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Aena Memoria / Annual report 2010
Annual Report 2010
The electronically edition of the Annual Report 2010 and the Aena Corporate Social Responsibility Report 2010 has saved approximately 2.8 tons of paper, with an estimated reduction of the environmental impact of 39.2 trees, 5.06 tons C02 and 133,333 litres of water.
This annual report presents information corresponding to 2010 on the public company “Aeropuertos Españoles y Navegación Aérea”, except for the section “Legal information”, which provides consolidated data on Aena and its holding companies.
The chapter “International development” affords information on Aena Desarrollo Internacional S.A.
Aena Anneal Report 2010 can be downloaded at the following Internet website: www.aena.es
We welcome those who wish to send questions, contributions, suggestions or comments about the content of the Aena Annual Report to do so in any of the following ways:
By post:Aeropuertos Españoles y Navegación Aérea (Aena)Dirección de Comunicación, 1ª plantaC/ Arturo Soria, 10928043 Madrid
By e-mail:[email protected]
By phone: By fax:(+34) 91 321 26 19 (+34) 91 321 15 78
Annual Report 2010
Terminal 3 Malaga Airport – Costal del Sol
Annual Report 2010
Index
Información institucional / Institutional Information ....................................8
Aena en cifras / Aena in Figures ........................................................................................... 9
Presencia geográfica / Geographic Presence ....................................................................... 11
Evolución de magnitudes significativas / Progress of Signifi cant Magnitudes ................... 13
Órganos rectores / Governing Bodies .................................................................................. 16
Organigrama / Organization Chart ...................................................................................... 19
Carta del director general-presidente / Letter from the chairman ..................................... 20
Información general /General Information ..................................................22
Aeropuertos / Airports ......................................................................................................... 23
Infraestructuras / Infrastructures .......................................................................................... 34
Navegación Aérea / Air Navigation ...................................................................................... 46
Espacios y servicios comerciales / Commercial spaces and service ..................................... 64
Aena internacional / International development .................................................................69
Información legal / Legal Information .........................................................77
Informe de auditoría de cuentas consolidadas / Audit Report on Consolidated Account ........78
Informe de gestión / Management Report ......................................................................... 84
Cuentas anuales consolidadas / Consolidated Annual Accounts ..................................... 110
Estados financieros individuales / Individual Balance Sheets ........................................... 168
Annual Report 2010
Bilbao Airport
Annual Report 2010
Institutional Information 1Annual report 2010
• Aeropuertos Españoles y Navegación Aérea (Aena) is the world’s foremost airport operator in
terms of passenger throughput.
• Aena is a public company attached to the Ministry of Public Works of the Spanish Government.
• Spain has 47 airports and 2 heliports, with 193 million passengers and over 2.1 million ope-
rations in 2010.
• Spanish airports handled nearly 659,000 tons of cargo.
• In 2010 Aena was among the four most important providers of Air Navigation services in Eu-
rope, having controlled 1.89 million flights this year
• On the 31st December 2010 Aena had 13,258 employees.
• The Grupo Aena includes the subsidiary companies Aena Desarrollo Internacional S.A. and
Clasa, with a 100% holding.
• Aena Internacional is involved in the management of airport infrastructures in 27 airports scat-
tered throughout Latin America (Mexico, Colombia, Cuba and Bolivia), EU (UK and Sweden)
and in the United States that recorded about 49 million passengers in 2010.
• The investments paid by the Aena group equal 1,733 million Euros.
• Aena recorded a consolidated operating income of 3,094 million Euros.
• Aena operating expenses were Aena 3.057 million Euros.
• The consolidated EBITDA was 904 million Euros.
1 Aena in figures
Annual report 2010 9
Institutional InformationAena in Figures
Aircraft on approach to airport
Annual report 2010
2 Geographic presence
Aena in Spain
Airports: 47. Heliports: 2 (Ceuta and Algeciras). En-route and approach control centres: 5 (Madrid, Barcelona, Seville, Palma de Mallorca and Canary Islands). Terminal area control centres: 2 (Santiago and
Valencia). Control towers: Navegación Aerea provides air traffic service to 35 Aena Towers and two private airports. Radio-aids: 190 (ILS/DME: 48, VOR/DME: 74, NBD: 69). Surveillance systems: 52 (Primary
Radars: 12, Secondary Radars: 29, Surface Radars: 6, Multilateration systems: 5)
El Hierro
Jerez
Sevilla
Badajoz
Burgos
Vitoria
La Gomera
TenerifeSur
Tenerife NorteLa Palma
Fuerteventura
Lanzarote
Gran Canaria
Málaga
Murcia-San Javier
Almería
Córdoba
Salamanca
Valladolid
LeónLogroño-Agoncillo
Zaragoza
Huesca-Pirineos
Pamplona
San SebastiánBilbao
Asturias
Santander
A Coruña
Santiago
Vigo
Albacete
Madrid-Cuatro VientosMadrid-BarajasMadrid-Torrejón
Alicante
Valencia
Palma de Mallorca
Ibiza
Son Bonet
Menorca
Reus
BarcelonaSabadell
Girona-Costa Brava
Federico García LorcaGranada-Jaén
Melilla
Ceuta
Algeciras
-El Prat
-Costa del Sol
Airport
Control Centre
Heliport
Annual report 2010 11
Institutional InformationGeographic presence
Aena is the largest network of world airports
USA1,1 millions
Orlando-Sanford
Colombia7,2 millions
BarranquillaCartagena de Indias
Cali
More than 241 million passengers in 74 airports and heliports
*Traffic data on December 2010
Bolivia3,7 millions
La PazCochabambaSanta Cruz
Aena AirportsOperated by AenaAirports participated through TBIManagement and Advise contracts
Mexico20,2 millions
TijuanaSan José del Cabo
Puerto VallartaLos Mochis
La PazHermosillo
GuadalajaraBajio
AguascalientesManzanillo
MexicaliMorela
Management Contracts USA
• Atlanta• Burbank• Macon
• Raleigh-Durham
Airport operations advise contract
Cuba (Ecasa)
UK14,2 millions
BelfastCardiff
London-Luton
Sweden2,5 millions
Stockholm-Skavsta
Spain192,7 millions
47 airports2 heliports
Annual report 2010 12
Institutional InformationGeographic presence
3 Trends in significant volumes
0
50
100
150
200
250
2010200920082007200620052004
Passengers (in millions):
166181 193
210 203187 192
300
Cargo (in million tons):638
629 614642 643
569
659
0
100
200
300
400
500
600
700
2010200920082007200620052004
Flights managed by “navegaCión aérea”(in million air movements):
1,71 1,801,92
2,09 2,061,88 1,89
0,0
0,5
1,0
1,5
2,0
2,5
2010200920082007200620052004
oPerations (in millions):
2,002,20
2,302,50
2,422,16 2,12
3,0
0,0
0,5
1,0
1,5
2,0
2,5
2010200920082007200620052004
Annual report 2010 13
Institutional InformationTrends in significant volumes
1 In the year 2008 the new accounting rules began to be implemented. This introduced variations in the classification of costs and income in the Profit and Loss Account. 2 Includes the negative balance under “Impairment and loss on disposal of fixed assets” and “Other results” of the Profit and Loss Account.3 The concept of investments paid by the group was incorporated into the new accounting rules as of the year 2008.
Consolidated revenues1
(in million euros):
2.7803.141
3.2413.095 3.094
0
500
1.000
1.500
2.000
2.500
3.000
3.500
20102009200820072006
Consolidated oPerating exPenses2
(in million euros):
2.6252.903
3.1263.318
3.057
0
500
1.000
1.500
2.000
2.500
3.000
3.500
20102009200820072006
Consolidated ebitda1 (in million euros)(Gross profit before deducting interest, depreciation and taxes)
796
931
814
574
904
0
200
400
600
800
1.000
20102009200820072006
investment grouP Paid3 (in million euros):
2.123
1.715 1.733
0
500
1.000
1.500
2.000
2.500
201020092008
Annual report 2010 14
Institutional InformationTrends in significant volumes
Module C Palma de Mallorca Airport
Annual report 2010
4 Governing bodies
MANAGEMENT COMMITTEE[As at December 31st, 2010]
President
Mr. Juan Ignacio Lema Devesa
Members
Mr. Manuel Ameijeiras Vales
Mr. José Luis Cachafeiro Vila
Mr. Mario Díaz Millán
Mr. Luis Espadas Moncalvillo
Mr. José Carlos Fernández Arahuetes
Mr. Ricardo García Herrera
Mr. Jesús Manuel Gómez García
Mr. Miguel Ángel Jiménez Martín
Mr. Manuel López del Saz
Ms. Mónica Melle Hernández
Ms. Monserrat Merino Pastor
Ms. Helena Royes Riera
Secretary
Mr. Jesús Fernández Rodríguez
Also belonged to this Committee Ms. Soledad Sanz Salas, resigned 26th February 2010; Mr. Fran-
cisco Cadarso González, resigned 24th March de 2010; Ms. Cristina Latorre Sancho, Mr. Teófilo
Serrano Beltrán and Mr. Miguel Ángel González Suela, resigned 23rd July 2010, and Mr. Carlos Ibarz
del Olmo, resigned 21st December 2010.
Annual report 2010 16
Institutional InformationGoverning bodies
BOARD Of DIRECTORS[As at December 31st, 2010]
Chairman and Managing Director
Mr. Juan Ignacio Lema Devesa
Director of Spanish Airports
Mr. Javier Marín San Andrés
Director of Air Navigation
Ms. Carmen Librero Pintado
Director of Administration and Finances
Mr. Miguel Ángel Ávila Suárez
Director of Audits and Internal Control
Mr. Alfonso de Alfonso Bozzo
Communications Director
Ms. María Jesús Luengo Martín
Contracting Director
Mr. Ginés Ramírez Lifante
Director of the Office of the Chairman
Mr. José Alfonso Solbes Galiana
Infrastructures Director
Mr. Jesús Mendiluce Lacalle
Environment Director
Mr. José Manuel Hesse Martín
Director of Organization and Human Resources
Ms. Begoña Gosálvez Mayordomo
Secretary / Director of Planning and Management Control
Mr. Ángel Luis Arias Serrano
Director of Infrastructure Planning
Ms. Amparo Brea Álvarez
Director of the General Technical Secretariat
Mr. Jesús Fernández Rodríguez
Annual report 2010 17
Institutional InformationGoverning bodies
Almería Airport Terminal
Annual report 2010
5 Organizational charts
Director of Administration and Finances
Mr. Miguel Ángel Ávila Suárez
Director of the Office of the Chairman
Mr. José Alfonso Solbes Galiana
Director of Organization and Human Resources
Ms. Begoña Gosálvez Mayordomo
Communications Director
Ms. María Jesús Luengo Martín
Infrastructures Director
Mr. Jesús Mendiluce Lacalle
Director of Infrastructure Planning
Ms. Amparo Brea Álvarez
Director of the General Technical Secretariat
Mr. Jesús Fernández Rodríguez
Contracting Director
Mr. Ginés Ramírez Lifante
Environment Director
Mr. José Manuel Hesse Martín
Secretary / Director of Planning and
Management Control
Mr. Ángel Luis Arias Serrano
Corporate Units
Director of Audits and
Internal Control
Mr. Alfonso de Alfonso Bozzo
Chairman
and Managing Director
Mr. Juan Ignacio Lema Devesa
Director of Spanish Airports
Mr. Javier Martín San Andrés
Director of Air Navigation
Ms. Carmen Librero Pintado
Business Units
Annual report 2010 19
Institutional InformationOrganizational charts
6 Letter from the Chairman
The year 2010 has marked the beginning of a deep transformation process in Aena, which has pivoted around two major milestones: the structural reform of our air navigation system and the new airport management model pas-sed in the Spanish Parliament.
With 20 years of existence, Aena faces a modernization challenge that enables to con-solidate as the first global airport operator by passenger volume and one of the leading providers of air navigation services, offering quality services with the highest level of safety and efficiency.
The “Decreto Ley 13/2010” passed by the Spa-nish Ministers Council on 3rd December, and later confirmed by the Spanish Congress of Deputies, provides for the establishment of the corporation Aena Aeropuertos S.A. to manage airports. This corporation will continue having most of public capital, but will give input to private capital up to a maximum of 49%.
For the first time, individualized management arrangements are considered, through conces-sions and subsidiary companies, which allow Aena airports to compete among them, while preserving the overall network.
Before starting the implementation of the new airport management model it was carried out a
structural reform of enormous depth in the air navigation system, in order to improve efficien-cy and competitiveness and put their costs and therefore air navigation taxes in the average of the five major European suppliers within two years.
With the changes, the collective control costs in 2010 were reduced by 35% and producti-vity increased by 30%. Spain is the only major European country that has lowered taxes of en route air navigation that, also, have ceased to be the most expensive in Europe.
In addition, we have taken the first steps in the liberalization of the control tower service, in 13 airports of the network it will be provided by different suppliers of Aena.
Reforms, in short, that have been reflected in the Income Statement of Aena, as can be seen from the information contained in this Annual Report, improved by 55% in 2010, a year in which recorded a loss after tax of 157,1 million Euros versus 353 million Euros last year.
An improvement is also explained by the in-crease in air traffic over the past year, after two consecutive years of declines due to the economic crisis, which has been reflected in increased revenues of almost 5%.
The Austerity Plan launched last year also con-tributed to the improved performance of Aena which lowered its operating expenses by 3.8% last year.
The company is immersed in the process of amortization of the significant investments made in the last decade, but its ability to ge-nerate business grows stronger every year as evidenced by EBITDA growth of 62% in 2010 to over 903 million Euros.
As said earlier, 2010 was a year of important changes to Aena, the prelude to the transfor-mation that the organization will live in 2011. The professionalism of the team that I have the honour to lead is a guarantee of success for the major challenge that faces to us.
Juan Ignacio Lema DevesaCEO-chairman
Aena
Annual report 2010 20
Institutional InformationLetter from the Chairman
Aena Social Headquarters
Annual report 2010
General Information 2Annual report 2010
Barcelona-El Prat Airpot
Airports
Annual report 2010
EVOLUTION OF TRAFFIC IN SPAIN
The airports of the Aena network recorded more than 192.8 million passengers in 2010
(2.8% more than in 2009) and operated over 2.1 million flights (2.3% less). They trans-
ported more than 659,000 cargo tons (15.8% more). These figures show a marked impro-
vement in the situation of air transport in 2010, and keeping Aena as the largest airport
operator in the world.
PASSENGERS
A total of 192,792,606 passengers used the facilities of the Aena network during 2010,
representing an increase of 2.8% compared to 2009. Of all these passengers, commercial
flights are 191,698,625 (2.8%). Of these, 115,052,135 used international flights (3.9%) and
domestic flights 76,646,490 (1.2%).
Among the major airports by passenger traffic, Madrid-Barajas remains the largest in the
network, with 49,866,113 passengers, representing a rise of 3.0% over 2009. Followed by
Barcelona-El Prat, with 29,209,536 passengers (6.5%), Palma de Mallorca, with 21,117,417
(-0.4%), Malaga-Costa del Sol, with 12,064,521 (3.8%) Gran Canaria, with 9,486,035 (3.6%),
Alicante, with 9,382,931 (2.7%), and Tenerife Sur, with 7,358,986 (3.5%).
Among the biggest percentage increases Ceuta Heliport had an increase of 45.0%; and the
airports of Madrid-Cuatro Vientos, with 28.8%; Burgos, with 21.2%; and Zaragoza, with
14.7%.
During 2010, international passenger traffic increased by a 3.9% in the whole network. The
growth of Logroño-Agoncillo airport is remarkable (642.3%), San Sebastian (107.2%), Vitoria
(35.6%), Madrid-Cuatro Vientos (23.6%), A Coruña (20.4%), Zaragoza (19.7%), Fuerteven-
tura (18.2%) and Sevilla (16.7%).
«Aena is the largest airport operator in the world with over 192 million passengers per year»
Almost 50 million passengers passed through the Madrid-Barajas Airport
Airports
Annual report 2010 24
General Information
The Madrid-Barajas Airport remains the one with the most traffic of the entire network, with
433,706 flights (-0.3%), followed by Barcelona-El Prat, with 277,832 operations (-0.4%), Pal-
ma de Mallorca, with 174,635 (-1.6%), Malaga-Costa del Sol, with 105,634 (2.0%), Gran Ca-
naria, with 103,093 flights (1.5%), Valencia, 77 806 (-4.1%); Alicante, 74 476 (0.3%), Tenerife
Norte, 61 605 (-1.9%) and Ibiza, with 56,988 (6.4%).
Among the airports with the highest percentage growth in operations the Ceuta Heliport is
remarkable, with an increase of 46.0% (3564 operations), and the airport of Lanzarote, which
recorded an increase of 8.7% (46 669 operations); followed by Fuerteventura, 8.3% (39 437),
and Son Bonet, 7.7% (14 119).
As the number of international operations, the growth of Logroño-Agoncillo (142.6%), San
Sebastian (56.9%) and Córdoba (35.7%).
CARGO
The volume of goods transported during 2010 was 659,441,154 kilograms, 15.8% more than
the previous year; 506,454,023 kilograms of international cargo (23.6%) and domestic cargo
152,987,131 kilograms (- 4.4%).
By airport, Madrid-Barajas holds the first place, 374,517,639 kilograms (23.6%). Followed by
Barcelona-El Prat, with 106,124,228 kilograms (16.5%), Zaragoza with 43,817,997 (15.8%),
Vitoria 30,857,642 (3.5%), and Gran Canaria 24,553,046 (-5.6%).
Since January 2010 there was a clear recovery of air traffic passengers monthly, closing every month
with positive rates; only in April there was a sharp decline due to the effects produced by the volcano
in Iceland.
AIRCRAfT
Throughout 2010, the airport made a total of 2,119,665 operations, representing a decrease in
the number of operations from 2009 (-2.3%). Of all these movements 1,824,329 correspond to
commercial flights (0.1%), of which 921,071 were domestic (-2.3%) and 903,258 were interna-
tional (2.6%). Regarding the type of flights, 1,617,077 were regular (0.0%) and 178,567 were
charter (-1.5%).
«The airports performed 2,119,665 operations»
The volume of goods grew 15.8%
General Information Airports
Annual report 2010 25
total Passengers in 2010
AIRPORT PASSENGERS AIRPORT PASSENGERS
Madrid-Barajas 49.866.113 Santander 919.871
Barcelona-El Prat 29.209.536 Almería 786.877
Palma de Mallorca 21.117.417 Zaragoza 605.912
Málaga-Costa del Sol 12.064.521 Valladolid 392.689
Gran Canaria 9.486.035 Melilla 292.608
Alicante 9.382.931 Pamplona 291.553
Tenerife Sur 7.358.986 San Sebastián 286.077
Ibiza 5.040.800 El Hierro 170.968
Lanzarote 4.938.343 León 93.373
Valencia 4.934.268 Badajoz 61.179
Girona-Costa Brava 4.863.954 Salamanca 43.179
Sevilla 4.224.718 Vitoria 42.073
Fuerteventura 4.173.590 Burgos 33.595
Tenerife Norte 4.051.356 La Gomera 32.488
Bilbao 3.888.955 Madrid-Torrejón 30.096
Menorca 2.511.629 Ceuta (helipuerto) 29.817
Santiago 2.172.869 Logroño-Agoncillo 24.527
Reus 1.419.851 Albacete 11.293
Asturias 1.355.364 Algeciras (helipuerto) 10.999
Murcia-San Javier 1.349.579 Córdoba 7.852
A Coruña 1.101.208 Huesca-Pirineos 5.906
Vigo 1.093.576 Madrid-Cuatro Vientos 295
Jerez 1.043.163 Sabadell 0
La Palma 992.363 Son Bonet 0
FGL Granada-Jaén 978.254 total 192.792.606
Airports
Annual report 2010 26
General Information
traFFiC* in sPanish airPorts in 2010
2010 % Inc 2010/2009 % TRAffIC
AIRCRAFT
Domestic 921.071 -2,3% 43%
International 903.258 2,6% 43%
Other types 295.336 -14,5% 14%
TOTAL 2.119.665 -2,3% 100%
PASSENGERS
Domestic 76.646.490 1,2% 40%
International 115.052.135 3,9% 60%
Other types 347.770 3,0% -
Transits 746.211 -13,9% -
TOTAL 192.792.606 2,8% 100%
GOODS IN KILOGRAMS
Domestic 151.951.776 -4,6% 23%
International 500.561.998 23,5% 76%
Other types 610.661 283,6% -
Transits 6.316.719 34,1% 1%
TOTAL 659.441.154 15,8% 100%
TRAFFIC**
Domestic 78.166.008 1,1% 39%
International 120.057.755 4,6% 60%
Other types 353.877 4,4% -
Transits 809.378 -11,5% -
TOTAL 199.387.018 3,1% 100%
* Total data including transits and other traffic types.** Traffic units equivalent to a passenger and his baggage or 100 kg cargo.0 10.000.000 20.000.000 30.000.000 40.000.000 50.000.000
Madrid-Barajas
Palma de Mallorca
Gran Canaria
Alicante
Tenerife Sur
Ibiza
Lanzarote
Valencia
Girona-Costa Brava
Sevilla
Fuerteventura
Tenerife Norte
Bilbao
Menorca
Santiago
Reus
Asturias
Murcia-San Javier
A Coruña
Vigo
Jerez
busiest airPots by total Passenger traFFiC 2010
Málaga-Costa del Sol
Barcelona-El Prat
Airports
Annual report 2010 27
General Information
evolution oF the Passengers traFFiC
Año Pasajeros totales Año Pasajeros totales
2000 140.997.305 2006 193.553.178
2001 144.600.598 2007 210.498.760
2002 143.092.601 2008 203.862.028
2003 153.826.341 2009 187.631.102
2004 166.146.198 2010 192.792.606
2005 181.277.741
0
50
100
150
200
20102009200820072006200520042003200220012000
evolution oF Passenger’s traFFiC 2000-2010 (in millions)
140,9144,6 143,0
153,8
166,1
181,2
193,5
210,4203,8
187,8
192,7
Airports
Annual report 2010 28
General Information
airCraFt traFFiC* 20102010 % Inc 2010/2009 % TRAffIC
REGULARDomestic 862.182 -2,6% 53%International 754.895 3,1% 47%TOTAL 1.617.077 0,0% 100%CHARTERDomestic 44.420 -0,8% 25%International 134.147 -1,7% 75%TOTAL 178.567 -1,5% 100%OTHER SERVICES 28.685 13,6% 9%OTHER TRAFFIC TYPES 295.336 -14,5% 91%TOTAL 324.021 -12,6% 100%TOTAL 2.119.665 -2,3% 100%
* Total Operations including other traffic types.
800
1.100
1.400
1.700
2.000
2.300
2.600
20102009200820072006200520042003200220012000
evolution oF the airCraFt traFFiC 2000-2010 (in thousands)
1.8541.902 1.894
1.9692.057
2.210
2.319
2.5022.420
2.1692.119
Airports
Annual report 2010 29
General Information
airCraFt traFFiC* 20102010 % Inc 2010/2009 % TRAffIC
REGULARDomestic 134.337.135 -3,6% 24%International 420.666.639 28,0% 76%TOTAL 555.003.774 18,6% 100%CHARTERDomestic 17.476.619 -11,7% 18%International 79.466.479 3,9% 82%TOTAL 96.943.098 0,7% 100%OTHER SERVICES 566.902 -0,1% 8%OTHER TRAFFIC TYPES 610.661 283,6% 8%TOTAL 6.316.719 34,1% 84%TOTAL 7.494.282 37,8% 100%TOTAL 659.441.154 15,8% 100%
* Total Operations including other traffic types.
420
520
620
20102009200820072006200520042003200220012000
638
601596
605
653
629 626
643 643
659
570
goods traFFiC evolution 2000-2010 (thousand tons)
Airports
Annual report 2010 30
General Information
PassengersCOMERCIAL
OTHER TYPES TRANSITDOMESTIC INTERNATIONALREGULAR NO REGULAR REGULAR NO REGULAR
2000 55.979.285 1.875.832 45.781.831 35.401.016 298.517 1.660.8242001 57.883.172 1.655.429 49.185.247 34.143.728 230.476 1.479.3522002 55.857.853 2.261.547 49.773.812 33.386.752 288.783 1.500.5652003 60.325.919 2.590.053 56.291.001 32.740.373 256.261 1.594.5772004 65.566.398 2.930.938 65.384.904 30.197.281 286.452 1.756.8432005 73.770.980 2.609.550 75.516.257 27.376.609 349.370 1.633.8222006 79.186.689 2.322.090 83.079.805 26.809.437 406.284 1.710.0222007 86.661.047 2.406.954 94.831.107 24.756.627 370.021 1.443.7572008 80.115.031 1.840.632 98.037.782 22.313.674 372.680 1.163.1802009 74.037.693 1.660.687 93.955.995 16.757.328 337.392 867.0992010 74.850.230 1.789.704 99.033.465 16.008.990 347.770 746.211
0
20.000.000
40.000.000
60.000.000
80.000.000
20102009200820072006200520042003200220012000
domestiC CommerCial PassengersREGULAR NO REGULAR
international CommerCial PassengersREGULAR NO REGULAR
201020092008200720062005200420032002200120000
10.000.000
20.000.000
30.000.000
40.000.000
50.000.000
60.000.000
70.000.000
80.000.000
90.000.000
100.000.000
Airports
Annual report 2010 31
General Information
distribution oF Passengers in 2010Regular domestic 74.850.230
No regular domestic 1.789.704
Regular international 99.033.465
No regular international 16.008.990
Other types 347.770
Transits 746.211
TOTAL 192.776.370
Other servicies not included 16.236
192.792.606
Regular international51,4%
No regular domestic0,9%
Regular domestic38,8%
Transits0,4%
Other types0,2%
No regular international8,3%
Airports
Annual report 2010 32
General Information
ComPrarision oF traFFiC at euroPean airPorts
European Average 2010 (ACI Global)* 4.3%
AIRPORT CODE THOUSANDS PASSENGERS % Inc ***London (UK) * LHR 65.884 -0.2%París (France)* CDG 58.167 0.4%Frankfurt (Germany)* FRA 53.009 4.1%Madrid-Barajas (Spain)** MAD 49.866 3.0%Amsterdam (Holland)* AMS 45.212 3.8%Rome (Italy)* FCO 36.228 7.4%Munich (Germany)* MUC 34.722 6.2%Istambul (Turkey)* IST 32.166 7.7%London (UK)* LGW 31.379 -3.2%Barcelona (Spain)** BCN 29.210 6.5%Paris (France)* ORY 25.204 0.4%Zurich (Switzerland) * ZRH 22.827 4.3%Moscow (Rusisa)* DME 22.254 19.2%Antalya (Turkey)* AYT 21.850 18.7%Copenhaguen (Denmark)* CPH 21.452 9.1%Palma de Mallorca (Spain)** PMI 21.117 -0.4%Vienna (Austria)* VIE 19.691 8.7%Moscow (Russia)* SVO 19.329 30.9%Oslo (Norway)* OSL 19.091 5.5%Dusseldorf (Germany)* DUS 18.988 6.7%
* Global ACI data on March 16, 2011, for 2010.** Definitive Aena data for 2010.*** Change in 2010 over 2009.
