Spain’s AENA reported Palma de Mallorca Airport was its most profitable airport in 2010 with a profit before tax of EUR43.9 million. It was followed by Alicante El Altet Airport, which reported a profit before tax of EUR43.8 million, an increase of 5% year-on-year, and a 0.3% increase in aircraft movements as well as a 2.7% rise in passenger numbers to 9.4 million (Typically Spanish, 07-Apr-2011). According to AENA, Málaga Airport reported an after tax loss of EUR16.5 million during the year.
AENA reports Palma de Mallorca most profitable airport in 2010
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After suffering a protracted recession in 2009 to 2013, Spain's air travel market at last looks set to exceed its pre-crisis passenger numbers in 2016, albeit with something of an airline capacity glut. During the recession traffic was actually remarkably robust, thanks to buoyant inbound tourism and the growth of LCCs.
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Ryanair has been the largest airline by seats in Spain since 2013, the result of its own growth and also of second ranked Iberia's restructuring. IAG's other Spanish airline – the fast-growing Vueling – has been the country's number three ranked airline since 2010, pushing Air Europa into fourth. Madrid has remained Spain's largest airport, but Barcelona's growth has outpaced Madrid's. Spain's airport operator AENA is benefiting from double-digit growth this year, but airlines are suffering yield declines.
Palma de Mallorca Airport: new Eurowings base in price-sensitive market; capacity is accelerating
The announcement by Eurowings that it plans to establish a base with two aircraft at Palma de Mallorca Airport next spring focuses attention on Spain's number three airport by passenger numbers. One of Europe's most important airports for LCC capacity, Palma is also very dependent on the summer schedule. The low point of the winter schedule has 78% fewer seats than the peak summer week.
Traffic at the airport held up relatively well during the second phase of Spain's 'double-dip' recession in 2011 to 2013, but its passenger growth has lagged that of the country as a whole since then. The mix of airlines has been in some flux, with Palma's leading airline airberlin gradually losing share to LCCs and the seat-only sales of charter airlines. Ryanair, number two at the airport, has returned to capacity growth there in 2016 after two years of cuts.
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