Finance
Spanish Airport Group Aena Expects Slowdown in Passenger Traffic
Published by Global Banking & Finance Review®
Posted on February 25, 2026
2 min readLast updated: April 2, 2026
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Quick Summary
Spanish airport operator Aena posted 2025 net profit of €2.13bn, up 10.5% and above LSEG’s €2.0bn consensus. Record traffic of 321.6m in Spain and 384.8m groupwide—over one million daily—powered the beat.
Aena Foresees Slower Growth in Spanish Airport 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.
Passenger Traffic Growth Projections
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.
Financial Performance and Dividends
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.
Industry Reactions to Fee Increases
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)
Key Takeaways
- •Aena's net profit rose 10.5% in 2025 to €2.13bn, surpassing LSEG's €2.0bn forecast.
- •Traffic at Spanish airports reached 321.6m passengers, a third straight annual record.
- •Groupwide passengers totaled 384.8m in 2025, averaging over one million per day.
- •Robust tourism demand and capacity gains underpinned the earnings beat.
- •Momentum supports Aena’s 2026 outlook and ongoing investment plans.
References
Frequently Asked Questions about Spanish airport group Aena expects slowdown in passenger traffic
1What is the main topic?
Aena’s 2025 financial results, highlighting a 10.5% rise in net profit to €2.13bn, driven by record passenger traffic and outperforming analyst expectations.
2How many passengers did Aena handle in 2025?
Aena’s Spanish airports handled 321.6 million passengers, a third consecutive record. Groupwide, traffic reached 384.8 million, averaging over one million per day.
3Did Aena beat analyst forecasts?
Yes. Net profit of €2.13bn exceeded the LSEG analyst consensus of €2.0bn, supported by strong travel demand and operational performance.