Airports
Annual report 2010 33
General Information
Inner part of the new Terminal in the Alicante Airport before its opening
Infrastructures
Annual report 2010
CRITERIA FOR AENA DEVELOPMENT PROJECTS
The decision to create and develop the airport infrastructures and air transport ensure that
the Aena airports can keep growing to take over the air traffic demand. To this end, during
2010 the Directorate of Infrastructures, has developed projects and has executed the pro-
grammed constructions, contributing to the improvement of quality and the development
of airport and air traffic infrastructure, maintaining high levels of safety and prevention
of workplace risks (goods and people), ensuring the execution of the projects established
in the corresponding environmental impact statements, contributing to the growth of the
generated resources and in keeping the applicable rules and guidelines, under the current
legislation.
• Safety and prevention. In all phases related to the Directorate of infrastructures have
been continually improving, including in the specifications the preventative criteria required
by Aena and by current legislation about the minimum provisions in the security of people
and prevention of workplace risks.
• Qualityassurance. The Directorate of Infrastructures direct, oversee, supervise and coordi-
nate the activities related to the development and monitoring of the Quality Management
System, in addition the activities related to the technical audits of the construction work
executed by the Directorate of Infrastructures.
• Environment. The Directorate of Infrastructures manages the different activities and ac-
tions necessary for carrying out different studies, projects and reports that are established
in the corresponding impact statements, performing environmental monitoring and control
from the projects phases until the end of the construction. Also, directs and manages the di-
fferent environmental activities that came from the execution of projects and collaborating
with the Directorate of Environment in the elaboration and processing of environmental
impact studies of the Directorate´s works. Fuerteventura Airport
Infrastructures
Annual report 2010 35
General Information
Moreover, the special plans for the airports: Barcelona Plan (Barcelona-El Prat Airport), Levan-
te Plan (Alicante and Valencia Airport) and Málaga Plan (Malaga-Costa del Sol Airport) are in
charge to develop and execute the necessary infrastructures for the expansion of the assigned
airports. During 2010, Aena has continued their development, progressing in the projects and
executing the programmed constructions in order to modernize and set up the facilities, as well
as contributing to the improvement of the airports image as they are perceived by users and
society in general.
During 2010, the construction of the South Control Tower has been finished in the Barcelona
Plan and the systems that operate in the electrical control of the different airports have been
homogenized, implementing an integrated security system.
In 2010 opened the Algeciras Heliport
During 2010, the Levante Plan, and especially the expansion of the Alicante Airport, during
2010 there was a big step in its development, therefore, in 2011 the new facilities have be-
come operational. The expansion of the new T-2 Terminal in the Valencia Airport has begun,
the works done in this Airport during 2010 contributed to the improvement of the electrical
system.
Finally, the most important project finished in the Malaga Plan during 2010 allowed a
better functionality between the buildings and the access to the airport. Also, the expan-
sion project of the airfield is going on as it was planned. It includes the construction of a
second runway (12/30) of about 3090 meters, a parallel aircraft way with rapid exits and
a new apron.
«In the Málaga Plan, the expansion of the airfield, which includes the construction of a 3090 meters second landing runway, is under way»
«In the Barcelona Plan, the South Control Tower is built»
General Information Infrastructures
Annual report 2010 36
1.1 most signFiCant ProJeCts draFted (ComPleted) in 2010
AIRPORT TITLE COST (Millions of €)
A CORUÑA Changes in the electrical system. 3.90
Upgrading car parks and roads. 33.99
ALGECIRAS Construction of a new Heliport. 5.82
ALMERIA First phase of Terminal Building expansion. 24.09
Equipment for the First Phase of Terminal Building expansion. 1.20
Adaptation of airfields. 3.49
Acquisition, installations and integrations of hold baggage screening system. 5.18
ASTURIAS Adaptation of airfields. 2.26
BADAJOZ Terminal building, apron and car park B expansion. Air 7.79
FUERTEVENTURA Terminal Area expansion. 58.70
Furnishing and equipment for the expansion of the Terminal Building. 4.93
GERONA Remodelling the Terminal Building. 8.23
P-3 parking building and new car park. 29.42
Installation of new generator and substations remodelling. 4.67
GRAN CANARIA Installation of number plate recognition system and updating management system. 1.29
IBIZA Terminal Building facilities renovation and new heating and cooling plant. 31.70
Construction of shopping areas. 3.39
JEREZ Second phase Terminal Building expansion. 7.23
Extension of the aircraft way till the runway head 02. 10.63
Remodelling beaconing. 5.01
Revamping the electrical system. 6.75
LA PALMA Adaptation of exits to the Building Code. 1.00
Improvement of the electrical power. 4.70
LANZAROTE Airfield upgrade. 7.56
Expansion of the system to transport baggage to Terminal 2. 1.82
LEON New terminal building, site development and apron. 17.30
MADRID/BARAJAS Installation of improvements in the heating and cooling systems in CPD T2. 1.38
Construction of a new platform between ramp 7 and ramp 6. 11.30
Expansion of the rainwater runoff drainage system of T4. 6.48
Adapting the galleries to regulations, stage IV control of the state of the galleries pumps 1.55
1 WORKS IN THE AIRPORTS NETWORK
Infrastructures
Annual report 2010 37
General Information
MADRID/BARAJAS Adaptation and expansion of staff cantinas in T1 and T2. 1.07
Renovation of pavement 33L-15R 4.79
Improvement of crisis room in T4 1.36
MÁLAGA Baggage screening system for the expansion of Terminal Area 32.95
Supply and installations of the boarding air-bridges and aircraft equipment for the terminal expansion. 9.64
MELILLA Improvement of perimeter fencing and upgrading of perimeter road. 1.31
New power plant and remodeling of the electricity sub-station 4.50
MENORCA Elimination of obstacles in airfield. 1.29
MURCIA Expansion of the public car park and installation of shelters. 2.57
PALMA MALLORCA Expansion of module C. 39.61
Development of passenger area and trade fair centre. 2.99
Installation of management system, number plate recognition system and parking space addressing. 1.70
PAMPLONA New Terminal Area 20.93
New control tower 4.62
Acquisition and installations of hold baggage screening system. 1.36
REUS Expansion of check-in and departures. 13.82
Project and Supply and installation of provisional building for departures. 4.16
SAN SEBASTIAN Runway extension 1.32
SEVILLA Adaptation of landside development to new needs. 2.31
TENERIFE/NORTE New exit way 1.77
TENERIFE/SUR Fencing around north-side property. 1.26
Aircraft way extension 3.72
Acquisition, installations and integrations of hold baggage screening system for the new Terminal Building. 8.02
Supply and installation of boarding air-bridges. 1.10
VITORIA Revamping the electrical system and management control. 8.13
ZARAGOZA New cargo terminal and upgrading site development. 2.23
1.1 most signFiCant ProJeCts draFted (ComPleted) in 2010
AIRPORT TITLE COST (Millions of €)
Infrastructures
Annual report 2010 38
General Information
1.2 most signiFiCant WorKs under Way during 2010
AIRPORT TITLE COST (Millions of €)
ALMERÍA New C.E. and revamping the electrical system. 8.87
BADAJOZ Airfield pavement. 4.22
BARCELONA Improvement of reliability of electrical system. 4.11
BILBAO Functional improvement of Terminal building. 24.90
CORDOBA Runway extension. 21.86
Processing the expropriated areas. 3.31
FUERTEVENTURA Upgrading roads and pavement. 1.65
Improvement of visual aids. 1.60
Supply and installations of the boarding air-bridges and aircraft equipment for the terminal expansion. 6.63
GERONA Improvement of airfield. 2.79
GRANADA New electrical plant. 9.25
GRAN CANARIA Expansion of Terminal Building. 124.65
Improvement of the airfield. 5.64
New field building for companies and security. 6.66
CT performances for rings and to comply the insular rules 2.83
New C.E. renovation. and sub-stations 16.23
IBIZA Adapting terminal building to functional design. 59.37
Improvement of airfield 1.53
Furnishing and equipment supply. 2.40
Removal of the control system 2.40
LA PALMA New building SEI 6.63
Buildings demolition and first expansion of apron on the east side. 6.09
New terminal area and control tower. 98.44
LANZAROTE New bus parking area 6.25
Adaptation of the airfields 4.68
Adaptation of apron. 5.58
Electrical installations and managing control remodeling 13.15
LEÓN Remodelling of the electrical system. 6.34
LOGROÑO Installation of ILS cat I and adaptation of the headers 6.36
Airport adaptation to the NTAC 1.65
MADRID/BARAJAS PyO Upgrading the ventilation system of TSA tunnel. 3.30
Construction of new shopping areas in terminals 1,2 and 3 4.15
Infrastructures
Annual report 2010 39
General Information
MADRID/BARAJAS New roads and access roads to the area located between 18-36 runaway, 5.49
Security improvement in the access to T4 and T4s flight deck. 4.31
Works to adapt the fire protection of the TSA, tower SDP-T4 and T.C.N. 2.70
Provision and installation of improvements in the heating and cooling systems of the boarding air-bridges of T4 and T4S. 2.17
MADRID/TORREJON Construction and different developments. 8.80
MENORCA Construction of a new purifying plant. 2.83
Renovation of the runaways pavement 6.14
Improvement of airfield. 5.97
MURCIA Check-in and boarding areas adaptation 2.79
Upgrading terrain for gliding path at threshold 23. 1.59
PALMA MALLORCA Construction of shopping area In Module C 8.93
Remodelling of platform A (Phase II) 19.84
Improvement of reliability of electrical system 6.22
Improvement of airfield. 5.90
Supply and installation of walkways to board and aircraft support equipment for the expansion of the new terminal 8.05
PAMPLONA Reforms to increase emergency power and auxiliary systems 4.78
Improvement airfields. 1.48
REUS Furnishing check-in and departure building. 1.42
Improvement of airfield. 13.85
SALAMANCA Adaptation of the airport to the airport electrical regulations. 6.04
SANTANDER Adaptation of Terminal building. 1.50
Remodelling Terminal building 9.41
SANTIAGO New Terminal area. 125.84
South zone for aircraft parking. 23.46
Improvement of airfield. 5.38
Shopping areas in NAT 1.36
New power plant. 15.68
SEVILLA Expansion of car parking. 13.91
TENERIFE NORTE Channelling storm water into the chasm "El Gomero" 1.04
Improvement of airfield. 2.45
TENERIFE/SUR Improvement of airfield. 2.96
Roofing and adaptation of buildings to fire regulations 1.55
1.2 most signiFiCant WorKs under Way during 2010
AIRPORT TITLE COST (Millions of €)
Infrastructures
Annual report 2010 40
General Information
TENERIFE/SUR Unification of voltages, improvements in the electricity grid and management. 11.70
VALLADOLID Improvement of airfield according to the ICAO regulation. 1.75
VIGO Car park building, development and technical unit. 41.45
Expansion of Terminal building. 45.31
Improvement of reliability of electrical system. 2.23
VITORIA Extension and adaptation of the runway and borders. 10.60
ZARAGOZA Provision and installation of two emergency stop systems. 3.34
1.2 most signiFiCant WorKs under Way during 2010
AIRPORT TITLE COST (Millions of €)
1.3 most signiFiCan WorKs Finished during 2010
AIRPORT TITLE COST (Millions of €)
A CORUÑA ATRP. Extension of runway 0.60
ASTURIAS ATRP. New power plant. 0.20
BADAJOZ Acquisition, installations of hold baggage screening system. 0.91
GERONA Expansion and adaptation of the arrival runway. 0.73
ATRP. Extension of runway. 0.40
FEDERICO GARCÍA-LORCA
GRANADA-JAÉN
ATRP. New control tower. 0.35
IBIZA ATRP. Link the platform with the parallel aircraft way 0.23
LA PALMA ATRP. Extension of airfield 0.30
LANZAROTE Expansion of baggage transport system in T2. 1.82
LEÓN Acquisition and installations of hold baggage screening system. 0.56
LOGROÑO ATRP. New power plant. 0.15
PALMA DE MALLORCA ATRP. Expansion of car park building. 1.48
PAMPLONA Acquisition and installation of hold baggage screening system. 1.36
REUS ATRP. Adapting parking areas. 0.10
SEVILLE ATRP. Upgrading the platform. 0.27
TENERIFE/SUR ATRP. General adaptation of the platform. 1.00
Provision and Installation of gangways 1.10
VIGO ATRP. Expansion of Terminal building. 0.92
Infrastructures
Annual report 2010 41
General Information
2.1 most signiFiCant WorKs Finished in 2010. barCelona Plan
TITLE COST (Millions of €)
Provision and installation of elements for controlling people and vehicles access for Barcelona NTS. 5.30
Construction and installation of the East aircraft platform for aircraft parking. Phase 1. 20.80
Construction of South control tower. 11.20
Development of the reserve area. Second Phase. 5.40
Integration of the electrical control system. 1.90
Development, provision and additional installation of elements for the airport management centre of Barcelona NTS. 1.90
2.2 most signiFiCant WorKs in Progress during 2010. barCelona Plan
TITLE COST (Millions of €)
Urbanization under the "Plan Especial de Ordenación" subsystem 1.7 about coastal environmental protection and environmental adaptation 6.90
2 WORKS IN THE AIRPORT NETWORK
2.3 most signiFiCant ProJeCts Finished during 2010. barCelona Plan
TITLE COST (Millions of €)
ATRP. Adaptation of the old West control tower. Phase 1: Construction Project. 0.18
ATRP. Adaptation of push-back ways, drainage system and RESAS. 0.17
ATRP. Building construction for border inspections. 0.21
Infrastructures
Annual report 2010 42
General Information
3.1 most signiFiCant WorKs Finished in 2010. levante Plan
AIRPORT TITLE COST (Millions of €)
ALICANTE Adaptation of potable water supply to NAT 1.24
New power plant 18.34
Integrated security system. 7.04
Shopping area in the new terminal. 4.67
Improvement of airfields 10.83
Terminal area equipment. 6.82
New electrical and interconnected galleries. 3.19
VALENCIA Access to new control center 4.26
Alteration of the electrical system. Phase 1. 1.52
3.2 most signiFiCant WorKs in Progress in 2010. levante Plan
AIRPORT TITLE COST (Millions of €)
ALICANTE New terminal area 267.77
Number 1 Complementary works: new terminal area. 5.97
Project and building construction for the fluid power system for waste treatment 4.01
Improvement of the header 5.85
Minor projects and additional facilities for the opening of the new terminal area. 12.00
Expansion of the aircraft waiting area. 8.70
VALENCIA Expansion of aircraft parking platform in service area. 11.23
Expansion of the aircraft parking platform in general aviation area 2. 5.92
T2 Terminal expansion. 37.32
Expansion of public car park. Second Phase. 21.86
Construction of a new power plant and electrical system improvement. 17.08
3 LEVANTE PLAN
Infrastructures
Annual report 2010 43
General Information
3.3 most signiFiCant ProJeCts Finished in 2010. levante Plan
AIRPORT TITLE COST (Millions of €)
ALICANTE ATRP. Extension of the runway 0.22
VALENCIA ATRP. Extension of spectator's gallery till the service area. 0.15
ATRP. New fast-exit ways and new ways in front of the platform. 0.30
ATRP. Shopping area. 0.10
ATRP. South side power plant and electrical system alteration 0.81
4.1 most signiFiCant WorKs Finished in 2010. malaga Plan
TITLE COST (Millions of €)
Connection between the Picasso building and the new terminal. 10.69
Minor projects and additional facilities for the new terminal area opening. 11.74
Processing of the expropriated areas-Third phase. 5.57
Dividing of CT1 Picasso 7.12
Complementary works for the Installation of the new generator sets and auxiliary systems. 6.13
Railway station 21.30
Link the airport with the South access road. 4.96
North access road and development. Phase 1: access to the future West ring road. 17.62
Environmental activities in the airfield. 2.15
Construction of underground passageway for handling vehicles in new airfield. 25.80
Adaptation works of car park building P2 3.60
4.2 most signiFiCant WorKs in Progress during 2010. malaga Plan
TITLE COST (Millions of €)
Access roads close to the terminal building and taxi rank. 7.16
Expansion of airfield. Civil work. 318.86
Expansion of airfield. Beaconing and electrical system. 35.38
South power plant. 23.99
4 MALAGA PLAN
Infrastructures
Annual report 2010 44
General Information
4.3 most signiFiCant ProJeCts Finished in 2010. malaga Plan
TITLE COST (Millions of €)
ATRP. Environmental activities in the current airfield. 0.14
ATRP. Remodeling the way runaway 13-31 and new INNER 0.25
Infrastructures
Annual report 2010 45
General Information
Aena is one of the four major air navigation service providers in Europe
Air Navigation
Annual report 2010
1. DEVELOPMENT AND EVOLUTION OF AIR TRAFFIC
One of the main objectives of Aena’s Dirección de Navegación Aérea is “to provide air navigation servi-
ces to satisfy the needs of costumers and society with the security, quality, efficiency and respect to the
environment, keeping in mind the development and satisfaction of our people and the development
of the air traffic”.
Despite to the economic situation, 2010 has been a good year for the Dirección de Navegación Aérea
referring to the air traffic volume. This year a total number of 1.890.391 flights were managed, it re-
presents an increase of 0,56% respecting to the previous year, breaking with the dropping tendency
of the previous years.
This good result has been achieved in 2010 despite a difficult world economic situation aggravated
by the eruption of Eyjafjallajoekull volcano and the spread of volcanic ash cloud in the air traffic
through the control Eurocontrol State Members that stopped the European air traffic between the
15th and the 20th of April.
2. EXTERNAL FRAME WHICH AFFECTS TO AIR NAVIGATION
2.1 NEW SINGLE EUROPEAN SKY REGULATION
In 2004, the European Union set off the Single European Sky initiative (SES) to achieve
an efficient air transport system based on the development and execution of a common
transport policy; and in the adaptation of a wide variety of measures: harmonization and
improvement of air navigation services in Europe. The airspace is reorganized according to
the air traffic, not to the national borders, and also by the support of the security levels in
all the European area.
All the European Union Member States must ensure the legislation and Directorates of the
Single European Sky. In that way the entry into force of them and its dispositions will be
automatically binding through the National Supervisory Authorities which ensure the super-
vision and application of the legislation. In Spain, Aesa (National Aviation Safety Agency)
was appointed as the National Supervisory Authority for civil Air Navigation, being the
competent body to audit, certify and supervise the Air Navigation service providers (AN) like
Aena, public entity in charge of civil Air Navigation services in Spain.
The Single European Sky Regulatory Framework is by composed four Communitarian Regu-
lations published in 2004, and keeps on improvement by the elaboration of new executions
DICNOVOCTSEPAGOJULJUNMAYABRMARFEBENE
180.000 6%
170.0005%
160.000
4%
150.000
3%
140.000
2%
130.000
1%
120.000
0%
110.000
-1%.
-2%.
-3%.
-4%.
-5%.
IFR 2010
IFR 2009
%10 VS. 09
air traFFiC volume in 2010 and 2009(air movements numbers)
Air Navigation
Annual report 2010 47
General Information
measures (Implementing Rules – IR) and Communitarian Specifications derived from those
regulations. The regulatory development of the Single European Sky initiative during 2010
has set a legislative package containing the following information:
Functional Airspace Blocks
Before finishing 2012, the States must establish the Functional Airspace Blocks (FAB), based
on the operating and independent requirements of national border, to improve the efficien-
cy of the European Network and to reduce the fragmentation in the air traffic service supply.
Air Navigation together with NAV Portugal is working to establish the SW-FAB (South-West
Portugal-Spain FAB).
European Performance System
In July 2010 the Commission Regulation (EU) No 691/2010 was passed and it establishes
the performance evaluation system for air navigation and net functions on key performance
areas (security, environment, capacity and profitability) of air traffic in EUR regions and AFI
of ICAO in which State Members are the responsible for the air navigation service provision.
The fixed period of reference in this Regulation is three years (2012-2014) for the evalua-
tion performance system in high-level European objectives that each State must assume,
developing a National Performance Plan. In Spain Aesa will be the Agency in charge of the
development.
Aena, as air navigation service provider and for the purposes of the performance evaluation,
should provide economic information, annual reports and the performance of the business
and annual plan. Aena also should fulfil the performance objectives established by the Na-
tional Performance Plan, having the Dirección an important influence in the intervention in
all areas.
European Economic Framework Transformation
The release of the Commission Regulation (EU) No 1191/2010 modified the price system in
the air navigation systems, showing that way the economic consequences of the evaluation
system. This is the end of the current system of total cost recovery by the air navigation system
providers and its improvement to a risk sharing model between providers and users.
Network Management
SES includes the creation of the network manager, whose appointment by the European Com-
mission is scheduled for mid 2011, assuming responsibilities in the coming years in areas such
as the development of the European route network or coordination of the scant resources (in
particular radio frequencies and radar codes), apart from those related to the Air Traffic Flows
in Europe (ATFM). The volcanic crisis occurred in April 2010 showed the need of a centralized
body that can handle a future crisis, which would be carrying in terms of resources, experts
and management by the network manager. Aena, whose procedures might be affected in an
important way by the establishment of this figure, take an active part in the design process of
their functions.
Along with the previously outlined, the following EU Community Regulations came into force
during 2010:
• Community Regulation (EC) No 73/2010. Establish requirements on the quality of aeronautical
information for the Single European Sky (ADQ, Aeronautical Data Quality).
• CommunityRegulation(EC)No255/2010Establish common rules on Air Traffic Flow Mana-
gement (ATFM, Air Traffic Flow Management), whose aim is to optimize the available capacity
of the European Air Traffic Management Network (EATMN, European Air Traffic Management
Network) and the upgrade the ATFM process.
General Information Air Navigation
Annual report 2010 48
• Community Regulation (EC) No 929/2010 amending Regulation (EC) No 1033/2006 rela-
tive to the Integrated Initial Flight Plan Processing System (IFPS), to adapt to the ICAO modi-
fications.
2.2. DEVELOPMENT Of THE SPANISH REGULATORY AND POLITICAL fRAMEWORK
The entry into force of Community Regulation regarding to the SES has led to changes into the
national regulation, both by creating new rules that affect the air navigation activity, as well as the
modification of some existing rules. The renewal of the Spanish political and regulatory framework
undertaken during 2010, whose aim was improving the quality of services and decrease its cost, are
described below according to their importance:
1. General framework
Regulation of Air Navigation Services. The publication of the Ley 9 / 2010 of 14th April set a new
framework for the action of the air navigation in Spain through:
Liberalizing Measures: that allow the entry of new civil air navigation service providers in aerodromes
which are certify and appointed by the competent authorities, as well as the provision of platform ser-
vice by non-controller personal and the establishment of Aerodromes Flight Information Systems (Afis).
Grants for the provision of air navigation services: safely, efficiently, continuously and economically
sustainable, which will be require to the ATS suppliers.
Economic measures: so that the costs of the aerodrome air navigation are incorporated to the costs
of the airport manager, and the en route tax is reduce to achieve in 2013 the average of the top five
European service providers.
Reorganization of controllers work conditions: ensuring the availability of the necessary personnel
to provide services in the new regulatory environment.
2. Institutional Framework
Aena new management model. The Real Decreto-Ley 13/2010 of 3rd December set out the prin-
ciples for the establishment of the corporation “Aena Aeropuertos S.A” in 2011. It will assume
Reglamento (EC) Nº 1070/2009
Reglamento (EC) Nº
549/2004
Reglamento (EC) Nº
550/2004
Reglamento (EC) Nº
216/2008
Reglamento (EC) Nº
551/2004
Reglamento (EC) Nº
552/2004
Reglamento (EC) Nº 1108/2009
Regl
amen
to (C
E) N
º 21
50/2
005
Regl
amen
to (C
E) N
º 73
0/20
06
Regl
amen
to (C
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º 25
5/20
10
Regl
amen
to (C
E) N
º 10
32/2
006
Regl
amen
to (C
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º 10
33/2
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Regl
amen
to (C
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º 63
3/20
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Regl
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to (C
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º 12
65/2
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Regl
amen
to (C
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º 29
/200
9
Regl
amen
to (C
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º 30
/200
9
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º 26
2/20
09
Regl
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º 73
/201
0
Regl
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to (C
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º 92
9/20
10
Regl
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to (C
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º 28
3/20
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Regl
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º 20
96/2
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Regl
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º 17
94/2
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Regl
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º 69
1/20
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Regl
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º 11
91/2
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Regl
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º 17
6/20
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Regl
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º 13
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º 66
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ess
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General Information Air Navigation
Annual report 2010 49
the functions currently exercised by the Entidad Pública Empresarial Aena with regard to the
management and exploitation of the airport services in the airports and heliports networks
managed by Aena.
