Aena’s 2023 profit soars 81% as airport traffic tops pre-COVID levels

Published On : 02/28/2024

MADRID (Reuters) – Spanish airport operator Aena said on Wednesday its net profit rose 81% in 2023 to a record 1.63 billion euros ($1.76 billion) as passenger traffic surpassed pre-pandemic levels, showing a faster recovery than elsewhere in Europe.

Analysts polled by LSEG expected a 62% increase in net profit.

Aena’s overall revenues jumped 21% to 5.14 billion euros, more than the 19% estimated by analysts, as its commercial income improved more than its revenues from airlines operations due to lower fees than in 2019.

The airport operator’s profit was 13% higher than in pre-pandemic 2019, when net profit was 1.44 billion euros.

Spain’s airports, all operated by Aena, saw their traffic rising 16% in 2023 to a record 283.2 million passengers, 3% more than in 2019, before the pandemic ground air traffic to a halt.

Analysts expect passenger traffic in Spain to increase by at least 1% this year.

Tourism worldwide will fully recover from the pandemic this year, according to estimates from the United Nations’ tourism body.

Aena said it will propose to distribute of dividend of 7.66 euros per share out of the 2023 profit, a higher shareholder remuneration than the 4.75 euros per share paid a year ealier.

($1 = 0.9236 euros)

(Reporting by Corina Pons, editing by Inti Landauro)

Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.