SPAIN. Leading airports group Aena today reported its annual results for 2024, with commercial revenue reaching €1,780 million, a rise of +14.7% year-on-year. Total sales from commercial activities climbed by +11.4% compared to 2023. In related news, Aena plans to tender 20% of the F&B spaces at Spanish airports in 2025 (more below).
The double-digit growth in commercial income outpaced that of passenger traffic in the year. Passenger volumes at Spanish airports grew by +9.2% in 2024, reaching 309.3 million, a record for the second consecutive year.
Across the group (comprising 46 airports and two heliports in Spain, London Luton Airport and 17 airports in Brazil) the figure hit 369.5 million passengers, +8.5% more than in 2023.
Group consolidated revenue in 2024 increased by +13.3% year-on-year to €5,827.8 million, EBITDA climbed +16.1% to €3,510.3 million while net profit grew +18.6% to €1,934 million.
Elaborating on commercial performance and outlook in its results, Aena noted sharp increases in duty-free revenue (+28.2%) and VIP services (+31.3%), while food & beverage revenue rose +7% and speciality shops by +1.6%.
Commercial revenue per passenger (including real estate) grew by +4.6% year-on-year to €6.10.
Aena said that its future income would be boosted by Minimum Annual Guarantees (MAGs) in its latest contracts.
In the category of speciality shops, 71 tenders(covering 85 locations) were published, of which 53 tenders (67 premises) have been awarded. Of those awarded last year, MAG rents were +22% ahead of 2023 in 2024, and will be +45% ahead of 2023 in 2025 (including rents from new premises).
In food & beverage, 37 tenders for 52 spaces were issued in 2024, with 27 awards made. Of these, MAG rents compared to 2023 rose +44% in 2024 and will rise +50% in 2025 (including rents from new premises). Aena will host the 2025 Airport Food & Beverage (FAB) + Hospitality Conference and Awards in Barcelona, Spain on 25-26 June.
Looking ahead, as noted above 20% of all F&B spaces (72 locations) will be tendered in 2025. In speciality shops, 6% of all stores or 61 locations will be tendered. A further 20 financial services locations (43% of spaces in this channel) will come up for bid this year.
Aena estimates that passenger volume across the Spanish airport network will rise by +3.4% in 2025 to around 320 million. 
Note: The Moodie Davitt Report publishes the FAB Newsletter, which features highlights of openings, events and campaigns from around the world of airport and travel dining.
Please email Kristyn@MoodieDavittReport.com for your complimentary subscription.