3. Functional framework (provision, certification, designation and monitoring)
Liberalization of services supplies at aerodromes. Under the Orden Ministerial 3352/2010 of
22nd December, the airports managed by Aena where this entity will select new civil service
providers of air traffic control in the airports are determined. The Orden del Ministerio de Fo-
mento of 29th December published in the BOE, appointed the first 13 in the Aena network in
which the service in control tower will be liberalized: Alicante, Valencia, Sabadell, Ibiza, Jerez,
Sevilla, Melilla, Lanzarote, Fuerteventura, La Palma, La Coruña, Vigo and Madrid-Cuatro Vien-
tos. Aena has a month to start the public request for tender.
Certification for civil air navigation services providers. Under the Real Decreto 931/2010
of July 23rd, the procedure to obtain, update and modify such certification and its regulatory
control is regulated. Both competences belong to Aesa.
AfIS airports appointment. Under the Ordenes of May 19th FOM/1681/2010 and
FOM/2376/2010 of 10th August, the airports of La Gomera and El Hierro are appointed
as Airports with Aerodrome Flight Information System (AFIS) in order to provide air traffic
services.
4. Human Resources Framework of Air Navigation
Throughout 2010, many specific rules relating to air traffic controllers have been adopted,
among which this highlight the relevance of its content:
Real Decreto 1001/2010 of 5th August. It establishes rules regarding the aeronautical safety
according to the working time and the rest requirements of civil air traffic controllers.
Control Tower of Murcia-San Javier Airport
General Information Air Navigation
Annual report 2010 50
Ley 36/2010 of 22nd October. Amending the Disposición Adicional Cuarta of the Ley 9/2010 of
14th April, corresponding to the limits in the performance of operating functions, active reserve
status and retirement.
Real Decreto-Ley 13/2010 of 3rd December 2010. Its Disposición Adicional Segunda affects to air
traffic controllers: when the annual limit of aeronautical activity is calculated, other non aeronauti-
cal activities such as duty guards, training periods not counted as aeronautical activity, union leave,
leaves and absences due to work incapacity are not taken into account because they do not affect
the aeronautical safety limits.
Orden fOM/1841/2010 of 5th July. Develops the requirements for certification of civil training
providers of air traffic controllers.
Orden fOM/896/2010 of 6 April. Regulates the language proficiency requirement, and its evalua-
tion, required by the civilian air traffic controllers.
2.3. EUROPEAN SYSTEM DEVELOPMENT Y DEPLOYMENT
SESAR. Among the International programs, stand out the activity of the Navegación Aérea in Sesar
(SES ATM Research), the main Community initiative which will provide to the Air Traffic Management
system (ATM) with the necessary tools to deal with the growth in traffic expected in the coming years
and whose calendar is set in the Master Plan ATM.
Aena is involved in the Sesar Joint Undertaking (SJU), composed by the major players in European ATM
system, to develop and validate the future CNS / ATM European system, technological supports of the SES
and defined by SESAR program. The SJU coordinates and funds the research work, development and va-
lidation, contained in the ATM Master Plan. The objective is that between 2016 and 2020, after an indus-
trialization process, performing the progressive deployment of operational solutions and their technician
facilitators Throughout the year 2010 the launch of the SESAR program has been consolidated, and par-
ticipation of Aena on it: until the end of 2010, 91 projects have been launched with the participation of
Aena (combined R&D projects and sub-management packages) of which 85 projects are Air Navigation. Control Tower in Gran Canaria Airport
It has been working with NAV PT to formalize the future SW FAB, having been approved by
the SJU Board of Directors in its meeting on July 12th, 2010. Aena submitted the proposal
for NAV Portugal participation as an associate member at SJU. So in 18th October 2010 took
place the signing of Annex II to the Memorandum of Cooperation (MoC) between Aena and
NAV Portugal for the subcontract Sesar research assistance. It was agreed that NAV Portugal
participates in 32 of the 91 projects that Aena is involved, with a total participation of 3.4
million Euros.
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Annual report 2010 51
3. PERFORMANCE IMPROVEMENT
During the year 2010, the Air Navigation has been guided by the following medium-term
vision: “We want to be leaders in providing safe and quality air navigation services in a
competitive global environment, valued by our customers and society. In particular, we want
to achieve excellence as organization and having highly skilled, committed and satisfied
personnel”.
Aware of the difficult world situation that also affects our customers; we have focused our
efforts on strengthening on the security of our services, improving the quality offered, and
to increase our economic efficiency.
In this new legislative framework involving the change of scenery for Air Navigation, esta-
blished by the European Regulations, Aena has undertaken the structural reforms needed
to settle the shortcomings presented by the Spanish system earlier this year, from costs and
organization of the ATC the point of view. After a long series of actions linked to these re-
forms, we have obtained the yields below.
Note that some of these performances will be part of future NPP (National Performance
Plan) 2012-2014, required by the Regulation (EU) No. 691/2010.
Delays. In the area of capacity have occurred upsets during this year due to the combination
of several factors: bad weather, the ash cloud from the volcano in Iceland, the major change
that resulted by the implementation of the Ley 9 / 2010 14th April (which rules the air tra-
ffic services delivered in Spain), and etcetera. This caused that the performance in this area,
measured by the average per flight ATFCM delay in route, obtained an annual value of 1.93
minutes. This figure was particularly high in July and December. In December, the increase
was due to the incidents generated by the controllers on 3rd December 2010.Control Tower of Barcelona-El Prat Airport
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Annual report 2010 52
Productivity. By contrast, the measures achieved its objective in the productivity area rea-
ching an increase of 31% over 2009 and surpassing the target fixed to reach for 2010 of 0.54,
closing the year with a value of 0.68.
Cost and efficiency. In the cost and efficiency area and as a result of the efforts done and
structural measures taken, during the year 2010, there was a reduction in personnel expenses
subject to CCC by 35% regarding 2009, and the exploitation spend of the Dirección de Nave-
gación Aérea of 22,6% the same year.
Security. In the Security Area, both the security level and the index weighted maturity of se-
curity have increased. It has also managed to increase the level of reporting of accidents and
incidents to standardize methods in order to achieve a uniform Europe-wide measurement.
Air Navigation services . The high levels of continuity and availability of Air Navigation
services should be highlighted, regarding to the exploitation of CNS / ATM, both levels rising
above 99% in 2010.
Environment. In the environment area is remarkable the implementation of operations that
allow aircrafts fly more efficient according to profiles thereby reducing the CO2 emissions and
the noise pollution level in the flown areas.
These performances have been achieved thank to the constant technological improvement in
which Air Navigation is involved, and the efforts of our employees, whose numbers continue
rising, reaching a total workforce of 4326 employees at 31st December 2010. This number
is derived from increases of 0.54% of staff covered by the Collective Professional Agreement
and 2.41% of staff covered by the Aena Collective Agreement.
Professional development. As part of fulfilling the vision of Air Navigation, it has continued
to enhance the professional development of our staff keep on improving by maintaining the
training levels of previous, years.
4. MAIN DEVELOPMENT PROGRAME
The strategy of improving our services with the ultimate goal of providing greater efficiency to cus-
tomers is based on the development of different action programs in areas related to these services.
The execution of these programs result into financial resources that regarding to the application of
the Government Austerity Plan 2010-2013 have been reflected in the following investment budgets,
income and expenditure incurred in 2010:
INVESTMENTS:153,47 million Euros.
INCOMES:1.088 million Euros.
EXPENSES:881 million Euros.
The main actions carried out by the Dirección de Navegación Aérea to improve our services and
achieve the proposed performances are the following..
5. ORGANIZATION AND MANAGEMENT OF THE AIRSPACE SERVICES
This service involves the structuring, planning and management of airspace use, understanding
the rules and operational procedures, to ensure access to it according to the different users’
requirements.
General Information Air Navigation
Annual report 2010 53
In 2010 the Dirección de Navegación Aérea had the aim to reach the highest quality levels in
service performance improving the service delivery and in efficiency system keeps on its works
to optimize the route network and ATC sectorization. In 2010, the restructuration of the TMA in
Asturias concludes and their alternative manoeuvres, as well as the phase 1 of the direct –night
routes creation.
The efforts to introduce precision air navigation (PRNAV) in TMA and their associated instru-
mental in and out procedures (SID / STAR) in order that aircrafts can fly any path without any
restrictions, are being carried on. In 2010, in this area the initial studies of TMA in Palma and
Madrid have been made.
We continue with our strategy of responsibility towards the environment with different projects
to reduce the impact of air navigation services. In 2010, the first phase which establishes activities
related to the continues descent approach is finished (CDA-Continuous Descent Approach) that
allows the aircraft fly according to more efficient profiles, thereby reducing pollution from CO2
emissions and noise pollution. Furthermore, according to the civil / military coordination within the
project FUA (Flexible Use of Airspace), for joint use of airspace in order to establish procedures to
manage airspace shared in real time. In 2010, it has been completed the establishment of a new
permanent airway CDR-1 VLC / SADAF, as well as the fulfilment of several studies and validation
in the Southern Region.
«In 2010, the first phase which establishes activities related to the continues descent approach is finished»
In addition, Air Navigation is improving its radio aids to navigation network (which allow the air-
craft to be guided) according to the introduction of new navigation technologies and applications
with the clear aim of improving the service where is possible to reduce equipment and mainte-
nance costs. In 2010, in this area four NDB (Non-Directional Beacon) were removed and adapted
and / or replaced several VOR / DME (VHF Omni directional Range / Distance Measurement Equi-
pment). Also, they have replaced the ILS / DME (Instrumental Landing System) in Granada-Jaén
FGL (runway 09) and Madrid-Barajas (runway 33L), as well as an ILS has been installed in Zaragoza
(runway 30R).
EGNOS. The effort to develop new technologies is a critical factor for the future in the aids for
navigation. The emergence and development of GNSS (Global Navigation Satellite Systems),
whose evolution strategy already established ICAO in 1991, is changing the landscape. ICAO
has set requirements for the establishment of approach procedures PBN (Performance Based The Dirección de Navegación Aérea has invested almost 160 million Euros in 2010
General Information Air Navigation
Annual report 2010 54
Navigation) based on satellite technology. In Europe, the system based on satellite signals
increased SBAS (Satellite Based Augmentation System) and is implemented by the EGNOS
system.
ESSP SAS is currently the main services provider of the European Commission (whose contract
expires on December 31st 2013). Specifically, on July 12th 2010 took place the Declaration of
EGNOS Open Service (OS) by the EC, although the declaration of SoL Service (EGNOS Safety-
of-Life) is expected in the first half of 2011.
Aena’s strategy for participation in technological innovation programs operates through the
Dirección de Navegación Aérea, as a subcontractor of the ESSP SAS in 4 Subcontracts: Torre-
jón MCC, Torrejón NLES, the 5 RIMS in Spain (Gran Canaria, La Palma, Malaga-Costa del Sol,
Palma de Mallorca and Santiago) and “Egnos Training Entity” with Senasa.
Continuing in the field of satellite navigation, in 2010 it have continued developing activities
for the establishment of the operational procedures of GBAS CAT I in the runway headers 13
and 31 at Malaga-Costa del Sol Airport, advancing in the extension of the Aena certificate
provider of GBAS service according to the guidelines of EC Regulation 550/2004.
Due to the mentioned above, note the hard effort that is still necessary to carry out the pre-
vious studies, the development of different tools for operational analysis and the validation of
the all projects ending that are related to Airspace Management.
6. CAPACITY/DEMAND MANAGEMENT SERVICE
This service optimizes the relationship between capacity of systems and air traffic demand,
improving the use of the available capacity (maximum number of movements / operations of
aircrafts entering in a control area, fly to certain point and take off or land on an airport or
in a group in an hour) to ensure an optimum air traffic flow fulfilling the goals of maximum Control Tower of Malaga-Costa del Sol Airport
General Information Air Navigation
Annual report 2010 55
safety and without significant detrimental for the operation, the economy or the environ-
ment under normal conditions.
The Dirección de Navegación Aérea is working on the establishment of a modular sectorization
easily adapted in real time, in order to improve the fit of the capacity offered to the traffic flow.
This modular sectorization is developing in the project area FDP-iTEC by fixing predefined Functio-
nal Volumes (FV) which allow the adjustment of the ACC sectors (grouped, combined, subdivided)
to deal with different situations and workloads.
Moreover, the determination of capacity is fundamental to achieve an optimization of the air naviga-
tion system, which during 2010 has continued the development and evolution of multiple internal
analysis tools CNS / ATM according to the needs of the service.
• PICAPandPICAP+ (Research Program of Runway Capacity) Tool and methodology for
calculating runway capacity.
• NORVASE/MECANO: Tools, Methodology and Regulation for Sectors Validation and Ca-
pacity Calculation Method (Mecano).
• GENES: (Manager of New Structures Sector) Tools and Methodology for sectors design
using genetic algorithms.
• MICA: Integrated Model of Capacity from the point of view of the ATC activity.
• MENTOR(Demand analysis vs. SNA capacity).
7. AIR TRAFFIC SERVICE
With this service, Air Navigation arrange and sequence the air traffic providing the required
separation between aircraft and between them and any other obstacles; it provides advice and
useful information for the en route aircraft; it helps and notify the relevant bodies with regard
to the aircrafts that need help and rescue.
ASATC. The technological development and the automation of the air navigation system led
to the creation of the Automated System of Air Traffic Control (ASATC). During 2010, its evo-
lution has continued. One of the most important milestones is execution of a new version in
all ACC expanding all system functionalities. Also in 2010, new positions were put into service
in the beacon of the Asturias Tower.
One of the systems directly related to the provision of air traffic service is the Voice Commu-
nications System (VCS) which is currently in a change process in technology and international
standardization of protocols based on VoIP (Voice over IP). During 2010, in parallel to this
future development, a new version of VCS in the ACC Barcelona-El Prat, Madrid and Sevilla
has been deployed; in the East Towers and the provisional one in Barcelona; the North, South
and West Towers in Madrid-Barajas; the Tower of Malaga-Costa del Sol; and in the TACC of
Valencia. The VCS have also been extended starting up a new one in the Tower of Asturias,
with new control positions in the Tower of Málaga-Costa del Sol and new Voice Communica-
tions Systems recording in the towers of Almería and Jerez
Air Navigation Surveillance System. In the context of this system, necessary to maintain the
safety of air traffic by the tracking and identifying an aircraft throughout its trajectory, it conti-
nues expanding and improving the radar coverage. Particularly in 2010, a new MSSR station was
created (monopulse secondary radar) in Girona, a Mode-S MSSR was installed in Valdespina and
MSSR and PSR (primary radar) stations in Valencia have been updated. The surface surveillance
at airports done by Air Navigation is keeping on improvement. In Asturias, Barcelona and San-
tiago, Air Navigation had been installed surface radars (SMR) as well as a S-Mode Multilateration
System (SMMS) in Madrid-Barajas Airport
In the line of the evolution of this surveillance system is the project A-SMGCS (Advanced
Surface Movement Guidance and Control System) which also improves the control and gui-
dance on running off runways, aircraft ways and the apron, minimizing the incursion risks and
maintaining the operations in adverse conditions, especially in low visibility conditions. During
2010 the appropriate procedures in Madrid-Barajas have set off.
General Information Air Navigation
Annual report 2010 56
The Dirección de Navegación Aérea is carrying out a research program of advanced aeronautical
systems in which stresses, in 2010, the launch of Phase 3 of Sacco: system which implements
the ADS-C (Automatic Dependant Surveillance - Contract) and CPDLC (Controller Pilot Data
Link Communication) in the FIR Canarias. We must also mention the participation in the project
Optimi which analyzes the improvements in the tracking of aircraft in oceanic areas thanks to
ADS-C.
Aeronautical communications. They remain as one of the pillars that support the air traffic
service. On its ground-air shed, which set the controller-pilot communications, stands out as a
strategic project the reduction of bandwidth pilot-ground voice communication from 25 to 8.33
kHz to increase the number of available frequencies. Although Spain has no shortage of them,
the plight of other European countries has boosted that this solution is mandatory fulfilling the
FL195. According to the benefits, the measure is widespread in all flight levels by amending the
current rules, which requires preparation by all parties concerned. During 2010, it has been set
off new equipment in Randa (Mallorca) and Cuesta de la Reina (Malaga) stations; in complemen-
tary receptor centre in the Malaga-Costa del Sol Airport; in the Tower of the Asturias Airport;
and in La Gomera and El Hierro Airports in order to achieve their adaptation to AFIS.
Moreover, in its Ground-Ground side, Air Navigation has its own communications network to solve
the needs of data exchange between different systems, both national and international among the
different ANSP (Air Navigation Service Provider). One of the most significant strategic projects is the
connection of the 38 ANSPs Eurocontrol State Members through a common European network
called PEN (Pan-European Network), being Sita the selected company to provide the service. During
2010 in Air Navigation, it has been deployed the necessary infrastructures to interconnect the Air
Navigation network to PEN and it has achieved the milestone to migrate the EAD service to this
new network. At the same time, it is keeping on the expansion to the presence of its own network
in new units having a node installed in the new Tower of Fuerteventura. At the same time, various
links to ground-ground communication are being displayed. In 2010 radio links between Tenerife
and Gran Canaria became operational, the monitoring and management of the Ground-Ground
network communications at the Airport of Barcelona-El Prat were upgraded and the activities related
to optical fibber rings and radio relay were continued in 13 centres.
The close collaboration among Air Navigation and the Spanish Airports, is acting in a program
that seeks the integration of the airport network node in the ATM network by using the avai-
lable infrastructures. This is involved in several projects: the CDM (Collaborative Decision Ma-
king), having done previous studies in 2010 in Palma de Mallorca Airport; the DMAN project
(Departure Manager) which aims to optimize the take-off sequences to maximize performance
of the runways by minimizing the delays (being available for carrying out operational valida-
tion in the latest version of the deployed Sacta). Another action completed in 2010 was to
Espiñeiras Radar in A Coruña
General Information Air Navigation
Annual report 2010 57
achieve an increased on capacity and use of airport runways and the reduction of the impact
blockage area LEMD.
8. SERVICE INFORMATION FOR AIR NAVIGATION
The Air Navigation Service (AIS) ensures the process, management and user access to all rele-
vant aeronautical information, updated and validated needed for its operation. The AIS provides
aeronautical information necessary for aeronautical operations to be conducted with safety, re-
gularity and efficiency. All this information is published and distributed from the central services
of the Air Navigation.
NOTAM. Among the many projects underway, highlights the digital project Notam (Notam
system evolution in Europe nowadays) in 2010 by the specification of events to cover in the
first increment of implementation. Within this initiative has introduced the concept of Notam
Vilma developed by Aena, which incorporates part of the concepts of digital Notam and has
been recognized as a pioneer project in this area.
ÍCARO. Another automated system that Air Navigation is still evolving is the Icarus system (Inte-
grated COM / AIS / AIP & Automated Reporting System Office), which provides various services
to aeronautical users: information management about aeronautics -Notam-, previous newslet-
ters for the flight, weather information and presentation of flight plan messages. Throughout
the year 2010 it has started the Icaro service at the airports of Lleida-Alguaire, Afis tower of La
Gomera and El Hierro and in the Algeciras Heliport.
INSIGNIA Systems. Continuing the effort to develop the air navigation systems, Insignia sys-
tem has expanded its functionality (Geographic Information System for Aeronautical Informa-
tion) for the production of visual charts, reaching 62% in the data load on the system in 2010.
It has also evolved the system and work processes for the management and production of STAR
cards (“Standard instrument arrival”), as well as the management of aerodrome obstacles.
Under the agreement with the Universidad Politécnica de Madrid it has been presented the
viewer and its integration with metadata (Idea, aeronautical space data infrastructure) that is
connected to the Insignia aviation database, allowing a query and analysis of information AIP
through Web technologies. The prototype has shown that it can be a new, simplified and useful
way to distribute information..
Records related to the maintenance of Air Navigation Geographic Information and specific mapping
for the precision approaches ILS Cat II / III have been completed, resulting in maps in various formats
of 15 areas and airports.
It has been completed the first phase of the implementation of operations procedures for continuous
descent or green landing
General Information Air Navigation
Annual report 2010 58
Finally, in the area of the aeronautical information publication, the work of updating has conti-
nued, it has been published the TMA Asturias restructuring and alternative manoeuvres. It has
been completed about 50% of applications for aeronautical radio easements decrees for all the
navigation systems. It has been changed the processes of printing and mailing to press. Electronic
files are currently used for digital printing of publications edited by the AIS to improve the speed
lowering costs associated with printing.
9. FACILITATION SERVICE AND TECHNICAL RESOURCES
This Air Navigation service ensures the availability, operation and maintenance of technical
facilities and installations of air navigation system to support the aircraft operations.
Among the various initiatives aimed at improving and updating of air navigation infrastructures
carried out throughout 2010, stand out as significant the finish of the building and infrastruc-
ture support for the new TACC Valencia, the new receptors center of the Palma de Mallorca
airport, the redevelopment of the South Tower of Madrid-Barajas airport and the standardi-
zation of medium and low voltage facilities in the control tower and transmission station of
Asturias Airport.
Because the scope of the CNS / ATM system operation includes all the Airspace Navigation, it
is listed below only the generic actions taken in 2010. It has made central logistical support for
the SNA facilities, maintenance of air navigation systems for the regional units according to the
established procedures and methods, and have operated and maintained the systems (Redan,
Crami, Vilmet, Icaro XXI, Recon and COS Sacta), some of which are centralized.
It is emphasized the compliance of the planned periodic calibrations in flight of the NA facilities du-
ring the year 2010, making combined use of CECAG Calibration Units of the Air Forces, the Aena
Verification in Flight Unit and the External Unit CFI (Cobham Flight Inspection) through the current
contracts with these companies. Additionally, note that an increasing number of flight hours per-
formed Aena Internacional Verification in Flight Unit, according to the plan agreed with the DGAC
/ Aesa in June 2008.
10. EXCELLENCE IN MANAGEMENT
One of the commitments of the Dirección de Navegación Aérea is to achieve excellence in corpo-
rate governance, i.e. implement all the outstanding practices in the management of the organi-
zation.
In order to achieve it, it has been carried out numerous activities in the following areas.
SAFETY
Security is the reason for the air navigation service that makes it a fundamental part of all our
projects and a strategic line of its own. It is our goal to maintain the highest levels of security in
the Dirección de Navegación Aérea services, so in the course of 2010, there have been advances
in different areas.
While it has been working on the development of a standard for the security information
distribution according to the homogeneous procedures in the different Dirección centers,
progress has been made in the investigation and management of safety incidents standardi-
zing methods, improving the time research and reaching agreements with airlines to share
results.
In the security and notification studies Aesa in 2010, this process has spread among the or-
ganization, performing a larger number of studies or risk analysis in all areas, from technical
operations, systems and operations.
General Information Air Navigation
Annual report 2010 59
At the same time, the training in operational safety has been updated while it has been the
improved the company safety culture through various dissemination methods: internal web
site, informative seminars, own magazine about security, white book of safety culture publi-
cation, etcetera.
QUALITY
The Dirección de Navegación Aérea in his clear commitment to continuous improvement of
quality of service has maintained in 2010 the certification of quality management system
(SGC) according to the UNE-EN-ISO 9001:2008.
It is remarkable the Integration of Management Quality, Environmental, Physical Security and Opera-
tional Security Systems of the Dirección de Navegación Aérea carried out throughout 2010, leading
to the Integrated Management System.
A fundamental part of the improvements made in the quality management system is the customer
communication (questions, suggestions, complaints, claims-CSQR) that gives a better understan-
ding of their views on us and that Navegación Aérea maintains through different channels: cus-
tomer forum, portal Ovacna (Virtual Air Navigation Customer Office), internal committees and
electronic site which is accessible from the Aena web.
The formal consultation with airspace users materialized in the Air Navigation Customer Forum
(formed in Madrid on December 18, 2006, under the provisions of Regulation (EC) No 2096/2005
of the European Commission) was held on November 29, 2010 and in its regular annual meeting
representatives of major airlines and industry associations attended.
After the implementation of new procedures for communicating with customers during 2010,
it has been a significant increase in the received CSQR, a 1000% over 2009, mainly due to Radar Installation
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Annual report 2010 60
claims arising from incidents generated by the air traffic controllers on December 3, 2010:
from 942 complaints received, 633 have been motivated by this cause. In 2010 an effort was
made on the resolution so 65% of the submissions received have been closed within 20 days
as it is under the RD 951/2005 of July 29 in Chapter IV, Article 16 (Aena voluntarily embraced
by this Real Decreto
ENVIRONMENT
Air Navigation has a commitment with the society: the responsibility towards the environment. To
achieve it, we have continued our efforts in reducing electric energy consumption in our facilities and
the replacement of equipment containing regulated gases that deplete the ozone layer. In 2010, the
Dirección de Navegación Aérea has held the certificate of environmental management system (SGA)
according to the UNE-EN-ISO 14001:2004.
Additionally, we work to minimize the environmental impact of our services in two key pro-
jects. It has been completed the first phase of the implementation of continuous descent
manoeuvres (CDA) for a more efficiently aircraft fly, reducing CO2 pollution. In Madrid it came
into force on 26th August. It also continues to coordinate civil / military, including many policy
areas, implementing new airways and achieve more flexible management of shared airspace,
having implemented in 2010 a part of the restructuring of the airspace.
