Bankinter: Aena’s airports registered 21.6 million passengers in November, which is up 9.2% compared to November 2023. It accumulates an increase of 9.4% so far this year (vs. 9.4% previously).
Analysis team’s opinion: Good news for Aena. Airport traffic continues to break historical records month after month and will most likely end the year slightly above our estimates (306M passengers; up 8% on 2023 figures). However, the good prospects are already discounted in the share price, which far exceeds our target price (€181.4/share). We maintain our Sell recommendation.
