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

AENA S.M.E., S.A.

(AENA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Spanish airport operator to lose $1.8 billion in revenues on new COVID-19 regulationá

09/23/2021 | 11:46am EDT

MADRID (Reuters) - Spanish airport operator Aena could lose up to 1.5 billion euros ($1.76 billion) of revenues between 2020 and 2025 after Spain passed a law on Thursday pegging retail tenants' rent to air traffic until footfall reaches pre-pandemic levels.

The much-disputed minimum annual guaranteed rents owed to Aena will be reduced in direct proportion to the passenger flow in each local airport, according to the text of the law, and will remain as such until travel returns to 2019 figures.

The legal change is set to protect all food, drink and retail businesses whose rental contracts with Aena were active on March 14, 2020, the day Spain went into COVID-19 lockdown.

"This is a sector which will head straight towards bankruptcy otherwise," said lawmaker Pedro Quevedo of the centre-left Nueva Canarias party after reading the proposed law.

Lawmakers voted in favour of the new legislation by a majority of 178 to 16.

Aena, which expects traffic at its airports to recover to 2019 levels only in 2026, said in a statement it will evaluate "all judicial implications of the norm and will take all possible actions to the defend the social interest of the company."

The company said the estimate is partial and it cannot fully fathom the cost of the new regulation.

The shares of the company were down 1.7% in afternoon trading after the vote.

Madrid's Barajas airport and Barcelona's El Prat, Spain's international hubs, received around 48% fewer passengers in August of this year than in the same month in 2019.

Global duty free group Dufry and food merchant SSP, both tenants in Aena's network of airports, declined to comment on the regulatory change.

($1 = 0.8514 euros)

(Reporting by Clara-Laeila Laudette and Corina Pons; Additional reporting by Jesús Aguado; Editing by Nathan Allen and Grant McCool)

By Corina Pons and Clara-Laeila Laudette


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AENA S.M.E., S.A. 1.72% 142 Delayed Quote.-1.83%
ALANTRA PARTNERS, S.A. 0.63% 15.95 Delayed Quote.19.17%
DUFRY AG 3.05% 46.99 Delayed Quote.-17.96%
All news about AENA S.M.E., S.A.
05:29aLondon's Heathrow says full travel recovery at least five years away
RE
02:45aLondon's Heathrow says full travel recovery at least five years away
RE
10/22AENA S M E S A : Spain's airlines see more winter flights than pre-COVID, but fuel prices ..
RE
10/08AENA S M E S A : Inviting Bids For Logistics Hub At Madrid Airport
MT
10/08AENA S M E S A : Spain's Aena opens bidding for new Madrid airport logistics hub
RE
09/29AENA S M E S A : Spain Authorizes $2.63 Billion Investment Plan For Airports
MT
09/23Spanish airport operator to lose $1.8 billion in revenues on new COVID-19 regulationá
RE
07/28Aena S.M.E., S.A. Reports Earnings Results for the Half Year Ended June 30, 2021
CI
07/28Aena Announces Operating Results First Half of 2021
CI
07/28AENA S M E S A : H1 2021 Results Presentation
PU
More news
Analyst Recommendations on AENA S.M.E., S.A.
More recommendations
Financials
Sales 2021 2 457 M 2 849 M 2 849 M
Net income 2021 -42,0 M -48,7 M -48,7 M
Net Debt 2021 7 312 M 8 479 M 8 479 M
P/E ratio 2021 -403x
Yield 2021 0,07%
Capitalization 21 300 M 24 696 M 24 697 M
EV / Sales 2021 11,6x
EV / Sales 2022 7,84x
Nbr of Employees 8 231
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
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Last Close Price 142,00 €
Average target price 148,30 €
Spread / Average Target 4,43%
EPS Revisions
Managers and Directors
Maurici Lucena Betriu Chairman & Chief Executive Officer
JosÚ Leo VizcaÝno Chief Financial Officer
Amancio Lˇpez Seijas Independent Director
Jaime Terceiro Lomba Independent Director
Josep Antoni Duran I Lleida Independent Director