«The airports of La Gomera and El Hierro have receive the Afis service»
Madrid-Barajas Airport Control Tower
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Annual report 2010 61
Following the orders of May 19th FOM/1681/2010 and FOM/2376/2010 of August 10th that de-
signated La Gomera and El Hierro as airports with Aerodrome Flight Information System (AFIS),
these two facilities where Aena ran the Aerodrome Control Service (ATC-Airfield) have now the
AFIS service, provided by a navigation services provider different to Aena.
It has therefore been necessary at various levels to undertake a wide range of activities to reach the
operational transition of the La Gomera Tower (July 29, 2010) and El Hierro (September 23, 2010)
and for ATC + AFIS mixed service in El Hierro Tower (December 16, 2010).
INTERNATIONAL PARTICIPATION
Due to the cross-border air navigation, not limited only to the European level, it is part of the strategy
of the Dirección de Navegación Aérea to establish agreements and partnerships with other service
providers to improve the yields.
As part of European legislation, by 2012 the Members should establish Functional Airspace
Blocks (FAB), based on operational requirements, and independent of national borders. In regard
to Spain-Portugal FAB it has been closed in 2010, awaiting signature, Annex I to the Memo-
randum of Cooperation between Aena and NAV Portugal (2001) which aims the cooperation
in the development and recruitment of the respective systems FDP (Flight Data Processing) for
en route and approach control, SLICA, so as to meet the operational needs of both Aena and
NAV Portugal through the cooperation in i-TEC (joint NATS-UK - DFS-Germany-and Aena for the
development of future European interoperable automated control).
Also in the context of the Spain-Portugal FAB and within the operational level, in 2010 it has
finalized a set of eight projects for the restructuring of the airspace for which detailed studies
will be developed jointly during 2011.0
2010200920082007200620052004
Flights oPerated by navegaCión aérea(in million movements)
1,71 1,801,92
2,09 2,061,88 1,89
2,5
2,0
1,5
1,0
0,5
The Dirección de Navegación Aérea cooperates actively strengthening its position and which
exerts an increasingly coordinated international organizations such as Canso (World Organi-
zation of Civilian Air Navigation Services Providers), ICAO (International Civil Aviation Orga-
nization) , Eurocontrol, where is a member of ANSB (Air Navigation Stakeholders Group) that
manages the business plan of Eurocontrol, A6 (group of European NA providers that parti-
cipate In the SESAR program and members of the SJU: Aena, NATS, ENAV , DSNA, DFS and
NORACON) and AEFMP (group of air navigation service providers in Algeria, Spain, France,
Morocco and Portugal).
General Information Air Navigation
Annual report 2010 62
fLIGHTS IN THE fLIGHT INfORMATION REGIONS (fIR)
2004 2005 2006 2007 2008 2009 2010
FIR ESPAÑA 1.711.285 1.806.619 1.924.251 2.090.753 2.065.413 1.879.810 1.890.389
FIR PENÍNSULA 1.586.801 1.676.539 1.783.168 1.949.578 1.925.178 1.756.942 1.766.746
FIR CANARIAS 293.275 305.282 322.023 328.092 326.302 282.495 290.258
MOVEMENTS IN THE CONTROL CENTERS (ACC)
2004 2005 2006 2007 2008 2009 2010
ACC MADRID 922.982 975.768 1.038.625 1.135.146 1.134.465 1.042.793 1.051.234
ACC BARCELONA 792.192 837.376 883.765 984.309 955.717 866.757 867.525
ACC SEVILLA 363.363 400.951 424.703 455.281 441.849 396.868 402.495
ACC CANARIAS 293.275 305.282 322.023 328.092 326.302 282.495 290.258
ACC PALMA 244.880 250.985 273.172 289.076 283.702 261.651 265.201
«Throughout the year, both the European framework in which we find ourselves as in the national framework, have been highly prolific in rules and regulations so we are conducting a major restructuring in all areas of airspace to accommodate them and consequently, improve our yields. Throughout the year 2010 we have carried out numerous activities aimed to fulfil the commitments with our customers and society by actively participating in European cooperation projects as the company Común SJU, national cooperation projects such as FUA (Flexible Use of Airspace) within the civil / military cooperation in projects specific to the Dirección de Navegación Aérea and the promotion of economic efficiency and, above all, striving to achieve our vision of excellence in management. This task of adaptation will continue in 2011 because of its extraordinary importance and magnitude»
General Information Air Navigation
Annual report 2010 63
More than a hundred brands can be found, with businesses of acknowledged prestige
Commercial Spaces and Services
Annual report 2010
COMMERCIAL ACTIVITY
The Directorate of Commercial Spaces and Services is the Aena unit responsible for plan-
ning, developing and managing the different business lines that conforms its commercial
activity, optimizing those lines as well as improving continuously quality standards towards
our users. In this way, it contributes to the funding of the investments accomplished on the
whole of its airport network and at the same permits to maintain the competitiveness of the
airport fees.
Aena’s sales revenues for 2010 increased by 4.07% in comparison with the previous year (23.3
million Euros), reaching a total of 596 million Euros. The ratio of sales revenues per passenger was
3.11 Euros, which represented a 1.20% increase over the previous year.
The different business lines at Aena airports, which contribute to commercial development, are the
following: car parks, shops and duty-free shops, car hire, food outlets, managing lands (rentals),
advertising, fuel and business operations.
Our array of retail concessionaires comprises more than one hundred shops, including presti-
gious local and international companies and brands such as Aldeasa, Canariensis, Grupo Áreas,
Dufry, Aelia, Relay (SGEL), Zara, Mango, Mássimo Dutti, Becara, Adolfo Domínguez, Desigual,
Ferrari, Puma, Carolina Herrera, Rolex, Chocolat Factory, Picuadro, Imaginarium, Tous, Natio- Aena’s sales revenues for 2010 reached 596 million Euros, a 4.07% increase
«The ratio of sales revenues per passenger was 3.11 Euros»
Commercial Spaces and Services
Annual report 2010 65
General Information
nal Geographic, Adidas, Lacoste, Sibarium, Your Fashion Store y Superskunk, among others.
Likewise, in accordance with the market studies conducted, we are introducing prominent local
brands and products.
Concerning implementation actions, we can highlight the adaptations of the two duty-free
shops located in the Madrid-Barajas Airport (Terminal 4) and the Barcelona Airport (Terminal
2), respectively, in a way that now passenger fluxes can move through the shops (walk though
shops), favouring their profitability.
As for food outlets, there are international operators such as Grupo Áreas, SSP, Grupo
VIPS, Autogrill, McDonald’s, Pansfood, etcetera, with sings in our airport premises such as
McDonald’s, Burger King, Starbucks, Lizarrán, Subway, Häagen Dazs, Caffriccio, Ritazza,
and VIPS, among others. We can find concepts that meet user demand, covering a broad-
spectrum offer, as our current variety shows, ranging from fast food to restaurants whose
chefs have been awarded Michelin stars such as “El Madroño” (Madrid-Barajas Airport), “El
Gaig” (Barcelona-El Prat Airport) and “La Moraga” (Málaga-Costa del Sol Airport). This type
of service will be gradually expanded in those airports that demand it, as in the case of the
enlargement of the Alicante Airport in 2011.
«The chefs at ‘El Madroño’ (Madrid-Barajas), ‘El Gaig’ (Barcelona-El Prat) and ‘La Moraga’ (Málaga-Costa del Sol) have been awarded with Michelin stars»
Direct discount campaign ‘Two Free Euros’ was one of the outstanding promotional activities of the year
General Information Commercial Spaces and Services
Annual report 2010 66
The Car Hire Service is provided by national and international operators such as Avis, Hertz, Eu-
ropcar, National Atesa, Sixt, Europa/Gold Car, Record, Cicar, Special Car Autoreissen, Centauro
and Coral Car, among others.
The Advertising activity is currently allocated to the companies JC Decaux Airport España,
S.A., Publimedia and to UTE Publimedia Sistemas Publicitarios, as well as to Juan José Fuentes
Tabares S.L.
In 2010, long-term car parks began operating in Barcelona-El Prat, Málaga-Costa del Sol and
Santiago Airports.
Also, Aena develops promotions directed to employees and companions, by means of offers in su-
permarkets and in different services such as beauty centres, hairdressers, service stations and so on.
As for aviation fuel, new fuel storage facilities were brought into operation in the Logroño-
Agoncillo,Murcia-San Javier and Vigo airports.
Regarding the development of retail facilities in the passenger terminals, a number of actions
have been taken during 2010:
• New Terminal T3 in the Málaga-Costa del Sol Airport was brought into operation in April
2010. New retail floor space was established with 5.355 m2 for 23 shops and 5.881 m2 for
19 food outlets. The Duty-Free Shop, with 2.300 m2, is the biggest one installed in an Aena
airport. There is also a VIP Lounge with 1.900 m2 and 10 car hire premises.
• Definition and development of the whole of the commercial offer and the future services of
the Passenger Terminal Building of the Alicante Airport, which is estimated to be put into
operation in March 2011.
• Definition and development of the whole of the commercial offer in the Module C of the
Palma de Mallorca Airport, which will start operating around summer 2011.
With respect to the promotional activities put into action during 2010 related to our brand ‘Las
Tiendas del Aeropuerto’ (in Bilbao, Barcelona-El Prat, Menorca, Madrid-Barajas T4, Palma de Ma-
Direct discount campaign ‘Two Free Euros’ was one of the outstanding promotional activities of the year
General Information Commercial Spaces and Services
Annual report 2010 67
llorca, Ibiza, Sevilla, Tenerife Sur, Fuerteventura, Saragossa and Malaga-Costa del Sol Airports) and
carried out in order to increase the medium ticket, rise sales, encourage buying in our retail spaces
and establish brand; the following ones have been held: Book Week (in April coinciding with the
Book Day), Ibiza Summer Campaign (due to the opening of the new retail area), Scratch Cards
Campaign (with direct two-euro discounts with purchases of over 20 Euros or direct free gift va-
lued in 50 Euros), direct discounts (with gift vouchers) and Christmas Campaign (with decoration
and entertainment activities in the retail spaces).
In the sphere of marketing land, an assignment agreement for a 32.300 m2 terrain was signed
in favour of Iberia so that the company builds its new corporate headquarters.
In October 2010 Iberia Desarrollo Barcelona inaugurated its maintenance hangar in the
Barcelona-El Prat Airport. This new well-lit hangar, which cost more than 24 million Euros
and which has an extension of 24.000 m2 with a 13.200 m2 elliptical floor, permits multiple
configurations. Thus, it can accommodate from an A-380 plane to four A-321 planes simul-
taneously.
Likewise, several demand and marketing studies have been carried out in the areas next to the
airports susceptible to potential real estate development.
Sales revenues distribution by business line.In 2010 the total commercial activity grouped in business lines and ordered according to their
relative weight in comparison to the total sales revenues, has been divided in the following
way.
BUSINESS LINE VARIATION 2010/2009
Total sales revenues (%)
Duty-free shops 9.16% 18.02%
Car parks -1.00% 17.55%
Car hire facilities -0.03% 16.22%
Retailing 0.65% 16.00%
Food outlets 10.45% 12.59%
Rentals 3.36% 7.67%
Advertising 13.36% 4.66%
Fuel 6.95% 4.37%
Consumption 2.19% 2.72%
Lounges 246.28% 0.18%
Others 110.72% 0.03%
General Information Commercial Spaces and Services
Annual report 2010 68
Terminal of Puerto Vallarta Airport (Mexico)
Aena Internacional
Annual report 2010
AENA INTERNACIONAL
Aena Internacional takes part in the management of the infrastructure of 27 airports, distributed
around the geography of Latin America (Mexico, Colombia, Cuba and Bolivia), the European Union
(United Kingdom and Sweden) and the United States.
These transactions respond to different participation and presence schemes, where, generally, equity
stake in airport operators and a strong involvement in the managing and operating of the aforemen-
tioned infrastructures are combined.
The differential value of Aena Internacional contribution is the scope and diffusion of the knowled-
ge and the know-how developed in the operations of its headquarters in Spain, la Entidad Pública
Empresarial Aena, whose infrastructures and rendered services are a reference of world wide scope
within the sector.
The evolution of the airfreight in 2010 improved noticeably with regard to 2009, seriously affected
by the international crisis. The upturn in the worldwide passenger traffic initiated in the last quar-
ter of 2009 continued in 2010 and it was only interrupted by the Eyjafjallajokull ashes emission
in Iceland, which affected more than 10 million passengers in Europe and extending from there
to the rest of the continents. The increase in the passenger activity in the airport assets, in which
Aena Desarrollo Internacional takes part, amounted to 2.8% over the 47.6 million obtained in
2009 and reaching 48.9% in 2010.
The sector recovery and a continuous management strategy based on cost restraint allowed the
sector to finish the year with a positive evolution regarding operative results and net profit.
A special mention can be done to the achievement of the extension of the concession contract of the
Cartagena de Indias Airport for an additional period of 9 years, which will allow the implementation
of an ambitious programme in the aforementioned airport.
In the aeronautical service area, 2010 has been a year for the consolidation of the In-flight Verifica-tion Unit activity, overcoming 770 activity hours and rendering, satisfactorily, verification services of a wide range of radio-aids.
To conclude, the updating of our ISO 9001-2010 certificate for the activities developed has supposed the recognition of our eagerness to constant improvement and our commitment guarantee to our customers regarding quality.
AIRPORT SERVICES
Mexico
Grupo Aeroportuario del PacíficoThe Grupo Aeroportuario del Pacífico (GAP) runs 12 airports located in the Pacific region of Mexico among which we can highlight those that render service to important cities like Guadalajara and Tijuana as well as those located among the four more important Mexican touristic destinations: Puerto Vallarta, Los Cabos, La Paz and Manzanillo. The other six airports render service to cities like Hermosillo, Bajío, Morelia, Aguascalientes, Mexicali and Los Mochis.
These airports are located in 9 out of the 32 Mexican states; five of them render service to the capital cities of those states, covering a territory of nearly 566.000 Km2 and with a population near to 26 million inhabitants. All the airports are designated as international and six of them are among the ten most important Mexican airports.
«“The increase in passenger activity in the airports where Aena Internacional takes part amounted to 2.8%»
Aena Internacional
Annual report 2010 70
General Information
GAP airports are certified in Accessibility, Environmental Performance and ISO 9001: 2000 quality
standards.
Aena Internacional participation is carried out through the company Aeropuertos Mexicanos del
Pacífico (AMP), which is, at the same time, a strategic GAP partner. AMP owns 17.4% of GAP’s
capital and a contract for technical assistance and technology transference. Aena Internacional
is the AMP shareholder qualified as operator partner by the Mexican authorities.
GAP quotes on the Mexican and New York Stock Market, and it is one of the biggest private airport
groups in America.
Airport activityIn 2010 the GAP activity shows an upturn after the strong recession in the previous two years even when strong market adjustments are still noticeable, with special incidence, in GAP’s activity, of the Grupo Mexicana de Aviación liquidation.
The total number of passengers attended by GAP (transits excluded) registered a 4.86% upturn. The traffic of commercial passengers exceeded 20.2 million with a percentage composition of 65/35 national and international.
Operational activity has shown an upturn of 1.65% standing at a total of 411,674 operations.
Air cargo has shown an important recover reaching a total number of 160,485 tons which is a 27.09% more than the previous year.
All these factors as well as the strength of the commercial incomes and the strict cost control have influenced these excellent economic results achieved by the society.
Main actionsDevelopment master plans programs as well as additional investment plans have been carried on with an investment of 754 million of Mexican Pesos carried out the previous year.
2010 main actions were carried out in order to adapt the airport infrastructures to the OACI nor-mative, road surfaces and platforms restoration and the enlargement of the terminal building of Tijuana’s airport.
Concerning the commercial aspect, the enlargement of the commercial areas of Guadalajara and San Jose del Cabo were put into service with a new regulation on the number of passengers.
Aena Internacional Advising and Consultancy The Technology Transference Plan has been carried out with a special contribution in airport systems
formation and media for the GAP technical departments, (Animal control diagnosis, quality control,
methodology for the traffic forecast, etcetera).
Guadalajara Airport (Mexico).
General Information Aena Internacional
Annual report 2010 71
Colombia
Cartagena de Indias AirportCartagena de Indias city Airport is administrated by the Sociedad Aeroportuaria de la Costa S.A
(SACSA). In it, Aena International Development takes part as an operator partner sharing the 38%
of the capital.
In 2010 the number of passengers showed an upturn of 12.1% regarding the previous year. The
aforementioned upturn, as in the previous year, is due to the increase in the number of passen-
gers who flew with LAN Peru which began to operate in the year 2009 as well as to the increase
of flights carried out by Aerolineas Spirit y Aires.
Regarding national traffic behavior, Colombian airports saw the effect of the entrance of low
cost companies. In this way, the number of national passengers in Cartagena has shown an
upturn of 28.8% regarding the previous year, with high growth rates for the companies Aires
and Easy Fly, which began to operate the previous year. Furthermore, the main airline Avianca
kept its growth rate.
It is also important to highlight that, for the first time in the history of the Airport and since the
beginning of the franchise, had more than 2 million passengers, this is an upturn of 26.3% as com-
pared to 2009.
As a consequence of this, the profits of SACSA have shown an upturn of 17% regarding
2009.
Barranquilla AirportBarranquilla Airport is administered by the Aeropuertos del Caribe S.A society (ACSA) of which Aena
Desarrollo International is its operator partner and shares the 40%.
The number of passengers in the Barranquilla Airport showed an upturn of 31.7% due to the
increase of national and international flights. Domestic flights increased by 30.9% keeping the
low cost companies growth that began the previous year. Regarding international flights, they
increased by 38.6% due to new operational lines and to the new connection to Miami that
began in 2010.
As a consequence of this, the incomes of the franchise have shown an important upturn.
Cali AirportCali airport is administered by Aerocali Society S.A of which Aena Desarrollo International shares
33.34%.Barranquilla Airport (Colombia).
General Information Aena Internacional
Annual report 2010 72
Traffic augmented with respect of the previous year, reaching 3.42 million passengers. Domestic
passengers increased by 28% and international passengers increased 12.6%.
All these data, with the effort of Aerocali in order to improve the commercial incomes, as well as the
cost restraint lead to an increase of the society’s incomes.
TBI
Aena Desarrollo Internacional takes part in the company TBI P.L.C. through Airports Concessions and
Development Limited (ACDL) society, which shares the 100% of the first one.
TBI operates in property or concession in London Airport (Luton), Belfast and Cardiff in the UK; Or-
lando Sanford in USA; La Paz, Santa Cruz and Cochabamba in Bolivia; and Skavsta in Sweden. It also
has different operation and management contracts in USA.
Aena Desarrollo Internacional shares 10% of ACDL.
Worldwide crisis recovery allowed a weak upturn in the passenger number operated by TBI
airports, which moved from a 7.7% downturn in 2009 to a 5% decrease in 2010. TBI traffic
was seriously affected by the volcanic ashes in the UK airports and by the partial loss of the
company Allegiant in the Orlando Airport. Nevertheless, cost restraint and investment strategy,
the increase in UK airport fees and their excellent commercial income pushed up the net profit
until 14.3 million Pounds.
The decrease in the passenger traffic put the total passenger quantity for the group in 21.4 million,
contrasting with the remarkable increment of the three Bolivian airports (19%). The greatest traffic
falls took place in Orlando (Sanford), Cardiff and Belfast Airports.
TBI continued to apply a restraint policy in which most of the resources were essentially devoted to
maintenance actions.«Cartagena Airport franchise contract was extended for another 9 years»
Cartagena de Indias Airport (Colombia).
General Information Aena Internacional
Annual report 2010 73
Cuba
Aena Desarrollo Internacional developed the ‘Asesoramiento y Capacitación para la operación de los
aeropuertos de Ecasa” contract, with great incidence in 2010 in projects and tasks related to opera-
ting security and aerodrome certification.
AERONAUTICAL SERVICES
In-flight Verification Unit
During 2010 the In-flight Verification Unit of Aena Desarrollo Internacional rendered its verification
services on a regular basis overcoming the 700 hour minimum objective stated at the beginning of
the year.
The client portfolio included the Entidad Pública Empresarial Aena and Aeropuertos de Catalunya. The
number of flights this year reached 332 and, in total, flight hours amounted to 774.
The total number of calibration services provided by the unit was 158 (31 NDB, 50 VOR-DME, 5 DME,
23 ILS Category I, 1 ILS Category II, 20 ILS Category III, 7 PAPI, 18 sets of procedures and 3 radar chart).
Others
During 2010, participation strategy on the Galileo project, defined by the Ministry of Public Works,
was reformulated. As a consequence, the Galileo office at Aena Desarrollo Internacional disappears
redirecting its resources towards support maintenance activities in its matrix company in the aerial
navigation sphere.
Aena Desarrollo Internacional continued being the vehicle for Entidad Pública Empresarial Aena in
order to participate, with other European aerial navigation services providers, in the ESSP Society
(European Satellite Services Provider).
The In-flight Verification Unit provided 158 calibration services in 2010
London Airport (Luton).
General Information Aena Internacional
Annual report 2010 74
INTERNATIONAL ACTIVITY: BUSINESS PARTICIPATION
33,33% 40% 38% 33,34% 10% 16,67%
17,3 %
100%
Aeropuertos Mexicanosdel Pacífico
Aeropuertos del Caribe S.A.
SociedadAeroportuariade la Costa S.A.
Aerocali S.A. ACDL
London-Luton
Belfast
Stockholm-Skavsta
La PazCochabambaSanta Cruz
Orlando-SanfordRaleigh-DurhamMaconAtlantaBurbank
GuadalajaraTijuanaPuerto VallartaSan José del CaboHermosilloBajíoMoreliaLa Paz MexicaliAguas CalientesManzanilloLos Mochis
Barranquilla CaliCartagena de Indias
General Information Aena Internacional
Annual report 2010 75
Airbridges in the Seville Airport
Annual report 2010
Legal Information 3Annual report 2010
Bilbao Airport terminal
Audit Report
Annual report 2010
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Gangway in Lanzarote Airport
Management Report
Annual report 2010
PUBLIC BUSINESS ORGANIZATION “AEROPUERTOS ESPAÑOLES Y NAVEGACIÓN AÉREA” AND SUBSIDIARIES
1. ECONOMIC RESULTS
1.1. CONSOLIDATED RESULTS
The Operating Incomes from 2010 are slightly lower than those obtained in 2009, they have
reached 3,094 million Euros due to the freezing of taxes (both airport and air navigation
taxes) and the application of certain charge bonus during 2010 (see section 8.2 of this
report), as well as the impact resulted of the loss of control of Ineco (see Note 2.h of this
report) which means the no integration in consolidated accounts of their incomes, repre-
senting the 4.8% of the consolidated operating incomes In 2009. The largest contribution
to the consolidated incomes by operations comes from the parent Company Aena (99% of
the incomes of 2010).
The Operating Expenses decreased by 7.8% compared to 2009 fiscal year, mainly because
of the reduction of the expenses in personnel due to the implantation of the deep Structu-
ral Reform of the Air Navigation services explained in section 7.2 of this report, as well as
the no integration of the operating expenses of Ineco (4.4% in 2009), result of the loss of
control mentioned above. In addition, the rest of the components of the Operating Expenses
experimented moderate increases, despite the starting of several infrastructures (see section
6.2.1 of this report) due to the application of the measures to contain the expenses inclu-
ded in the Austerity Plan for 2010-1013 (see section 8.1 of this report). All of this leads to
a positive Operating Result of 31.1 million Euros in 2010, against the 223.1 million Euros
loss of 2009.
The negative Financial Results have decreased 12% during 2010 to 248.5 million Euros, due
to the decrease of the applicable interest rates.
Once the positive effect of the Corporate Income Tax is observed, the consolidated Result
of the fiscal year conferred to the Parent Public Company a loss of 145.1 million of Euros.
1.2. fINANCIAL AND ECONOMIC RATIOS
Main economic and financial ratios of Aena Group are the following:
RATIOS 2010 2009
SOLVENCY RATIOS
R. Long-term indebtedness Long-term debt/Own funds 3.73 3.06
PROFITABILITY RATIOS
EBITDA margin 30.15% 18.74%
Operating margin Results from Operations/Sales 1.05% -7.46%
Economic profitability: Profit from operations/Total assets 0.17% -1.28%
Legal InformationManagement Report
Annual report 2010 85
2. BUSINESS PERFORMANCE
2.1. AIRPORT BUSINESS
In 2010, Spanish airports recorded over 192.7 million passengers (2.7 more than in 2009), opera-
ted over 2.1 million flights (-2.4) and transported more than 652,000 cargo tons (15.5% more).
These figures reflect an increase of passengers and cargo compared to 2009 and a slight de-
crease of operations. A recovery of passenger and cargo traffic is observed, as well as a lower
operation decreasing trend.
2.1.1. PassengersA total amount of 192.7 million passengers used the Aena network facilities during 2010, that
reflects an increasing of 2.7% compared to 2009. From the total amount of these passengers,
191.7 correspond to commercial flights (2.8%). Among them, 115 millions of passengers used
international flights (3.9%) and 76.6 millions travelled on domestic flights (1.2%).
Among the main airports in terms of passenger traffic, Madrid-Barajas is still heading the net-
work, with 49.8 million passengers, 2.9% up from 2009. It is followed by Barcelona, with 29.2
million (6.5%), Palma de Mallorca, with 21.1 million (-0.4%); Málaga, with 12 million (3.8%);
Gran Canaria, with 9.5 million (3.6%) and Alicante, with 9.4 million (2.7%).
The largest growth percentages correspond to Ceuta Heliport with a 45% increase, and the
airports of Burgos, with a 21.2% increase; Zaragoza, with 14.7%; Santiago, with 11.8%; Fuer-
teventura, with 11.6%, and Ibiza, with 10,2%.
