242)	(218)	(278)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	69	0	0
Other operating expense	(1)	58	71
Operating income	104	80	66
Share of loss in associates	0	0	0
Amortization and depreciation	0	0	0
Adjusted Ebitda	104	80	66
Current assets	425	371	339
Non-current assets	7	9	11
Capital Expenditure	41	13	8
Current liabilities	64	58	52
Non-current liabilities	0	0	0
Operating segments | Brazil | Airports
Disclosure of operating segments [line items]
Revenue	128,842	127,038	813
Cost of services	(116,164)	(110,001)	(937)
Gross profit	12,678	17,037	(124)
Selling, general and administrative expenses	(14,361)	(12,644)	(16)
Reversal of previous impairment/(impairment loss)	3,065	(16,638)	0
Other operating income	0	0	0
Other operating expense	(1,622)	(643)	42
Operating income	(240)	(12,888)	(98)
Share of loss in associates	0	0	(71,958)
Amortization and depreciation	17,038	16,736	218
Adjusted Ebitda	16,798	3,848	(71,838)
Current assets	66,631	134,817	59,706
Non-current assets	1,432,833	1,533,910	1,261,464
Capital Expenditure	13,589	16,692	0
Current liabilities	262,624	233,649	123,557
Non-current liabilities	1,271,776	1,402,430	1,107,836
Operating segments | Uruguay | Airports
Disclosure of operating segments [line items]
Revenue	100,553	89,187	83,862
Cost of services	(48,371)	(41,842)	(39,136)
Gross profit	52,182	47,345	44,726
Selling, general and administrative expenses	(11,758)	(8,292)	(10,317)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	74	0	0
Other operating expense	(623)	(220)	(132)
Operating income	39,875	38,833	34,277
Share of loss in associates	0	0	0
Amortization and depreciation	12,495	11,682	11,332
Adjusted Ebitda	52,370	50,515	45,609
Current assets	24,697	25,452	26,032
Non-current assets	159,880	166,048	172,746
Capital Expenditure	6,327	5,749	5,038
Current liabilities	23,536	17,104	15,137
Non-current liabilities	64,050	69,899	71,163
Operating segments | Uruguay | Others
Disclosure of operating segments [line items]
Revenue	15,774	14,343	15,333
Cost of services	(12,184)	(10,572)	(10,567)
Gross profit	3,590	3,771	4,766
Selling, general and administrative expenses	(1,323)	(1,010)	(1,004)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	341	0	0
Other operating expense	(371)	(84)	(63)
Operating income	2,237	2,677	3,699
Share of loss in associates	0	0	0
Amortization and depreciation	590	527	463
Adjusted Ebitda	2,827	3,204	4,162
Current assets	2,887	2,821	2,282
Non-current assets	5,121	5,042	3,780
Capital Expenditure	852	2,072	543
Current liabilities	3,755	2,820	2,324
Non-current liabilities	1,175	1,860	1,078
Operating segments | Armenia | Airports
Disclosure of operating segments [line items]
Revenue	94,464	73,234	74,701
Cost of services	(52,863)	(42,953)	(49,534)
Gross profit	41,601	30,281	25,167
Selling, general and administrative expenses	(11,263)	(11,303)	(10,266)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	149	0	0
Other operating expense	(827)	(2,267)	(1,005)
Operating income	29,660	16,711	13,896
Share of loss in associates	0	0	0
Amortization and depreciation	11,493	11,360	11,367
Adjusted Ebitda	41,153	28,071	25,263
Current assets	38,110	30,242	39,415
Non-current assets	173,087	176,520	185,913
Capital Expenditure	5,778	2,003	4,286
Current liabilities	22,741	18,225	26,291
Non-current liabilities	95,159	103,030	117,439
Operating segments | Ecuador | Airports
Disclosure of operating segments [line items]
Revenue	85,310	85,301	79,045
Cost of services	(50,247)	(49,081)	(46,759)
Gross profit	35,063	36,220	32,286
Selling, general and administrative expenses	(16,185)	(16,159)	(14,629)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	287	0	0
Other operating expense	(77)	565	(1,852)
Operating income	19,088	20,626	15,805
Share of loss in associates	0	0	0
Amortization and depreciation	7,376	7,344	7,306
Adjusted Ebitda	26,464	27,970	23,111
Current assets	42,760	45,053	40,520
Non-current assets	51,941	55,189	62,134
Capital Expenditure	934	426	2,122
Current liabilities	42,929	44,307	56,633
Non-current liabilities	6,571	11,566	8,114
Operating segments | Italy | Airports
Disclosure of operating segments [line items]
Revenue	154,526	141,347	152,663
Cost of services	(104,257)	(96,289)	(111,225)
Gross profit	50,269	45,058	41,438
Selling, general and administrative expenses	(30,800)	(27,203)	(27,226)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	0	0	0
Other operating expense	0	0	0
Operating income	19,469	17,855	14,212
Share of loss in associates	39	0	1,842
Amortization and depreciation	10,302	9,478	9,625
Adjusted Ebitda	29,810	27,333	25,679
Current assets	62,144	51,453	60,785
Non-current assets	236,893	199,317	203,250
Capital Expenditure	20,013	12,102	24,896
Current liabilities	89,057	63,806	67,079
Non-current liabilities	73,762	68,645	76,629
Operating segments | Peru | Airports
Disclosure of operating segments [line items]
Revenue	0	0	0
Cost of services	0	0	0
Gross profit	0	0	0
Selling, general and administrative expenses	0	0	0
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	0	0	0
Other operating expense	0	0	0
Operating income	0	0	0
Share of loss in associates	(15,283)	(397)	816
Amortization and depreciation	0	0	0
Adjusted Ebitda	(15,283)	(397)	816
Current assets	0	0	0
Non-current assets	11,790	8,504	9,248
Capital Expenditure	0	0	0
Current liabilities	0	0	0
Non-current liabilities	0	0	0
Intrasegment Adjustments
Disclosure of operating segments [line items]
Revenue	(10,191)	(8,697)	(6,291)
Cost of services	6,778	6,132	6,291
Gross profit	(3,413)	(2,565)	0
Selling, general and administrative expenses	3,413	2,599	0
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	0	0	0
Other operating expense	(9)	(34)	0
Operating income	(9)	0	0
Share of loss in associates	0	0	0
Amortization and depreciation	0	0	0
Adjusted Ebitda	(9)	0	0
Current assets	(74,280)	(55,816)	(112,052)
Non-current assets	(1,093)	(599)	(38,105)
Capital Expenditure	0	316	0
Current liabilities	(73,004)	(55,451)	(148,218)
Non-current liabilities	(2,369)	(966)	(1,942)
Unallocated
Disclosure of operating segments [line items]
Revenue	5,150	3,358	2,675
Cost of services	(14,315)	(13,999)	(7,436)
Gross profit	(9,165)	(10,641)	(4,761)
Selling, general and administrative expenses	(14,945)	(11,735)	(15,753)
Reversal of previous impairment/(impairment loss)	0	0	0
Other operating income	91	0	0
Other operating expense	(37)	(947)	901
Operating income	(24,056)	(23,323)	(19,613)
Share of loss in associates	(597)	(909)	(17)
Amortization and depreciation	16,899	16,772	10,126
Adjusted Ebitda	(7,754)	(7,460)	(9,504)
Current assets	215,122	125,674	181,788
Non-current assets	441,588	430,200	527,563
Capital Expenditure	24	0	8,458
Current liabilities	208,526	116,532	192,097
Non-current liabilities	$ 349,684	$ 345,024	$ 362,592

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue [abstract]
Aeronautical revenue	$ 767,023	$ 673,509	$ 543,228
Non aeronautical revenue
Commercial revenue	555,504	522,199	459,717
Construction service revenue	250,112	165,065	178,420
Other revenue	2,514	5,563	5,725
Total revenue	$ 1,575,153	$ 1,366,336	$ 1,187,090

Cost of services (Details)

Cost of services (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Cost Of Sales [Abstract]
Salaries and social security contributions	[1]	$ (210,799)	$ (184,623)	$ (165,774)
Concession fees	[2]	(191,933)	(176,492)	(133,846)
Construction service cost		(248,602)	(163,747)	(176,972)
Maintenance expenses		(145,787)	(126,924)	(125,825)
Amortization and depreciation		(100,674)	(89,540)	(64,772)
Services and fees		(54,479)	(49,045)	(42,472)
Cost of fuel		(27,818)	(19,458)	(21,339)
Taxes	[3]	(19,511)	(17,543)	(2,711)
Office expenses		(17,256)	(15,885)	(9,756)
Provision for maintenance costs		(2,314)	(4,679)	(5,391)
Others		(10,810)	(11,138)	(10,297)
Total		$ (1,029,983)	$ (859,074)	$ (759,155)
[1]	At the year-end, the number of employees was 6.1 thousand in 2017 and 5.9 thousand in 2016 and 2015.
[2]	Includes depreciation for Brazil concession assets of US$ 29,816 as of December 31, 2017 (US$ 26,192 as of December 31, 2016).
[3]	Mainly includes tax from turnover and municipal taxes.

Cost of services (Detail Textua

Cost of services (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)Employee	Dec. 31, 2016USD ($)Employee
Disclosure Of Cost Of Sales [Abstract]
Number of employees | Employee	6,100	5,900
Depreciation for brazil concession assets | $	$ 29,816	$ 26,192

Selling, general and administ85

Selling, general and administrative expenses (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Selling, general and administrative expense [abstract]
Taxes	[1]	$ (54,883)	$ (50,908)	$ (43,188)
Salaries and social security contributions		(35,812)	(34,832)	(31,508)
Services and fees		(58,511)	(48,123)	(52,481)
Office expenses		(11,620)	(9,966)	(10,353)
Amortization and depreciation		(7,640)	(7,150)	(7,475)
Maintenance expenses		(4,215)	(5,113)	(5,901)
Advertising		(3,044)	(2,229)	(3,249)
Insurance		(2,289)	(1,397)	(517)
Charter service		(830)	(1,162)	(2,336)
Bad debts recovery		268	2,248	0
Bad debts		(7,672)	(1,976)	(2,574)
Other		(7,953)	(10,244)	(7,637)
Selling, general and administrative expenses (Notes 7)		$ (194,201)	$ (170,852)	$ (167,219)
[1]	Mainly included tax from taxes over banks transactions and tax on revenue.

Other operating income (Details

Other operating income (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Other Operating Income [Abstract]
Government grant (Note 25)	[1]	$ 18,942	$ 16,944	$ 15,573
Other		1,011	0	0
Total		$ 19,953	$ 16,944	$ 15,573
[1]	Corresponds to government grant for the development of airport infrastructure in Group A (operated by AA2000) of the National Airport System. There are no unfulfilled conditions or other contingencies attaching to these grants. The group did not benefit directly from any other forms of government assistance.

Financial results, net (Details

Financial results, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Finance Income Expense [Abstract]
Interest income	$ 39,229	$ 19,009	$ 12,366
Foreign exchange income	23,112	18,512	34,441
Other	214	0	0
Financial income	62,555	37,521	46,807
Interest expense	(115,223)	(118,219)	(69,228)
Foreign exchange loss	(82,333)	(44,895)	(125,240)
Changes in liability for Brazil concessions (Note 22)	(98,122)	(107,408)	(2,039)
Other	(6,369)	(2,429)	(3,332)
Financial loss	302,047	272,951	199,839
Net financial results	$ (239,492)	$ (235,430)	$ (153,032)

Share of loss in associates (De

Share of loss in associates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share Of Loss In Associates [Abstract]
Loss in associates (Note 14)	$ (15,841)	$ (1,306)	$ (69,317)

Income tax expense (Details)

Income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Abstract]
Current income tax	$ (88,768)	$ (97,122)	$ (49,894)
Deferred income tax	41,843	40,763	4,925
Income tax expense (Notes 11)	$ (46,925)	$ (56,359)	$ (44,969)

Income tax expense (Details 1)

Income tax expense (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Abstract]
Income before income tax		$ 113,816	$ 95,077	$ 51,273
Tax expense calculated for each company		(41,342)	(35,778)	(8,637)
Adjustments
Non-taxable income		12,682	20,515	11,478
Expenses related to non-taxable income		(24,762)	(31,281)	(38,919)
Non-deductible expenses		(8,799)	(2,867)	(6,709)
Tax incentive		1,665	448	0
Tax relieving		0	(6,307)	0
Income tax rate change	[1]	12,533	0	0
Other		1,098	(1,089)	(2,182)
Income tax expense		$ 46,925	$ 56,359	$ 44,969
[1]	On December 29, 2017, the National Executive Office of Argentina issued Law 27430 - Income Tax. This law has introduced several changes in the treatment of income tax whose key components are the following: Income Tax Rate: The Income Tax rate for Argentine companies will be gradually reduced from 35% to 30% for fiscal years starting from January 1, 2018 until December 31, 2019 and to 25% for fiscal years beginning on or after January 1, 2020, inclusive.

