Aena clashes with airlines over fare increases

BarcelonaAena's board of directors has approved the third party's proposal Airport regulation document (DORA III) for the period 2027-2031, which foresees a total investment of €12.888 billion, of which €9.991 billion corresponds to regulated investment and is therefore included in the DORA 2027-2031, as reported by the company to the National Securities Market Commission (CNV).

In fact, El Prat's future is still uncertain. In this regard, the president of Aena, Mauricio Lucena, assured that the investments to develop the airports for the next 30 years are arriving "on time" across the entire network of airports they manage, except for Barcelona. "I would only make one exception, and it's not Aena's fault: Barcelona airport is five years behind," he said. The head of Aena blamed the situation on "the previous president of the Generalitat and his ERC government, which blocked it for five years." Lucena celebrated the fact that this issue has been "unblocked" and thanked the current government. During the period 2027-2031, the master plan for the expansion will be processed, and the environmental measures that the European Union must oversee due to the impact on the Ricarda lagoon, a Natura 2000 protected area, can begin to be implemented. The extension of the next runway and the new terminal are included in the proposal approved by the airport operator this Wednesday. The approved document anticipates reaching 60.2 million passengers at El Prat in 2031, five million above the technical capacity limit. The DORA III plan, already submitted to the Directorate General of Civil Aviation and the National Commission on Markets and Competition (CNMC), seeks to safeguard the security and capacity of Spanish airports to handle a projected 1.69 billion passengers over the next five years. Furthermore, Aena proposes an average annual fee increase of €0.43 per passenger, "which keeps Aena's fees at very competitive levels and will allow the company to remain highly efficient," according to the company. This fee plan has been criticized by airlines, including direct attacks from Ryanair. The airline association (ALA) has expressed its opposition, arguing that investments can be made without raising costs. In ALA's opinion, the increase proposed by Aena is the result of an underestimation of traffic and an overestimation of capital and operating costs. The International Air Transport Association (IATA) also believes that raising fees is unnecessary. IATA's Regional Vice President for Europe, Rafael Schvartzman, stated that Aena "manipulated the regulatory system for years and earned millions of euros more than it was entitled to at the expense of passengers, airlines, and the Spanish economy," according to Europa Press.

Aena's traffic projections, with an annual growth of 1.3%, differ from those suggested by the report commissioned by the airlines, which are at 3.6%. According to the airlines, airport fees for the next five years are calculated using a formula established in the regulations that takes into account four variables: traffic forecasts, WACC (cost of capital), regulated operating costs, and investments. This would translate into a 4.9% annual decrease in fees for the next five years. For ALA, the "containment" of fees in DORA I and II has fostered a "virtuous circle" that has facilitated growth in air traffic, tourism, and economic activity, while Aena has achieved record profits and distributed "multimillion-euro dividends" to all its shareholders, including the State (with the State). Aena asserts that traffic in the coming years will be marked by a certain slowdown, following the strong post-pandemic recovery. Therefore, it estimates cumulative passenger traffic of 1.69 billion in the period 2027-2031. €3.2 billion in Barcelona

Key projects include the expansion of Terminals 4 and 4S, along with the creation of a new processor for Terminals 1, 2, and 3 at Adolfo Suárez Madrid-Barajas Airport, which will absorb a substantial portion of the total budget of nearly €4 billion. At Josep Tarradellas Barcelona-El Prat Airport, improvements and upgrades are planned for Terminal T2, along with a reconfiguration of Terminal T1, a runway extension, and the construction of a new Terminal T1S (with initial investments during this period forming part of a larger plan of up to €3.2 billion). Additionally, the expansion of the terminal area at Málaga-Costa del Sol Airport is planned; as well as the expansion of the terminal at Alicante-Elche Miguel Hernández Airport; the complete renovation of the terminal area at Tenerife South Airport; and the development of the terminal area at Valencia Airport. The adaptation of the terminal buildings to the new regulations of Ibiza and Menorca; the adaptation of the terminal area and the expansion of the platform at César Manrique-Lanzarote; the expansion of the terminal in Bilbao; the development of the terminal area at Tenerife North-Ciudad de La Laguna, and the renovation of the terminal area in Melilla.