International passenger traffic increased up to 3.9% in the network during 2010. The air-
ports with the largest growth are Logroño-Agoncillo (642.3%), San Sebastián (107.2%), Vi-
toria (35.6%), A Coruña (20.4%), Zaragoza (19.7%), Fuerteventura (18.2%), Sevilla (16.7%),
Pamplona (13.3%) e Ibiza (13.2%).
From January 2010, a recovery in the monthly passenger air traffic can be observed in diffe-
rent airports as Madrid-Barajas, Barcelona, Gran Canaria, Tenerife Sur, Alicante, Lanzarote,
Valencia, Sevilla, Bilbao and Ibiza. During the whole year, several airports have been added
to the recovery so the year finished with an increase of the air traffic in over 50% of the
airports.
2.1.2. AircraftsDuring 2010, 2.1 million operations were performed in airports, which is 2.4% less than
in 2009. From the total amount of these movements, 1.8 million correspond to commer-
cial flights (0.1%), where 921,000 were domestic flights (-2.3%) and 903,000, international
flights (2.6%). Regarding the type of flights, 1.6 millions were scheduled flights and around
180,000 were charter flights (-0.1%).
Madrid-Barajas Airport is still the network’s largest airport in terms of traffic, with more than
433,000 flights (-0.3%), followed by Barcelona, with 278,000 operations (-0.4%); Palma de
Mallorca, with 175,000 (-106%); Malaga, with 106,000 (-2.0%); Gran Canaria, with 103,000
flights (-1.5%); Valencia, with 78,000 (-4.1%); Alicante, with 74,000 (-0.3%); Tenerife Norte, with
62,000 (-1.9%); and Ibiza, with 57,000 (-6.4%).
The most outstanding percentage growth in operations correspond to Ceuta Heliport, which
recorded a 46% increase (3,500 operations), and the airports of Lanzarote, 8.7% (47,000);
Fuerteventura, 8.3% (40,000); A Coruña, 7.0% (17,000), e Ibiza, 6.4% (57,000).
Regarding the number of international operations, some airports experienced growths, as those
of Fuerteventura (23.1%), Ibiza (14.9%), Valencia (12.1%), y Jerez (11.8%). Most of these opera-
tions were either originated in or destined to a European airport.
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Annual report 2010 86
2.1.3. Cargo652,000 cargo tons were transported in 2010, 15.5% more than the previous year, being 500,000
tons related to international cargo (23,4%) and 152,000 to domestic cargo (-4,8%).
By airports, Madrid-Barajas remained in first place, with over 373,000 tons (23.3%), followed by
Barcelona with 104,000 tons (16.1%); Zaragoza, with 42,500 tons (15.3%); Vitoria, with 28,000
tons (2.1%) and Gran Canaria, with 24,500 tons (-5,6%).
2.2. AIR NAVIGATION
The total amount of flights, (understanding by flight the trip in a route between an origin airport and
the destination airport), handled by Air Navigation in Spain was 1.89 millions during 2010, whereas it
was 1.88 millions over the course of 2009, which translates into a positive variation of 0.56%.
According to Eurocontrol data, the air traffic in number of flights recorded a 1.8% increase in the
mainland Flight Information Region (FIR) and 3.2% in Canary Islands FIR.
3. LINES OF BUSINESS
3.1. AIR CARGO CENTRES
The group company Centros Logísticos Aeroportuarios, S.A (Clasa) is in charge of building, mana-
ging and promoting cargo centres, in addition to conducting activities related to them, particularly
in Aena network airports).
At the end of 2010, the administrative concessions granted to Clasa by its parent company
consisted in the Modular Cargo Zone of Madrid-Barajas airport, the Air Cargo Area at Barce-
lona airport, plot 1.2 of Zaragoza Airport, two plots for logistics activities in Bilbao Airport,
two plots of developed land at Vitoria Airport, a plot of developed land at Palma de Mallorca
Airport and the Air Cargo Zone at Valencia airport.
It should be noted that the surface area of the buildings of the General Cargo Services of the
Madrid, Barcelona and Valencia (66.45%, 68.26 and 73.71%, respectively), were leased at
the end of the fiscal year 2010 with a total of 252 clients. The total surface area of the com-
mercial premises in the Cargo Centres of Madrid and Barcelona amounts to 2,394.87 m2. On
31 December 2009, 81.43% of this space in Madrid and 83.81% in Barcelona was leased.
The distribution and use of the offices buildings in Air Cargo Centres of the General Services buil-
dings is the following:
Air cargo centre Warehouses Nº of Clients
Surface area of plot m2
Surface area of building m2
Madrid-BarajasWarehouses for lease 4 62,630 34,848Warehouses assigned 33 201,846 109,812
BarcelonaWarehouses for lease 3 50,819 27,234Warehouses assigned 3 27,036 21,353
ValenciaWarehouses for lease 5+pif 20,099 9,367Warehouses assigned 2 17,094 7,597
379,524 210,211
Legal InformationManagement Report
Annual report 2010 87
Central buildings Total of m2
Leased surface area
m2
Leased surface area %
Leased Available Nº of clients
Madrid-Barajasoffices 15,210 10,107 66.45% 128 66 113premises 1,547 1,260 81.43% 5 3 5
Barcelonaoffices 9,254 6,184 66.82% 97 39 97premises 848 711 83.81% 2 1 2
Valencia offices 1,544 998 64.62% 22 21 13
28,403 19,259 67.81% 254 130 230
3.2. INTERNATIONAL
In the international sphere, it is important to highlight the visits and meetings with foreign delega-
tions in our airports, as the President of the ICAO the Regional Director of ICAO for North America,
Central America and the Caribbean; Minister of Transport of the Russian Federation, Portugal and
Vietnam; a delegation of members of the European Parliament lead by Magdalena Álvarez, as well
as different delegations from European airports and other continents. Furthermore, the 12th ACI
Europe Small and Medium sized Airport Action group (SMAG) Conference was celebrated in Santia-
go Airport, in October 2010, and the Conference of the European Commission SES II took place in
Madrid in February 2010.
In addition, in 2010, the President of the parent Company Aena, Juan Ignacio Lema, has continued
with his active participation in the meetings as member of the Airports Council International, ACI
Governing Board while the director of Spanish Airports continued as member of the European Board
of ACI Europe.
Regarding the Directorate of Air Navigation, the following activities should be highlighted:
SESAROver the course of 2010, the launch of the Sesar Program was consolidated, as well as the partici-
pation on it of the parent Company AENA.
• The total amount of projects launched with the participation of the parent Company Aena
until the end of the same year is 91, adding R&D projects and management subprojects.
From this total, 84 delivered their PIR (Project Initiation Report) or MIR (Management Ini-
tiation Report) and 75 out of these have passed the execution phase.
• The parent Company Aena has participated effectively in the verification and validation strategy
of the SJU and the Sesar validation activities set, to be performed in the next two years in Aena
facilities (from Releases 1 and 2), was internally approved.
• Also, the agreements of collaboration with Crida and Ineco as subsidiaries of the parent
Company Aena were signed and the services provider NAV Portugal has been added as asso-
ciated of Aena by the signing of a “Research Subcontract” in November 2011.
OTHER INTERNATIONAL ENDEVOURSOne of the aims of Air Navigation is to increase its influence in the international arena. For this end,
actions were taken during 2010 in the following fields:
• To boost international relations at institutional level, high-level, bilateral meetings were
held with the President of ICAO Council, the Chief Executive of Canso, the Director Gene-
ral of Eurocontrol, ATCA Japan, Enav and high-level meetings EC3, CECM and other Canso
groups were prepared and attended. Support was given to the participation of the Direc-
ción de Navegación Aérea (DNA) in the ANSB Committee (Air Navigation Service Board) of
Eurocontrol.
• Participation of Air Navigation in regional programs (AEFMP, ICAO) was coordinated.
• Active participation in all the European work groups, which establish the priorities of de-
ployment based on the content of the European ATM Master Plan (IP1 Steering Group of
the EC, the SCG of Eurocontrol and SJU), given its direct impact in the investment plans of
Air Navigation.
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• Active participation in Canso in order to be influent and protect the Air Navigation interests. In
the last General meeting that took place in June 2010, the President-Director General of Aena
was named as new member of its Executive Committee.
• The offers/proposals related to international activities of strategic interests were executed and
coordinated.
• In addition, the providers managing most of the European traffic (Aena, NATS, Enav, DSNA,
DFS and Noracon) and that participate in the development of the Sesar program within the
group (A6) had been collaborating in the SJU work activities program (Sesar Joint Undertaking),
expanding the field of their collaboration to activities of deployment of the Sesar program. This
collaboration is a strategic element for the organization.
• Between 9th and 11th March 2010, the Annual Forum ATC Global took place in the Dutch city
of Amsterdam, in which Aena participated with a stand of 108 m2 where the installation of a
position of the air traffic control system Sacta outstood.
3.2.1. Aena InternacionalOver the year 2010, Aena Internacional actively participated in the management, under different
lines, of 27 airports in Latin America (Mexico, Colombia, Cuba and Bolivia), the European Union
(United Kingdom and Sweden) and the United States of America.
The evolution of the air transport market in 2010 improved notably compared to the previous year,
severely affected by the international crisis. The recovery of the world passengers started in the last
quarter of 2009 continued during 2010 and was only interrupted by the effect of the Icelandic vol-
cano ash emission that affected to 10 million passengers in European routes and, from these routes,
to the rest of the world. The increase of the passenger activities in the airport assets, where Aena is
involved, rose by 2.55% over the 47.6 millions of 2009, reaching 48.8 millions in 2010.
The increase on the passenger traffic in the Mexican airports was 4.86% compared to the previous
year. In the TBI airports set, a decrease of 5.07% was recorded.
Colombia airports presented an increase of 24.98% compared to 2009, reaching around 7.1 million
passengers.
The recovery of the sector and the continuity of the management strategy based on the cost con-
tainment produced a positive evolution in the results.
In general terms, Aena Internacional has continued providing support services and technical assis-
tance in those airports where it is present and specially those where Aena is the responsible operator
partner.
In the aeronautic services area, 2010 was a year of activity consolidation for the In-flight Verification
Unit, reaching 770 hours of activity.
It must be highlighted the consecution of the extension of the Cartagena de Indias Airport conces-
sion for an additional period of 9 years.
Finally, the good behaviour of the interest rates and the Euro/USA Dollar exchange rate has contri-
buted to the good results of the Society in 2010.
MEXICOParticipation of Aena Desarrollo Internacional, S.A (Aena International Development) in the Grupo
Aeroportuario del Pacífico (GAP), which operates 12 airports in Mexico, is administered through the
company Aeropuertos Mexicanos del Pacífico (AMP).
In 2010, the GAP activity shows a recovery after the strong recession of the two previous years,
despite of the hard adjustments of the market, with special impact in GAP activity the bankruptcy of
the Grupo Mexicana de Aviación.
The total amount of passengers attended by GAP (transits excluded) recorded 4.86% rise. The
commercial passenger traffic went beyond 20.2 millions being 65% of them domestic and 35%
international passengers.
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The operation activity had a rise of 1.65%, reaching a total amount of 411,674 operations. In
air cargo, there was an important recovery, having a total amount of 160,485 tons, 27.09%
more than the previous year.
All these factors, as well as the strength of the commercial incomes and the strict control of
costs have influenced in a wide upgrade of the economic results of the society.
Main endeavoursThe relevant Developmental Master Plans and additional investment plans were persistently
implemented, with an executed investment over 754 million Mexican Pesos.
Las principales actuaciones en 2010 se han realizado en la adaptación de las infraestructuras
de los aeropuertos a la normativa OACI, la rehabilitación de pavimentos en pistas y platafor-
mas y la ampliación del Edificio Terminal del Aeropuerto de Tijuana.
Regarding sales, the expansions of the shopping areas in Guadalajara and San José del Cabo
have continued leading to a new order of passenger flows.
Aena Internacional Advice and Consulting The projected Technology Transfer Plan was developed with a special contribution to the
training in airport systems and support to the technical departments of the GAP (diag-
noses of animal control situation, received quality control, traffic forecast methodology,
etcetera).
COLOMBIAAena Internacional participates, as operator partner, in Cartagena de Indias, Barranquilla and
Cali airports with shares in the capital of 38%, 40% and 33% respectively in the managing
societies: Sacsa (Coast Airport Society in Cartagena de Indias), Acsa (Caribbean Airports So-
ciety in Barranquilla) and Sociedad Aerocali S.A. in Cali.
Activities at these airports evolved favourably during 2010:
• Sacsa. In 2010, the international passenger traffic rose of 7.6% compared to the previous year.
Regarding the behaviour of the domestic traffic, the Colombian airports had the effect of the low-
cost airlines set up during the last two years. This way, domestic passengers in Cartagena have been
increased by 33.15% compared to the previous year. There is one fact needed to be highlighted,
for the first time in the Airport history and from the beginning of the concession, more than 2
million passengers were transported, what is a rise of 27.9% over 2009. The result of the increase
was that the Sacsa operational incomes had an increase of 19% compared to 2009.
• Acsa. The passenger traffic of Barranquilla Airport had a total increase of 26.75 due to the growth
of domestic and international traffics. Domestic traffic rise by 26%, and maintained the growths of
the low-cost airlines traffic set last year. Regarding international traffic, had an increased of 34%
due to the set-up of new international routes and the new Miami connection in 2010. The conces-
sion incomes, consequently, had a rise of 27.1%.
• Aerocali. Traffic increased compared to the previous year, reaching 3.35 million passengers. The do-
mestic passengers increased by 28% and the international, 11%. All mentioned before, along with the
efforts of Aerocali to improve the commercial incomes and contain the expenses had the result of the
increase of 8% in the incomes and the improvement of 9.7% in the operating result of the society.
CUBAAena Desarrollo Internacional S.A developed the contract for “Advice and training for operating Ecasa
airports” with special attention in 2010 to the projects and works related to the operational safety and
certification of airports.
TBIAena International participates in the company TBI P.L.C through the society Airports Concessions and
Development Limited (ACDL), 100% shareholder.
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Either as owner or through a concession, TBI operates the airports of Luton, Belfast y Cardiff in the
United Kingdom; Orlando-Sanford in USA; La Paz, Santa Cruz and Cochabamba in Bolivia and Ska-
vsta in Sweden. It also has different operating and managing contracts in U.S.A.
Aena International has the 10% shares of ACDL.
The recovery of the global economic crises had the result of a weak increase of the passenger traffic
in airports operated by TBI that dropped from 7.7% in 2009 to 5% in 2010. TBI traffic was severely
affected by the ash emissions in the United Kingdom airports and the partial loss of the Company
Allegiant based in Orlando Airport. Nevertheless, the strategy of cost and investments containment,
the increase of the fees in United Kingdom airports and its good commercial results made the effect
of boosting the net profit to 14.3 million Pounds.
The decrease in traffic made the total number of passenger reached 21.4 million, but the number
increased in the three Bolivian airports (19%). The most significant drops were recorded in Orlando-
Sanford, Cardiff and Belfast airports.
TBI still applied the investment containment policy using the resources, basically, in maintenance tasks.
AERONAUTICAL SERVICES
In-flight Verification UnitIn 2010, the In-Flight Verification Unit of Aena Internacional (UVV) provided its verification services
regularly surpassing 700 hours of flight established as a goal at the beginning of the year.
The client lists included Aena (755 hours of flight) and Aeropuertos de Cataluña (19 hours).
The total amount of flights performed in 2010 were 332, during which 158 calibration were perfor-
med (31 NDB, 50 VOR-DME, 5 DME, 23 ILS Category I, 1 ILS Category II, 20 ILS Category III, 7 PAPI,
18 procedure sets and 3 radar charts).
OthersDuring 2010, the strategy of collaboration in Galileo project stated by the Ministry of Public Works
was reformulated. Consequently, the Galileo office of Aena Internacional disappeared and its re-
sources were given to activities to support its matrix in the field of Air Navigation.
Aena Internacional continued being a mean of Aena EP for the participation, along with different
European providers of Air Navigation services, in the Company ESSP (European Satellite Services
Provider).
3.3. AIR NAVIGATION
Aena is committed to reach maximum levels of quality in the services provided by continually improving
the system efficacy and efficiency. The operational services provided are: air space organization and
management, capacity/demand management, air traffic control and aeronautical information for air
navigation.
In order to increase in efficacy, it aims to reduce the delays caused by the Spanish Air Traffic Ma-
nagement System, improving the offer in terms of number of operation during demanded periods
and times, offer the possibility of select the prefer route and optimize the capacity management and
traffic flow by meeting user’s real time requirements.
3.3.1. Technological Development and Technical ExploitationWithin the field of development and technical exploitation of infrastructures, Aena seeks to appro-
priately provide the facilities and technical means that guarantee the optimal support to the aircrafts
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in terms of disponibility, operation and maintenance of technical means and facilities of the air na-
vigation system.
The changes in the strategy regarding the technological development and the technical operations
are the following:
• To optimize the planning processes, sizing and deployment of infrastructures and Air Navigation
systems to meet operational meetings, productivity and profitability criteria, synergies and oppor-
tunities of improvements and overall interoperability.
In general, for all tasks related to the technological development, deployment and technical exploi-
tation of the infrastructures, the following actions are taking in collaboration with the Dirección de
Operaciones:
• Definition of the operational requirements.
• Validation of operations (only for the ATM automatization system).
• Launch of operations.
The most relevant actions taken in the technical development and technical exploitation area are
listed below, grouped into main areas:
Integrated management of the aeronautical information• Implementation of a Pan-European network services (PENS).
• Improvements in management and services of information/data interchange.
Excellence in management• SES certified maintenance (and expansion to other services when required).
• Adaptation to SESII provisions frame.
• Implementation of new services models.
• Consolidation of planning processes and measuring and evaluation systems.
• Improvement and maintenance of SSCCNA building infrastructures.
• Implementation of a Quality Management, Safety and Environmental Integrated System.
• Constant upgrading in procedures and internal processes.
• Improvement of Information Systems infrastructures (HW, SW, Communications).
• Development of the economic model of Air Navigation.
Alliances / Agreements with other air navigation services providers• FAB South West España-Portugal (FAB SW).
• Strengthening of Air Navigation influence internationally.
Optimization of air space management• Optimization of the routes network and ATC sectors.
• Dynamic and flexible sectors management.
• Introduction of precise navigation in terminal areas (TMA).
• Civil/military coordination for the air space (FUA)
• Application of constant descent procedures.
• Introduction of precise approximation procedures based on GBAS.
• Complexity management.
• Adaptation of operations to the new regulations.
• Operations optimization.
• Infrastructures and assistances to air navigation and control.
CNS Infrastructures evolution• Data Link: Introduction of services based on data link.
• Bandwidth reduction (8.33) under FL195 for communications pilot-land.
• Land communications network: Redan progress.
• Introduction of Voice over IP (VoIP).
• Regulation and Broadcasting.
• Progression of in-route and TMA surveillance.
• Progression of airport surveillance systems.
• Rationalization of the radio aids network.
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Development of Sacta system• Development of ATM information system.
• Strategic ATC management.
• Tactic ATC management.
• Security networks.
• Updating of ATM infrastructures.
Exploitation of the Air Navigation System• CNS and ATM support infrastructures.
• CNS/ATM Systems exploitation.
Introduction of the airport node into the ATM network• Collaborative decision making (CDM) procedures.
• Improvement of the capacity and use of the runways.
• Improvement of the surveillance, control and guide in streets and platforms (A-SMGCS).
Operational improvements validation• CNS/ATM analysis tools.
• CNS/ATM scenarios analysis.
• Operational validation of ATM projects.
It is important to mention that the decision made by the Spanish Minister Council in their
meeting held on 3rd December 2010 will have far-reaching implications for an immediate fu-
ture as they approved the Real Decreto 13/2010 that establishes the legal frame to modernize
and deregulate the airport management system. It is planned to create a State Company for
assuming the Aena airports management stating a new commercial and business structure,
which will allow the entry of private capital, always maintaining the statal character of most
of its capital.
Therefore, the main strategic lever is the New Model of Aena Management, already started with the
air navigation structural reform.
According to this planning frame, the strategic general objectives are grouped in five strategic ma-nagement lines: safety, quality and environment, infrastructures and services, economic efficiency and financial viability, people.
4. SAFETY
Aena and, in this case, the General Safety Plan sets out all the aspects of safety in its facilities, ope-rations and services.
The General Safety Plan addresses the improvement of overall safety in three groups:• Operational and auto protection safety (safety)• Security of persons and property (security)• Work risks prevention
4.1. OPERATIONAL AND AUTOPROTECTION SAfETY (SAfETY)
Regarding operational and auto protection safety (safety), actions were taken in the following fields:
MANAGEMENT SYSTEM FOR THE OPERATIONAL SAFETYOver the course of 2010, the Management system for Operational Safety (SGSO) was implemented in 37 airports of Aena Network. In another 9 airports and 2 heliports the SGSO was defined and is in its final implementation phase.
The Development Commission approved the Draft Law on Operational Safety for the Civil Avia-tion that establish the State Program for Operational Safety (Peso), modifying the regulation of the Commission for Investigation of Civil Aviation Accidents and Incidents (CIAIAC), and adding a new relation of administrative infringements in the field of the air navigation control which states the disciplinary measures for severe offences resulted from actions putting the air security at risk.
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CERTIFICATION PROCESS OF AIRPORTS IN THE AENA NETWORK Regarding Airports Certification Plan, the certification for Algeciras Heliport was obtained, Ibiza
Airport kept the certification and the certifications for Madrid-Barajas, Barcelona and Jerez airports
were applied.
AUDITS BY THE EUROPEAN COMMISSION AND THE STATE AGENCY FOR AIR SAFETY (AESA) In 2010, the European Commission audited Gran Canaria airport in two visits during April and March
with a positive result. Also, in September, the European Commission was auditing Aesa in Alicante
airport.
Over the course of 2010, Aesa performed a total of 29 audits and inspections in different airports
and heliports of Aena network.
The Dirección de Seguridad Aeroportuaria performed compliance verifications for the Safety
National Program in 30 airports and heliports. In addition, non-programmed actions were
taken in different airports where the presence of the Dirección de Seguridad Aeroportuaria
were required for the elaboration and implementation of operative upgrade measure, tests,
implementation of correction actions and optimization of the resources used for the perfor-
ming of airports safety services.
In 2010, the following laws must be highlighted due to their importance:
- Orden PRE/1366/2010, of 20th May, by which modifies the Reglamento de la Circulación Aérea
Operativa, passed by the Real Decreto 1489/1994, 1st de July.
- The Real Decreto 629/2010, of 14th May, that modifies the Real Decreto 398/1988, of 13th
March, by which regulates the investigation of civil aviation accidents and incidents in order to
modify the composition of the Commission for the Investigation of Civil Aviation Accidents and
Incidents.
4.2. SECURITY Of PERSONS AND PROPERTY (SECURITY)
Regarding the protection of persons and goods (security), the actions taken are listed below:
INVESTMENTS ON SECURITY EQUIPMENTAs regards security equipment, in March 2010 operations began successfully at Malaga Airport
new Terminal T1, with cutting-edge equipment for inspection of passengers, employees and hand
luggage and baggage. Following with this, in 2010, the equipment for the new Terminal of Alicante
Airport for filtering passengers and employees and the System for Treatment and Inspection of Ba-
ggage were installed.
The equipment for the new terminals of La Palma, Santiago and the expansion of the Terminal
and new building for luggage of Fuerteventura Airport was also installed.
In addition, and apart from these large expansions, it has been keeping with the renovation of the
equipments in the airports network and with the cover of new needs.
Following with the progressive incorporation of new equipment, shoe metal detectors conti-
nued being installed, in this way more than 125 detectors in other 28 airports were added to
the 126 already installed in 2009 at Palma de Mallorca, Madrid-Barajas and Barcelona airports.
This upgrades the passenger inspection procedure improving the flow of passengers through the
filter and increases the passenger comfort.
PRIVATE SECURITY SERVICEBetween December 2009 and January 2010, safety regulations were set up and updated in all air-
ports except in Madrid-Barajas, Barcelona, Burgos airports and Ceuta Heliport. This security process
monitored improved quality services and needed requirements.
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In Madrid-Barajas this security regulation contract was executed last November 2010.
AIRPORT SECURITY TRAININGThree courses on airport security were given to Aena’s personnel to according to the Spa-
nish Airport Training Program in 2010. This training was provided to Aena’s personnel who
are responsible for airport safety and/or fully or partly involved in safety-related tasks at
work.
Besides, there are also online courses which are divided into two modules: basic knowledge course
oriented to Aena’s personnel in general; and advanced specific course for the airport’s personnel
whose tasks are linked to security, even if they are not part of the security department itself, but their
job involves security at some point.
4.3. WORKPLACE RISK PREVENTION
EAccording to Workplace Risk Prevention policies, Aena only registered a 9.01% Workplace Acci-
dents Rate (number of accident per thousand workers), that is was a drop of 2.9% compared to
2009’s accident rate at workplace.
Also, the goals about the number of risk evaluation set in the Operational Plan 2009 were achieved,
making a 25.7% more than in the previous year.
Workplace Risk Prevention training courses entailed 33,348 teaching hours in Aena, for both Collec-
tive Agreements..
5.QUALITYANDENVIRONMENT
5.1. QUALITY
The Aena Quality Plan continued to be implemented in 2010, with the following results:
• According to UNE-EN ISO 9001:2008 Quality management systems standard, the Aena As-
sociated Companies were awarded in the second audit on Quality Management Systems.
Nowadays, 43 airports have the updated certificate of UNE-EN ISO 9001:2008 standard.
