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…

Banco Sabadell | The National Commission for Markets and Competition (CNMC) has rejected Aena’s proposal to raise airport charges by about 0.5% in 2025, admitting that the claims of some airlines were justified. It argues that Aena was too conservative in forecasting traffic, which has in fact gone up twice during the year. Assessment: Negative news with limited impact. We already included this increase in our estimates and P.O. although…

Intermoney | Aena (Buy, PO €205) yesterday announced its monthly traffic data for October. Passenger numbers in Spain rose 6% year-on-year last month to 28.2 million. Both Barajas and El Prat grew by more than 5%, a figure that was not out of line with the rest of the relevant airports, outperforming for example Valencia (up 4%) and Ibiza (down 1%). The national total in October was 14% higher than…

Intermoney | Aena (Buy, PO €215) has announced its 9m 24 results, and will hold a conference call today at 1pm. The figures, along with our estimates, are shown in the attached table. Based on September traffic levels that were well above pre-pandemic records (107% in Spain), Aena generated 9m EBITDA of €2,663m, or 125% of the 2019 figure, slightly above IMVe (€2,646m). We confirm our estimates, which we clearly…

Intermoney | Aena (Buy, PO €205) announced on Monday its monthly traffic data for September. During last month the number of passengers in Spain rose year-on-year by 8% to 29.6 million. Both Barajas and El Prat grew by close to 10%, a figure that was not out of line with the rest of the relevant airports, outperforming for example Palma (up 5%) and Ibiza (0%). The national total in September…