The Comisión Nacional de los Mercados y la Competencia (CNMC) has decided to freeze Aena’s airport fees for 2025, rejecting the airport operator’s proposal for a 0.54% increase (five cents), which would have raised the fee to €10.4 per passenger. Instead, the fees will remain at €10.35 per traveler. This decision caused a 2.5% drop in Aena’s stock price, which closed at €205 per share, near its historic highs.
CNMC Revises Aena’s Traffic Forecasts
In addition to the decision on fees, the CNMC reviewed Aena’s traffic forecasts, considering them overly conservative. Aena had projected 301.6 million passengers for 2025, but the CNMC estimates that the actual number will be 317.5 million. This could help dilute the cost of airport fees, benefiting users.
Legal Context of the Fee Proposal
The proposed fee increase was based on an update of the P index approved by the CNMC in May. However, the current law stipulates a freeze on airport fees until 2025, and there are no exceptional circumstances justifying the proposed increase. This is in contrast to this year, when a 4.09% increase was approved after intervention by the Council of Ministers.
Airline Reactions and Ongoing Disputes
Airlines, including Ryanair, welcomed the CNMC’s decision, viewing it as a move towards more competitive rates for the sector and passengers. However, Ryanair also called for the cancellation of the fee increases for 2023 and 2024, which the airline claims affected its operations in Spain. Aena is currently evaluating whether to file an administrative lawsuit with the Audiencia Nacional.
Ongoing Legal Challenges
The dispute over airport fees between Aena, IATA, and the ALA (Airline Association) has even reached the Supreme Court, with resolutions expected regarding fee increases from previous years. Aena has stated that these ongoing disputes will not have a significant financial impact.