Also the Dirección de Navegación Aérea (Spanish National and Regional Headquarters) ob-
tained the Integrated Management System certificate: Quality, Environment and Security
and (physical and operational).
• Aena’s personnel attended to Quality, Environment and Management Excellence training
courses, thanks to the Spanish Association for Standardisation and Certification (AENOR),
and the Club of Management Excellence and the Spanish Association for Quality.
• The European Model for Excellence (EFQM) was used as reference framework in 2010 to
perform the four self-evaluations in Almería, Bilbao, Lanzarote and Pamplona airports.
• Madrid-Barajas Airport obtained the EFQM Excellence Award 400+ Seal of the Club of
Management Excellence and the Ibiza Airport was awarded with the Excellence Award for
Public Management by Aeval (Spanish National Agency for Evaluation and Quality of Ser-
vices).
5.1.1 Corporate Social Responsibility (CSR) The Corporate Social Responsibility area was created in 2010 as a consultancy area specialized in
CSR. One of its major goals is to implement a CSR Policy within the organization and this support
Strategy was approved by the Aenas’s Board of Directors in November 2009.
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The Deployment of CSR Strategy and Policy in Aena involved a 4-phase structure. These four phases
were developed simultaneously and included 14 tasks.
In 2010, Aena performed several actions in order to integrate and deploy CSR policy and also coor-
dinate the rest of the company units.
All performances were carried out thanks to the support and collaboration of the CSR work teams,
formed by all Aena’s representatives.
5.1.2. R&D&iAena wants to reflect the effort made by the organization in R&D&i, as well as the focused aim on
long-term sustainable development, based on knowledge and commitment of Aena with clients,
providers, employees and general society.
The annual report concerning these research studies performances analysed the degree of execution
and development for Aena’s Directorate, Ministry of Public Work, Science and Technology and other
bodies involved.
Aena collaborated in 2010 last quarter to create the National Innovation Strategy (E2i) in the Program
assigned to the entity, called Modernization Program for the Spanish Airports and Air Navigation.
Other R&D&i performances:
• Aena’s participation in Premios Cinco Días (Awards to Business Innovation) in 2010.
• Quarterly Newsletter to instigate innovation, knowledge and to share information about aero-
nautical R&D&i news and events.
This growing interest of Aena in innovation and new technologies enable the creation of several
projects. The most outstanding projects are:
• Air Navigation. The SESAR (Single European Sky ATM Research) programme is one of the most
ambitious research and development projects ever launched by the European Community. The
programme is the technological and operational dimension of the Single European Sky (SES)
initiative, Egnos and Galileo projects to meet future capacity and air safety needs.
• Airports. Automatic Baggage Handling Systems (State).
• Other areas. Airport Information System of Satellite Ortho-Image (Saos) includes projects about
energetic consume awareness and renewable energy within this energetic efficiency framework
oriented to people’s security and facilities through new information technologies or plans provi-
ding information and special services to persons with reduced mobility (PRM).
• Reference Center for R&D&i for Air Traffic Management (CRIDA): created with to analyze and eva-
luate concepts, procedures and systems to be introduced as tools to provide air traffic services..
5.2. THE ENVIRONMENT
In connection with Environmental Protection, which is one of Aena’s strategic objectives implemen-
ted in all work areas, the following actions were performed in 2010:
5.2.1. Environmental certificationUnder the UE-EN ISO 14001:2004 all Aena airports have environmental certificates. Also, the Aena
Headquarters and the Dirección de Navegación Aérea in its Integrated Management System fulfils
the environmental requirements.
5.2.2. Soundproofing ProgramThroughout 2010 Aena continued to be implemented the Soundproofing Programs in the airport
surroundings, which entailed the soundproofing of 1,220 homes.
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5.2.3. Environmental Impact Research Projects & Environmental Aspects Planning Assessment In 2010, Aena provided the Environmental Impact Statements (DIA) related to airport expansion in
A Coruña (runway expansion), La Palma and San Sebastián. Also the Environmental Resolutions for
infrastructure projects at the airports of Ibiza, Palma and Asturias.
More than 130 air navigation infrastructure projects and air navigation helps were to be processed
according to the legislation on environmental impact assessment.
In relation to the environmental strategic assessment it has been elaborated the environmental re-
ports on master plans for Córdoba and Son Bonet airports, also the environmental assessments of
the Alicante Airport Master Plan is still being carried out, and have already started the environmental
assessments of the proposal reviews of the master plans of: Fuerteventura, El Hierro, La Palma, San
Sebastian and Tenerife Norte.
Also, it has been elaborated and managed the reports that reflect the performance of the environ-
mental obligations under the Environmental Impact Statement (Infodía), the environmental reports (IN-
FOM), as well as environmental administrative decisions relating to Anexo II of Real Decreto Legislativo
1/2008 (Infodes).
5.2.4. Noise & Air Pollution AssessmentRegarding atmospheric assessment, Air Quality Control Programs at Malaga, Córdoba and Pamplo-
na airports (DIA 2006) were undertaken, so as air composition studies to monitor air pollution in A
Coruña and Ibiza airports.
Also, in order to comply with the Environmental Impact Statements (DIA) in Palma de Mallor-
ca Airport Expansion Plan, Aena performed an analysis of operational measures suggested
by the International Civil Aviation Organization (ICAO) to cut off the gas emissions in the
atmosphere.
In compliance to Ley 5/2010, proposals of the Orden Ministerial such as acoustic easement reduc-
tion were public announced, also the correspondent actions plans for Madrid-Barajas and Barcelona
airports; these proposals were approved the 6th of November and 13th of January both in Barcelona
and Madrid, respectively.
In the same way as Madrid and Barcelona, the above mentioned acoustic easement reduction law
was applied to Alicante, Gran Canaria, Palma de Mallorca and Tenerife Norte airports, currently ex-
pecting to be approved.
In March 2010, a noise and air traffic monitoring system was established in Valencia airport (Sirval).
In July 2010, a Corporate Noise and Air Traffic Monitoring System was implemented (SCMRS) in Ali-
cante and Malaga airports, and the improvement and replacement of the Noise Monitoring System
in Palma de Mallorca Airport (Sirpa).
Now in Madrid-Barajas and Barcelona airports is available an Interactive Noise Map called Web Trak
to provide further information that was only available to the people that live around the airport in
terms of acoustic conditions. The data of noise and aircraft trajectories that it is monitored by the
airport systems is available.
Furthermore, it has continued making the acoustic traces of environmental impact studies and en-
vironmental documents, as well as traces of the environmental sustainability reports on the master
plans, as well as a comparative study of the different options raised in the proposed revision of the
Alicante Airport Master Plan.
5.2.5. Soil composition managementThroughout 2010 previous year’s works was continued. They went on carrying out the decontamina-
tion at Palma de Mallorca Airport; also a Cleaning up Plan in plot 1 in the Eastern area of Santander
Airport was undertaken.
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In 2009, soil composition research finished and Aena currently have at its disposal a piezome-
ter network in all the airports to prevent pollution incidents in the future.
Also, soil composition performances are being made to monitor concessionaire areas, espe-
cially in fuel supply installations, to prevent cross-border pollution. In 2010 highlights the
characterization of the plots of ground maintenance equipment of the Barcelona Airport
expansion.
5.2.6. Renewable energy Several actions have been carried out such the installation of wind turbines or photovoltaic
cells in several airports last year 2010.
6. INFRASTRUCTURES
6.1. INfRASTRUCTURE PLANNING
In 2010 Aena continued to revise and update the Master Plans for the airports network,
with the preparation of proposals for new Master Plans in 12 airports. Among them, four
Master Plans were already approved within Aena network at: Pamplona Airport (Orden
FOM/2208/2010, 30th of June), Granada-Jaén Airport (Orden FOM/2220/2010, 30th of
June), Santander Airport (Orden FOM/2384/2010, 30th of June) and to conclude Vigo Air-
port Master Plan (Orden FOM/2385/2010, 30th of June). On the 23rd of January of 2011,
four Master Plans were approved in Aena: Ibiza Airport (Orden FOM/3414/2010, de 29th
of November), Menorca (Orden FOM/3415/2010, 29th of November), Santiago (Orden
FOM/3416/2010, 29th of November) and Valencia (Orden FOM/3417/2010, de 29th of No-
vember).
Aena continued with the studies of the New Airport System in Madrid (phase IV) that analy-
ze the viability to have another airport in Madrid that would be compatible with the existing
Madrid-Barajas.
Medium- and long-term traffic forecasts continued to be updated for all the Aena Network airports
in order to monitor the Master Plan actions but also to prioritise investments and budget estimation.
With regard to the special plans, in 2010 final approval was obtained for the Girona Costa-
Brava Airport Special Plan, whilst Almería, Malaga and Seville counted on a provisional appro-
val. Besides, Aena collaborated with public administration to approve the special plans on the
remaining airports that have already applied.
The special plans for Granada Airport Federico García Lorca, Jaén, Pamplona, Vigo and Santan-
der were sent to the General Directorates of the Ministry of Civil Work. Also urban develop-
ment processing of the Pamplona Special Plan started before the Navarra Government.
To achieve the integration and co-existing of the airport with its surroundings, many urban
development reports have been lately submitted.
Also, The Dirección General Aviación Civil demanded multiple urban development feasibility
reports in areas affected by aeronautical routes.
6.2. INfRASTRUCTURES
Aena’s commitment is to establish and develop an expanding airport and air navigation infrastruc-
tures to guarantee Aena airports improvement to absorb the current and future demand. To achieve
this goal, Aena continued making projects and executing works and facilities that were planned.
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That means, Aena contributed to quality improvement, airport and air navigation infrastructure de-
velopment to maintain a high security level in the workplace risk prevention, people and goods; also
ensuring the requirements contained in environmental impact statements to assure the economic
viability and under the current rules, guidelines and legislation.
Furthermore, the special plans for the airports: Plan Barcelona (Barcelona Airport), Plan Levante (Ali-
cante and Valencia airports), Plan Málaga (Malaga Airport) are focused on developing and executing
the required infrastructure planning to expand and adjust to other competing airports. Hence in
2010, it has continued to developing and progressing in fulfilling the goals established, contributing
to the facilities modernization and refurbishment, along with the improved image that it is perceived
by the users and society in general of these airports.
For this, the Levante Plan and specifically all that it is related to the expansion work of the Alicante
Airport in 2010, has taken a big step in their development, which will allow the new facility to be
operating in 2011.
6.2.1. Main investment actions madeModernization and expansion performances range over and without exception all Aena airports
network. The main investments made in 2010 were the following:
• New Terminal in Malaga Airport (T3).
(Inaugurated on the 15th March 2010, capital investment: 410 million Euros).
• New Terminal in León Airport.
(Inaugurated on the 11th October 2010, capital investment: 29 million Euros).
• Algeciras Heliport open.
(Inaugurated on the 1st July 2010, capital investment: 7 million Euros).
• New Departure Building in Reus Airport.
(Inaugurated in the 16ht of July 2010, capital investment: 19.3 million Euros)
• Terminal expansion at Fuerteventura Airport.
(Inaugurated on the 23rd November 2010, capital investment: 237 million Euros).
• New terminal and runway expansion (200 meters) in Pamplona Airport.
(Inaugurated on the 24th November 2010, capital investment: 44 million Euros).
• Terminal expansion (south area) in Jerez Airport.
(Start-up on the 10th December 2010, capital investment: 15.8 million Euros).
• New installation services (parking and roads) A Coruña Airport
(Inaugurated on the 5th November, capital investment: 42 million Euros).
• Terminal expansion in Almería Airport.
(Start-up on the 17th December 2010, capital investment: 37 million Euros).
• Terminal, platform and parking expansion in Badajoz Airport.
(Start-up on the 30th of July, 2010 - capital investment: 9 million Euros).
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7. SERVICES
7.1. AIRPORT SERVICES
7.1.1. Assistance for persons with reduced mobility (PRM)Since July 2008 Aena provides at all Spanish airports support service to People with Reduced
Mobility (hereafter PRM) under the European Parliament Regulation (EU) 1107/2006 (hereafter
Regulation) that guaranties that all the people can use all the air transport in all the European
airports, regarding the disabilities.
In 2010, Aena’s stuff made around 1,015,000 assistances all over the airports network.
The PRM people evaluated the service very positively. In fact, on the 2nd December 2010
Aena receive the Award Cerni.es in the category Universal Accessibility for the deployment
across the Spanish Airports network of a support and assistance service to passengers with
disabilities.
7.1.2. Changes in airport operating hours Airport operating hours were modified in A Coruña, El Hierro and Melilla airports in 2010.
Since July 2010, El Hierro Airport operating hours were from 8:10am to 7pm in summer to 8:10am
to 7pm now.
Also from July 2010, Melilla Airport changed its operating hours, slowing down in five minutes ope-
ning hour in summer (7:45am to 7:50am) and added for the year the possibility to approval 1 PPR
hour (before it had 30 PPR minutes).
A Coruña airport opening hours are from 6.30 am to 0.30 pm and it also was given permission to
operate an additional hour when needed during the whole year.
7.1.3. Airport marketingProgress was made in one of the most significant areas of the Airport Marketing: the drafting
of marketing plans. These plans consist of an external and internal study and a market survey of
the airports concerned and their regions to determine their potential. In 2010 marketing plans
were prepared for five airports: A Coruña, Barcelona, Madrid-Barajas, Santiago and Vigo.
In relation to the market survey, a fundamental tool for the analysis of marketing trends and
opportunities, the Emma Office carried out about 90,000 surveys in 17 Spanish airports.
In addition to the study of our airports, the Airport Marketing unit held meetings with nu-
merous airline companies and local agents with a view to propose new routes. In 2010 this
unit participated in three important international forums: FITUR, Routes Europeo and World,
and IATA’s Slot Conference, which took place in June in Berlin.
Finally, the Dirección de Aeropuertos Españoles continued collaborating with the Sesar Pro-
gram (Single European Sky ATM Research), still in development. Aena is a member of the
joint company created to develop this phase (Sesar Joint Undertaking), and has the lea-
dership of the Airport Operations management unit. The Directorate of Spanish Airports is
involved in 18 projects out of 300, mainly focused on airport management.
7.1.4. Installation of Defibrillators at airportsThroughout 2010, it has been carried on the airports cardio-protection plan initiated in 2009
with the installation of 65 defibrillators in Madrid-Barajas Airport. Aena also contracted car-
diac rescue blocks installation and maintenance in public areas within airport terminals and
also in most of Aena airports network, as well as qualified personnel to have the cardio-
protected space credential.
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In 2010 around 136 cardiac rescue blocks were installed in several Aena airports and the ins-
tallation of these devices in the Aena Airports will be completed in 2011. In total, there will
be 251 defibrillators distributed throughout 44 airports.
7.2. AIR NAVIGATION SERVICES
Air navigation system and services, not only in Spain but in the European Union member
states are aimed to an ambitious challenge: Become part of Single European Sky program.
This new global initiative covers all the air navigation areas (institutional, regulative, opera-
tional and technological) and it is a reference to perform main actions to be executed from
2010 to 2020 period by diverse Spanish entities about the air traffic entities. European air
traffic services providers have a common goal (be transparent and be competitive). The
Ministry of Public Works is committed to this goal and through Aena has decided to accom-
plish the structural reform in Air Navigation and is aware of the convergence in costs and
fees need.
Spain had the highest en route air navigation taxes in Europe but the lowest on airports, which
was lowering the competitiveness of air transport and separating from the compliance of the
European objectives.
There was the fact that despite having the en route air navigation tax as the highest in the EU
(84.1 Euros in 2009), revenues were insufficient to cover the entire cost of the Air Navigation,
resulting in a negative income statement.
All these above mentioned financial records and debates explained that the structure reform
was important and cannot be postponed structure. This is enshrined in the following legisla-
tive framework:
• Real Decreto-Ley 1/2010, of 5th February, that rules the air traffic services delivery, it esta-
blish the civil providers obligations on this services and set the certain work terms for civil air
traffic controllers.
• Ley 5/2010, of 17th March, amending former Ley 48/1960 of 21st July on Air Navigation,
ruling the delivery of air traffic services, it establish the civil providers obligations on this ser-
vices and set the certain work terms for civil air traffic controllers.
• Ley 9/2010, of 14th of April, ruling the delivery of air traffic services, it establish the civil
providers obligations on this services and set the certain work terms for civil air traffic con-
trollers.
• Orden FOM/1681/2010, of 19th May, considering La Gomera Airport as an Aerodrome Flight
Information Service AFIS to provide air traffic services.
• Orden FOM/1841/2010, of 23rd July, ruling the requirements for the certification of the air
traffic controller train service civil providers.
• Real Decreto 931/2010, of 23rd July, ruling the certification process for air navigation civil
providers and their regulatory control.
• Real Decreto 1001/2010, of 5th August, establishing the aeronautical security regulation in
relation with civil air traffic controllers working hours and break-time needs.
• Orden FOM/2376/2010, of 10th August, designating El Hierro Airport as an Aerodrome
Flight Information Service AFIS to provide air traffic services.
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• Orden FOM/2864/2010, of 13th October, designating El Hierro Airport as a monitored air-
port which provides information about aerodrome flights in order to provide air traffic servi-
ces, amending Orden FOM/2376/2010 of 10th August.
• Real Decreto 13/2010, of 3rd December, of actions in the fiscal, labour and liberalization to
encourage investment and job creation.
Additionally, in the Disposición Adicional Segunda of the Real Decreto it is included the aeronautical
activity in air traffic control, ruling the working hours of air traffic controllers in order to take into
consideration their workday.
• Real Decreto 1611/2010, of 3rd December, provisionally giving to the Ministry of Defence
the faculties of air traffic control that were assumed by the Entidad Pública Empresarial Aena.
• Real Decreto 1673/2010, of 4th December, by declaring a state of alarm for the normalization of
essential public services of air transport.
• Resolución del Congreso de los Diputados on 16th of December of 2010, ordering the
publication of the authorization agreement of the extension of the declared state of alarm
under the Real Decreto 1673/2010of 4th December. Also, Real Decreto 1717/2010 of 17th
December, extending the state of alarm declared by Real Decreto 1673/2010 of 4th De-
cember.
• Orden FOM/3352/2010, of 22nd December, which determines the airports managed by the
Entidad Pública Empresarial Aeropuertos Españoles y Navegación Aérea to select the new civil
providers air traffic control in aerodromes
The year 2010 concluded with the publication in BOE of 29th December of the Orden del Mi-
nisterio de Fomento to designate the first 13 Aena airports where the control tower service will
be liberalized.
This comprehensive reassessment results in a New Tax Framework and tangible economic results to
allow a 15% reduction in en route air navigation tax within 2 years and the elimination of the current
deficit in the air navigation approach tax in 2013.
The new regulation also covers requirements and obligations that air navigation providers must
accomplish if they want to operate in Spain (also included Aena, which earned this certificate
in December 2006) because new air navigation services that are linked to the airport providers
are allowed to work.
7.2.1. AFIS (Aerodrome Flight Information Service)Apart from the above mentioned legislative regulations, mentionable is the importance of Real Decreto
of 10th September, which regulates the AFIS (Aerodrome Flight Information Service) service supply in
airports.
Before summer of 2010, Aena presented to the Agencia Española de Seguridad Aérea the pertinent
security research studies on airports where these services could be likely applied. The following airports
were selected by the Ministry of Public Works (Orden FOM/2376/2010, of 10th August): La Gomera
and El Hierro airports, where the security control services now are under AFIS supervision. Security
control system costs were reduced up to 75% in these airports and with all the security measures
required by regulation and under Aesa supervision. Subsequently, the Spanish Minister Council passed
the Orden FOM28/64/2010 of 13th October, considering El Hierro Airport a monitored airport which
provides information about Aerodrome flights in order to provide air traffic services, amending the
August Orden. In 2011 is scheduled the establishment of the Afis service in Burgos, Logroño-Agoncillo,
Huesca-Pirineos and Córdoba airports.
The Law plans the liberalization of the tower control, which means the entry of different certified
providers from any of State Member and designated by the Spanish aeronautical authorities. It has
to be clear, however, that the approximation and en route control will still be handled exclusively
by the Spanish State. On 17th January 2011, the first process to select and contract civil control
services providers was tendered, beginning this way the first of the three phases of the process for
the liberalization of the tower control (public bidding process, invitation to interested economic
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operators proving with the required solvency and negotiation and concession) offering the inter-
ested companies all the necessary information for them to express their interest in participating in
the bidding process.
After the approval of the Ley 9/2010 of Prestación de Servicios de Tránsito Aéreo, Senasa started the
first Basic Training for Tower Control Course in November 2010. It will be the first of a total of seven
courses by which the Ministry of Public Works wants to prepare 300 new controllers (tower, route and
approximation).
7.2.2. Single European Sky Aena also participates in the development of the Single European Sky within the Sesar program. Its end
is the implementation, in 2020, of a management network of air traffic high provisions and less envi-
ronmental impact. 188 projects out of a total of 300 composing the Sesar program have been already
launched with the participation of Aena in 58 of them.
It is also important the signing on the 26th April 2010 the Local Spanish Single Sky Implementation
Plan (LSSIP) for the period 2010-2014 by Aena, Dirección General de Aviación Civil, the Agencia Estatal
de Seguridad Aérea and the Ministry of Defence (Air Force).
8. ECONOMIC EFFICIENCY AND FINANCIAL VIABILITY
The objectives related to the economic area summarizing Aena’s main financial and economic aspects
are the following:
• Income increase.
• Cost restraints.
• Debt control.
The key principle in the financial policy of those societies that integrate Aena Group is based
upon its centralization on the Directorate of Administration and Finances, in such a way that all
financial liabilities and assets are hired and managed by this Directorate. The main financial risks
are described below:
a) Interest rate risk.The objective of the Public Business Entity in relation to the interest risk management is to optimize
the finance costs within the risk limits established. The Public Business Entity does not usually perform
commercial transactions in currencies other than the Euro (unlike subsidiaries companies such as Aena
Desarrollo Internacional), and, accordingly, the finance cost risk is focused on the interest rate risk in
the case of the parent company, the risk variables being three-month Euribor (used for long-term debt)
and one-month Euribor (used in credit facilities).
Additionally, cost risk is estimated for the Multiannual Action Plan (PAP) establishing interest rates per-
formance scenarios for the period under study.
The Group contracted during 2010 and 2009 interest rate swap operations.
b) Liquidity risk.The main risk variables are: limitations in the financing markets, increase in forecast investment and
decrease in cash-flow generation.
In order to maintain sufficient liquidity to meet the financial requirements over a minimum of twelve
months, a long-term financing policy was established by signing agreements or framework agree-
ments with institutions such as Instituto de Crédito Oficial and the European Investment Bank, and by
arranging short and medium-term liquidity lines.
This risk is managed by monitoring closely the maturity schedule of the Group’s financial payables, and
through the proactive management and maintenance of credit lines that enable the projected liquidity
needs to be covered.
Lastly, the Group makes cash projections on a systematic basis in order to assess its cash needs. This
liquidity police ensure the fulfilment of the payment obligations assumed without having to resort
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to high interest-bearing financing, thereby enabling the liquidity position to be maintained on an
ongoing basis.
c) Credit riskLa variable de riesgo es la calidad crediticia de la contraparte, por lo que el objetivo se centra en
minimizar el riesgo de incumplimiento de las contrapartes. El Grupo mantiene su tesorería y activos
líquidos equivalentes en entidades financieras de alto nivel crediticio.
d) Foreign currency riskThe subsidiary Aena Desarrolllo Internacional is exposed to exchange rate fluctuations which might
affect its sales, profit, equity and cash flows. In this respect, this subsidiary has arranged a cash flow
hedge as a result of changes in exchange rates.
8.1 AUSTERITY PLAN 2010-2013
In order to satisfy not only the Government’s Programa de Consolidación Fiscal (Fiscal Con-
solidation Programme) which is detailed in the Plan de Acción Inmediata 2010 (2010 Direct
Action Plan) and in the Austerity Plan 2010-2013, due to Aena’s thirst for efficiency, produc-
tivity and competitiveness, an Austerity Plan was designed. This plan includes the following
courses of action:
- Air navigation services structural reform
- Productivity improvement of Aena’s human resources.
- General expense reduction and improvement of efficiency processes.
- Rationalization of the Investment Plan.
- Income increase.
It is important to highlight that at the end of 2008, Aena activated a Cost Reduction Plan which
lead, in the first 15 months, to a 283.7 million total saving in the years 2008 and 2009..
The saving annual objective for the year 2010 was EUR 189.7 million regarding the 2010 P.A.P. Pre-
supuesto (159.2 million saving correspond to personnel costs and 30.5 million saving correspond to
external services).
8.2. fEE BONUS
Such is the importance of the airport activity from a social and economic view (in terms of contribu-
tion to the structuring and territorial cohesion and economic recovery), the Government has taken
over the course of 2010 a series of measures to overcome the crisis, encouraging tourism and sup-
porting the insular Spain.
It highlights the Real Decreto Ley 5 / 2010 of March 31, which extends (until December 31, 2010) the
validity of certain temporary economic measures for the Canaries. Specifically, an extraordinary grant to
the taxpayers of the rate B.1 in the full amount of the fee for each additional passenger that have trans-
ported over the same period of 2009.
On April 9, 2010, the Spanish Council of Ministers passed a Decreto Ley about measures to boost
economic recovery and employment.
As regards air transport specifically, provides for the temporary reduction in the amount of
airport charges and the commitment to reduce shipping costs (both measures are already in
operation):
1. A 100% bonus in the payment of the passenger rate applicable to those air companies which
in 2010 transported more passengers than in the previous year in all the airports of the Canary
Islands.
2. Insularity bonus increase from 15% to 30% in the landing, passenger and security rates for pe-
ninsular flights in the Canary Islands during 2010, and in Baleares, Ceuta and Melilla from April
14th 2010.
