Aena will invest 2,500 million euros between the years 2022 and 2026 (half of what was expected before the pandemic) and foresees an increase in airport charges of 5% in that period, according to the Airport Management Document (Dora 2) approved by the Spanish airport manager.
This document, which the Competition authorities have yet to approve, establishes the investment framework for this period and it also limits the maximum rates paid by airlines and which is often the subject of controversy. The companies, in fact, had requested a reduction to stimulate passenger demand, plummeted by the pandemic.
The system for calculating this rate (called Maximum Annual Revenue per Passenger) is complex, since an initial rate is set, which is then modified based on a series of adjustments, thus giving rise to a real rate.
What Aena proposes in its document is an increase of 5%, without the relevant adjustments, divided into annual increases of 0.5% and 3.2% in 2026, the last year of the five-year period.
In 2022, for example, it proposes to charge the airlines 9.94 euros per passenger. Aena will transfer the cost of all the measures implemented to fight the pandemic here in 2020, which have been paid by Aena and for which the company requests compensation. The costs in this type of measures carried out this year, for example, will be applied in the 2023 rates.
Investment
The Dora 2 also contemplates the investment for the aforementioned period of 2,500 million euros. This is half of what was planned, given that the Barajas and El Prat expansions (which represented a large percentage at this time) will begin in the last part of this five-year period.
From this investment, 2,250 million would come from income from the aforementioned rates, and the remaining 250 million through commercial income. Aena argues that airport rates are 44% below the European average.
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