Aena: Caution facing risk/catalyst factors in short/medium term
Ángel Pérez Llamazares (Renta 4) | Caution due to risk factors/ catalysts in short medium term. We raise Aena’s stock O.P. to 150.3 euros.
aena
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.
Aena Foresees More Costs And Less Profit Than Expected In Its First Strategic Plan
For the first time in its history AENA has published its strategic plan and set out its forecasts for its results for the next two years. In the plan, three pillars mark the direction of the group in this period: commercial income, construction and foreign growth.
Aena Embarks On A New Business: It Will Sell 2000 Hectares Of Land Around Its Airports
The Public Works Ministry has approved a plan to optimise the value of 2000 hectares of land around Aena’s airports. The sale of these lands should provide substantial capital gains and/or rental revenues in a favourable real estate cycle.
Airlines Raise Seating Capacity To Spain This Summer By 8.7%
Aena has said that the airlines have increased their seating capacity in planes heading for Spanish airports this summer to 204,7 million, a rise of 8.7% from a year ago.
No dilemma in AENA: between competitiveness and making money, the government picks the latter
They say that governing is all about choosing (between what is bad and what is worse) and this government is once again facing a difficult decision: whether to lower AENA’s airport tariffs, thus benefiting Spain’s tourism industry which generates the most jobs, or do their own thing and make money. I say this because, obviously, the best way of making money is not to lower the tariffs AENA charges the airlines.
Is Rajoy taking advantage of the caretaker government situation?
Up to what point is the lack of a government affecting Spain and its government? Spain’s Stock Market Regulator (the CNMV) now has no visible head. And the number of public sector jobs cannot be increased, nor AENA’s air fares. But perhaps this is due to other reasons which could have equally existed in a normal political situation.
AENA’s Dividend Seen 6-10 p.c Higher Than Forecasts On Strong 2015 Profit
BARCLAYS | Spanish airport operator AENA, the world’s largest by number of passengers, has reported a strong end to 2015 driven by a combination of strong passenger growth, tight control of opex and lower-than-expected financing charges. Aena’s IPO in 2015 was Spain’s biggest since the financial crisis.
Aena IPO likely to lead sentiment for Spanish markets
MADRID | Sean Duffy | The sale of 49% of Spanish airport group will be in focus from 12 onwards today.