Aena, Spain’s airport manager, recorded a net profit of 329.4 million euros in the first quarter of 2026, up 9.3% from 301.3 million euros in the same period of 2025.
Revenues rose 11.6% to 1,479.9 million euros, with 719.4 million euros from aeronautical activities and 465.4 million euros from commercial operations. EBITDA increased 2.7% to 661.1 million euros, achieving a 44.7% margin. Net cash from operating activities reached 908.4 million euros, compared to 820.4 million euros a year earlier.
Passenger traffic grew 3.2% in Spanish airports to 65.6 million and 3.8% across the group to 81.3 million, including London-Luton and Aena Brasil. Growth was driven by international traffic up 5.5%, despite a 1.4% drop in domestic, aided by passengers shifting from rail after the Adamuz accident and Semana Santa’s earlier timing.
Net financial debt fell to 3,621 million euros from 4,468 million at the end of 2025, lowering the debt-to-EBITDA ratio to 1.06 times. Aena invested 298.9 million euros in airport improvements and operational safety.
Through its subsidiary Aena Desarrollo Internacional, Aena won the concession for Rio de Janeiro’s Galeao International Airport for about 482.5 million euros, with the contract running until May 2039. Part of the payment will come from Aena’s cash, the rest via local debt without recourse to the parent company.