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 need for new investment. However, it should have a moderate impact on the share price (+0.2% approximately), given that Luton represents less than 3% of Aena’s total valuation. The Neutral recommendation with a target price of €155.1/share, which implies a potential upside of +10%, is maintained.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.