Spain to keep cap on airport tariffs for 2022-2026

MADRID, Sept 28 (Reuters) - Spain has approved a 2.25 billion euro ($2.64 billion) investment plan for its airports for 2022-2026, which includes a freeze on tariffs charged by airport operator AENA AENA.MC to airlines, the transport ministry said on Tuesday.

"The freeze ... places AENA's tariffs among the most competitive and will therefore contribute to attracting new companies and the recovery of the air transport sector," the government's statement said.

The plan, which expects an average 450 million euros in investment a year and is known as DORA-II, aims to ensure adequate provision of airport services.

Environmental sustainability and innovation will also be pillars of the new plan, which will introduce half a dozen new environmental markers among its measures of quality in service.

AENA said in a statement the decision "gives stability" for airports management for the next five years and will guarantee "an adequate level of investment to maintain and improve the airport infrastructure".

Spain passed a law last week ordering AENA to reduce commercial rents in direct proportion to the passenger flow in each local airport until the pandemic subsides.

The airport operator said it could lose up to 1.5 billion euros in revenue between 2020 and 2025 due to the decision.

Passenger volumes should recover by 2023 for the partly state-owned operator, while the bulk of commercial uncertainties should abate in the next 12 or 18 months as traffic improves, Bank of America analysts said in a recent note to clients.

($1 = 0.8537 euros)
Reporting by Emma Pinedo, Corina Pons and Clara-Laeila Laudette Editing by David Evans and Mark Potter

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