Income tax expense (Detail Text

Income tax expense (Detail Textuals)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Abstract]
Effective income tax rate	41.00%	61.00%	88.00%
Income tax rate	35.00%
Future income tax rate for the year 2018	30
Future income tax rate for the year 2019	30
Future income tax rate for the year 2020	25

Intangible assets, net (Details

Intangible assets, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about intangible assets [line items]
Balance	$ 2,825,187	$ 2,610,703
Balance	2,818,354	2,825,187	$ 2,610,703
Cost
Disclosure of detailed information about intangible assets [line items]
Balance	3,405,739	2,976,321	1,809,888
Acquisitions	268,044	184,008	137,998
Acquisitions of subsidiaries (Note 26)			1,392,289
Reversal of previous impairment loss	3,065
Disposals	(2,765)	(5,640)	(3,413)
Disposals of subsidiaries			(44,357)
Impairment loss		(16,638)
Other (Note 22)	(84,075)	9,132
Translation differences	(206,086)	258,556	(316,084)
Balance	3,383,922	3,405,739	2,976,321
Depreciation
Disclosure of detailed information about intangible assets [line items]
Balance	580,552	365,618	355,537
Amortization of the year	130,247	115,337	64,439
Translation differences	(145,231)	99,597	(54,358)
Balance	565,568	580,552	365,618
Concession Assets
Disclosure of detailed information about intangible assets [line items]
Balance	2,765,474	2,545,025
Balance	2,758,239	2,765,474	2,545,025
Concession Assets | Cost
Disclosure of detailed information about intangible assets [line items]
Balance	3,334,564	2,899,618	1,742,739
Acquisitions	266,380	183,160	137,612
Acquisitions of subsidiaries (Note 26)			1,338,951
Reversal of previous impairment loss	3,065
Disposals	(2,803)	(23)	(3,413)
Disposals of subsidiaries			0
Impairment loss		(16,638)
Other (Note 22)	(84,075)	9,132
Translation differences	(205,125)	259,315	(316,271)
Balance	3,312,006	3,334,564	2,899,618
Concession Assets | Depreciation
Disclosure of detailed information about intangible assets [line items]
Balance	569,090	354,593	343,823
Amortization of the year	129,667	114,496	63,761
Translation differences	(144,990)	100,001	(52,991)
Balance	553,767	569,090	354,593
Goodwill
Disclosure of detailed information about intangible assets [line items]
Balance	55,707	56,401
Balance	56,736	55,707	56,401
Goodwill | Cost
Disclosure of detailed information about intangible assets [line items]
Balance	56,013	56,699	50,773
Acquisitions	0	0	0
Acquisitions of subsidiaries (Note 26)			51,303
Reversal of previous impairment loss	0
Disposals	0	0	0
Disposals of subsidiaries			(44,357)
Impairment loss		0
Other (Note 22)	0	0
Translation differences	1,036	(686)	(1,020)
Balance	57,049	56,013	56,699
Goodwill | Depreciation
Disclosure of detailed information about intangible assets [line items]
Balance	306	298	340
Amortization of the year	0	66	105
Translation differences	7	(58)	(147)
Balance	313	306	298
Patent, intellectual property rights and others
Disclosure of detailed information about intangible assets [line items]
Balance	4,006	9,277
Balance	3,379	4,006	9,277
Patent, intellectual property rights and others | Cost
Disclosure of detailed information about intangible assets [line items]
Balance	15,162	20,004	16,376
Acquisitions	1,664	848	386
Acquisitions of subsidiaries (Note 26)			2,035
Reversal of previous impairment loss	0
Disposals	38	(5,617)	0
Disposals of subsidiaries			0
Impairment loss		0
Other (Note 22)	0	0
Translation differences	(1,997)	(73)	1,207
Balance	14,867	15,162	20,004
Patent, intellectual property rights and others | Depreciation
Disclosure of detailed information about intangible assets [line items]
Balance	11,156	10,727	11,374
Amortization of the year	580	775	573
Translation differences	(248)	(346)	(1,220)
Balance	$ 11,488	$ 11,156	$ 10,727

Intangible assets, net (Detai93

Intangible assets, net (Details 1) - Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about intangible assets [line items]
Impairment value	$ 3,065
Effect	(16,638)
Rate (6.08+ inflation%)
Disclosure of detailed information about intangible assets [line items]
Impairment value	3,065
Estimated rate (5.59%+ inflation)
Disclosure of detailed information about intangible assets [line items]
Impairment value	11,433
Effect	8,380
Estimated rate (6.6%+inflation)
Disclosure of detailed information about intangible assets [line items]
Impairment value	(4,737)
Effect	$ (7,790)
Rate (6.8+inflation%)
Disclosure of detailed information about intangible assets [line items]
Impairment value		$ 16,638
Estimated rate (6.54%+ inflation)
Disclosure of detailed information about intangible assets [line items]
Impairment value		11,745
Effect		(4,893)
Estimated rate (7.08%+inflation)
Disclosure of detailed information about intangible assets [line items]
Impairment value		21,634
Effect		$ 4,996

Intangible assets, net (Detai94

Intangible assets, net (Details 2) - Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Disclosure of detailed information about intangible assets [line items]
Net assets before impairment	$ 98,198
Impairment	(16,638)
Net assets after impairment	$ 81,560

Intangible assets, net (Detail

Intangible assets, net (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about intangible assets [line items]
Discount rate of weighted average cost of capital	6.80%
Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante
Disclosure of detailed information about intangible assets [line items]
Impairment percentage including inflation	6.80%
Reversal of impairment loss	$ 3,065
Remaining concession period		23 years

Property, plant and equipment96

Property, plant and equipment, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about property, plant and equipment [line items]
Balances	$ 65,984	$ 71,689
Balances	74,483	65,984	$ 71,689
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	150,704	154,645	412,690
Purchase of property, plant and equipment	11,512	10,391	8,185
Acquisitions of subsidiary (Note 26)			1,752
Disposals	(704)	(677)	(24,602)
Disposals of subsidiaries		(10,449)	(225,788)
Transfer	0		29
Transfer to Intangible	0
Translation differences	12,095	(3,206)	(17,621)
Balances	173,607	150,704	154,645
Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	84,720	82,956	221,429
Depreciation of the year	7,883	7,545	7,808
Disposals	(413)	(209)	(15,812)
Disposals of subsidiaries		(3,466)	(122,006)
Translation differences	6,934	(1,965)	(8,463)
Other		(141)
Balances	99,124	84,720	82,956
Land and buildings
Disclosure of detailed information about property, plant and equipment [line items]
Balances	37,863	39,323
Balances	42,221	37,863	39,323
Land and buildings | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	48,312	49,234	52,292
Purchase of property, plant and equipment	632	1,398	2,843
Acquisitions of subsidiary (Note 26)			0
Disposals	0	(329)	(566)
Disposals of subsidiaries		(575)	0
Transfer	199		0
Transfer to Intangible	0
Translation differences	5,512	(1,416)	(5,335)
Balances	54,655	48,312	49,234
Land and buildings | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	10,449	9,911	9,958
Depreciation of the year	777	921	1,023
Disposals	0	0	0
Disposals of subsidiaries		0	0
Translation differences	1,208	(355)	(1,070)
Other		(28)
Balances	12,434	10,449	9,911
Plant and production equipment
Disclosure of detailed information about property, plant and equipment [line items]
Balances	9,980	13,071
Balances	12,013	9,980	13,071
Plant and production equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	45,287	47,320	50,698
Purchase of property, plant and equipment	2,487	3,357	1,574
Acquisitions of subsidiary (Note 26)			1,352
Disposals	0	0	(119)
Disposals of subsidiaries		(4,211)	(68)
Transfer	2,466		0
Transfer to Intangible	0
Translation differences	4,149	(1,179)	(6,117)
Balances	54,389	45,287	47,320
Plant and production equipment | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	35,307	34,249	34,197
Depreciation of the year	3,021	2,497	3,433
Disposals	0	0	(12)
Disposals of subsidiaries		(499)	0
Translation differences	4,048	(940)	(3,369)
Other		0
Balances	42,376	35,307	34,249
Vehicles furniture and fixtures
Disclosure of detailed information about property, plant and equipment [line items]
Balances	14,302	13,001
Balances	14,252	14,302	13,001
Vehicles furniture and fixtures | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	37,693	34,218	42,959
Purchase of property, plant and equipment	4,659	4,175	2,965
Acquisitions of subsidiary (Note 26)			400
Disposals	(355)	(223)	(10,675)
Disposals of subsidiaries		(46)	(104)
Transfer	(2,466)		29
Transfer to Intangible	0
Translation differences	948	(431)	(1,356)
Balances	40,479	37,693	34,218
Vehicles furniture and fixtures | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	23,391	21,217	25,877
Depreciation of the year	3,057	2,643	1,490
Disposals	(238)	(209)	(5,387)
Disposals of subsidiaries		(11)	(5)
Translation differences	17	(249)	(758)
Other		0
Balances	26,227	23,391	21,217
Wells and prodcution facilities
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0
Balances	0	0	0
Wells and prodcution facilities | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0	140,066
Purchase of property, plant and equipment	0	0	0
Acquisitions of subsidiary (Note 26)			0
Disposals	0	0	0
Disposals of subsidiaries		0	(140,066)
Transfer	0		0
Transfer to Intangible	0
Translation differences	0	0	0
Balances	0	0	0
Wells and prodcution facilities | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0	101,117
Depreciation of the year	0	0	0
Disposals	0	0	0
Disposals of subsidiaries		0	(101,117)
Translation differences	0	0	0
Other		0
Balances	0	0	0
Mining property
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0
Balances	0	0	0
Mining property | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0	34,332
Purchase of property, plant and equipment	0	0	0
Acquisitions of subsidiary (Note 26)			0
Disposals	0	0	0
Disposals of subsidiaries		0	(34,332)
Transfer	0		0
Transfer to Intangible	0
Translation differences	0	0	0
Balances	0	0	0
Mining property | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0	20,243
Depreciation of the year	0	0	0
Disposals	0	0	0
Disposals of subsidiaries		0	(20,243)
Translation differences	0	0	0
Other		0
Balances	0	0	0
Works in progress
Disclosure of detailed information about property, plant and equipment [line items]
Balances	1,001	991
Balances	1,467	1,001	991
Works in progress | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	1,001	991	5,331
Purchase of property, plant and equipment	456	55	111
Acquisitions of subsidiary (Note 26)			0
Disposals	0	0	(153)
Disposals of subsidiaries		0	(4,184)
Transfer	0		0
Transfer to Intangible	0
Translation differences	10	(45)	(114)
Balances	1,467	1,001	991
Works in progress | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0	0
Depreciation of the year	0	0	0
Disposals	0	0	0
Disposals of subsidiaries		0	0
Translation differences	0	0	0
Other		0
Balances	0	0	0
Exploration and evaluation assets
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0
Balances	0	0	0
Exploration and evaluation assets | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0	44,758
Purchase of property, plant and equipment	0	0	0
Acquisitions of subsidiary (Note 26)			0
Disposals	0	0	0
Disposals of subsidiaries		0	(44,758)
Transfer	0		0
Transfer to Intangible	0
Translation differences	0	0	0
Balances	0	0	0
Exploration and evaluation assets | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	0	0	0
Depreciation of the year	0	0	0
Disposals	0	0	0
Disposals of subsidiaries		0	0
Translation differences	0	0	0
Other		0
Balances	0	0	0
Others
Disclosure of detailed information about property, plant and equipment [line items]
Balances	2,838	5,303
Balances	4,530	2,838	5,303
Others | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balances	18,411	22,882	42,254
Purchase of property, plant and equipment	3,278	1,406	692
Acquisitions of subsidiary (Note 26)			0
Disposals	(349)	(125)	(13,089)
Disposals of subsidiaries		(5,617)	(2,276)
Transfer	(199)		0
Transfer to Intangible	0
Translation differences	1,476	(135)	(4,699)
Balances	22,617	18,411	22,882
Others | Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Balances	15,573	17,579	30,037
Depreciation of the year	1,028	1,484	1,862
Disposals	(175)	0	(10,413)
Disposals of subsidiaries		(2,956)	(641)
Translation differences	1,661	(421)	(3,266)
Other		(113)
Balances	$ 18,087	$ 15,573	$ 17,579

Investments in associates (Deta

Investments in associates (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Disclosure of associates [abstract]
Balances at the beginning of the year		$ 10,927		$ 14,450	$ 169,660
Translation differences		432		(44)	(39,999)
Share of loss in associates		(15,841)		(1,306)	(69,317)
Contributions		17,950	[1]	13	54,317
Disposals of associates		0		(2,186)	(40,275)
Decrease	[2]	(33)		0	(59,936)
Balances at the end of the year		$ 13,435		$ 10,927	$ 14,450
[1]	As of December 2017, CAAP made contributions in kind in Aeropuertos Andinos del Peru S.A. by the capitalization of credits (Note 28) keeping the same percentage of ownership.
[2]	In December 2015 the Group acquired an additional participation in these associates, and as a result, the Group obtained control of those companies (See Note 26).

