Spanish airports shatter records with 321 million passengers in 2025

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State operator Aena reports a €2.13 billion net profit and announces plans for a €1.09 per share dividend after a historic year for tourism

C. P. S.

Madrid

Wednesday, 25 February 2026, 10:22

Spain's new record number of arrivals last year had a direct impact on the state airport operator (Aena), which increased its net profit by 10.3% to more than 2.13 billion euros. In addition, Aena's revenues increased by 9.5% last year, to almost 6.38 billion euros.

Aena revealed this data in a report released on Wednesday.

Aeronautical revenues surpassed 3.34 billion euros, 4.9% more than in 2024, while commercial revenues reached 1.97 billion euros, 11% more compared to 2024. Total sales from commercial activities grew by 8.5%.

In airport property management, total revenues grew by 10.5%, driven by revenues from air cargo activity, which increased by 9%, and from other assets (+35.5%).

The company's figures show that hangars are consolidating their role as one of the main generators of real estate value. Six plots have been awarded for the construction of hangars and logistics, with the largest hangar in the Aena network at Adolfo Suárez Madrid-Barajas Airport starting up in April 2025.

Aena's gross operating profit (Ebitda) rose 7.8% to 3.78 billion euros, while net operating profit (Ebit) totalled nearly three billion euros, up 12.2%.

380 million passengers

Passenger traffic for the entire Aena Group (Spain, London-Luton and Aena Brazil airports) also grew by 4.2% in 2025, to 384.8 million passengers.

At the network's airports in Spain, the increase was 3.9%, to 321.6 million passengers. Looking ahead to 2026, Aena estimates that passenger volume growth at Spain's airports in 2026 will be 1.3%.

The company has also informed that it will propose to the ordinary general meeting of shareholders, to be held on 16 April, the distribution of a dividend of 1.09 euros gross per share against 2025 earnings, which represents an increase of 11.7%.

Aena Group's consolidated net financial debt stood at 5.51 billion euros in 2025, compared to almost 5.5 billion euros in 2024, decreasing the ratio of net financial debt to Ebitda ratio of the consolidated group to 1.46 times, compared to 1.57 times on 31 December 2024.