Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Spain
  4. Bolsas y Mercados Espanoles
  5. Aena S.M.E., S.A.
  6. News
  7. Summary
    AENA   ES0105046009


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

London's Heathrow says full travel recovery at least five years away

10/26/2021 | 02:45am EST

Oct 26 (Reuters) - London's Heathrow Airport does not expect air traffic to recover completely until at least 2026, with the number of passengers travelling through Britain's biggest airport well below pre-pandemic levels despite a pick-up in the past three months.

Passenger numbers in the third quarter recovered to 28% and cargo to 90% of pre-pandemic levels at Heathrow, but the airport has lost 3.4 billion pounds ($4.68 billion) cumulatively since the start of the pandemic.

Its expectations echoed those of Spain's airport operator Aena, which also sees the timeline for a full recovery stretching until 2026. French airport operator ADP predicts traffic at its Paris airports will take until 2024 to reach 90% of pre-pandemic levels.

Heathrow, which handles a lot of long-haul flights and last year lost its crown as Europe's busiest hub to Paris Charles de Gaulle, has tried to soften the impact of the pandemic by raising its charges for airlines and asking the government to remove testing rules for vaccinated travellers.

Last week, the UK aviation regulator said it will not allow Heathrow to raise passenger charges by as much as it wanted, but airlines remain opposed to the size of the hike.

Heathrow said the Civil Aviation Authority's initial proposals "do not go far enough" for its investors to achieve a fair return but that it was reviewing the proposal and would respond by the end of the year.

The airport, owned by Spain's Ferrovial, the Qatar Investment Authority and China Investment Corp among others, said its shareholders have achieved negative returns in real terms over the last 15 years.

Heathrow Chief Executive John Holland-Kaye said the focus should remain on the global vaccination effort so that borders can reopen without testing, and that Heathrow itself needs a fair financial settlement with the UK aviation regulator.

"We are on the cusp of a recovery which will unleash pent-up demand, create new quality jobs and see Britain's trade roar back to life - but it risks a hard landing unless secured for the long haul," Holland-Kaye said.

Heathrow also warned on Tuesday that its operating costs would increase as it ramps up to meet increasing demand and as the furlough scheme ends.

Investors are eyeing a boost in international traffic later in the year, after the United States said it would lift travel restrictions for fully vaccinated international visitors from Nov. 8. ($1 = 0.7272 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-Phillips, Keith Weir and Jan Harvey)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AENA S.M.E., S.A. -0.96% 143.7 Delayed Quote.4.68%
AÉROPORTS DE PARIS -1.12% 119.3 Real-time Quote.6.49%
FERROVIAL, S.A. -1.10% 24.21 Delayed Quote.-11.18%
All news about AENA S.M.E., S.A.
2021Spanish Regulator Confirms Legality Of Aena's Catering Services Model For Airports
2021FacePhi Signs Technology Supply Contract With Aena
2021AENA S.M.E., S.A. : 3rd quarter report
2021Aena S.M.E., S.A. Reports Earnings Results for the Nine Months Ended September 30, 2021
2021London's Heathrow says full travel recovery at least five years away
2021London's Heathrow says full travel recovery at least five years away
2021AENA S M E S A : Spain's airlines see more winter flights than pre-COVID, but fuel prices ..
2021AENA S M E S A : Inviting Bids For Logistics Hub At Madrid Airport
2021AENA S M E S A : Spain's Aena opens bidding for new Madrid airport logistics hub
2021AENA S M E S A : Spain Authorizes $2.63 Billion Investment Plan For Airports
More news
Analyst Recommendations on AENA S.M.E., S.A.
More recommendations
Sales 2021 2 404 M 2 675 M 2 675 M
Net income 2021 -123 M -137 M -137 M
Net Debt 2021 7 423 M 8 262 M 8 262 M
P/E ratio 2021 -182x
Yield 2021 0,01%
Capitalization 21 795 M 24 306 M 24 260 M
EV / Sales 2021 12,2x
EV / Sales 2022 8,24x
Nbr of Employees 8 270
Free-Float 48,8%
Chart AENA S.M.E., S.A.
Duration : Period :
Aena S.M.E., S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AENA S.M.E., S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 27
Last Close Price 145,30 €
Average target price 148,88 €
Spread / Average Target 2,47%
EPS Revisions
Managers and Directors
Maurici Lucena Betriu Chairman & Chief Executive Officer
José Leo Vizcaíno Chief Financial Officer
Amancio López Seijas Independent Director
Jaime Terceiro Lomba Independent Director
Josep Antoni Duran I Lleida Independent Director