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3. In the same way, during 2010, 50% bonuses were applied in landing and passengers rates for
community and international flights carried out in days of the week without much traffic in
each airport from the Canary Islands. The objective of this measure is to attract air traffic with
an origin different from the Canary Islands, being directed to Community and international
passengers mainly.
These airport rates with bonus (which suppose less incomes for Aena for a total of 22.3 millions) and
the freeze of all rates, both airport and navigation rates, for the year 2010, have contributed to the
competitiveness among companies and to accelerate the tourist sector.
8.3. COMMERCIAL INCOME
During 2010, organization modifications initiated in 2009 continued, when the Directorate of Com-
mercial Spaces and Services was integrated within the Air Navigation Directorate, carrying out a com-
mercial structure reorganization of the Central Services, with the aim of facing new future challenges.
Regarding the development of commercial infrastructures, the following were the most important
during 2010:
• In March 2010 the new Malaga airport terminal was inaugurated which lead to an increase of
commercial offer up to 11,980 m2 in total. This supposes a 48.5% increase, divided in 21 restau-
rant establishments, 29 shops and other 17 commercial establishments.
• The commercial offer of Alicante Airport is ready to be open on March 24th, 2011. This leads to
a 8,497 m2 total increase which means 46,7% increase.
• Proceedings for novel tenders regarding commercial entities in the new La Palma airport terminal
have been carried out. Measures included the opening of the public parking in December. (448
parking spaces). In this way, proceedings for January 2011 rent a car service have been carried
out (552 spaces). The plan for three shops and a restaurant establishment have also been carried
out. With all these improvements, there will be 4 shops and 4 restaurant establishments in the
new terminal.
• Six new tenders have been put out of bid in order to carry out Santiago Airport new terminal.
Three of them are uplifted. With the operation of the new terminal in 2011, nearly 2,000
commercial m2 will be put into service, which means a 26.5% increase. The airport will be
also provided of cashiers, telephone boxes, vending machines, internet services and luggage
lamination.
• In 2010, a 32,300 m2 terrain was transferred to Iberia in order to build Iberia’s new corporate HQ
in Madrid-Barajas Airport.
• In June 2010, the Base Fija de Operaciones (FBO) was uplifted for corporative aviation in Palma
de Mallorca airport. Incomes are expected at the beginning of 2011.
Regarding incomes, 2010 Aena’s sales revenues showed a 4.1 % increase with regard to the pre-
vious year (23.27 million more) reaching 595.8 million Euros. Taking into account that the air traffic
showed 2.8% increase in 2010, the ratio of Sales Revenues per passenger was 3.11 Euro, which
means a 1.20% increase with regard to the previous year.
Commercial Incomes ratio was 31.07% in comparison with Air Incomes in 2010. This means a 0.86
% increase with regard the previous year.
Generally, it is important to highlight the contribution of the main seven airports to the
commercial incomes (Madrid-Barajas 27.25%; Barcelona 19.11%; Malaga 7.52%; Palma de
Mallorca 7.51%; Alicante 5.35%; Tenerife Sur 4.48% and Gran Canaria 4.32%). This means
75.54 of the total.
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8.4. CONTRACTS
During 2010, the total volume of goods and services hired amounted to 1,134.1 million Euros ex-
clusive of all taxes.
Hiring volume centrally uplifted meant 90.8% (1,029.7 million Euros) as opposed to 9.2% (104.4
million Euros) hired by peripheral centres.
9. HUMAN CAPITAL
As Aena’s greatest asset is its human capital, the main objectives in this sphere are the fo-
llowing:
- To improve the development of people.
- To increase the motivation and satisfaction of people.
- To increase safety and Workplace Risk Prevention.
- To improve administrative procedures and management control in the area of Human Re-
sources.
- To automate Human Resource Management Systems
During 2010, it is important to highlight the work group constitution with Aena and union agents
that took part in the Coordinadora Sindical Estatal with the purpose of analyzing those work aspects
affected by the New Airport Management Model.
9.1 PERSONNEL
On December 31st 2010 Aena’s permanent staff amounts to 11,722 employees. 6,915 belong to Air-
ports, 4.216 belong to Air Navigation (2,373 air-traffic controllers) and 591 belong to Corporate Units.
Aena 2010 civil service offered 97 vacancies, which permitted to cover around the 20% of the replace-
ment rate that the ‘Ley de Presupuestos Generales’ regulation established for 2010. These 97 vacancies
included 5 reserved posts for disabled persons in accordance with the disabled person integration mea-
sures as stated in the article 59 of the regulation 7/2007 from 12th April Estatuto del Empleado Público.
9.2. SELECTION
The main actions undertaken were related to non-qualified post offers (487) for different work cen-
tres, of external selection and internal provision.
On the other hand, during 2010, Potential Evaluation program was still carried out, with the purpose
of detecting management abilities among the company employees. Feedback facilitator (return of
evaluation interviews results) is one of the most valued aspects since it allows the participants to
know their strong points as well as improvement possibilities.
9.3. HUMAN RESOURCES MANAGEMENT SYSTEMS
The most remarkable action carried out by the Management System is the following:
• The use of Cetificad@2 module to issue the official earnings record to the Servicio Público de
Empleo Estatal by means of electronic devices.
• In order to continue providing the Employee Web with content that facilitates the work of both
the responsible of Human Resources management and employees.
• An improvement project for people in charge of Human Resources has been carried out (Ventani-
lla única project). The aim is to deal with all enquiries through one single line and therefore speed
up and homogenize the Organization management.
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All these improvements have reflected on normative and proceedings in the shape of Management
Guides which started in 2008. Furthermore, later support and tutorials were also carried out through
User Support Centre for a better implementation of these measures.
In relation to the aims set in the Austerity Plan in reducing the cost of Human Resources,
has achieved a 20% reduction over 2009 total spending of the Service Commissions. On the
other hand, it has reduced the absenteeism of activity rate by 12% over 2009, which has,
along with greater use of the available hours stock, a 24% reduction in the performance of
overtime.
9.4. ORGANIZATION
In relation to the most important measures carried out in Aena’s organisational area, significant
projects were:
• Aena organization structure development is still carried out in accordance to the new necessities
and the Austerity Plan criteria. In this sense, all 2010 changes were carried out without costs
increase.
• The experience of 2010 has contributed to consolidate the Management Development System
as a reference system to improve and measure Aena’s executives and organization employees’
eagerness.
• The implementation of a control management system that controls the main magnitudes and
indicators of airport’s Human resources will allow problem identification and analysis, monitoring
and solutions proposals in order to improve the management.
9.5. TRAINING
The training activity was coordinated by the three training units: Training Division, Professional De-
velopment Division (Air Navigation) and Executive Development Division.
A total volume of over 368.926 hours were devoted to training. The 93% of the employees who
attached to these units attended at least one training course (taking into account the on-line
courses).
The expenses associated directly with training for the three units amounted to 2.9 million
Euros.
As in prior years, Aena benefited from FTFE (Tripartite Foundation for Occupational Training)
aid for its 2008 Demand Training Plans. The Directorate-General of the Spanish Employment
Institute (Inem) granted Aena a reduction of 1,235,585.98 Euros for 2010, which reduced its
social security contributions, and which accounts for approximately 42% of the cost incurred in
training during this year.
9.6. CORPORATE EARNINGS AND SOCIAL PROJECTS
Corporate Earnings and Social Projects area carried out the implementation of new social projects
during 2010. It is important to highlight the following:
• The “Espacio Solidario” project consists of the free cession of a display stand to social entities
(NGO, foundations, and associations) in order to spread their campaigns, information and objec-
tives within a great public impact scene.
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During 2010, the quantity of days used multiplied by four and the number of associations multiplied
by two.
• In order to develop work and family life coordination policy, the employee assistance service has
attended 2,354 total services in 2010.
Volunteer Program consolidation, the Third Solidarity day’s celebration, Cultural day’s conso-
lidation and celebration, Social days held with disabled social organizations, cultural organi-
zations, specialized bookshops, collaborator editorials, the Drug Treatment and Prevention
programme, Emotional and Health Education Support Programs, Retired People Workshops
and agreements with disabled sector organizations are some examples of social projects ca-
rried out during 2010.
Likewise, benefits such as life and accident insurance were maintained with effect from the 1st Sep-
tember 2010, by keeping the cover for permanent disability.
Social assistance Program 2009 was announced which led to 10,000 social-economical benefits
through the Employee Web. Required documentation presentation through this service was the
novelty. More than 1,200,000 Euros were allocated to this program.
In relation to the Pension Plan, in 2010 Aena made contributions amounting to 6.47 million Euros
and paid benefits totalling 1.57 million Euros. At year-end, the final balance of the pension plan
amounted to 53.48 million Euros and there were 11,371 participants.
9.7. HUMAN RESOURCES ACTIONS IN AIR NAVIGATION
• II Control Collective Agreement negotiation under the following premises: productivity increase,
cost restraint, collective bargaining flexibility increase, work organization, days, work breaks and
financial compensation flexibility.
• Attendance control improvement in the Air Navigation offices.
• Reference models and air traffic controllers’ working days in the year.
• Implement of Technical Operating ‘Basic Training’ and the development of the ‘Qualified Trai-
ning’ contents.
• Management proceedings design and implement which allow the improvement of the Human
Resources of each Air Navigation Regional Directorate actions.
• Specific procedure design which allows continuous physical and mental state check of all em-
ployees registered in the Safety Chain; ICCP specific procedure elaborated and tested by Aesa,
second edition still unfinished.
10. FUTURE OUTLOOK
As it was stated in section number 19 Subsequent Events of the Annual Report, on December 3rd
2010, the Real Decreto-ley 13/2010 for operations in the financial, labour and liberalizing field in
order to promote investment and employment was passed. This Real Decreto deals with the new
legal framework for the modernization and liberalization of the 47 airports of the Aena network.
The new regulation tries to carry out the transformation of the Spanish airport system, which is,
since 1990, managed by Public Business Entity ‘Aeropuertos Españoles y Navegación Aérea’ (Aena)
in order to open it to new ways of decentralized management and to the private sector collabora-
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tion through the creation of the state Trading Company Aena Aeropuertos S.A. This company will
assume the whole set of functions and responsibilities that is currently exerting regarding airports
management and exploitation although state competences regarding air navigation will be exerted
by the Public Business Entity, in the legal framework stated by the Ley 9/2010, April 14th.
In addition and regarding airport services business area, a deep transformation of the incomes re-
gulating frame have been carried out. This transformation, through the establishment of a rate
actualization and modification and subjected to certain transparency, enquiry and supervision aims
at a future full cost recovery and an appropriate investment profitability. All this is stated by the Ley
1/2011, April 4th by which the ‘Programa Estatal de Seguridad Operacional para Aviación Civil’ is
stated modifying, at the same time, the Ley de Seguridad Aérea 21/2003 of the 7th July.
For all these reasons, and after the deep structural reform carried out in the air navigation services
in 2010 (section 8.1 of this Report), the long term Group’s perspectives are satisfactory regarding all
business areas due to all activities growth expectations. This will allow to carry out the investment
plan designed by the Ministry of Public Works and to achieve the quality, security, operating and
competitiveness objectives of the Spanish air transport infrastructures up to the level of the socio-
economical development the Nation needs.
Legal InformationManagement Report
Annual report 2010 109
Aena investments amounted to 1,733 million Euros (In the picture, Menorca Airport gangway)
Annual consolidated profit
Annual report 2010
THE PUBLIC BUSINESS ENTITY “AEROPUERTOS ESPAÑOLES Y NAVEGACIÓN AÉREA” AND SUBSIDIARY COMPANIES
CONSOLIDATED ANNUAL ACCOUNTS AND MANAGEMENT REPORT FOR FISCAL YEAR ENDING AT 31 DECEMBER 2010
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2010
ASSETS NOTES 2010 2009
NON-CURRENTASSETS:
Intangibleassets: Note 5 275.192 282.560
Development expenditure 86.099 86.620
Computer software 171.334 123.196
Other intangible assets 17.759 72.744
Property,plantandequipment: Note 6 16.456.251 15.876.444
Land and buildings 10.996.350 10.120.382
Plant and other items of property, plant and equipment 3.341.853 3.058.281
Property, plant and equipment in the course of construction and advances 2.118.048 2.697.781
Investmentproperty: Note 7 88.011 90.805
Buildings 85.015 87.938
Plant 2.996 2.867
Non-currentinvestmentsinassociates: Note 9.1 118.856 79.758
Investments accounted for using the equity method 118.856 79.758
Non-current financial assets Note 9.2 60.958 61.570
Deferred tax assets Note 15.1 597.467 521.384
Total non-current assets 17.596.735 16.912.521
CURRENTASSETS:
Inventories Note 11 6.767 5.906
Trade and other receivables: 515.856 505.447
Trade receivables for sales and services 370.681 374.344
Companies accounted for using the equity method Note 9.2 6.227 11.532
Sundry accounts receivable 556 719
Employee receivables 2.366 2.103
Current tax assets Note 15.1 24.684 23.677
Other accounts receivable from public authorities Note 15.1 111.342 93.072
Current financial assets- Note 9.3 14.642 16.620
Loans to companies 1.540 3.882
Legal InformationAnnual consolidated profit
Annual report 2010 111
Other current financial assets 13.102 12.738
Current prepayments and accrued income 9.423 8.564
Cash and cash equivalents 8.617 14.030
Total current assetsTOTAL ASSETS
555.305 550.567
18.152.040 17.463.088
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2010
EQUITYANDLIABILITIES NOTES 2010 2009
EQUITY:
Shareholders' equity: Note 12 3.157.981 3.321.993
Equity 3.099.018 3.099.018
Reserves of the Parent: 180.571 555.929
Legal and bylaw reserves 451.196 479.917
Other reserves 284.144 277.882
Retained losses (554.769) (201.870)
Reserves at consolidated companies (2.937) (443)
Reserves at companies accounted for using the equity method 26.421 13.349
Loss for the year attributable to the Parent: (145.092) (345.860)
Consolidated loss (145.040) (343.908)
Loss attributable to minority interests (52) (1.952)
Valuation adjustments: (19.577) (6.284)
Hedges Note 10 (20.258) 1.221
Translation differences of companies accounted for using the equity method Note 12 681 (7.505)
Grants, donations or gifts and legacies received Note 12 449.270 422.038
Minority interests Note 12 359 13.496
Total equity 3.588.033 3.751.243
NON-CURRENT LIABILITIES:
Long-term provisions: Note 13.1 635.319 527.901
Provisions for long-term employee benefit obligations 417.278 410.957
Provisions for environmental costs 161.801 97.433
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2010
ASSETS NOTES 2010 2009
The accompanying Notes 1 to 21 are an integral part of the consolidated balance sheet at 31 December 2010.
Legal InformationAnnual consolidated profit
Annual report 2010 112
Other provisions 56.240 19.511
Non-current payables- Note 14 11.767.503 10.160.928
Bank borrowings and other financial liabilities 11.750.592 10.155.044
Obligations under finance leases 2.589 3.031
Derivatives Note 10 12.072 143
Other financial liabilities Note 14 2.250 2.710
Deferred tax liabilities Note 15.1 220.154 208.732
Non-current accruals and deferred income 1.225 1.289
Total non-current liabilities 12.624.201 10.898.850
CURRENT LIABILITIES:
Short-term provisions Note 13.2 186.040 248.009
Current payables- 1.323.867 2.125.930
Bank borrowings and other financial liabilities Note 14 520.608 1.029.729
Obligations under finance leases Note 14 441 419
Other financial liabilities 18.996 1.095.782
Current payables to Group companies and associates: 783.822 -
Payable to companies accounted for using the equity method Note 9.2 17.955 -
Trade and other payables- 17.955 439.033
Payable to suppliers 411.921 16.676
Payable to suppliers - companies accounted for using the equity method Note 9.2 978 1.251
Sundry accounts payable 254.671 239.758
Remuneration payable 32.850 87.421
Current tax liabilities Note 15.1 1.466 1.758
Other accounts payable to public authorities Note 15.1 42.324 54.901
Customer advances 79.632 37.268
Current accruals and deferred income 23 23
Total current liabilities 1.939.806 2.812.995
TOTAL LIABILITIES 18.152.040 17.463.088
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2010
PATRIMONIO NETO Y PASIVO NOTAS DE LA MEMORIA EJERCICIO 2010 EJERCICIO 2009
The accompanying Notes 1 to 21 are an integral part of the consolidated balance sheet at 31 December 2010.
Legal InformationAnnual consolidated profit
Annual report 2010 113
CONSOLIDATED INCOME STATEMENT FOR 2010 (THOUSANDS OF EUROS)
CONTINUING OPERATIONS NOTES 2010 2009
Revenue Note 16-a 2.972.401 2.991.389
In-house work on non-current assets 9.282 58.076
Procurements Note 16-b (61.882) (114.134)
Cost of raw materials and other consumables used (372) (202)
Work performed by other companies (61.510) (113.926)
Losses on impairment of raw materials and other consumables - (6)
Other operating income 15.625 14.543
Non-core and other current operating income 13.348 12.763
Income-related grants transferred to profit or loss 2.277 1.780
Staff costs (978.445) (1.310.631)
Wages, salaries and similar expenses (779.036) (1.098.170)
Employee benefit costs Note 16-c (183.759) (202.364)
Provisions (15.650) (10.097)
Other operating expenses (1.122.466) (1.079.168)
Outside services Note 16-d (913.453) (916.546)
Taxes other than income tax (140.072) (97.439)
Losses on, impairment of and change in allowances for trade receivables (56.217) (40.696)
Other current operating expenses (12.724) (24.487)
Depreciation and amortisation charge Notes 5, 6 and 7 (872.519) (797.319)
Allocation to profit or loss of grants related to non-financial non-current assets and other grants 32.845 26.737
Excessive provisions 48.375 4.862
Impairment and gains or losses on disposals of non-current assets (22.231) (16.139)
Other gains or losses 10.091 (1.371)
PROFIT (LOSS) FROM OPERATIONS 31.076 (223.155)
Finance income 4.310 2.091
From investments in equity instruments - 1.227
From marketable securities and other financial instruments 4.310 864
Finance costs (253.058) (284.667)
On debts to third parties (257.393) (289.149)
Interest cost relating to provisions (36.589) (69.171)
Capitalisation of finance costs 40.924 73.653
Change in fair value of financial instruments Note 10 38 (34)
Exchange differences 239 (688)
Impairment and gains or losses on disposals of financial instruments (6) -
Legal InformationAnnual consolidated profit
Annual report 2010 114
FINANCIAL LOSS Note 16-e (248.477) (283.298)
Results of associates accounted for using the equity method Note 9.1 17.897 14.431
LOSS BEFORE TAX AND INVESTEES (199.504) (492.022)
Income tax Note 15.3 54.464 148.114
LOSS FOR THE YEAR FROM CONTINUING OPERATIONS (145.040) (343.908)
CONSOLIDATED LOSS FOR THE YEAR (145.040) (343.908)
Loss attributable to minority interests 52 (1.952)
LOSS ATTRIBUTABLE TO THE PARENT (145.092) (345.860)
CONSOLIDATED INCOME STATEMENT FOR 2010 (THOUSANDS OF EUROS)
CONTINUING OPERATIONS NOTES 2010 2009
The accompanying Notes 1 to 21 are an integral part of the consolidated income statement at 31 December 2010.
The accompanying Notes 1 to 21 are an integral part of the consolidated statement of changes in equity at 31 December 2010.
CONSOLIDATEDSTATEMENTOFCHANGESINEQUITYFOR2010A) CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE (THOUSANDS OF EUROS)
NOTES 2010 2009
A) Loss per income statement (145.040) (343.908)
Income and expenses recognised directly in equity
Arising from cash flow hedges Note 10 (30.154) 411
Grants, donations or gifts and legacies received Note 12.g 71.744 32.530
Arising from actuarial gains and losses and other adjustments Note 13.1.a - (24.735)
Translation differences Note 9.1 8186 1741
Tax effect (1.2477) (2.463)
B) Total income and expenses recognised directly in equity 37.299 7.484
Transfers to profit or loss
Arising from cash flow hedges Note 10 (530) (160)
Grants, donations or gifts and legacies received Note 12.g (32.845) (26.737)
Tax effect 10.015 8.072
C) Total transfers to profit or loss (23.360) (18.825)
TOTAL RECOGNISED INCOME AND EXPENSE (A + B + C) (131.101) (355.249)
Total recognised income and expense attributed to non-controlling interests 52 1.952
Total recognised income and expense attributed to the Parent (131.153) (357.201)
Legal InformationAnnual consolidated profit
Annual report 2010 115
CONSOLIDATEDSTATEMENTOFCHANGESINEQUITYFOR2010B)CONSOLIDATEDSTATEMENTOFCHANGESINTOTALEQUITY(THOUSANDSOFEUROS)
Assigned Equi-ty and Assets
Bylaw Reserves
Revaluation Reserve R.D.L.
7/1996
Other Reser-ves of the
Parent
Consolidated Reserves of the Parent
“Retained Losses”
Reserves of Fully
Consolidated Companies
Reserves of Companies Accounted
for Using the Equity Method
Profit (Loss) for the Year
Attributable to the Parent
Valuation Adjustments
Grants, Dona-tions or Gifts and Legacies
Received
Minority Interests Total Equity
BALANCE AT 2008 YEAR-END 3.099.018 496.044 273.417 (11.407) 20.447 (36.667) 7.137 10.395 (159.481) (8.201) 383.316 18.126 4.092.144
Adjustments due to transition to new Spanish National Chart of Accounts
- - - - - - - - - - 34.666 - 34.666
ADJUSTED BALANCE AT BEGINNING OF 2008 3.099.018 496.044 273.417 (11.407) 20.447 (36.667) 7.137 10.395 (159.481) (8.201) 417.982 18.126 4.126.810
Total recognised income and expenses - - - (17314) - - - - (345.860) 1.917 4.056 1.952 (355.249)
Dividends paid - - - - 16.901 - (6.771) (10.130) - - - (6.657) (6.657)
Other changes in equity - (16.127) - - 2.806 - (1.053) 638 - - - 75 (13.661)
Profit (Loss) attributable to minority interests - - - - - - - - - - - -
Distribution of 2008 loss - - - - (6.968) (165.203) 244 12.446 159.481 - - - -
BALANCE AT 2009 YEAR-END 3.099.018 479.917 273.417 (28.721) 33.186 (201.870) (443) 13.349 (345.860) (6.284) 422.038 13.496 3.751.243
Total recognised income and expenses - - - - - - - - (145.092) (13.293) 27.232 52 (131.101)
Dividends paid - - - - 13.196 - (1.215) (11.981) - - - - -
Other changes in equity - (28.721) - 28.721 (24.137) - (6.889) 12.106 - - - (13.189) (32.109)
Distribution of 2009 loss - - - - (11.518) (352.899) 5610 12947 345860 - - - -
BALANCE AT 2009 YEAR-END 3.099.018 451.196 273.417 - 10.727 (554.769) (2.937) 26.421 (145.092) (19.577) 449.270 359 3.588.033
The accompanying Notes 1 to 21 are an integral part of the consolidated statement of changes in equity at 31 December 2010.
CONSOLIDATED STATEMENT OF CASH FLOWS FOR 2010 (THOUSANDS OF EUROS)
2009 2008
CASH FLOWS FROM OPERATING ACTIVITIES (I) 570,795 170,176
Loss for the year before tax (199,504) (492,022)
Adjustments for: 1,222,464 1,129,660
- Depreciation and amortisation charge 872,519 797,319
- Impairment losses 56,167 40,181
- Changes in provisions 87,077 124,089
- Recognition of lease premium (23) (23)
- Recognition of grants in profit or loss (32,845) (26,737)
- Gains/Losses on derecognition and disposal of non-current assets 22,550 16,170
- Gains/losses on derecognition and disposal of financial instruments 6 -
- Finance income (4,310) (2,076)
- Finance costs 231,330 261,509
Legal InformationAnnual consolidated profit
Annual report 2010 116
- Exchange differences (239) 688
- Changes in fair value of financial instruments (38) 34
- Other revenues and expenses (27,627) (95,925)
- Results of associates accounted for using the equity method 17,897 14,431
Changes in working capital (153,918) (94,124)
- Inventories (861) (64)
- Trade and other receivables (121,077) 43,624
- Other current assets 2,943 1,461
- Trade and other payables (27,083) (130,493)
- Other current liabilities (7,840) (8,652)
Other cash flows from operating activities (298,247) (373,338)
- Interest paid (297,371) (368,654)
- Dividends received - 1,227
- Interest received 4,241 928
- Income tax recovered (paid) (5,117) (6,839)
CASH FLOWS FROM INVESTING ACTIVITIES (II) (1,732,502) (1,686,812)
Payments due to investment (1,732,918) (1,715,729)
- Intangible assets (72,186) (89,440)
- Property, plant and equipment (1,660,028) (1,626,165)
- Other financial assets (704) (124)
Proceeds from disposal 416 28,917
- Property, plant and equipment 260 1,313
- Other financial assets 156 27,604
CASH FLOWS FROM FINANCING ACTIVITIES (III) 1,156,058 1,520,629
Proceeds and payments relating to equity instruments 69,453 33,782
- Grants, donations or gifts and legacies received 69,453 33,782
Proceeds and payments relating to financial liability instruments 1,086,605 1,486,847
- Proceeds from issue of bank borrowings 1,530,000 1,850,000
- Repayment of bank borrowings (441,056) (354,351)
- Repayment of borrowings from associates - (2,000)
- Other (2,339) (6,802)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES (IV) 236 (688)
NET INCREASE/DECREASE IN CASH AND CASH EQUIVALENTS (I+II+III+IV) (5,413) 3,305
Cash and cash equivalents at beginning of year 14,030 10,725
Cash and cash equivalents at end of year 8,617 14,030
CONSOLIDATED STATEMENT OF CASH FLOWS FOR 2010 (THOUSANDS OF EUROS)
2009 2008
The accompanying Notes 1 to 21 are an integral part of the consolidated statement of cash flows for 2010.
