Aena Reports Impressive Financial Growth, With Major Investments in Airport Modernization and Expansion Across Spain and Global Destinations, Everything You Need to Know

Published on February 26, 2026

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Aena, the airport management company in Spain, posted a net profit of €2.14 billion for the year 2025, showing a 10.5% rise from the previous year’s profit of €1.93 billion. The company’s gross operating profit (EBITDA) stood at €3.78 billion, showing a 7.8% rise and a remarkable margin of 59.3%. These outstanding figures demonstrate Aena’s successful comeback after the pandemic and its strong presence in the international aviation sector.

Aena’s results, remarkably have been boosted by the continued recovery in passenger traffic, handling 384.8 million passengers in its global airport network, consisting of 46 airports and 2 heliports in Spain, London-Luton Airport, and 17 airports in Brazil. This showed a 4.2% rise in passenger traffic from 2024, with most of the increase contributed by Aena’s airports in Spain, which registered a 3.9% rise in passengers.

Passenger Traffic and Growth Prospects
Aena’s airports in Spain saw an increase in traffic, reaching 321.6 million passengers in 2025. This growth in passenger, in Spain and Europe remarkably, numbers is reflective of the continued recovery of the global aviation industry, with demand for air travel steadily returning. Looking ahead, Aena forecasts further growth, estimating a 1.3% increase in passenger traffic for its Spanish airports in 2026, which would bring the total number of passengers to approximately 326 million.

The increase in passenger traffic at Aena airports is indicative of the region’s ongoing appeal as a tourism and business hub. Spain, one of Europe’s top tourist destinations, continues to see strong demand for both domestic and international travel. The rise in passengers at Aena’s airports reflects this trend, with both leisure and business travelers contributing to the overall growth in air traffic.

Increased Revenues and Commercial Performance
Aena’s total revenue for 2025 reached €6.38 billion, marking an increase of 9.5% compared to the previous year. The group’s aeronautical revenue, which covers services directly related to flight operations, amounted to €3.35 billion, a 4.9% increase. Meanwhile, commercial revenue from non-aeronautical activities, such as retail, parking, and concessions, surged by 11%, reaching €1.98 billion. This growth in commercial revenue reflects Aena’s ability to diversify its income sources and adapt to the evolving needs of the air travel industry.

With passengers returning to airports and travel demand increasing, Aena’s commercial operations, including retail and services, have benefited significantly. The continued success of non-aeronautical revenue demonstrates how airports can effectively integrate diverse revenue streams to complement their traditional flight-related income.

International Expansion and Investment in Airport Modernization
Aena’s international reach continues to expand, with the group investing heavily in airport modernization, particularly in Brazil. In 2025, Aena secured BRL 5.7 billion in funding to modernize 11 airports across Brazil, including key facilities such as Congonhas Airport in São Paulo, as well as airports in Campo Grande, Ponta Porã, Corumbá, Santarém, Marabá, Carajás, Altamira, Uberlândia, Uberaba, and Montes Claros. This investment is aimed at enhancing the passenger experience, improving operational efficiency, and preparing these airports for future growth in traffic.

Aena’s expansion into international markets, especially in Brazil, signifies the company’s commitment to global growth. By modernizing airports in key regions, Aena is enhancing its portfolio and strengthening its presence in international aviation markets. This is expected to provide long-term benefits for both the company and the countries involved, with improved infrastructure contributing to better connectivity and increased tourism.

In December 2025, Aena also finalized an agreement to acquire a 51% stake in a new holding company that owns and manages Leeds Bradford Airport and 49% of Newcastle Airport in the United Kingdom. This acquisition represents another important step in Aena’s global expansion strategy, further diversifying its portfolio and reinforcing its presence in key European markets.

Financial Strategy and Dividend Announcement
Aena’s strong financial performance in 2025 has allowed the company to propose an 11.7% increase in its dividend, which will be presented for approval at the Annual General Shareholders’ Meeting in April 2026. The proposed gross dividend of €1.09 per share reflects Aena’s robust financial position and commitment to delivering value to its shareholders. The company’s dividend policy, which has a payout ratio of 80%, demonstrates its strong cash flow and ability to generate stable returns for investors.

Aena’s continued focus on improving profitability, managing costs, and driving revenue growth ensures that it remains a key player in the global airport and aviation sector. The company’s solid financial foundation and strategic investments in infrastructure make it well-positioned to handle future challenges and capitalize on growth opportunities in the years ahead.

The Impact on Tourism and Travel
The success of Aena and its airports has a direct impact on the tourism and travel sectors, particularly in Spain and beyond. As one of Europe’s most important travel hubs, Spain relies heavily on its airports to facilitate tourism, business travel, and cargo operations. The growth in passenger traffic at Aena airports, along with its increasing commercial and international revenues, supports the continued success of Spain’s tourism industry, which is a major driver of the country’s economy.

Tourists visiting Spain, especially from major international markets, benefit from the enhanced services, improved infrastructure, and increased flight options that Aena’s continued investment provides. With Aena’s focus on improving airport facilities and customer experiences, tourists can enjoy a more seamless and efficient travel experience, which encourages repeat visits and strengthens Spain’s position as a leading global tourist destination.

Looking Ahead: Aena’s 2026 Forecast and Future Plans
As Aena looks to 2026, it anticipates further growth in passenger traffic, with a forecasted 1.3% increase in Spanish airports. The company’s continued investment in infrastructure, expansion into international markets in Spain and outside Europe and focus on improving the passenger experience will ensure that it remains a key player in the global aviation market.