Airport operator Aena's quarterly profit doubles on record traffic

Spanish airport operator Aena beat forecasts on Tuesday with a near doubling in first-quarter net profit as passenger traffic to and from one of the world's most-visited countries was on course to top last year's record level. The company, which operates all of Spain's airports as well as some in Latin America and Britain, said it made a net profit of E261m, topping analysts' average forecast of E196m, according to an LSEG survey. Net profit was E133.6m in the same period last year. The number of passengers that arrived at Aena's Spanish terminals rose 13% year-on-year in the quarter to more than 60m. Passenger traffic across all its terminals, including London-Luton and airports in Brazil, increased 12% to 74.6m. Earlier this year, Aena estimated traffic would increase 7.1% in 2024, but Financial Director Ignacio Castejon said on Tuesday it would now review that guidance at the end of the second quarter. "In April we have also seen very healthy growth, although smaller than in the first months" due to Easter falling in March, Castejon told a conference call with analysts. Spanish airlines expect a record summer and are adding 13% more seats than a year ago, confident consumers will continue to travel despite higher ticket prices and wider inflation. Aena's passenger growth is outpacing that of other European airport operators, and the company expects to manage around 1m people per day by 2026 in all its terminals.<br/>