Investments in associates (De98

Investments in associates (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of associates [line items]
Share of income in associates	$ (15,841)	$ (1,306)	$ (69,317)
Caminos del Parana S.A.
Disclosure of associates [line items]
Share of income in associates	35	402	0
Aeropuertos Andinos del Peru S.A.
Disclosure of associates [line items]
Share of income in associates	(9,338)	168	1,342
Sociedad Aeroportuaria KunturWasi S.A.
Disclosure of associates [line items]
Share of income in associates	(5,945)	(565)	(526)
Inframerica Participacoes S.A.
Disclosure of associates [line items]
Share of income in associates	0	0	(19,050)
Inframerica Concessionaria do Aeroporto de Sao Goncalo do Amarante S.A.
Disclosure of associates [line items]
Share of income in associates	0	0	(52,908)
Others
Disclosure of associates [line items]
Share of income in associates	$ (593)	$ (1,311)	$ 1,825

Investments in associates (De99

Investments in associates (Details 2) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of associates [line items]
Investments in associates		$ 13,435	$ 10,927	$ 14,450	$ 169,660
Aeropuertos Ecologicos de Galapagos S.A.
Disclosure of associates [line items]
Main activity	[1]	Airport Operation	Airport Operation	Airport Operation
Country of incorporation	[1]	Ecuador	Ecuador	Ecuador
Percentage of ownership	[1]	99.90%	99.90%	99.90%
Investments in associates	[1]	$ 1,000	$ 1,000	$ 1,000
Sociedad Aeroportuaria KunturWasi S.A.
Disclosure of associates [line items]
Main activity	[2]	Airport Operation	Airport Operation	Airport Operation
Country of incorporation	[2]	Peru	Peru	Peru
Percentage of ownership	[2]	47.68%	47.68%	47.68%
Investments in associates	[2]	$ 0	$ 5,787	$ 6,460
Aeropuertos Andinos del Peru S.A.
Disclosure of associates [line items]
Main activity		Airport Operation	Airport Operation	Airport Operation
Country of incorporation		Peru	Peru	Peru
Percentage of ownership		50.00%	50.00%	50.00%
Investments in associates		$ 11,762	$ 2,717	$ 2,788
Quitotelecenter SA
Disclosure of associates [line items]
Main activity		Shopping administrator	Shopping administrator	Shopping administrator
Country of incorporation		Ecuador	Ecuador	Ecuador
Percentage of ownership		0.00%	0.00%	40.00%
Investments in associates		$ 0	$ 0	$ 2,311
Others
Disclosure of associates [line items]
Percentage of ownership		0.00%	0.00%	0.00%
Investments in associates		$ 673	$ 1,423	$ 1,891
[1]	Under the terms of the Galapagos Concession Agreement, the net income generated by the Company must be transferred entirely to the Direccion General de Aviacion Civil ("DGAC"), however, the Group maintains the operational management of such company and therefore has significant influence.
[2]	On July 13, 2017, the Government of Peru notified the unilateral decision to rescind the concession agreement for the Nuevo Aeropuerto International de Chinchero. The Company has stated its intention to reach an agreement, however, if it is not achieved, will initiate legal proceedings as established in the concession agreement. In line with this, the Company notified the State of Peru of its disagreement with the unilateral resolution and its intention to begin a Direct Treatment procedure, such procedure as provided in the Concession Agreement. The Company also communicated the non-compliance of certain State obligations under the 1996 Bilateral Investment Agreement between Peru and Argentina for the promotion and protection of investments caused by the mentioned unilateral resolution.

Investments in associates (D100

Investments in associates (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of associates [line items]
Non-current assets	$ 3,221,736	$ 3,120,151	$ 2,876,905
Current assets	579,478	507,125	394,722
Total assets	3,801,214	3,627,276	3,271,627
Non-current liabilities	2,272,050	2,161,176	1,955,490
Current liabilities	732,022	662,776	482,036
Total liabilities	3,004,072	2,823,952	2,437,526
Equity	797,142	803,324	834,101	$ 1,466,565
Revenue	1,575,153	1,366,336	1,187,090
Income/(Loss) for the year	66,891	29,240	115,291
Other comprehensive income (loss) for the year	(25,135)	(44,637)	(210,539)
Total comprehensive income for the year	41,756	(15,397)	(95,248)
Aeropuertos Andinos del Peru S.A.
Disclosure of associates [line items]
Non-current assets	31,215	37,224	34,287
Current assets	4,690	7,959	4,103
Total assets	35,905	45,183	38,390
Non-current liabilities	2,430	33,626	29,155
Current liabilities	9,951	6,123	4,220
Total liabilities	12,381	39,749	33,375
Equity	23,524	5,434	5,015
Revenue	14,681	13,769	12,068
Income/(Loss) for the year	(18,676)	336	2,305
Other comprehensive income (loss) for the year	867	83	(556)
Total comprehensive income for the year	$ (17,809)	419	1,749
Sociedad Aeroportuaria KunturWasi S.A.
Disclosure of associates [line items]
Non-current assets		27,917	27,590
Current assets		2,566	498
Total assets		30,483	28,088
Non-current liabilities		15,837	13,010
Current liabilities		3,072	2,157
Total liabilities		18,909	15,167
Equity		11,574	12,921
Revenue		0	0
Income/(Loss) for the year		(1,543)	(1,005)
Other comprehensive income (loss) for the year		196	(1,359)
Total comprehensive income for the year		$ (1,347)	$ (2,364)

Deferred income tax (Details)

Deferred income tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred tax liabilities
Balances at	$ (144,393)	$ (145,777)
Balances at	(148,301)	(144,393)	$ (145,777)
Property, plant and equipment and Intangibles Assets
Deferred tax liabilities
Balances at	156,813	167,229	142,053
Acquisitions of subsidiary (Note 26)			50,965
Disposals of subsidiaries		(387)	1,895
Increase of deferred tax assets for the year	(5,008)	(6,121)	(13,308)
Translation differences	2,715	(3,908)	(14,376)
Balances at	154,520	156,813	167,229
Other liabilities
Deferred tax liabilities
Balances at	72,208	55,926	3,160
Acquisitions of subsidiary (Note 26)			54,093
Disposals of subsidiaries		0	(682)
Increase of deferred tax assets for the year	8,645	4,687	(226)
Translation differences	(1,400)	11,595	(419)
Balances at	79,453	72,208	55,926
Deferred tax liabilities
Deferred tax liabilities
Balances at	229,021	223,155	145,213
Acquisitions of subsidiary (Note 26)			105,058
Disposals of subsidiaries		(387)	1,213
Increase of deferred tax assets for the year	3,637	(1,434)	(13,534)
Translation differences	1,315	7,687	(14,795)
Balances at	$ 233,973	$ 229,021	$ 223,155

Deferred income tax (Details 1)

Deferred income tax (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets
Balances at	$ (144,393)	$ (145,777)
Balances at	(148,301)	(144,393)	$ (145,777)
Provisions and allowances
Deferred tax assets
Balances at	9,000	8,599	9,787
Acquisitions of subsidiary (Note 26)			0
Disposals of subsidiaries		(35)	(668)
Increase of deferred tax assets for the year	1,014	909	673
Translation differences	(3,411)	(473)	(1,193)
Balances at	6,603	9,000	8,599
Tax loss carry forwards
Deferred tax assets
Balances at	169,177	110,621	40,838
Acquisitions of subsidiary (Note 26)			96,907
Disposals of subsidiaries		(1,135)	(15,237)
Increase of deferred tax assets for the year	43,435	38,205	(8,883)
Translation differences	(4,234)	21,486	(3,004)
Balances at	208,378	169,177	110,621
Other
Deferred tax assets
Balances at	5,709	5,801	10,938
Acquisitions of subsidiary (Note 26)			450
Disposals of subsidiaries		0	(3,908)
Increase of deferred tax assets for the year	1,031	215	(399)
Translation differences	(722)	(307)	(1,280)
Balances at	6,018	5,709	5,801
Deferred tax assets
Deferred tax assets
Balances at	183,886	125,021	61,563
Acquisitions of subsidiary (Note 26)			97,357
Disposals of subsidiaries		(1,170)	(19,813)
Increase of deferred tax assets for the year	45,480	39,329	(8,609)
Translation differences	(8,367)	20,706	(5,477)
Balances at	$ 220,999	$ 183,886	$ 125,021

Deferred income tax (Details 2)

Deferred income tax (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
Deferred tax assets	$ 135,327	$ 99,258	$ 47,643
Deferred tax liabilities	148,301	144,393	145,777
Recovered within 12 months
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
Deferred tax assets	154	0	0
Deferred tax liabilities	(2,471)	(197)	(59)
Recovered after 12 months
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
Deferred tax assets	135,399	104,051	51,889
Deferred tax liabilities	$ (146,056)	$ (148,989)	$ (149,964)

Deferred income tax (Details 3)

Deferred income tax (Details 3) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Deferred tax assets (Notes 15)	$ 135,327	$ 99,258	$ 47,643
Deferred tax liabilities (Notes 15)	$ (148,301)	$ (144,393)	$ (145,777)

Deferred income tax (Detail Tex

Deferred income tax (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Not recognized as deferred tax assets	$ 35	$ 27	$ 15
Uruguay
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of temporary differences in Deferred income taxes	25.00%
Argentina
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of temporary differences in Deferred income taxes	30.00%	25.00%
Italy
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of temporary differences in Deferred income taxes	27.50%
Armenia
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of temporary differences in Deferred income taxes	20.00%
Brazil
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of temporary differences in Deferred income taxes	34.00%
Ecuador
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of temporary differences in Deferred income taxes	22.00%
Luxembourg
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of temporary differences in Deferred income taxes	22.00%

Other receivables (Details)

Other receivables (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-Current
Tax credits		$ 28,927	$ 26,772	$ 27,129
Receivables from related parties (Note 27)		2,127	4,781	12,635
Trust funds	[1]	136,689	82,942	74,678
Prepaid expenses		234	891	338
Other	[2]	5,416	2,688	2,511
Other non current receivables		173,393	118,074	117,291
Current
Tax credits		29,948	23,346	18,992
Guarantee deposit	[3]	121,614	96,759	17,085
Trust funds	[1]	0	0	4,842
Receivables from related parties (Note 27)		13,203	4,244	5,252
Prepaid expenses		3,768	7,753	5,661
Other		14,529	5,105	5,069
Other current receivables		$ 183,062	$ 137,207	$ 56,901
[1]	Funds are held by a trust, on which the Company does not have the power to direct the relevant activities of the trustee company and is not exposed, or have rights, to variable returns, as such does not consolidate the trustee company.
[2]	As of December 31, 2017 includes fees related to Initial Public Offering project for USD 2.8 million.
[3]	As of December 31, 2017 includes a time deposit of CAAP for USD 90.7 million in pledge of a loan of Inframerica Concessionaria do Aeroporto de Brasilia S.A. with Banco Santander according to Note 21. As of December 31, 2016 includes legal deposit in Brazil for USD 76 million (none in 2015) related to the fixed contribution accrued in the current year from Inframerica Concessionaria do Aeroporto de Brasilia S.A.

