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Record passenger traffic lifts Spanish airport operator Aena’s profit
Global Banking & Finance Review®
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MADRID (Reuters) – Spanish airport operator Aena said on Wednesday its net profit in the first nine months of the year rose 27% from the same period
MADRID (Reuters) – Spanish airport operator Aena said on Wednesday its net profit in the first nine months of the year rose 27% from the same period last year as the post-pandemic travel boom pushed passenger traffic to new records.
Aena booked a net profit of 1.44 billion euros ($1.56 billion) out of revenues rising 16% to 4.39 billion euros. The revenue and profit data were in line with forecasts from analysts polled by LSEG, who expected 4.4 billion euros in revenues and 1.46 billion euros in net profit during the January to September period.
The company reported a record 283 million passengers across its terminals in Spain, Latin America and Britain in the period.
Airlines that use Aena’s airports in Spain expect traffic to continue to grow in the winter season and believe it can break last year’s all-time record of passengers.
Southern European airports will outperform their northern counterparts by traffic volume this year, according to analysts consensus, with southern terminals receiving more leisure travellers while northern destinations, which focus on business passengers, will be less busy.
Aena’s commercial revenues grew 16% in the period, while the flight-related business incomes rose 15%. The sales at duty-free shops and special services for passengers rose 12%, the company said.
($1 = 0.9242 euros)
(Reporting by Corina Pons; editing by Charlie Devereux and Inti Landauro)
Net profit is the amount of money a company earns after all expenses, taxes, and costs have been deducted from total revenue. It is a key indicator of a company's profitability.
Passenger traffic refers to the number of individuals traveling through a transportation system, such as an airport. It is often used to measure the volume of travel and the performance of airlines and airports.
Commercial revenues are the income generated from business activities outside of core operations, such as sales from retail shops, advertising, and other ancillary services offered by a company.
Revenue growth is the increase in a company's sales over a specific period, typically expressed as a percentage. It indicates how well a company is expanding its business and attracting customers.
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