Intermoney | Aena (Hold, PO€170) announced yesterday, after the market close, an upgrade of its guidance traffic growth in Spain for 2024, which it now forecasts to be +8.3% compared to 2023, compared to its previous estimate of between +3.8 and +7.1%, published last March. This guidance would imply traffic for this year of around 307 million passengers, or +11% over the pre-pandemic 2019 figure. Assessment: The increase in traffic…
Banc Sabadell: According to the press, IATA is claiming in the Supreme Court that the Covid expenses be subtracted from the basis for calculating fares and that the increase approved this year (4%) by the Council of Ministers be annulled. The amount would be €1,000 million for the period 2023-2025 (6% capitalisation of Aena), given that the airlines estimate that fares should be 12% lower than they are now. Aena…
Intermoney | Aena released the traffic data for May on Wednesday, with the market open. Both the cumulative and the rolling month figures were up +11% year-on-year to almost 115m passengers so far in 2024, implying a +14% growth compared to pre-pandemic levels. All the relevant airports reported increases, although the difference between, on the one hand, Madrid Barajas and Barcelona El Prat, with increases in May of 7-9%, and,…
Norbolsa | Aena (AENA) is interested in acquiring the UK airports of Aberdeen, Glasgow and Southampton owned by Ferrovial and the Macquarie fund, which are looking to sell 100% of their stakes for around €1,000 million.The deal fits in with Aena’s strategic plan to expand its business outside Spain, as well as Ferrovial’s strategy as it continues to seek an exit from UK airports.
Intermoney | The Justice ministry has ordered the Directorate General of Civil Aviation (DGAV) to re-examine the claim that Aena (Maintain, PO €170) presented at the time on account of the costs caused by the pandemic in 2020 and 2021, according to Cinco Días. In December 2021, the DGAV denied any compensation to the operator, although now the Supreme Court has ruled that the administration should hear its arguments again,…
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…
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…
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…
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…
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…