Other receivables (Detail Textu

Other receivables (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Other Receivables [Abstract]
Time deposits pledged as collateral	$ 90.7
Legal deposits pledged as collateral	76
Fees Related To Initial Public Offering	2.8
Amount of fair value of financial assets non current receivables	$ 165	$ 108	$ 103

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Inventories [Abstract]
Finished goods	$ 191	$ 621	$ 2,042
Supplies	2,531	2,467	2,071
Oil and byproducts	5,842	4,576	4,111
Inventories	$ 8,564	$ 7,664	$ 8,224

Trade receivables (Details)

Trade receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Non-Current
Accounts receivable	$ 4,244	$ 0	$ 51
Non current trade receivables	4,244		51
Current
Accounts receivable	141,253	122,677	113,666
Trade receivables from related parties (Note 27)	1,130	1,484	5,423
Provision for bad debts	(20,549)	(14,551)	(17,782)	$ 13,652
Current trade receivables	$ 121,834	$ 109,610	$ 101,307

Trade receivables (Details 1)

Trade receivables (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Balances as of the beginning of the year	$ 14,551	$ 17,782	$ (13,652)
Bad debts of the year	(7,672)	(1,976)	(2,574)
Acquisitions of subsidiary	0	0	(5,944)
Recoveries	268	2,248	0
Write off	403	2,390	237
Translation differences	1,003	569	2,274
Disposals of subsidiaries	0	0	1,877
Balance as of end of year	$ 20,549	$ 14,551	$ 17,782

Trade receivables (Details 2)

Trade receivables (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of financial assets that are either past due or impaired [line items]
Provision for bad debts	$ 20,549	$ 14,551	$ 17,782	$ (13,652)
Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Trade Receivables Gross	146,627	124,161	119,089
Provision for bad debts	(20,549)	(14,551)	(17,782)
Trade receivables	126,078	109,610	101,307
Trade receivables | Not due
Disclosure of financial assets that are either past due or impaired [line items]
Trade Receivables Gross	35,799	90,655	84,712
Provision for bad debts	(915)	(4,556)	0
Trade receivables	34,884	86,099	84,712
Trade receivables | Past due 1-180 days
Disclosure of financial assets that are either past due or impaired [line items]
Trade Receivables Gross	94,838	17,170	16,181
Provision for bad debts	(4,166)	(2,718)	(2,856)
Trade receivables	90,672	14,452	13,325
Trade receivables | Past due more than 180 days
Disclosure of financial assets that are either past due or impaired [line items]
Trade Receivables Gross	15,990	16,336	18,196
Provision for bad debts	(15,468)	(7,277)	(14,926)
Trade receivables	$ 522	$ 9,059	$ 3,270

Other financial assets (Details

Other financial assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-current
Time Deposits	$ 2,500	$ 0	$ 0
Related parties (Note 27)	0	0	15,078
Other	0	721	0
Non-current financial assets	2,500	721	15,078
Current
Debt service reserve account		15,075	15,075
Related parties (Note 27)	3,621	7,769	8,270
Loans	0	0	1,986
Corporate Bonds	12,593	0	0
Time Deposits	23,500	7,349	12,482
Other	82	3,743	2,499
Current financial assets	$ 39,796	$ 33,936	$ 40,312

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Cash and cash equivalents [abstract]
Cash to be deposited	$ 1,483	$ 1,313	$ 1,344
Cash at banks	189,283	146,726	170,675
Time deposits	29,003	63,244	11,782
Other cash equivalents	1,832	1,705	438
Cash and cash equivalents total	$ 221,601	$ 212,988	$ 184,239	$ 217,133

Cash and cash equivalents (D114

Cash and cash equivalents (Details 1) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Cash and cash equivalents [abstract]
Cash and cash equivalents		$ 221,601	$ 212,988	$ 184,239	$ 217,133
Restricted cash	[1]	0	(30,872)	(30,346)
Bank overdraft		0	0	(4)
Total		$ 221,601	$ 182,116	$ 153,889
[1]	Restricted cash balances excluded from cash and cash equivalents relate to guarantees of AA2000 (see Note 21).

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015
Disclosure of detailed information about borrowings [line items]
Non-current		$ 1,113,655	$ 965,672	$ 960,316
Current		372,790	141,569	127,250
Total Borrowings		1,486,445	1,107,241	1,087,566	$ 765,184
Bank and financial borrowings
Disclosure of detailed information about borrowings [line items]
Non-current	[1]	453,428	551,431	487,021
Current	[1]	311,902	52,671	53,129
Total Borrowings		765,330	604,102	540,150
Notes
Disclosure of detailed information about borrowings [line items]
Non-current	[2]	658,109	411,200	470,295
Current	[2]	24,306	64,439	70,471
Loans with related parties
Disclosure of detailed information about borrowings [line items]
Current		34,651	22,220	618
Bank overdrafts
Disclosure of detailed information about borrowings [line items]
Current		0	0	4
Others
Disclosure of detailed information about borrowings [line items]
Non-current		2,118	3,041	3,000
Current		$ 1,931	$ 2,239	$ 3,028
[1]	As of December 31, 2017 significant bank and financial borrowings include the following:
[2]	Notes include the following:

Borrowings (Details 1)

Borrowings (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Borrowings [abstract]
Balances at the beginning of the year	$ 1,107,241	$ 1,087,566	$ 765,184
Acquisitions of subsidiary (Note 26)	0	0	332,976
Loans obtained	596,030	52,099	286,839
Loans paid	(250,276)	(142,693)	(231,597)
Interest paid (Note 21)	(106,953)	(48,564)	(38,334)
Disposals of subsidiaries	0	0	(47,281)
Accrued interest for the year	119,964	118,219	68,673
Translation differences	20,439	40,614	(48,894)
Balances at the end of the year	$ 1,486,445	$ 1,107,241	$ 1,087,566

Borrowings (Details 2)

Borrowings (Details 2) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about borrowings [line items]
Undiscounted cash flow of principal and estimated interest	[1]	$ 1,980,501	$ 1,500,562	$ 1,382,411
1 year or less
Disclosure of detailed information about borrowings [line items]
Undiscounted cash flow of principal and estimated interest	[1]	422,746	132,756	134,428
1 to 2 years
Disclosure of detailed information about borrowings [line items]
Undiscounted cash flow of principal and estimated interest	[1]	230,464	187,150	153,303
2 to 5 years
Disclosure of detailed information about borrowings [line items]
Undiscounted cash flow of principal and estimated interest	[1]	523,855	418,061	227,368
Over 5 years
Disclosure of detailed information about borrowings [line items]
Undiscounted cash flow of principal and estimated interest	[1]	$ 803,436	$ 762,595	$ 867,312
[1]	The amounts disclosed in the table are undiscounted cash flows of principal and estimated interest. Variable interest rate cash flows have been estimated using variable interest rates applicable at the end of the reporting period.

Borrowings (Details 3)

Borrowings (Details 3) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Borrowings [abstract]
Fair value of long-term borrowings	[1]	$ 1,498,385	$ 1,128,407	$ 1,113,117
Total Fair value of long-term borrowings		$ 1,498,385	$ 1,128,407	$ 1,113,117
[1]	Valuation at quotation prices (not adjusted) in active markets for identical assets or liabilities Fair Value level 2 under IFRS 13 hierarchy. There are no financial instruments measured at fair value.

Borrowings (Details 4)

Borrowings (Details 4) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016		Dec. 31, 2015		Jan. 01, 2015
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 1,486,445		$ 1,107,241		$ 1,087,566		$ 765,184
Bank and financial borrowings
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 765,330		$ 604,102		$ 540,150
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | September 2032
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	TJLP		TJLP		TJLP
Borrowings, adjustment to interest rate basis		3.14%		3.14%		3.14%
Borrowings		$ 98,600		$ 98,200		$ 81,900
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | June 2032
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	T.R.+ 3.14%+IPCA		T.R.+ 3.14%+IPCA		T.R.+ 3.14%+IPCA
Borrowings, adjustment to interest rate basis		3.14%		3.14%		3.14%
Borrowings		$ 2,200		$ 2,400		$ 2,000
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | September 2032
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	T.R.+ 3.14%+IPCA		T.R.+ 3.14%+IPCA		T.R.+ 3.14%+IPCA
Borrowings, adjustment to interest rate basis		3.14%		3.14%		3.14%
Borrowings		$ 5,800		$ 5,300	[2]	$ 4,300	[2]
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | September 2032
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate				2.50%
Borrowings				$ 3,900
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | September 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		2.50%				2.50%
Borrowings		$ 3,200	[2]			$ 3,800
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | July 2032
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	T.R.+ 3.14%+IPCA		T.R.+ 4.74%+IPCA		T.R.+ 4.74%+IPCA
Borrowings, adjustment to interest rate basis		3.14%		4.74%		4.74%
Borrowings		$ 1,500		$ 1,200		$ 1,100
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | July 2032
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	T.R.+ 4.74%+IPCA		T.R.+ 3.14%+IPCA		T.R.+ 3.14%+IPCA
Borrowings, adjustment to interest rate basis		4.74%		3.14%		3.14%
Borrowings		$ 1,200		$ 1,600		$ 1,400
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | December 2028
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	TJLP		TJLP		TJLP
Borrowings, adjustment to interest rate basis		3.14%		3.14%		3.14%
Borrowings	[2]	$ 218,400		$ 220,000		$ 163,600
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | December 2028
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	TJLP		TJLP		TJLP
Borrowings, adjustment to interest rate basis		3.60%		3.60%		3.60%
Borrowings	[2]	$ 72,800		$ 76,800		$ 56,900
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | December 2028
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate						6.00%
Borrowings	[2]					$ 1,700
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | December 2017
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	IPCA		IPCA		IPCA
Borrowings	[2]	$ 5,700		$ 7,100		$ 4,900
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | December 2023
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		6.00%		6.00%		6.00%
Borrowings	[2]	$ 4,800		$ 5,700		$ 3,700
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | July 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	[1]	TJLP
Borrowings, adjustment to interest rate basis		8.10%
Borrowings	[2]	$ 300
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | July 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		Selic
Borrowings, adjustment to interest rate basis		7.38%
Borrowings	[2]	$ 100
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | June 2018
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		CDI
Borrowings, adjustment to interest rate basis		0.45%
Borrowings	[2]	$ 90,900
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | March 2018
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		9.00%
Borrowings	[2]	$ 14,600
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | January 2018
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		CDI
Borrowings, adjustment to interest rate basis		6.50%
Borrowings	[2]	$ 9,700
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | April 2017
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis				CDI
Borrowings, adjustment to interest rate basis				4.50%
Borrowings	[2]			$ 3,500
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | September 2016
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate						17.10%
Borrowings	[2]					$ 0
Bank and financial borrowings | Inframerica Concessionaria do Aeroporto de Brasilia | December 2016
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis						CDI
Borrowings, adjustment to interest rate basis						3.00%
Borrowings	[2]					$ 7,600
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2019
Disclosure of detailed information about borrowings [line items]
Borrowings	[2]	$ 4,100		$ 6,100
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2019 | Bottom of range
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		6.86%		7.50%
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2019 | Top of range
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		6.92%		8.00%
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2019 Two
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		6.92%		7.50%
Borrowings	[2]	$ 5,600		$ 8,400
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2016-2019
Disclosure of detailed information about borrowings [line items]
Borrowings	[2]					$ 13,300
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2016-2019 | Bottom of range
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate						7.59%
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2016-2019 | Top of range
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate						8.90%
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2016-2019
Disclosure of detailed information about borrowings [line items]
Borrowings	[2]					$ 5,500
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2016-2019 | Bottom of range
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate						7.71%
Bank and financial borrowings | Terminal Aeroportuaria de Guayaquil S.A | 2016-2019 | Top of range
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate						8.88%
Bank and financial borrowings | Terminal de Cargas de Uruguay SA | June 2020
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		4.25%		4.25%
Borrowings	[2]	$ 1,100		$ 1,500
Bank and financial borrowings | Toscana Aeroporti S.p.a. | June 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		Euribor 6 month plus spread		Euribor 6 month plus spread		Euribor 6 month plus spread
Borrowings	[2]	$ 9,300		$ 10,200		$ 10,700
Bank and financial borrowings | Toscana Aeroporti S.p.a. | September 2027
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		Euribor 6 month plus spread		Euribor 6 month plus spread		Euribor 6 month plus spread
Borrowings	[2]	$ 34,400		$ 32,700		$ 38,300
Bank and financial borrowings | Toscana Aeroporti S.p.a. | November 2018
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		Euribor 3 month plus spread
Borrowings	[2]	$ 6,000
Bank and financial borrowings | Toscana Aeroporti S.p.a. | June 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		Euribor 3 month plus spread
Borrowings	[2]	$ 500
Bank and financial borrowings | Armenia International Airports CJSC | June 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		Libor
Borrowings, adjustment to interest rate basis		5.50%
Borrowings, interest rate				7.89%		7.86%
Borrowings	[2]	$ 57,100		$ 116,300		$ 131,900
Bank and financial borrowings | Armenia International Airports CJSC | June 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis		Euribor
Borrowings, adjustment to interest rate basis		5.50%
Borrowings		$ 51,200
Bank and financial borrowings | Corporacion America Airports S.A. | March 2019
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		7.63%
Borrowings	[2]	$ 50,100
Bank and financial borrowings | Corporacion America Airports S.A. | December 2019
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		2.40%
Borrowings	[2]	$ 15,000
Bank and financial borrowings | Aeropuertos Argentina 2000 SA | September 2018
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		27.86%		27.86%
Borrowings	[2]	$ 1,000		$ 2,300
Bank and financial borrowings | Aeropuertos Argentina 2000 SA | June 2017
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate				26.42%		26.42%
Borrowings				$ 700		$ 7,360	[2]
Bank and financial borrowings | Aeropuerto de Bahia Blanca S.A. | March 2019
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		4.75%		4.75%		4.75%
Borrowings	[2]	$ 100		$ 200		$ 240
[1]	TJLP - Taxa de Juros de Longo Prazo (Brazilian Long term interest rate) IPCA: corresponds to the Brazilian consumer Price index)
[2]	A - Secured/guaranteed B - Secured/unguaranteed C - Unsecured/guaranteed D - Unsecured/unguaranteed

