» Aena becomes profitable

Aena becomes profitable

The Aena Group published a press release confirming they had become profitable with benifits by 715 million Euros in 2013.

According to elEconomista.es this has been possible thanks to cuts in costs and increases in fees.

Thus, the EBITDA – gross operating profit – reached 1,610 million Euros, 32.5% over those 1,215 million of 2012.

Most of these net benefits come from Aena Aeropuertos which, for the first time, managed to be profitable and finished 2013 with a net income of 597 million Euros. In 2012 they had a loss by 75.7 million Euros.

The Government is trying to privatise Aena Aeropuertos since June 2011 when the old AENA – Spanish Airports and Air Navigation – became the Aena Group, made up of Aena Aeropuertos and Air Navigation. However, perhaps due to the financial crisis and the lack of investors, this process is being postponed.

Between 2011 and 2013 the operations costs have been reduced in 320 million Euros to become 1,862 million Euros in 2013.

Furthermore, Aena explains that the improvement of these results has reduced the Aena’s debt which is now 11,394 million Euros, 9.4% less than in 2012.