AENA pandemic losses are over 2.500 million due to the pandemic, according to a report by Deloitte that could reopen its feud with the government.
It follows the pulse between Aena and the Directorate General of Civil Aviation (DGAC), the latter backed by the Ministry of Transport, its main shareholder, for the refusal to financially repair the airport manager due to the COVID-19 pandemic.
The company led by Maurici Lucena is seeking in the courts a repair of its accounts after the impact of the health crisis, which forced it to close its airports and invest large amounts to protect the health of travelers.
AENA pandemic losses
The semi-public company continues to defend that the Airport Regulation Document (DORA) establishes extraordinary mechanisms to compensate it.
The DORA establishes the minimum conditions necessary to guarantee the accessibility, sufficiency and suitability of the airport infrastructures and the adequate provision of the basic services of the Aena airport network that will bind the operator in five-year periods.
The publicly listed company was denied the opening of the 2017-2021 DORA to reflect the damage to its accounts due to causes beyond its control, since the airline sector understood that such a modification would harm the equitable distribution of the costs of the pandemic and would discourage the recovery of the sector.
AENA pandemic losses laws
Aena considers that article 27 of Law 18/2014 that articulates the Dora can help you in this regard, since the regulations reflect that Aena can be compensated for exceptional circumstances, such as the ”annual reduction of traffic of more than 10% due to causes caused by natural disasters, terrorist acts or war situations". Aena's traffic fell by 72% during the first year of the pandemic, exactly. When the circumstances that hinder traffic are not exceptional, the risk is borne by the operator.
The news now comes from Aena, which has just submitted an expert report requested from Deloitte, to which it has had access for Five Days.
This expert report estimates that there was a loss of 2,482 million euros: 1,394 million in 2020 and 1,088 million in 2021.
AENA pandemic losses figures
This figure is based on the difference between the expected ebit (published in the DORA 2017-2021) and the ebit obtained, or what is the same, compare the 724.5 million forecast for 2020 and the 723.6 million for 2021, with the adjusted real ebit of -669.5 million and -365 million, respectively.
With these data on the table, Aena reinforces its request to the judge to reopen the analysis of compensations that would be charged to the fare system that the airlines support, explains Cinco Días.
In case of achieving a modification, Aena proposes that the deficit is not transferred to the current DORA (2022-2026), but to that of the five-year period that runs from 2027 to 2031.