Borrowings (Detail Textuals)

Borrowings (Detail Textuals) $ in Thousands, € in Millions	Feb. 06, 2017USD ($)Installment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)Installment	Dec. 31, 2014EUR (€)	Dec. 31, 2007USD ($)Installment	Jan. 01, 2015USD ($)	Dec. 31, 2008USD ($)
Disclosure of detailed information about borrowings [line items]
Principal amount of borrowings		$ 1,486,445	$ 1,107,241	$ 1,087,566			$ 765,184
Debt service reserve account			15,075	15,075
Redemption of borrowings		$ 250,276	142,693	$ 231,597
Puerta Del Sur S.A. | Notes 7.75%
Disclosure of detailed information about borrowings [line items]
Borrowings interet rate						7.75%
Principal amount of borrowings						$ 87,000
Number of instalments to repayment of loan | Installment						22
Minimum debt coverage service ratio						1.7
Maximum indebtness ratio						3
ACI Airport Sudamerica S.A. | Notes 6.875%
Disclosure of detailed information about borrowings [line items]
Borrowings interet rate				6.875%
Principal amount of borrowings				$ 200,000
Number of instalments to repayment of loan | Installment				34
Debt service reserve account			15,000
Corporacion America Italia S.A. | Notes 6.25%
Disclosure of detailed information about borrowings [line items]
Borrowings interet rate					6.25%
Principal amount of borrowings | €					€ 50
Percentage of share capital of dbet issuing entity secured by pledge					100.00%
Terminal Aeroportuaria de Guayaquil S.A | Notes Due 2016
Disclosure of detailed information about borrowings [line items]
Principal amount of borrowings								$ 28,000
Adjustment to base rate								2.50%
Aeropuertos Argentina 2000 SA | Notes Due 2020
Disclosure of detailed information about borrowings [line items]
Principal amount of borrowings								$ 328,000
Cash pledged as collateral			$ 30,872	$ 30,346
Aeropuertos Argentina 2000 SA | Notes 10% Due 2020
Disclosure of detailed information about borrowings [line items]
Borrowings interet rate								10.00%
Aeropuertos Argentina 2000 SA | Notes 10.75% Due 2020
Disclosure of detailed information about borrowings [line items]
Borrowings interet rate								10.75%
Aeropuertos Argentina 2000 SA | Notes 6.875%
Disclosure of detailed information about borrowings [line items]
Borrowings interet rate	6.875%
Principal amount of borrowings	$ 400,000
Number of instalments to repayment of loan | Installment	32
Percentage of issue price	99.888%
Redemption of borrowings	$ 157,500
Loss on redemption of borrowings	$ 13,000
Corona Trading Corp. | Notes 9.064%
Disclosure of detailed information about borrowings [line items]
Borrowings interet rate								9.064%
Principal amount of borrowings								$ 25,000

Borrowings (Detail Textuals 1)

Borrowings (Detail Textuals 1) $ in Thousands, R$ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Nov. 30, 2012USD ($)tranche	Dec. 31, 2017BRL (R$)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 01, 2015USD ($)	Feb. 28, 2014USD ($)	Feb. 28, 2014BRL (R$)	Nov. 30, 2012BRL (R$)
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount	$ 1,486,445			$ 1,107,241	$ 1,087,566	$ 765,184
Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | Credit Facility Agreement With BNDES
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount		$ 139,500							R$ 329.3
Number of tranches of loan | tranche		9
Amount of letter of guarantees issued as pledge		$ 6,100
Maximum percentage of net profits for dividend payment requiring pre-authorization		25.00%							25.00%
Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante | Extended Credit Facility Agreement With BNDES
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount	$ 90,700		R$ 300.0
Period of interest only payments	2 years
Percentage of interest due allowed for capitalization	50.00%
Period of capitalization of interest	2 years
Period of final maturity of loan	2 years
Inframerica Concessionaria do Aeroporto de Brasilia | Credit Facility Agreement With BNDES And CAIXA
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount							$ 356,400	R$ 841.0
Maximum percentage of net profits for dividend payment requiring pre-authorization							25.00%	25.00%
Inframerica Concessionaria do Aeroporto de Brasilia | Extended Credit Facility Agreement With BNDES
Disclosure of detailed information about borrowings [line items]
Period of interest only payments	3 years
Percentage of interest due allowed for capitalization	50.00%
Period of capitalization of interest	2 years
Period of final maturity of loan	2 years
ACI Airports SARL And CAAP | Extended Credit Facility Agreement With BNDES
Disclosure of detailed information about borrowings [line items]
Period of debt service amount calculation for additional security.	24 months
Additional security requirement period	2 years

Borrowings (Detail Textuals 2)

Borrowings (Detail Textuals 2) $ in Thousands, R$ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 20, 2017USD ($)	Dec. 20, 2017BRL (R$)	Dec. 19, 2017USD ($)	Dec. 19, 2017BRL (R$)	Dec. 14, 2017USD ($)	Dec. 14, 2017BRL (R$)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 01, 2015USD ($)
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount	$ 1,486,445							$ 1,107,241	$ 1,087,566	$ 765,184
Inframerica Concessionaria do Aeroporto de Brasilia | Citibank Credit Agreement
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount						$ 14,500	R$ 48
Inframerica Concessionaria do Aeroporto de Brasilia | Banco Pine Credit Agreement
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount				$ 9,700	R$ 32
Inframerica Concessionaria do Aeroporto de Brasilia | Banco Santander Bridge Loan Facility Agreement
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount		$ 90,700	R$ 300
Cash deposit pledged as collateral		$ 90,700	R$ 300
Period of loan	180 days

Borrowings (Detail Textuals 3)

Borrowings (Detail Textuals 3) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 15, 2015USD ($)	Jan. 01, 2015USD ($)
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount	$ 1,486,445		$ 1,107,241	$ 1,087,566		$ 765,184
Julius Baer Credit Agreement
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount	$ 15,000
Period of loan	24 months
Armenia International Airports CJSC | Senior Secured Dual Currency Facility Agreement
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount					$ 160,000
Cash deposit pledged as collateral	$ 25,409		13,072	18,975
Asset pledged as collateral	$ 170,588		$ 176,461	$ 185,914
Toscana Aeroporti S.p.A.
Disclosure of detailed information about borrowings [line items]
Cash deposit pledged as collateral | €		€ 1

Other liabilities (Details)

Other liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-current
Concession fee payable	[1]	$ 916,203	$ 970,762	$ 772,088
Advances from customers		31,909	27,922	17,680
Provisions for legal claims	[2]	5,798	0	0
Provision for maintenance costs	[3]	22,207	20,113	20,423
Other taxes payable		8,531	10,242	3,142
Employee benefit obligation	[4]	9,068	8,498	8,139
Salary payable		916	772	1,006
Other liabilities with related parties (Note 27)		1,816	600	2,567
Other payables		10,344	10,539	22,256
Total other non-current liabilities		1,006,792	1,049,448	847,301
Current
Concession fee payable	[1]	54,840	202,584	99,051
Other taxes payable		32,840	28,729	23,555
Salary payable		41,753	39,084	33,568
Other liabilities with related parties (Note 27)		33,132	31,369	27,197
Advances from customers		6,124	13,941	15,048
Provision for maintenance cost	[3]	9,496	6,713	4,506
Expenses provisions		4,569	6,222	1,973
Provisions for legal claims	[2]	3,127	5,878	4,730
Other payables		23,605	12,787	16,944
Total other current liabilities		$ 209,486	$ 347,307	$ 226,572
[1]	The most significant amount include in concession fee payable are generated by the concession agreement between The Brazilian National Civil Aviation Agency – ANAC and Inframerica Concessionária do Aeroporto de Brasilia S.A. and Inframerica Concessionária do Aeroportode São Gonçalo do Amarante S.A.
[2]	Changes in the year of the provision for legal claims is as follows:
[3]	Changes in the year of the Provision for maintenance costs is as follows:
[4]	TAGSA and Toscana have post-employment benefits which are defined benefit obligation. The amount of termination benefit has been calculated using the “Projected Unit Credit Method”, making actuarial valuations at the end of the period.

Other liabilities (Details 1)

Other liabilities (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
At balance	$ 3,109,525	$ 3,462,020	$ 2,850,540
1 year or less
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
At balance	188,192	378,130	237,620
1 to 2 years
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
At balance	94,590	90,290	72,130
2 - 5 years
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
At balance	306,318	293,170	233,630
Over 5 years
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
At balance	$ 2,520,425	$ 2,700,430	$ 2,307,160

Other liabilities (Details 2)

Other liabilities (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Other Liabilties [Abstract]
Values at the beginning of the year	$ 1,173,346	$ 871,139	$ 38,739
Acquisition of subsidiaries (Note 26)	0	0	836,258
Financial result	98,122	107,408	2,039
Concession fees	162,117	146,971	133,846
Payments	(325,454)	(136,092)	(136,809)
Payments in advance	(40,126)	0	0
Others	(84,075)	9,132	0
Translation differences	(12,887)	174,788	(2,934)
At the end of the year	$ 971,043	$ 1,173,346	$ 871,139

Other liabilities (Details 3)

Other liabilities (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of other provisions [line items]
Balances at the beginning of the year	$ 26,826	$ 24,929	$ 51,188
Accrual of the year	2,822	4,679	5,391
Use of the provision	(1,507)	(1,906)	(2,580)
Disposals of subsidiaries	0	0	(25,152)
Translation differences	3,562	(876)	(3,918)
Balances at the end of year	$ 31,703	$ 26,826	$ 24,929

Other liabilities (Details 4)

Other liabilities (Details 4) - Toscana Aeroporti S.p.a. $ in Thousands	Dec. 31, 2017USD ($)
Annual discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible increase in actuarial assumption	0.50%
Percentage of reasonably possible decrease in actuarial assumption	(0.50%)
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 6,172
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ 6,856
Annual rate of inflation
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible increase in actuarial assumption	0.25%
Percentage of reasonably possible decrease in actuarial assumption	(0.25%)
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 6,606
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ 6,399
Annual turnover rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible increase in actuarial assumption	2.50%
Percentage of reasonably possible decrease in actuarial assumption	(2.50%)
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 6,395
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ 6,557

Other liabilities (Details 5)

Other liabilities (Details 5) - Terminal Aeroportuaria Guayaquil S.A. ("TAGSA") $ in Thousands	Dec. 31, 2017USD ($)
Annual discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	(1.00%)
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 1,068
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ 1,406
Annual employee future wage increase
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	(1.00%)
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 1,410
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ 1,062
Annual turnover rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible increase in actuarial assumption	5.00%
Percentage of reasonably possible decrease in actuarial assumption	(5.00%)
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 1,204
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ 1,246

Other liabilities (Details 6)

Other liabilities (Details 6) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of other provisions [line items]
Balances at the beginning of the year	$ 26,826	$ 24,929	$ 51,188
Balances at the end of year	31,703	26,826	24,929
Provision for employee benefit obligation
Disclosure of other provisions [line items]
Balances at the beginning of the year	8,498	8,139	6,198
Actuarial gain/loss (in other comprehensive income)	(323)	403	(475)
Interest for services	165	239	164
Service Cost	250	177	21
Amounts paid in the year	(487)	(223)	(487)
Contributions	0	0	3,322
Translation differences	965	(237)	(604)
Balances at the end of year	$ 9,068	$ 8,498	$ 8,139

Other liabilities (Details 7)

Other liabilities (Details 7) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of other provisions [line items]
Balances at the beginning of the year	$ 26,826	$ 24,929	$ 51,188
Accrual of the year	2,822	4,679	5,391
Use of the provision	(1,507)	(1,906)	(2,580)
Translation differences	3,562	(876)	(3,918)
Balances at the end of year	31,703	26,826	24,929
Legal proceedings provision
Disclosure of other provisions [line items]
Balances at the beginning of the year	5,878	4,730	935
Accrual of the year	3,661	2,772	1,157
Use of the provision	(810)	(1,089)	(974)
Acquisition of subsidiary (Note 26)	0	0	4,117
Translation differences	196	(535)	(505)
Balances at the end of year	$ 8,925	$ 5,878	$ 4,730

Other liabilities (Detail Textu

Other liabilities (Detail Textuals) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)Installment	Dec. 31, 2017BRL (R$)Installment	Dec. 31, 2017BRL (R$)
Brasilia Airport Concession Agreement
Disclosure of financial liabilities [line items]
Fixed concession fee payable	$ 1,360,804		R$ 4501132
Numbe of annual installments	25	25
Annual fee payment percentage	2.00%	2.00%
Concession fee percentage	5.00%	5.00%
Brasilia Airport Concession Agreement | Inframerica Concessionaria do Aeroporto de Brasilia
Disclosure of financial liabilities [line items]
Percentage of prepaid concession fees	45.00%	45.00%
Prepaid concession fees	$ 36,000	R$ 118900
Natal Airport Concession Agreement
Disclosure of financial liabilities [line items]
Fixed concession fee payable	$ 2,056		R$ 6800
Natal Airport Concession Agreement | Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante
Disclosure of financial liabilities [line items]
Percentage of prepaid concession fees	100.00%	100.00%
Prepaid concession fees	$ 4,000	R$ 13100

