Spanish state-owned airport operator Aena announced a record net profit of €2.136 billion for 2025, representing a 10.5% increase compared to the previous year. Simultaneously, the company presented detailed investment plans for 2027–2031 totaling over €1.8 billion for the Canary Islands alone, as well as other, smaller projects across Spain. Aena's chairman, Maurici Lucena, sharpened his rhetoric towards airlines, accusing them of pursuing cheap airports at the expense of safety and infrastructure maintenance, which has met with strong opposition from carriers.

Record profit and higher dividend

Aena recorded a net profit of €2.136 billion in 2025, representing a 10.5% increase and a historic record for the company. The board of directors proposed an 11.7% increase in dividend payout to shareholders. These results come in the context of a debate about future airport fee increases.

Massive investments in infrastructure

The operator announced extensive investments in the modernization and expansion of airports. In the Canary Islands, it plans to spend €1.806 billion over the next five years. Furthermore, projects were announced for, among others, Asturias (€50.3 million), Córdoba (€18 million), Pamplona (€28.7 million), Albacete, and the Castile and León region (€57 million).

Intensified dispute with airlines

Chairman Maurici Lucena caused controversy by stating that airlines 'underestimate safety,' demanding cheap airports to increase their own profits. Carriers, including Ryanair, sharply criticized these words, considering them irresponsible and rejected the accusations, arguing that it is Aena that exploits its monopolist position.

Tender for terminal in Alicante

The company plans to announce a tender later this year for a comprehensive reform of Terminal T1 at Alicante-Elche Airport. This is one of the key projects within the broad investment plan for the coming years.

Spanish airport operator Aena closed 2025 with a record financial result. Net profit reached €2.136 billion, representing a 10.5% increase compared to the previous year. The board of directors proposed an 11.7% increase in the dividend for shareholders. The company's excellent financial results come at a time of heated debate about the future of airport fees and infrastructure investment. Listed on the stock exchange since 2015, Aena remains majority-owned by the Spanish state and manages over 40 airports in the country and holds stakes in airports abroad, including in the United Kingdom and Latin America.Announcing the results, the company also presented very ambitious investment plans for 2027–2031. The largest package, worth €1.806 billion, is earmarked for the Canary Islands. Furthermore, a series of smaller but significant projects were announced: €50.3 million for Asturias Airport, €28.7 million for Pamplona, €18 million for Córdoba, and €57 million for modernizing airports in the Castile and León region. All these investments aim to modernize terminals, improve their energy efficiency, and increase passenger comfort. The atmosphere in the aviation industry was heated by the sharp words of Aena's chairman, Maurici Lucena. In an interview with „El País”, he stated that airlines „underestimate safety” because their demands for cheap airports stem from a desire to maximize their own profits at the expense of infrastructure maintenance and safety. „Las aerolíneas subestiman la seguridad para tener aeropuertos baratos y ganar más.” (Airlines underestimate safety to have cheap airports and earn more.) — Maurici Lucena His statement was met with an immediate and sharp reaction from carriers. The Airline Association (ALA) and low-cost carrier Ryanair rejected these accusations, calling them „irresponsible” and pointing out that it is Aena, as a monopolist, that dictates terms and prices, hindering the development of competitive connections. This dispute reflects a deeper conflict of interest between an infrastructure monopoly and carriers seeking to lower operational costs. „Aena bate récord de beneficio con 2.136 millones de euros en puertas de empujar una subida de los billetes de avión” (La Razón (article title 13)) — The headline suggests a direct and certain causal link between Aena's record profit and an upcoming increase in air ticket prices, which is an editorial interpretation, not a confirmed fact. The article does not contain an official announcement of a price increase, but only speculates on the topic.Simultaneously, Aena is proceeding with key tenders, including a comprehensive reform of Terminal T1 at Alicante-Elche Airport, which is to be announced later this year. The entirety of the presented investment plans and the chairman's controversial rhetoric show that the Spanish airport operator is at a crucial moment, balancing between the need to reinvest huge profits, shareholder expectations, pressure from carriers for lower fees, and the requirements to modernize aging infrastructure.

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