Oil

Spanish airport operator Aena says no recovery in sight after 9-mo loss

Credit: REUTERS/SERGIO PEREZ

Spanish airport operator Aena said on Wednesday it sees no sign of a rapid recovery in passenger numbers after it made a net loss in the first nine months of this year.

Adds context

MADRID, Oct 28 (Reuters) - Spanish airport operator Aena AENA.MC said on Wednesday it sees no sign of a rapid recovery in passenger numbers after it made a net loss in the first nine months of this year.

Aena posted a net loss of 107.6 million euros ($127.2 million) over the first nine months compared with a net profit of 1.11 billion euros in the same period a year ago as the number of passengers passing through its airports fell 69%.

The company said the current crisis led it to halt planned investments, to cost cuts by more than 250 million euros in the second and third quarters and to grant price incentives to airlines to land at its airports.

Airport activity came to a virtual standstill in the second quarter after most governments imposed lockdowns and bans on travel abroad to curb the COVID-19 pandemic. A second wave of contagions at the end of summer led to new restrictions that are denting Aena's business.

"The current circumstances show no signs of recovery of short-term traffic, hence it is not possible to forecast when the recovery will begin," Aena said in a statement.

($1 = 0.8461 euros)

(Reporting by Inti Landauro; editing by Jesús Aguado and Keith Weir)

((Inti.Landauro@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More