Other liabilities (Detail Te133

Other liabilities (Detail Textuals 1) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)years	Dec. 31, 2016USD ($)years	Dec. 31, 2015USD ($)years
Disclosure of subsidiaries [line items]
Remeasurement of defined benefit obligation	$ 18	$ (307)	$ 334
Remeasurement of defined benefit obligation before taxes	26	403	475
Taxes relating to remeasurement of defined benefit obligation	$ 8	$ 96	$ 141
Toscana Aeroporti S.p.A.
Disclosure of subsidiaries [line items]
Annual discount rate	1.30%	1.31%	2.03%
Annual turnover rate	1.50%	1.50%	1.75%
Annual employee termination benefit increase rate	2.63%	2.63%	2.81%
Terminal Aeroportuaria Guayaquil S.A. ("TAGSA")
Disclosure of subsidiaries [line items]
Annual discount rate	4.02%	4.14%	4.36%
Annual turnover rate	11.10%	11.51%	13.49%
Annual employee termination benefit | years	6.61	5.63	5.01
Annual employee future wage increase	1.50%	3.00%	3.00%

Trade payables (Details)

Trade payables (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-current
Trade payables with related parties (Note 27)	$ 0	$ 0	$ 767
Trade payable with suppliers	3,302	1,663	1,329
Total non-current trade payables	3,302	1,663	2,096
Current
Trade payables with suppliers	122,145	104,914	116,711
Trade payables with related parties (Note 27)	5,667	8,625	4,445
Total current trade payables	$ 127,812	$ 113,539	$ 121,156

Equity (Details)

Equity (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
		Dec. 22, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2007
Disclosure of reserves within equity [line items]
Conversion (Note 1)						$ 1,500,000,000
Cash contributions			$ 6,600
Refund of cash contributions (Note 24a)			(28,893)
Contributions in shares		$ 1,506,867
Free Distributable Reserves
Disclosure of reserves within equity [line items]
Conversion (Note 1)			(1,499,980)
Cash contributions			6,600	$ 20,494	$ 8,303
Refund of cash contributions (Note 24a)			(28,893)	0	0
Contributions in shares	[1]		0	1,506,867	0
Contributions by assignment	[2]		0	49,960	320,798
Total distributable reserves			$ (1,522,273)	$ 1,577,321	$ 329,101
[1]	This corresponds to the fair value of the contribution of the shares of AIA, measured in accordance with Luxembourg laws and regulations.
[2]	This corresponds to the contribution of accounts receivable from related parties made by the Company's shareholder.

Equity (Details 1)

Equity (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016		Dec. 31, 2015
Disclosure of reserves within equity [line items]
At the beginning of the year		$ (1,344,022)	$ 248,677
Remeasurement of defined benefit obligations net for income tax		18	(307)		$ 334
At the end of the year		(1,344,008)	(1,344,022)		248,677
Other Reserves
Disclosure of reserves within equity [line items]
At the beginning of the year		(1,344,022)	248,677		1,178,534
Distribution in cash from AIA		0	(36,076)		(74,058)
Refund of contributions	[1]	0	0		(497,660)
Non-cash distribution from AIA	[2]	0	(49,960)	[1]	(298,764)	[1]
Cash contribution from AIA		0	496		0
Fair value adjustments	[3]	0	(1,506,867)	[1]	(59,719)
Remeasurement of defined benefit obligations net for income tax		14	(292)		344
At the end of the year		$ (1,344,008)	$ (1,344,022)		$ 248,677
[1]	This corresponds to reimbursement of previous contributions from the former shareholder.
[2]	This corresponds to distributions of dividends in kind from AIA to its former shareholder.
[3]	This corresponds to the fair value of the contribution in shares (see footnote 1 in note 24.a) above), as the subsidiaries contributed were retroactively combined in the combined financial statements as of December 31, 2016.

Equity (Details 2)

Equity (Details 2) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of analysis of other comprehensive income by item [line items]
Balances at January 1		$ (188,669)	$ (156,387)	$ 0
Continuing operations
Other comprehensive income (loss) for the year		(28,565)	(36,559)	(152,110)
Discontinued operations
Other comprehensive income (loss) for the year			4,277	(4,277)
For the year ended December 31,		(217,234)	(188,669)	(156,387)
Currency Translation Adjustment
Disclosure of analysis of other comprehensive income by item [line items]
Balances at January 1		(212,080)	(174,950)	0
Continuing operations
Other comprehensive income (loss) for the year		(29,011)	(37,414)	(112,455)
Discontinued operations
Other comprehensive income (loss) for the year			284	(62,495)
For the year ended December 31,		(241,091)	(212,080)	(174,950)
Remeasurement of defined benefit obligations
Disclosure of analysis of other comprehensive income by item [line items]
Balances at January 1	[1]	106	489	0
Continuing operations
Other comprehensive income (loss) for the year	[1]	17	(383)	489
Discontinued operations
Other comprehensive income (loss) for the year	[1]		0	0
For the year ended December 31,	[1]	123	106	489
Share of other comprehensive income from associate
Disclosure of analysis of other comprehensive income by item [line items]
Balances at January 1		(40,043)	(39,999)	0
Continuing operations
Other comprehensive income (loss) for the year		432	(44)	(39,999)
Discontinued operations
Other comprehensive income (loss) for the year			0	0
For the year ended December 31,		(39,611)	(40,043)	(39,999)
Income Tax effect
Disclosure of analysis of other comprehensive income by item [line items]
Balances at January 1	[1]	(54)	(145)	0
Continuing operations
Other comprehensive income (loss) for the year	[1]	(3)	91	(145)
Discontinued operations
Other comprehensive income (loss) for the year	[1]		0	0
For the year ended December 31,	[1]	(57)	(54)	(145)
Transfer from shareholders equity - currency translation differences
Disclosure of analysis of other comprehensive income by item [line items]
Balances at January 1		63,402	58,218	0
Continuing operations
Other comprehensive income (loss) for the year		0	1,191	0
Discontinued operations
Other comprehensive income (loss) for the year			3,993	58,218
For the year ended December 31,		$ 63,402	$ 63,402	$ 58,218
[1]	Income tax relating to OCI amounts to Remeasurement of defined benefit obligations. The movement was recognized as other comprehensive income of other reserves.

Equity (Details 3)

Equity (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of reserves within equity [line items]
At the beginning of the year	$ 354,174	$ 371,342
Other comprehensive loss
Currency translation	(25,585)	(48,563)	$ (166,597)
Remeasurement of defined benefit obligation	18	(307)	334
Comprehensive income, attributable to non-controlling interests	6,830	(16,874)	(44,351)
Changes in non-controlling interests
Changes in non-controlling interests (Note 24d)	(25,645)	(9,312)	63,884
Non-controlling interest at the end of the year	335,359	354,174	371,342
Non-controlling interests
Disclosure of reserves within equity [line items]
At the beginning of the year	354,174	371,342	351,809
Shareholder contributions	0	9,018	0
(Loss)/income for the year	3,400	(4,519)	9,801
Other comprehensive loss
Currency translation	3,426	(12,340)	(54,142)
Remeasurement of defined benefit obligation	9	(20)	(14)
Reserve for income tax	(5)	5	4
Comprehensive income, attributable to non-controlling interests	3,430	(12,355)	(54,152)
Changes in non-controlling interests
Business combinations	0	0	131,954
Discontinued operations	0	311	(66,656)
Changes in the participations	197	0	(1,414)
Dividends approved	(25,842)	(9,623)	0
Changes in non-controlling interests (Note 24d)	(25,645)	(9,312)	63,884
Non-controlling interest at the end of the year	$ 335,359	$ 354,174	$ 371,342

Contingencies, commitments a139

Contingencies, commitments and restrictions on the distribution of profits (Details) - Airport	1 Months Ended	12 Months Ended
	Feb. 28, 1998	Dec. 31, 2017
Schedule Of Commitment [Line Items]
Number of airports		52
Argentina | AA2000
Schedule Of Commitment [Line Items]
Number of airports	33	35	[1]
Concesssion agreement extension period	10 years	10 years
Argentina | NQN
Schedule Of Commitment [Line Items]
Number of airports		1
Concesssion agreement extension period		5 years
Argentina | BBL
Schedule Of Commitment [Line Items]
Number of airports		1
Concesssion agreement extension period		10 years
Italy | TA (SAT)
Schedule Of Commitment [Line Items]
Number of airports		1
Italy | TA (ADF)
Schedule Of Commitment [Line Items]
Number of airports		1
Brazil | ICASGA
Schedule Of Commitment [Line Items]
Number of airports		1
Concesssion agreement extension period		5 years
Brazil | ICAB
Schedule Of Commitment [Line Items]
Number of airports		1
Concesssion agreement extension period		5 years
Uruguay | Puerta del Sur
Schedule Of Commitment [Line Items]
Number of airports		1
Uruguay | CAISA
Schedule Of Commitment [Line Items]
Number of airports		1
Ecuador | TAGSA
Schedule Of Commitment [Line Items]
Number of airports		1
Ecuador | ECOGAL
Schedule Of Commitment [Line Items]
Number of airports		1
Armenia | AIA
Schedule Of Commitment [Line Items]
Number of airports		2
Concesssion agreement extension period, description		Option to renew every 5 years
Peru | AAP
Schedule Of Commitment [Line Items]
Number of airports		5
Concesssion agreement extension period, description		Extendable to 2071
[1]	Includes Termas de Rio Hondo Airport, which is operated by AA2000 but is pending government approval to be included in the AA2000 concession.

Contingencies, commitments a140

Contingencies, commitments and restrictions on the distribution of profits (Details 1) R$ in Millions, $ in Millions	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)
Natal Concession Agreement
Schedule Of Commitment [Line Items]
Percentage of amount of planned investments as investment trigger of concession agreement	10.00%	10.00%
Natal Concession Agreement | Phase I event
Schedule Of Commitment [Line Items]
Amount of the Performance Bond	$ 19.7	R$ 65.0
Natal Concession Agreement | From the formal commencement of Phase II until the end of the contract
Schedule Of Commitment [Line Items]
Amount of the Performance Bond	1.9	6.5
Natal Concession Agreement | Phase II event
Schedule Of Commitment [Line Items]
Current amount of performance bond	3.6	11.9
Brasilia Concession Agreement
Schedule Of Commitment [Line Items]
Current amount of performance bond	$ 56.9	R$ 188.5
Percentage of amount of planned investments as investment trigger of concession agreement	10.00%	10.00%
Performance bond upon termination of concession agreement	$ 5.8	R$ 19.1
Brasilia Concession Agreement | Phase I B Event
Schedule Of Commitment [Line Items]
Amount of the Performance Bond	80.6	266.7
Brasilia Concession Agreement | After completion of Phase I-B of the Natal Concession Agreement or at the termination of the contract
Schedule Of Commitment [Line Items]
Amount of the Performance Bond	$ 40.3	R$ 133.3

Contingencies, commitments a141

Contingencies, commitments and restrictions on the distribution of profits (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure For Contingencies Commitments And Restrictions On Distribution Of Profits [Abstract]
Share capital	$ 1,500,000	$ 20	$ 20
Legal reserves	2	2
Free distributable reserves	385,055	1,907,328	330,007
Retained earnings	138,034	74,543	40,786
Total equity in accordance with Luxembourg law	$ 1,916,263	$ 1,935,073	$ 386,415

Contingencies, commitments a142

Contingencies, commitments and restrictions on the distribution of profits (Detail Textuals) R$ in Thousands, $ in Millions, $ in Millions

1 Months Ended

12 Months Ended

Feb. 21, 2017USD ($)Installment

Nov. 30, 2015USD ($)Installment

Nov. 30, 2015ARS ($)Installment

Jun. 30, 2005

Dec. 31, 2014BRL (R$)ProceedingPayment

Dec. 31, 2013USD ($)ProceedingDirector

Dec. 31, 2012USD ($)

Dec. 31, 2010USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2017ARS ($)

Jun. 29, 2017USD ($)

Jun. 29, 2017BRL (R$)

Dec. 31, 2016USD ($)

Dec. 31, 2016BRL (R$)

Dec. 31, 2016ARS ($)

Dec. 29, 2015USD ($)

Dec. 29, 2015BRL (R$)

Aug. 31, 2011USD ($)

Aug. 31, 2011ARS ($)

Schedule Of Contingencies [Line Items]

