aena

Aena Signs New Loans (1.075 billion euros); Achieves A Cash Position That Allows It To Cover 1 Year Of Costs

AENA has signed new loans with various financial institutions for a total of 1.075Bn euros. The loans have a maturity of between 1 and 4 years and will boost the firm’s liquidity to 2.425Bn euros (from 1.350Bn previously). AENA also has the possibility of increasing it further with the Euro Commercial Paper (ECP) programme up to 900Mn euros, of which 495Mn are still available. Furthermore, the company expects to close additional loans in the coming weeks.


Aena’s Passenger Traffic Drops 97% In Last Few Days

The number of Aena passengers has fallen by 45.5% so far in March, although it has accelerated to -97% in recent days. Therefore, its traffic forecasts for 2020 are no longer valid (+1.9%). To cushion the impact, Aena has reorganised the activity of its airports with the aim of temporarily reducing costs by approximately 43M euros per month.


Aena’s capacity for next winter would grow 0.5%

Spanish airport operator Aena expects an increase in capacity of + 0.5% for this winter, which represents a significant slowdown compared to the 19% summer traffic growth of + 4%, as well as the + 6% winter growth of 2018-19.





TCI sells 0.8% of AENA

Banc Sabadell | The regulator has announced that TCI will make an accelerated sale of 0.8% of AENA at an estimated price (according to Bloomberg) of 159.53 Euros/share (-2.2%).

 


Heathrow, Model For EU Airports

Santander | The growth in passenger numbers registered at Zurich in November (6.0 % vs. 6.0% est), Aena (6.9% vs 6.5% est) and ADP (5.4% vs 4.8% est) was more or less in line with our estimations, while the traffic in Fraport (4.7% vs 6.5% est) and Heathrow (3.3% vs 0.2%) remained below.