MADRID -Spanish airport operator AENA said on Wednesday its 2021 loss narrowed by half as passenger traffic through its terminals recovered some ground from the 2020 slump though it forecast 2022 traffic to remain well below pre-pandemic levels.
The group cut its net loss to 60 million euros ($68.02 million) from 126.8 million euros a year earlier, while total revenue climbed 6.7% to 2.39 billion euros.
AENA shares traded 2% down, while the blue-chip index was 0.8% up.
Passenger traffic in AENA's terminals rebounded by nearly 60% last year from a near standstill in 2020 when COVID-19 ground air travel to a virtual halt, but volumes were still less than half their pre-pandemic levels.
The company expects its passenger traffic in 2022 at 68% of pre-pandemic levels, Chief Executive Maurici Lucena said.
"I am more optimistic at present than in other moments during the pandemic," Lucena told analysts and investors during a conference call.
Waves of coronavirus infections followed by rounds of travel restrictions around the world have dashed hopes for a quick rebound airport operators expected when the crisis first hit.
AENA's revenue growth in 2021 was driven by a 35% increase in aeronautical revenues, fees charged to airlines, which more than offset a 23% decline in commercial revenues, rents charged to shops and other businesses operating in the airports.
In September, Spain forced AENA to reduce the rents it charges to tenants at its airports until passenger traffic fully recovered from the pandemic. One of the world's leading airport operators that manages 46 airports in Spain, including Madrid and Barcelona terminals, expects the rent cap to cost it some 1.3 billion euros.
The company last week said it expected traffic through Spanish terminals to recover to pre-pandemic levels during the summer, while seats on flights to and from Spain between March-October to rise around 3.6% compared with the same period in 2019. [L1N2UT0TZ]
AENA also operates airports in Brazil and in London.
($1 = 0.8821 euros)