Payments for extraordinary regime of regularization of tax obligations

$ 10.5

Number of monthly consecutive installments for payments of extraordinary regime | Installment

60

Insurance policy to guarantee injunction for compensation for environmental damages

$ 5.2

$ 97.4

Legal action to suspend payment of annual granting fees

$ 75

R$ 245700

Court deposit by defendant included in guarantee deposit

76

R$ 246800

Number of payments made identified | Payment

3

Amount of identified three total payments | R$

R$ 858

AA2000

Schedule Of Contingencies [Line Items]

Number of tax assessments proceedings inititated | Proceeding

3

3

Number of tax assessments proceedings inititated with respect to income tax deductions from services rendered by third parties | Proceeding

2

2

Legal proceedings, claim payments

$ 1

$ 18.4

Number of monthly consecutive installments for claim payments | Installment

36

36

Legal proceedings outstanding included in other taxes payable

$ 0.4

$ 6.6

Other taxes payable

$ 0.8

$ 12.7

Criminal proceeding against former director

Schedule Of Contingencies [Line Items]

Legal proceedings, number of defendant former director | Director

2

Administrative Proceeding For Economic Reequilibrium Of Infram rica Concession ria do Aeroporto de Brasilias Concession Agreement

Schedule Of Contingencies [Line Items]

Legal proceedings, claim amount

$ 253.1

R$ 758000

Legal proceedings, claim amount denied by Brazilian ANAC

120.2

454,100

Administrative Proceeding For Economic Reequilibrium Of ICABs Concession Agreement

Schedule Of Contingencies [Line Items]

Legal proceedings, claim amount

$ 240

R$ 737000

Administrative Proceeding For Economic Reequilibrium Of Inframerica Concession ria do Aeroporto de So Gonalo do Amarantes Concession Agreement

Schedule Of Contingencies [Line Items]

Legal proceedings, claim amount

263.1

1,000,000

Legal proceedings, claim amount denied by Brazilian ANAC

$ 251.7

R$ 956800

TAGSA legal proceedings

Schedule Of Contingencies [Line Items]

Period for administration and operation of duty free areas

20 years

Percentage of exemption from income tax for duty-free areas entitled to tax benefits

100.00%

Income tax charges including interests and penalties

$ 1.9

Income tax charges excluding interests and penalties

$ 2.5

$ 1.4

Contingencies, commitments a143

Contingencies, commitments and restrictions on the distribution of profits (Detail Textuals 1) $ in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2001	Feb. 28, 1998Airport	Dec. 31, 2017USD ($)Airport		Dec. 31, 2017ARS ($)Airport
Schedule Of Commitment [Line Items]
Number of airports | Airport			52		52
ARGENTINA | AA2000
Schedule Of Commitment [Line Items]
Number of airports | Airport		33	35	[1]	35	[1]
Initial term of concession agreement	20 years	30 years
Initial term of concession agreement extended	26 years
Concesssion agreement extension period		10 years	10 years		10 years
Percentage of entity's revenue			15.00%		15.00%
Percentage of previously deducted funds for deposit			30.00%		30.00%
Investment commitments | $					$ 2,158
Investments made under investment plan | $					$ 1,876.9
Percentage of investment planned as value of guarantee			50.00%		50.00%
Surety bond, value			$ 78.6		$ 1,465
Amount of concession contract fulfilment to whom guarantee sets up			$ 22		$ 410.5
ARGENTINA | AA2000 | Fund to trust for development of argentine national airport system
Schedule Of Commitment [Line Items]
Percentage of previously deducted funds for deposit			11.25%		11.25%
ARGENTINA | AA2000 | Fund to study control and regulate argentine concession
Schedule Of Commitment [Line Items]
Percentage of previously deducted funds for deposit			1.25%		1.25%
ARGENTINA | AA2000 | Fund to trust for investment commitments for group a airports
Schedule Of Commitment [Line Items]
Percentage of previously deducted funds for deposit			2.50%		2.50%
[1]	Includes Termas de Rio Hondo Airport, which is operated by AA2000 but is pending government approval to be included in the AA2000 concession.

Contingencies, commitments a144

Contingencies, commitments and restrictions on the distribution of profits (Detail Textuals 2) $ / shares in Units, $ in Thousands, $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2001	Feb. 28, 1998	Dec. 31, 2017USD ($)kilograms$ / Fees	Dec. 31, 2017ARS ($)shares	Dec. 31, 2016shares	Dec. 31, 2006$ / sharesshares
Schedule Of Commitment [Line Items]
Number of shares outstanding | shares				1,500,000,000
ARGENTINA | AA2000
Schedule Of Commitment [Line Items]
Minimum amount for civil liability insurance policy provision				$ 300
Clivil liability insurance premium paid			$ 500,000
Number of preferred shares convertible into common shares | shares						496,161,413
Nominal value of each convertible preferred share | $ / shares						$ 1
Percentage per year of total amount of initial preferred shares issued for maximum amount of conversion						12.50%
Percentage of nominal value of preferred shares as accrued annual dividend						2.00%
Initial term of concession agreement	20 years	30 years
Concesssion agreement extension period		10 years	10 years
ARGENTINA | AA2000 | Preference shares
Schedule Of Commitment [Line Items]
Number of shares outstanding | shares				616,914,353	604,817,993
ARGENTINA | NQN
Schedule Of Commitment [Line Items]
Concesssion agreement extension period			5 years
URUGUAY | Puerta del Sur
Schedule Of Commitment [Line Items]
Initial term of concession agreement			20 years
Concesssion agreement extension period			10 years
Annual fee required to pay government higher of stated amount as per first condition			$ 4,401
Annual fee required to pay government, number of work units required, as per second condition | kilograms			100
Annual fee required to pay government, per unit value required, as per second condition | $ / Fees			0.00405
Guarantee securing completion of construction work of new terminal			$ 2,300
Performance guarantee			$ 6,000
Period for performance guarantee returned after expiration of concession agreement			6 months
Minimum coverage amount			$ 250,000

Contingencies, commitments a145

Contingencies, commitments and restrictions on the distribution of profits (Detail Textuals 3) - ECUADOR $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
TAGSA
Schedule Of Commitment [Line Items]
Percentage of gross revenues from tariffs and charges as annual concession required to pay to trust	50.25%
Fixed amount required to pay per year for administrative services	$ 1,500
Performance guarantee	$ 3,000
Percentage of amount required to be paid to maintain performance bond	20.00%
Performance bond	$ 5,000
ECOGAL
Schedule Of Commitment [Line Items]
Performance bond	$ 700,000

Contingencies, commitments a146

Contingencies, commitments and restrictions on the distribution of profits (Detail Textuals 4) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)phases
Schedule Of Commitment [Line Items]
Percentage of amount of work execution program guaranteed in performance bond	10.00%
Period after construction stage for which performance guarantee to be fulfilled	3 months
Percentage of amount of annual investment plan guaranteed in performance bond for remaining period	20.00%
Renewal period after completion of execution of work	12 months
PERU | AAP
Schedule Of Commitment [Line Items]
Performance bond	$ 4.5
Period after Termination upto which renewal is allowed	2 years
AM | AIA
Schedule Of Commitment [Line Items]
Concesssion agreement, extension period	5 years
Number of phases of construction of new terminal | phases	3
Number of completed phases | phases	2
Exercise period for refusal of perfomance	30 days
Period during which master plan to be submitted to government	5 years
Extended period covered in the updated master plan	30 years
AM | AIA | 1 year or less
Schedule Of Commitment [Line Items]
Investment commitments	$ 8
AM | AIA | 1 to 5 years
Schedule Of Commitment [Line Items]
Investment commitments	75
AM | AIA | More than 5 years
Schedule Of Commitment [Line Items]
Investment commitments	$ 11

Contingencies, commitments a147

Contingencies, commitments and restrictions on the distribution of profits (Detail Textuals 5)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Natal Concession Agreement
Schedule Of Commitment [Line Items]
Initial term of concession agreement	25 years
Concesssion agreement extension period	5 years
Brasilia Concession Agreement
Schedule Of Commitment [Line Items]
Initial term of concession agreement		28 years
Concesssion agreement extension period		5 years
Period after termination of concession agreement for performance bond		24 months

Contingencies, commitments a148

Contingencies, commitments and restrictions on the distribution of profits (Detail Textuals 6) - ITALY - TA Concession Agreement € in Millions	12 Months Ended
	Dec. 31, 2017EUR (€)Passengerkilograms	Dec. 31, 2016EUR (€)
Schedule Of Commitment [Line Items]
Concesssion Agreement Extension Period	40 years
Number of passenger considered for each unit | Passenger	1
Volume of goods considered for each unit | kilograms	100
Surety provided to third parties | €	€ 6.3	€ 7
Period of conventions signed	40 years
Minimum percentage of net income to be allocated to legal Rreserve		5.00%
Legal reserve to be created as percentage of share capital		10.00%

Business combinations, other149

Business combinations, other acquisitions and investments (Details) $ in Thousands	Dec. 31, 2017USD ($)
Non-current assets
Intangible assets, net	$ 1,340,634
Property, plant and equipment, net	1,752
Deferred tax assets	43,265
Other receivables	26,242
Total non-current assets	1,411,893
Current assets [abstract]
Other financial assets	17,085
Other receivables	13,320
Trade receivables	13,851
Cash and cash equivalents	15,518
Total current assets	59,774
Total assets	1,471,667
Net identifiable assets acquired	56,906
Non-controlling interest	132,202
Non-current liabilities
Borrowings	316,451
Other liabilities	842,526
Total non-current liabilities	1,158,977
Current liabilities
Borrowings	16,525
Other liabilities	79,755
Trade payables	27,302
Total current liabilities	123,582
Total liabilities	1,282,559
Total equity and liabilities	$ 1,471,667

Business combinations, other150

Business combinations, other acquisitions and investments (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2015
Disclosure of detailed information about business combination [line items]
Total purchase price		$ 55,000
Fair value of net assets acquired		189,000
Fair value of concession assets acquired		1,340,634
Goodwill recognized at acquisition		$ 51,000
Infram rica Concessionaria do Aeroporto do Brasilia S.A. ("ICAB")
Disclosure of detailed information about business combination [line items]
Aquired owmership interest percentage			51.00%
Aci Airports International S.a R.L. | Inframerica Participacoes S.A.
Disclosure of detailed information about business combination [line items]
Aquired owmership interest percentage			43.05%
Aci Airports International S.a R.L. | Icasga
Disclosure of detailed information about business combination [line items]
Aquired owmership interest percentage			49.95%
Percentage of voting rights	99.96%
Aci Airports International S.a R.L. | Infram rica Concessionaria do Aeroporto do Brasilia S.A. ("ICAB")
Disclosure of detailed information about business combination [line items]
Aquired owmership interest percentage	50.98%

Business combinations, other151

Business combinations, other acquisitions and investments (Detail Textuals 1) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Disclosure of detailed information about business combination [abstract]
Consolidated pro-forma revenue	$ 1,299,000
Consolidated pro-forma profit and loss	18,000
Interest in both acquired entities re-measured at fair value at acquisition date	$ 11,504

Related party balances and t152

Related party balances and transactions (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [line items]
Total Arising from sales / purchases of goods / other		$ 14,414	$ 9,653	$ 41,446
Financial debt
Total financial debt		(34,651)	(22,220)	(618)
Other liabilities
Total Other liabilities		(34,948)	(31,969)	(29,764)
Associates
Disclosure of transactions between related parties [line items]
Trade Receivables		0	229	0
Other Receivables		5,555	0	3,827
Other Financial Assets		0	7,769	11,530
Other related parties
Disclosure of transactions between related parties [line items]
Trade Receivables		1,130	1,255	5,423
Other Receivables		9,775	9,025	14,060
Other Financial Assets		3,621	0	11,818
Trade Payables		(5,667)	(8,625)	(5,212)
Financial debt
Borrowings owed to other related parties	[1]	(34,651)	(22,220)	(618)
Other liabilities
Other liabilities - other related parties		$ (34,948)	$ (31,969)	$ (29,764)
[1]	Loans with related parties are secured by cash collateral by a company controlled by the Group of the Shareholder and were paid on February 8, 2018, see Note 31 "Indebtedness".

