aena

aena barajas3CM

Aena say IAG’s takeover of Air Europa would strengthen Barajas hub and Spanish economy

Link Securities| The president of Aena, Maurici Lucena, has defended the increase in airport taxes by 4.09% from 1 March despite obtaining record profits in 2023, which he has justified, in part, by the “efficiency” in its operations, the newspaper Expansión published yesterday. He argued his position because it complies with the law that regulates Aena and, secondly, out of respect for Aena’s shareholders. In addition, Lucena has expressed his…


aena barajas3CM

Aena’s airports register all-time record number of passengers in a single month of January

CdM| The airports of the Aena (AENA) network in Spain have closed the first month of 2024 with an all-time record number of passengers and cargo in a single month of January, thus maintaining the upward trend of much of last year. In January 2024, Aena received 18,667,212 passengers, 10.3% more than in the same month of 2023; it handled 165,909 aircraft movements, 6% more than in 2023; and 91,752…


Ferrovial

Spanish airport traffic grows 16.2% in 2023 to 283.2 million passengers, exceeding 2019 traffic by 2.9%

Renta 4 | Passenger traffic figures for 2023 have shown an excellent performance, mainly in the last quarter of the year, when they have comfortably exceeded the figures reached before the pandemic. The rest of the year the figures were slightly above 2019 (the exception was June where they were slightly below the pre-pandemic traffic). Overall, there was a growth of +16.2% compared to 2022, reaching a 2.9% higher traffic…


Aena nuevita

Aena considers buying Edinburgh Airport for nearly €3 billion

Bankinter | Aena (AENA) is analysing the purchase of Edinburgh Airport for nearly €3 billion. Aena is looking into the possibility of participating in the sale of Edinburgh airport, 80.9% owned by Global Infrastructure Partners (GIP), which has hired HSBC and JPMorgan for a transaction that should be carried out during the first half of this year. GIP aims to raise around £2.5 billion (€2.9 billion). Assessment: This potential acquisition…


Aena

Aena’s November traffic up 8% compared to pre-pandemic; company could achieve 2023 Ebitda of €2,800m

Intermoney| Aena (AENA) (Hold, €150/share) announced on Tuesday, with the market open, the passenger and freight traffic figures for the month of November. Over the entire month, the number of passengers, 19.7 million, represented an increase of almost 8% compared to the same period in 2019. On this occasion, both Barajas and El Prat returned to growth compared to pre-pandemic, with increases of 1% and 4%, respectively. Malaga, Spain’s third…


Luton

Aena gets go-ahead to expand Luton’s capacity to 19M passengers

Luton, the London airport in which AENA has a 51% stake, has received authorisation from the British Department for Transport and the Department for Communities to increase its capacity to 19 million passengers per year, compared to the current limit of 18 million. This expansion does not require any new construction or investment. Assessment: Good news for Aena, which will allow it to increase Luton’s capacity by 5% without the…


aena airport

Aena passenger traffic to September remains above pre-pandemic levels

Intermoney | Aena (AENA) (Hold, Target Price €150/share) released last Friday, with the market open, the Spanish passenger traffic data for September. Some 27.5 million passengers transited through Aena’s airports last month, +1.5% above 2019 levels. The dichotomy was again observed between Madrid and Barcelona on the one hand, which remain below pre-pandemic levels, -3% and -10%, respectively, and the rest, which exceed this threshold, highlighting Valencia (+20%) and Malaga…


Luton

Operations temporarily suspended at AENA-run London Luton after massive car park blaze

Banco Sabadell: Luton Airport (about 4% of AENA’s EBITDA) suffered a fire early on Thursday morning in the Terminal 2 car park, which forced it to suspend all flights until the situation is under control. Assessment: Negative news, but with a very limited impact insofar as Luton’s weight in AENA is not significant, moreover, at a time of year when activity is lower. It would be normal for flights to…


aena airport

Aena debuts in debt market with €500m seven-year bond issue

Link Securities | Aena (AENA) made its debut in the debt market on Friday with a seven-year issue of €500 million on 9 October 2023. The bond issuance programme (EMTN) will help Aena to amortise its debt, as part of its strategy to reduce the cost of its liabilities, especially after the increase in the average rate it has paid in half a year, from 1.04% to 1.99%. It will…


Aena nuevita

Aena traffic grows 1.4% in August compared to pre-pandemic levels

Intermoney | Aena (Hold, Target Price €150/share) released traffic figures for August 2023 on Tuesday, which showed a +1.4% increase over pre-pandemic (2019) levels. Recent trends continued last month, with both Barajas and El Prat still below 2019, specifically -4% and -8%, respectively. These declines were more than offset by significant growth at tourist airports, such as Malaga (+10%) or Lanzarote (+10%). Other relevant increases were in Valencia (+17%) and…