Spanish airport operator Aena earns one billion euros in first six months and revises its passenger traffic forecast upwards

This slight improvement is mainly due to two factors: the temporary diversion of traffic to Spain as a safe tourist destination due to the war in the Middle East and certain constraints on rail services.

Despite the success of the first half of the year, Aena warns that, looking ahead to the second half of the year, the passenger forecast will be characterised by uncertainty, resulting from the expiry of fuel hedges and the conflict in the Middle East.

Aena recorded a net profit of one billion euros during the first half of 2026, an increase of 12.1% compared with the same period in 2025. In total, the airport operator's consolidated revenue reached almost 3.3 billion, up 10.1%, while aeronautical revenue stood at 1.7 billion and commercial revenue at 991 million.

As a result, earnings before interest, tax, depreciation and amortisation (EBITDA) stood at almost 1.8 billion euros, up 6.3%, with an EBITDA margin on total revenue of 54.5%.

Net cash flow from operating activities rose by 8% to nearly 1.6 billion. The company's share price fell by around 3.4% mid-morning following the announcement of the results.

In the first half of the year, total passenger traffic within the Aena network, which comprises Spain, London Luton Airport, the Brazilian airports ANB and BOAB and Leeds Bradford, rose by 3.9%, totalling 190 million passengers.

At the network's airports in Spain, passenger numbers rose by 3.7% to 156.2 million. This represents a lower rate of growth than that recorded in the first half of last year compared with 2024, when growth stood at 4.5%.

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