Related party balances and t153

Related party balances and transactions (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related party transactions [abstract]
Cash contribution and contributions in kind	$ 6,600	$ 1,577,321	$ 329,101
Refund of shareholder contributions	(28,893)	0	0
Commercial revenue	6,790	4,067	5,967
Fees	886	473	(1,818)
Interest accruals	(3,159)	(824)	2,468
Acquisition of goods and services	(13,950)	(10,270)	(8,171)
Others	$ (900)	$ 200	$ 0

Related party balances and t154

Related party balances and transactions (Detail Textuals)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Key management personnel of entity or parent
Disclosure of transactions between related parties [line items]
Percentage of director remuneration	2.60%	3.40%	2.60%

Cash flow disclosures (Details)

Cash flow disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Cash Flow Statement [Abstract]
Other receivables and credits	$ (78,303)	$ (97,038)	$ (64,221)
Inventories	(909)	987	4,385
Other liabilities	(171,741)	(57,779)	(111,250)
Changes in working capital	$ (250,953)	$ (153,830)	$ (171,086)

Cash flow disclosures (Details

Cash flow disclosures (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Cash Flow Statement [Abstract]
Intangible assets acquisition with an increase in Borrowings/Other liabilities		$ (1,591)	$ (3,260)	$ 0
Dividends not paid		(2,007)	0	0
Property, plant and equipment acquisitions with an increase in Other liabilities		(9)	0	0
Borrowings cost capitalization		(9,301)	0	0
Contribution in kind in associates		(17,950)	0	0
Decrease in Intangible with an decrease in Other liabilities (Note 22)		(84,075)	0	0
Assignment of credits		(4,744)	0	0
Payment of Commitments to the grantor with a decrease in Other receivables and credits		64,284	0	0
Contributions in kind	[1]	0	1,556,827	320,798
Dividends distribution	[1]	0	(49,960)	(298,764)
Refund of contributions	[1]	0	0	(497,660)
Loans repayment - assignment of credits	[2]	0	0	(74,477)
Spin-off of assets and liabilities	[3]	0	0	(62,539)
Disposals of subsidiaries/associates	[4]	$ 0	$ 0	$ 322,960
[1]	See note 24.
[2]	This corresponds to a settlement of a loan by assignment of credits to the borrowers.
[3]	This corresponds to assets and liabilities transferred outside the Group through spin-off of equity.
[4]	This includes other receivables from disposals of discontinued operations (see note 28) and other receivables from disposals of associates which was contributed in the year 2016 in the free distributable reserve of the Company (see note 24).

Cash flow disclosures (Detai157

Cash flow disclosures (Details 2) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Values at the beginning of the year	$ 1,107,241
Cash flows	237,210
Foreign exchange adjustments	20,439
Other non-cash movements	121,555
Balances as of December 31, 2017	1,486,445
Bank and financial borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Values at the beginning of the year	604,102
Cash flows	99,725
Foreign exchange adjustments	6,117
Other non-cash movements	55,386
Balances as of December 31, 2017	765,330
Notes
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Values at the beginning of the year	475,639
Cash flows	129,491
Foreign exchange adjustments	14,686
Other non-cash movements	62,599
Balances as of December 31, 2017	682,415
Loans with related parties
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Values at the beginning of the year	22,220
Cash flows	10,525
Foreign exchange adjustments	(82)
Other non-cash movements	1,988
Balances as of December 31, 2017	34,651
Others
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Values at the beginning of the year	5,280
Cash flows	(2,531)
Foreign exchange adjustments	(282)
Other non-cash movements	1,582
Balances as of December 31, 2017	$ 4,049

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Discontinued Operations [Line Items]
Revenue	$ 1,575,153	$ 1,366,336	$ 1,187,090
Cost of services	1,029,983	859,074	759,155
Gross profit	545,170	507,262	427,935
Selling, general and administrative expenses	194,201	170,852	167,219
(Loss)/ income on disposal of discontinued operations		(9,478)	108,987
Other operating expenses	4,838	4,903	2,667
Operating (loss)/ income	369,149	331,813	273,622
Financial result, net	(239,492)	(235,430)	(153,032)
Share of income or loss in associates	(15,841)	(1,306)	(69,317)
(Loss)/ income before income tax	113,816	95,077	51,273
Income tax	(46,925)	(56,359)	(44,969)
(Loss) / Income from discontinued operations		(9,478)	108,987
Currency translation adjustment	(25,585)	(48,563)	(166,597)
Total comprehensive income /(loss) for the year	41,756	(15,397)	(95,248)
Discontinued operations
Disclosure Of Discontinued Operations [Line Items]
Revenue	0	5	261,686
Cost of services	0	(92)	(203,230)
Gross profit	0	(87)	58,456
Selling, general and administrative expenses	0	(796)	(7,314)
(Loss)/ income on disposal of discontinued operations	0	(8,916)	92,167
Other operating expenses	0	(228)	(5,591)
Operating (loss)/ income	0	(10,027)	137,718
Financial result, net	0	548	(19,809)
(Loss)/ income before equity in earnings of associates and income tax	0	(9,479)	117,909
Share of income or loss in associates	0	62	(10,806)
(Loss)/ income before income tax	0	(9,417)	107,103
Income tax	0	(61)	1,884
(Loss) / Income from discontinued operations	0	(9,478)	108,987
Currency translation adjustment	0	4,277	(4,277)
Total comprehensive income /(loss) for the year	$ 0	$ (5,201)	$ 104,710

Discontinued Operations (Det159

Discontinued Operations (Details 1) - Discontinued operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Discontinued Operations [Line Items]
(Decrease)/ Increase in cash	$ 0	$ (7,655)	$ 15,227
Used in operating activities	0	(8,155)	(41,969)
Provided by/(used in) investing activities	0	500	(139,531)
Provided by financing activities	$ 0	$ 0	$ 196,727

Discontinued Operations (Det160

Discontinued Operations (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Discontinued Operations [Line Items]
Non-current assets	$ 3,221,736	$ 3,120,151	$ 2,876,905
Current assets	579,478	507,125	394,722
Total assets	3,801,214	3,627,276	3,271,627
Non-current liabilities	2,272,050	2,161,176	1,955,490
Current liabilities	732,022	662,776	482,036
Total liabilities	3,004,072	2,823,952	2,437,526
Total attributable to owners of the parent	461,783	449,150	462,759
Non-controlling interests	335,359	354,174	371,342
Total equity and liabilities	3,801,214	3,627,276	3,271,627
Discontinued operations
Disclosure Of Discontinued Operations [Line Items]
Non-current assets	0	13,721	460,499
Current assets	0	38,997	228,663
Total assets	0	52,718	689,162
Non-current liabilities	0	6,552	279,662
Current liabilities	0	30,551	157,315
Total liabilities	0	37,103	436,977
Total attributable to owners of the parent	0	15,304	185,529
Non-controlling interests	0	311	66,656
Total equity and liabilities	$ 0	$ 52,718	$ 689,162

Discontinued Operations (Det161

Discontinued Operations (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Discontinued Operations [Line Items]
(Loss)/Income from discontinued operations		$ (9,478)	$ 108,987
Net cash inflow on disposal of discontinued operations (Note 29)		10,381	34,033
Net cash used in discontinued investing activities		(8,093)	(183,561)
Discontinued operations
Disclosure Of Discontinued Operations [Line Items]
Net identifiable assets disposed	$ 0	15,304	156,716
Spin-off of net assets	0	0	28,813
Transfer from shareholders equity currency translation differences	0	3,993	58,150
(Loss)/Income from discontinued operations	0	(8,916)	92,167
Other receivables from disposals	0	0	273,000
Net cash inflow on disposal of discontinued operations (Note 29)	0	10,381	34,033
Less: Cash and cash equivalents in subsidiaries disposed	0	(8,593)	(44,030)
Net cash provided by/(used in) investing activities	0	500	(139,531)
Net cash used in discontinued investing activities	$ 0	$ (8,093)	$ (183,561)

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Basic earnings per share [abstract]
Income/ (loss) attributable to equity holders of the Group	$ 63,491	$ 43,236	$ (11,039)
Weighted average number of ordinary shares (thousands) (in shares)	148,118	148,118	148,118
Basic income/(loss) per share of continuing operations	$ 0.43	$ 0.29	$ (0.07)
(Loss)/ income of discontinued operations attributable to equity holders of the Group	$ 0	$ (9,477)	$ 116,529
Weighted average number of shares (thousands)	148,118	148,118	148,118
Basic (loss)/ income per share of discontinued operations	$ 0	$ (0.06)	$ 0.79
Income attributable to equity holders of the Group	$ 63,491	$ 33,759	$ 105,490
Weighted average number of shares (thousands)	148,118	148,118	148,118
Basic income per share of continuing and discontinued operations	$ 0.43	$ 0.23	$ 0.71

Earnings per share (Detail Text

Earnings per share (Detail Textuals) - $ / shares	1 Months Ended
	Jan. 19, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings per share [line items]
Number of shares outstanding		1,500,000,000
Nominal value of each common share		$ 1	$ 1	$ 1
Initial Public Offering
Earnings per share [line items]
Number of shares outstanding	148,117,500
Reverse stock split ratio	1-to-10.12709504
Nominal value of each common share	$ 1

Subsequent events (Detail Textu

Subsequent events (Detail Textuals) € in Millions, R$ in Millions

Mar. 14, 2018USD ($)

Mar. 14, 2018BRL (R$)

Mar. 08, 2018USD ($)

Feb. 08, 2018USD ($)

Feb. 07, 2018USD ($)

Jan. 08, 2018USD ($)

Mar. 14, 2018BRL (R$)

Jan. 08, 2018EUR (€)

Dec. 31, 2017USD ($)

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Jan. 01, 2015USD ($)

Disclosure of non-adjusting events after reporting period [line items]

Aggregate principal amount of notes issued

$ 1,486,445,000

$ 1,107,241,000

$ 1,087,566,000

$ 765,184,000

Indebtedness | Banco Santander Bridge and Citibank

Disclosure of non-adjusting events after reporting period [line items]

Repaid outstanding amount of Debt

$ 106,600,000

R$ 348

Guarantee deposit released

92,900,000

Indebtedness | Secured notes due 2024 (the "Italian Notes") | DICASA Spain S.A.

Disclosure of non-adjusting events after reporting period [line items]

Notes pledged by percentage of share capital

100.00%

Indebtedness | Secured notes due 2024 (the "Italian Notes") | CAI S.A.

Disclosure of non-adjusting events after reporting period [line items]

Aggregate principal amount of notes issued

$ 71,800,000

€ 60

Percentage of interest rate on secured notes

4.556%

4.556%

Maturity date of Notes

December 31, 2024

Notes pledged by percentage of share capital

100.00%

Indebtedness | Secured Notes 6.250 Percent Due 2019 | CAI S.A.

Disclosure of non-adjusting events after reporting period [line items]

Percentage of interest rate on secured notes

6.25%

6.25%

Indebtedness | Goldman Sachs

Disclosure of non-adjusting events after reporting period [line items]

Repaid outstanding amount of Debt

$ 126,690,800

Indebtedness | Converse Bank

Disclosure of non-adjusting events after reporting period [line items]

Repaid outstanding amount of Debt

$ 126,690,800

Indebtedness | Orotun S A And Julius Baer Co Ltd

Disclosure of non-adjusting events after reporting period [line items]

Repaid outstanding amount of Debt

$ 126,690,800

Indebtedness | Inframerica Concessionaria do Aeroporto de Brasilia | Credit Facility Agreement With BNDES

Disclosure of non-adjusting events after reporting period [line items]

Aggregate principal amount of notes issued

$ 91,900,000

R$ 300

Percentage of interest due allowed for capitalization

50.00%

50.00%

Interest Capitalization period for interest due

2 years

2 years

Subsequent events (Detail Te165

Subsequent events (Detail Textuals 1) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Jan. 19, 2018	Feb. 02, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of non-adjusting events after reporting period [line items]
Number of shares outstanding			1,500,000,000
Par value per share			$ 1	$ 1	$ 1
Share capital increased			$ 1,500,000	$ 20	$ 20
Initial Public Offering
Disclosure of non-adjusting events after reporting period [line items]
Stock Split Conversion Ratio	1-to-10.12709504
Number of shares outstanding	148,117,500
Par value per share	$ 1
Common shares offering under Initial Public Offering		11,904,762
Number of common shares fully subscribed		16,666,667
Share capital increased		$ 160,022,262
Initial public offering price per common share		$ 17

Subsequent events (Detail Te166

Subsequent events (Detail Textuals 2) € / shares in Units, R$ in Millions, $ in Millions	Mar. 14, 2018USD ($)	Mar. 14, 2018BRL (R$)	Feb. 21, 2018USD ($)	Feb. 21, 2018BRL (R$)	Feb. 19, 2018EUR (€)€ / shares	Dec. 31, 2017USD ($)
Disclosure of non-adjusting events after reporting period [line items]
Total purchase price | $						$ 55
Additional Acquisitions And Contributions In Subsidiaries | CAI | Toscana Aeroporti S.p.A
Disclosure of non-adjusting events after reporting period [line items]
Percentage of additional share capital purchased					4.568%
Purchase price per share | € / shares					€ 15.8
Total purchase price | €					€ 13,433
Percentage of share capital owned post acquisition					55.698%
Additional Acquisitions And Contributions In Subsidiaries | Inframerica Participacoes
Disclosure of non-adjusting events after reporting period [line items]
Cash contribution approved	$ 82.9	R$ 270.0	$ 46	R$ 148.3