The bulk will go to the growth of infrastructure such as Madrid, Barcelona, Alicante, Malaga and Tenerife Sur. Aena falls 3.5% to half session, the value of the Ibex35 that retreats the most.
AENA will shoot its investments up to 12,888 million euros (US $ 15,198 million) in the 2027-2031 period to modernize and expand the capacity of its airports, As explained this morning in Elche (Alicante) the President of the Government, Pedro Sánchez. The State, through ENAIRE (Ministry of Transport), controls 51% of the airport operator.
Specifically, of those 12,888 million, 9,991 million will correspond to regulated investments. These are the ones that will be incorporated into the 2027-2031 Airport Regulation Document (Dora III), which now AENA must submit to consultations with the airlines, given that that last amount is financed with the airport rates.
Mid -morning, Aena is the value of Ibex 35 that falls the most. More than 3.5% is left to 23.52 euros per title (US $ 27.74), with a capitalization of 35,280 million euros (US $ 41,604).
“The proposal for regulated investments that is finally included in the Dora, after processing, which includes the consultation period with the representative associations of the users, will be submitted to the approval of the Council of Ministers, “Aena recalled in a statement sent to the CNMV.
Airlines have shown investment party to increase the ability of airports and to introduce improvements, although they have requested that efficiency be prioritized, In view of the fact that those 9,991 million will be listed through airport rates, object of controversy. In 2026 it is planned to rise 6.5%, something that is pending the authorization of the CNMC, so that they will be located at an average of 11.03 euros per passenger (US $ 13.01), 0.68 euros more than today.
The debate between the quoted and the airlines will focus, above all, how much the rates must increase. “Aena’s objective is that this investment cycle is compatible with the preservation of one of the most competitive rates in Europe”, The group presided by Maurici Lucena explained today.
Sample of the controversial of these rates is Ryanair’s reaction. The Irish airline, the main one in Spain by number of travelers, considers that the current level and the expected increase do not make its operation in regional airports competitive and has decided, between this summer campaign and the next winter, stop operating in four cities and reduce its activity in five others. He has also threatened with a third cut in regional Spain for the summer of 2026.
The regulated investment for the next five years multiplies by 4.4 the initially planned in Dora II (2022-2026), of 2,250 million, although, after a modification introduced this summer, the amount regulated in that five-year period will be at 2,600 million. With this last figure, the regulated investment of 2027-2031 will multiply by 3.8 that of the previous five-year period. These amounts do not include unregulated investments.
Without a clipper
The substantial upward change occurs because Aena ceases to be handcuffed by the law by which she went over in 2015which limited regulated investments to 450 million annually for a decade.
In the absence of knowing the detail, the main investments will go to larger airports, which are the ones that are closest to their saturation. AENA has reported that Madrid will receive 4,000 million euros (US $ 4,717) million, although not all will be invested between 2027-2031. The last figure provided was 2,400 million.
In Barajas it is planned to unify the T1, the T2 and the T3 in the T123, reform the T4 and prepare the infrastructure for the arrival of high speed. The objective, ultimately, is to consolidate and expand the dominance of the Spanish capital as a bridge between Europe and Latin America, with Iberia and Air Europa as the main operating airlines. The optimal capacity of the 70 million current passengers to 90 million will be expanded.
Expansion of El Prat
For Barcelona, 3.2 billion euros were announced at the time (US $ 3,773 million). This amount includes the remodeling of the T1, the expansion of the clue closest to the sea and the construction of a satellite terminal. A part still to be determined of those 3.2 billion will be included in Dora III; The rest will go to the next regulated period, Dora IV (2032-2036). After the works, the Prat will raise its annual capacity of 55 million to 70 million passengers and its will is to become a hub with Asia.
There will also be important investments in the Canary Islands (one billion, especially for the two of Tenerife and Lanzarote), The Valencia Community (about one billion for Valencia and Alicante), the Balearic Islands (Palma, Menorca and Ibiza) and Andalusia (Málaga, for example).
“The investment will serve to add the increase in expected traffic and respond to success (tourist) that we are enjoying, To improve the experience of passengers, comfort and security, and will emphasize sustainability, “said Sánchez. For example, this last area will receive 1.5 billion euros.
