Spanish airport group Aena expects slowdown in passenger traffic

MADRID, Feb 25 (Reuters) - Airport operator Aena expects the number of passengers travelling through its airports in Spain to rise more slowly this year, it said on Wednesday, as the post-pandemic tourism boom in the world's second most visited country lost momentum.

The operator forecast passenger traffic growth of 1.3% in 2026 compared with last year's 3.9% increase. Aena's shares fell by 2.1% to 26.87 euros a share in early trading after its forecast fell short of analyst expectations.

Renta4 analysts had predicted traffic would grow by 3% and the consensus was 2.6%, according to a note.

Aena's full-year net profit rose 10.5% in 2025, however, beating analysts' expectations after the number of passengers travelling through all its terminals across the world surpassed one million per day.

Analysts in an LSEG survey had on average forecast a net profit of 2 billion euros.

Aena said it will propose a gross dividend of 1.09 euros per share, an 11.7% increase on 2024.

OUTCRY AFTER IT PROPOSED HIGHER FEES

Aena has caused outcry among business groups and carriers by proposing raising the passenger fees it charges airlines to help fund investments in its airports of 13 billion euros. Its 2027 proposal is subject to approval by Spanish authorities following approval for a 6.5% hike this year.

In response Ryanair, cut passenger capacity in Spain for the winter by 1 million seats. The airline with the highest number of passengers in Spain, the world's most visited country after France, still registered a 4% increase in traffic last year, according to Aena figures.

Industry body the European Travel Commission has said factors slowing down tourism will include reduced American travel to Europe in 2026, reflecting concerns about a worsening economy and geopolitical instability.

($1 = 0.8472 euros)

(Reporting by Corina Pons; Editing by Charlie Devereux, David Latona and Barbara Lewis)