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Aena loses 126 million euros in 2020 after a 50% drop in its income

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Aena, the manager of Spanish airports, has lost 126 million euros in 2020 after a 50.2% drop in revenue to 2,242.80 million euros. Its shares fell 0.7% to 140.30 euros.

Aena has been one of the companies most affected by coronavirus pandemic, since the air traffic it collapsed last year due to restrictions on mobility. This is reflected in all the parameters of your income statement.

The Reported EBITDA has plunged 74.2% to 714.6 million euros, while EBIT has plunged to -92 million from the 1,977 million recorded in 2019. In addition, the flow from operating activities has plummeted 92%, to 146 million.

During 2020, passenger traffic registered a historic drop of 72.4%, to 76.06 million, compared to the 275 million registered in 2019.

"Short term no signs of recovery in traffic due to the new wave of infections that is spreading in Europe and the different restrictive measures applied by different European countries in response to it. In the current circumstances, it is not possible to anticipate when the recovery will begin"says the company.

INCENTIVES FOR THE SUMMER SEASON

Aena continue with your commercial incentives policy designed to enhance the scheduling of operations by airlines. The Council of has approved a new extraordinary incentive for the recovery of operations for the 2021 summer season.

This measure, which will be applied between April 1 and October 31, encourages the recovery percentage that exceeds certain thresholds. For the first three months, the established recovery threshold is 30% and, for the last four months, 45%.

All operations carried out from these percentages will be incentivized in their landing rate in the same percentage of their recovery. The incentive assumes that companies will receive a discount on the average monthly landing rate for all operations that exceed the established levels, regardless of the number of passengers they transport.

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