Legal InformationAnnual consolidated profit
Annual report 2010 117
1. GROUP ACTIVITIES AND STRUCTURE
Entidad Pública Empresarial “Aeropuertos Españoles y Navegación Aérea (AENA)” (“AENA” or
“the Entity”) was set up under Article 82 of State Budget Law 4/1990, of 29 June. It was effec-
tively formed on 19 June 1991 following the entry into force of its bylaws, which were approved
by Royal Decree 905/1991, of 14 June.
The Entity is structured as a public law entity attached to the Ministry of Public Works with its
own legal personality independent from that of the State, and carries on its business activity
within the framework of the Government’s general transport policy.
Its bylaws, approved by Royal Decree 905/1991, of 14 June, were subsequently amended by
Royal Decree 1993/1996, of 6 September, Royal Decree 1711/1997, of 14 November, and Royal
Decree 2825/1998, of 23 December.
Its company object, per its bylaws, is as follows:
1. The organisation, management, coordination, operation, upkeep and administration of civi-
lian public airports and of the related services, and the coordination, operation, upkeep and
administration of civilian areas at air bases open to civil aviation traffic.
2. The design, execution, management and control of investments in airport infrastructure and
facilities.
3. The organisation, management, coordination, operation, upkeep and administration of ae-
ronautical telecommunications system facilities and networks, navigation aids and air traffic
control.
4. The design, execution, management and control of investments in aeronautical telecommuni-
cations system infrastructures, facilities and networks, navigation aids and air traffic control.
5. The submission of proposals for the planning of new airport and air navigation infrastruc-
ture and the modification of air space.
6. The development of security services at airports and control centres and participation in
specific training relating to air transport and subject to the grant of official licenses, all
without detriment to the functions assigned to the Spanish Directorate-General of Civil
Aviation.
7. Equity investments in other companies or entities related to its activities that have a diffe-
rent object.
Services were first provided at Spanish airports in November 1991, and the provision of ser-
vices relating to navigation aids and air traffic control commenced in November 1992, when
the formation of the Entity was completed.
The Entity’s registered office is in Madrid, at calle Arturo Soria, 109.
As described in Note 19, the formation of a state owned enterprise called Aena Aeropuertos,
S.A. was approved on 25 February 2011. This company will assume all the duties and obliga-
tions currently performed by AENA in relation to the management and operation of airports,
although the state competencies relating to air navigation will continue to be exercised by
AENA pursuant to the framework established by Law 9/2010, of 14 April.
Also, the Entity heads the Group composed of various companies engaging mainly in the ma-
nagement of airport infrastructure and consulting and engineering projects, particularly those
relating to transport and its infrastructure.
Legal InformationAnnual consolidated profit
Annual report 2010 118
Scope of consolidationThe list of subsidiaries and associates, together with the carrying amount of the ownership in-
terests, in thousands of euros, relating thereto is as follows:
COMPANY AND REGISTERED OFFICE LINE OF BUSINESS
OWNERSHIP INTERESTCONSOLIDATION
METHOD% CARRYING AMOUNT
OF INVESTMENTOWNER
OF INVESTMENTDIRECT INDIRECT
SUBSIDIARIES:
Aena Desarrollo Internacional, S.A. (a)Arturo Soria, 109 • Madrid
Operation, maintenance, management and administration of airport in-frastructure and supplementary services.
100 - 83,184 AENA Fully consolidated
Centros Logísticos Aeroportuarios, S.A. (CLASA) (b)Edificio de Servicios Generales • Aeropuerto de Madrid - Barajas • Madrid
Development, construction, management, operation and maintenance of air cargo centres or equivalent centres at airports, and also as many com-mercial activities as are directly or indirectly related thereto.
100 - 24,137 AENA Fully consolidated
Centro de Referencia Investigación, Desarrollo e Innovación ATM. A.I.E. (CRIDA) (b)Juan Ignacio Luca de Tena, 14 • Madrid
Performance of R&D&i activities within the scope of ATM aimed at im-proving the services (in particular security, capacity and economic and environmental efficiency) of the Spanish Air Traffic Control system as an integral part of a global system.
66,66 - 480AENA
Indirectly INECO
Fully consolidated
- 7,64 120
COMPANY AND REGISTERED OFFICE LINE OF BUSINESS
OWNERSHIP INTERESTCONSOLIDATION
METHOD% CARRYING AMOUNT
OF INVESTMENTOWNER
OF INVESTMENTDIRECT INDIRECT
ASSOCIATES:
Ingeniería y Economía del Transporte, S.A. (INECO) (a) Paseo de la Habana, 138 • Madrid
Consulting and engineering projects and work with the possibility of operating in all sectors of economic activity, mainly in the fields of eco-nomic and corporate studies, industrial engineering, civil engineering and environmental engineering, particularly relating to transport and its infrastructure.
45.85 - 3.783 AENA Equity Method
Restauración de Aeropuertos Españoles, S.A. (RAESA) (a) Aeropuerto de Madrid - Barajas • Madrid
Operation of catering services at Madrid-Barajas airport. 48.99 - 294 AENA Equity Method
2010
Legal InformationAnnual consolidated profit
Annual report 2010 119
Aeropuertos Mexicanos del Pacífico, S.A. de CV (AMP) (a) • Mexico City
Operator of Grupo Aeroportuario del Pacífico (GAP) airports. - 33.33 84.121AENA
Desarrollo Internacional
Equity method
Sociedad Aeroportuaria de la Costa S.A. (SACSA) (a)Aeropuerto Rafael Núñez - Cartagena de Indias • Colombia
Operation of Cartagena airport. - 37.89 690AENA
Desarrollo Internacional
Equity method
Aeropuertos del Caribe, S.A. (ACSA) (a) Aeropuerto Ernesto Cortissoz - Barranquilla • Colombia
Operation of Barranquilla airport. - 40 159AENA
Desarrollo Internacional
Equity method
Aerocali, S.A. (b) Aeropuerto Alfons Bonilla AragónCali • Colombia
Operation of Cali airport. - 33.34 1.659AENA
Desarrollo Internacional
Equity method
COMPANY AND REGISTERED OFFICE LINE OF BUSINESS
OWNERSHIP INTERESTCONSOLIDATION
METHOD% CARRYING AMOUNT
OF INVESTMENTOWNER
OF INVESTMENTDIRECT INDIRECT
SOCIEDADES ASOCIADAS
2009
COMPANY AND REGISTERED OFFICE LINE OF BUSINESS
OWNERSHIP INTERESTCONSOLIDATION
METHOD% CARRYING AMOUNT
OF INVESTMENTOWNER
OF INVESTMENTDIRECT INDIRECT
SUBSIDIARIES:
Aena Desarrollo Internacional, S.A. (a)Arturo Soria, 109 • Madrid
Operation, maintenance, management and administration of airport in-frastructure and supplementary services.
100 - 83.134 AENA Fully consolidated
Centros Logísticos Aeroportuarios, S.A. (CLASA) (b)Edificio de Servicios Generales, Aeropuerto de Ma-drid - Barajas • Madrid
Development, construction, management, operation and maintenance of air cargo centres or equivalent centres at airports, and also as many com-mercial activities as are directly or indirectly related thereto.
100 - 24.137 AENA Fully consolidated
Centro de Referencia Investigación, Desarrollo e Innovación ATM. A.I.E. (CRIDA) (a), Juan Ignacio Luca de Tena, 14 • Madrid (2)
Performance of R&D&i activities within the scope of ATM aimed at im-proving the services (in particular security, capacity and economic and environmental efficiency) of the Spanish Air Traffic Control system as an integral part of a global system.
66,66 - 480 AENA Fully consolidated
10,18
Ingeniería y Economía del Transporte, S.A. (INECO) (a), Paseo de la Habana, 138 • Madrid (2)
Consulting and engineering projects and work with the possibility of operating in all sectors of economic activity, mainly in the fields of eco-nomic and corporate studies, industrial engineering, civil engineering and environmental engineering, particularly relating to transport and its infrastructure.
61,09 - 3.789 AENA Fully consolidated
Legal InformationAnnual consolidated profit
Annual report 2010 120
COMPANY AND REGISTERED OFFICE LINE OF BUSINESS
OWNERSHIP INTERESTCONSOLIDATION
METHOD% CARRYING AMOUNT
OF INVESTMENTOWNER
OF INVESTMENTDIRECT INDIRECT
ASSOCIATES:
Restauración de Aeropuertos Españoles, S.A. (RAESA) (a), Aeropuerto de Madrid-Barajas • Madrid (1)
Operation of catering services at Madrid-Barajas airport. 48,99 - 294 AENA Equity method
Aeropuertos Mexicanos del Pacífico, S.A. de CV (AMP) (a) • México DF (1)
Operator of Grupo Aeroportuario del Pacífico (GAP) airports. - 33,33 84.121AENA
Desarrollo Internacional
Equity method
Sociedad Aeroportuaria de la Costa S.A. (SACSA) (a), Aeropuerto Rafael Núñez, Cartagena de Indias • Colombia (2)
Operation of Cartagena airport. - 37,89 690AENA
Desarrollo Internacional
Equity method
Aeropuertos del Caribe, S.A. (ACSA) (a), Aeropuer-to Ernesto Cortissoz, Barranquilla • Colombia (2) Operation of Barranquilla airport. - 40 159
AENA Desarrollo
InternacionalEquity method
Aerocali, S.A. (a), Aeropuerto Alfons Bonilla AragónCali • Colombia (1) Operation of Cali airport. - 33,34 1.659
AENA Desarrollo
InternacionalEquity method
Tecnología e Investigación Ferroviaria, S.A. (TIFSA) (a), Paseo de la Habana, 138 • Madrid (2)
Technological research and development, consulting services and
technical assistance relating to the rail transport industry. - 29,93 2.048 INECO Equity method
(a) Information obtained from the separate financial statements for 2010 and 2009.(1) Companies audited by the Deloitte network.(2) Company audited by other auditors.At 31 December 2010 y 2009, none of these companies was listed on the stock market.
With respect to 2009, the percentage ownership interest in INECO decreased from 61.09% to
45.85% and INECO is now considered to be an associate. This change in percentage ownership
interest is the result of the dilution of the ownership interest due to the inclusion in the share capital
of INECO by the shareholders of Tecnología e Investigación Ferroviaria, S.A., since it was absorbed by
the former.
Legal InformationAnnual consolidated profit
Annual report 2010 121
2. BASIS OF PRESENTATION
A) REGULATORY fRAMEWORK fOR fINANCIAL REPORTING APPLICABLE TO THE COMPANY
These financial statements were formally prepared by the directors in accordance with the regulatory
financial reporting framework applicable to the Company, which consists of:
a) The Spanish Commercial Code and all other Spanish corporate law.
b) The Spanish National Chart of Accounts approved by Royal Decree 1514/2007 and its industry
adaptations.
c) The mandatory rules approved by the Spanish Accounting and Audit Institute in order to imple-
ment the Spanish National Chart of Accounts and the relevant secondary legislation.
d) All other applicable Spanish accounting legislation.
B) fAIR PRESENTATION
The accompanying financial statements, which were obtained from the accounting records of Enti-
dad Pública Empresarial “Aeropuertos Españoles y Navegación Aérea (AENA)” and of its subsidiaries
are presented in accordance with the regulatory financial reporting framework applicable to the
Group and, in particular, with the accounting principles and rules contained therein, and, accordin-
gly, present fairly the Group´s equity, financial position, results of operations and cash flows for 2010.
These financial statements, which were formally prepared by the Chairman and General Manager of
the Parent, will be submitted for approval of the Board of Directors of the Parent, and it is considered
that they will be approved without any changes. The financial statements for 2009 were approved
by the Board of Directors of the Parent at its meeting held on 30 June 2010.
C) ACCOUNTING PRINCIPLES APPLIED
These consolidated financial statements were prepared by taking into account all the obligatory ac-
counting principles and standards with a significant effect hereon. All obligatory accounting principles
were applied.
At 31 December 2010, the Group had a working capital deficiency of EUR 1.385 million and a loss for
the year of EUR 145 million. In order to meet its investment commitments and settle its liabilities, the
Group has credit lines and undrawn loans of EUR 450 million (see Note 14), in addition to the cash flows
that will be generated in 2011. Also, under the “Framework Agreement to finance the Strategic Plan for
Infrastructures and Transport” (PEIT) between the Ministry of Public Works and the European Investment
Bank (EIB) of 4 July 2006, the Group may opt to arrange supplementary financing of EUR 520 million
subject to the EIB’s positive assessment of the projects for which the financing is requested. In view of the
foregoing, the Company’s directors consider that it will not have any difficulties in fulfilling its obligations.
D) KEY ISSUES IN RELATION TO THE MEASUREMENT AND ESTIMATION Of UNCERTAINTY
In preparing the accompanying consolidated financial statements estimates were made by the Group
companies’ directors in order to measure certain of the assets, liabilities, income, expenses and obliga-
tions reported herein. These estimates relate basically to the following:
• The assessment of possible impairment losses on certain assets (see Note 4)
• The useful life of property, plant and equipment and intangible assets (see Note 4)
• The calculation of provisions (see Note 13)
• The market value of certain financial instruments (see Note 10).
Although these estimates were made on the basis of the best information available at 2010
year-end, events that take place in the future might make it necessary to change these estimates
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Annual report 2010 122
(upwards or downwards) in coming years. Changes in accounting estimates would be applied
prospectively.
E) COMPARATIVE INfORMATION
As of 24 September 2010, it was published in the Spanish Official State Gazette on Royal Decree
1159/2010, of 17 September, approving the rules for the preparation of consolidated financial
statements and amending the Spanish National Chart of Accounts approved by Royal Decree
1514/2007.
Pursuant to the rules for transition, these amendments were applied prospectively from 1 January
2010 onwards and did not have a significant impact. Similarly, in accordance with these rules, the
Company opted to present comparative figures which have not been adapted to the new rules
and, accordingly, these financial statements are considered initial financial statements for the
purposes of applying the principle of consistency and meeting the requirement of comparability.
f) GROUPING Of ITEMS
Certain items in the consolidated balance sheet, consolidated income statement, consolidated
statement of changes in equity and consolidated statement of cash flows are grouped together
to facilitate their understanding; however, whenever the amounts involved are material, the obli-
gatory information is broken down in the related notes to the consolidated financial statements.
G) CHANGES IN ACCOUNTING POLICIES
In 2009 the Parent recognised an increase of EUR 34,666 thousand in the EU grants recognised in equi-
ty, since they met the requirements to be considered refundable as a result of the approval of Ministry
of Economy and Finance Order EHA/733/2010, of 25 March, approving accounting matters relating to
public-sector companies operating in specific circumstances. Pursuant to this Order, the Company opted
not to adapt the comparative information to the new policies.
H) CONSOLIDATION METHODS
The consolidation was carried out, in accordance with current legislation, by applying the following
methods:
1. Companies over which “Aeropuertos Españoles y Navegación Aérea (AENA)” exercises control (com-
bined direct and indirect ownership interest of more than 50%) are deemed to be subsidiaries.
2. Companies over which the Company has the capacity to exercise significant influence are deemed to
be associates. Significant influence is presumed to exist when the Company’s percentage of ownership
is greater than 20% but less than 50%. These companies were accounted for using the equity method.
In all cases the financial statements of the Group companies used in the process of consolidation are
those for the year ended 31 December 2010.
The profit or loss on the transactions of companies that were acquired or disposed of was included from
the date of acquisition or up to the date of disposal, respectively.
For the purposes of the accompanying consolidated financial statements, the date of first-time conso-
lidation for each subsidiary was deemed to be that on which it joined the Group or the date of its first
consolidation, if later.
Balances and transactions between companies included in the scope of consolidation The accounts receivable and payable and significant transactions between consolidated companies were
eliminated upon consolidation.
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Annual report 2010 123
Standardisation of accounting principlesIn order to uniformly present the items included in the accompanying consolidated financial statements,
the same methods were applied to all the companies included in the scope of consolidation.
Minority interestsThe share of third parties in the equity and profit/loss of companies that were fully consolidated is shown
under “Equity - Minority Interests” in the consolidated balance sheet and under “Loss Attributable to Mi-
nority Interests” in the accompanying 2010 consolidated income statement, respectively.
Translation methods (year-end rate method)The financial statements of the Colombian associates Aeropuertos del Caribe S.A., Sociedad Aeroportuaria
de la Costa S.A. and Aerocali S.A. and the Mexican associate Aeropuertos Mexicanos del Pacífico S.A. de
CV were translated to euros at the exchange rates ruling at year-end, by applying the following procedure:
1. The asset and liability items of the foreign company were translated at the exchange rate ruling at the
closing date of the company in question.
2. The equity items of the foreign company were translated at the historical exchange rates prevailing at
the date on which the item was included in the company’s equity.
The differences accumulated at the date of transition as a result of the application of this translation method
were deemed to be reserves of the investor. The translation differences arising in the year were included
under “Equity – Valuation Adjustments” in the accompanying balance sheet at 31 December 2010.
H) CHANGES IN THE SCOPE Of CONSOLIDATION
As indicated in Note 1, in 2010 INECO S.A. (absorbing company arising from the merger with TIFSA S.A.)
became an associate and, therefore, began to be accounted for using the equity method. This change in
consolidation method gave rise to the elimination of the assets and liabilities of INECO which were fully
consolidated in the consolidated financial statements for 2009.
3. ALLOCATION OF LOSS
The allocation of the loss for 2010 submitted by the Chairman – General Manager of the Company,
per the bylaws, is as follows:
MILES DE EUROS
Basis of allocation:Loss for the year
(157.113)
Appropriation to:Retained losses
(157.113)
4. MEASUREMENT BASES
The principal measurement bases applied by the Company and its Subsidiaries (AENA Group)
in preparing their consolidated financial statements for 2010, in accordance with the Spanish
National Chart of Accounts, were as follows:
A) INTANGIBLE ASSETS
Intangible assets are recognised at acquisition, production cost or their saleable assignment value.
Amortisation is calculated on a straight-line basis based on the useful lives of the related assets at
the following rates:
CONCEPT %
Development expenditure 25
Computer software 17-25
Other intangible assets 12.5-25
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Annual report 2010 124
Development expenditure, specifically itemised by project, which is, or will foreseeably be economi-
cally and financially profitable and technically successful, is capitalised and amortised over a period
of four years from the date of completion. If there are changes in the favourable circumstances of
the project that made it possible to capitalise these expenses, the unamortised portion is charged to
income in the year in which these conditions change.
“Computer Software” relates to the amounts paid to acquire and develop certain computer pro-
grammes. Computer software maintenance costs are recognised with a charge to the income sta-
tement for the year in which they are incurred.
The Group capitalises mainly its airports’ Master Plans and the related studies under “Other Intangi-
ble Assets”, which are amortised over eight years.
Impairment of intangible assets and property, plant and equipmentWhenever there are indications of impairment or at the end of each reporting period in the case of
goodwill and intangible assets with indefinite useful lives, the Group tests the non-current and in-
tangible assets for impairment to determine whether the recoverable amount of the assets has been
reduced to below their carrying amount.
The Group makes a distinction between cash-generating assets and non-cash-generating assets.
Cash-generating assets are items of property, plant and equipment, intangible assets or property
owned to obtain a profit or generate a commercial return through the delivery of goods or the
provision of services while non-cash-generating assets are items owned for a purpose other than
to obtain a commercial return. On certain occasions, even if an asset is held mainly to produce
social economic flows that benefit the group, it can also generate a commercial return through
part of its installations or components or through a use both incidental and different to its main
use. When the cash-generating component or use can be considered accessory with respect to
the main objective of the asset as a whole, or it cannot be operated or exploited independently
from the rest of the components and installations composing the asset, it is considered as a
whole to be non-cash-generating.
Recoverable amount is the higher of fair value less costs to sell and value in use. In the case of
non-cash-generating assets, the value in use will be determined by reference to their depreciated
replacement cost.
The Parent performs impairment tests as follows:
• The recoverable amounts are calculated for each cash generating unit; for the whole airport
network and all the air traffic control centres and towers through which the air traffic control
service is provided.
• Management prepares a business plan each year (Pluriannual Action Plan) which generally spans
a period of three years. The main components of this plan, on which the impairment test is ba-
sed, are as follows:
- Earnings projections.
- Investment and working capital projections.
• Other variables affecting the calculation of the recoverable amount are:
- The discount rate to be used, which is taken to be the weighted average cost of capital,
the main variables with an effect on its calculation being interest costs and the risks spe-
cific to the assets.
- The cash flow growth rate used to extrapolate the cash flow projections to beyond the
period covered by the budgets or forecasts.
• The Pluriannual Action Plans are prepared in accordance with the best estimates available and are
approved by the Board of Directors.
If an impairment loss has to be recognised, the Group reduces the carrying amount of the assets in the
cash generating unit down to the limit of the highest of the following values: fair value less costs to
sell; value in use (or, in the case of non-cash-generating assets, depreciated replacement cost); and zero
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Annual report 2010 125
If an impairment loss were to subsequently reverse, the carrying amount of the asset or cash-ge-
nerating unit would be increased to the revised estimate of its recoverable amount, but so that the
increased carrying amount does not exceed the carrying amount that would have been determined
had no impairment loss been recognised in prior years. Such a reversal of an impairment loss would
be recognised as income.
In 2010 no material impairment losses were detected as a result of the preceding analysis.
B) PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment are presented in the consolidated balance sheet and are mea-
sured at acquisition cost, production cost or saleable assignment value less any accumulated
depreciation and any accumulated impairment losses, as indicated in the previous note.
Assigned property, plant and equipment are measured at their saleable value, which is conside-
red to be the actual value in use based on an independent appraisal since, given that they are
assigned to the Parent’s assets, no consideration, which would have enabled the acquisition
cost to be determined, was paid.
Property, plant and equipment additions and purchases made by the Group are measured at
acquisition or production cost and include the environmental costs required to make them.
Property, plant and equipment additions prior to 31 December 1996 are measured at revalued
cost or initial appraisal value, pursuant to the related enabling legislation.
Interest and other finance costs incurred, directly attributable to the acquisition or construction
of assets at the various airports, which necessarily require a period of at least 12 months to
come into operation, are treated as an addition to the related assets. The assets not included in
the airport network do not include the finance costs related to their financing.
In-house work on non-current assets is measured at accumulated cost (external costs plus in-
house costs, determined on the basis of in-house materials consumption, direct labour and
general manufacturing costs).
Replacements or renewals of complete items that lead to a lengthening of the useful life of the
assets or to an increase in their economic capacity are accounted for as additions to property,
plant and equipment, and the items replaced or renewed are derecognised.
Periodic maintenance, upkeep and repair expenses are recognised in the income statement on
an accrual basis as incurred.
The Group depreciates its property, plant and equipment once they are ready for use by the
straight-line method apportioning the carrying amount of the assets over their estimated use-
ful lives, except in the case of land, which is considered to have an indefinite useful life and is
therefore not depreciated. The useful life of the assigned property, plant and equipment was
estimated on the basis of the degree of use of the assets included under each heading. The
years of estimated useful life are as follows:
CONCEPT YEARS
Buildings 20 - 50
Plant 10 - 20
Machinery 5 - 25
Other fixtures 8 - 20
Furniture 10 - 13
Other items of property, plant and equipment 4 - 17
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Annual report 2010 126
C) INVESTMENT PROPERTY
“Investment Property” in the consolidated balance sheet includes the value of buildings, other structures
and fixtures held to earn rentals.
Investment property is measured as described in Note 4-b on property, plant and equipment.
D) LEASES
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and
rewards incidental to ownership of the leased asset to the lessee. All other leases are classified as operating
leases.
Finance leasesIn finance leases in which the Group acts as the lessee, the cost of the leased assets is presented in the
consolidated balance sheet, based on the nature of the leased asset, and, simultaneously, a liability is
recognised for the same amount. The cost is calculated by updating the amounts payable provided for
in the agreement, including those stipulated in the agreement in relation to the purchase option and the
effective interest rate.The total finance charges arising under the lease are allocated to the consolidated
income statement for the year in which they are incurred using the effective interest method. Contingent
rent is recognised as an expense for the period in which it is incurred.
Operating leasesLease income and expenses from operating leases corresponding to the lessee are recognised in the con-
solidated income statement on an accrual basis.
The acquisition cost of the leased assets is presented in the consolidated balance sheet according to the
nature of the asset.
Any collection or payment that might be made when arranging an operating lease will be treated as a
prepaid lease collection or payment which will be allocated to profit or loss over the lease term.
E) fINANCIAL INSTRUMENTS
e-1) Financial assets
ClassificationThe financial assets held by the Group are classified in the following categories:
a) Loans and receivables.
b) Held-for-trading financial assets: assets acquired with the intention of selling them in the short
term and assets that form part of a portfolio for which there is evidence of a recent actual pattern
of short-term profit-taking. This category also includes financial derivatives that have not been
designated as hedging instruments.
c) Available-for-sale financial assets: these are equity instruments of other companies that were not
classified in any of the aforementioned categories
Initial recognition Financial assets are initially recognised at the fair value of the consideration given, plus any directly
attributable transaction costs.
Subsequent measurement Loans and receivables and held-to-maturity investments are measured at amortised cost. If the re-
coverable value of the asset is estimated to be lower than its amortised cost taking into account the
solvency of the debtor and the age of the debt, the Group recognises the related impairment loss
with charge to income.
Available-for-sale financial assets are measured at fair value and the gains and losses arising from
changes in fair value are recognised in equity until the asset is disposed of or it is determined that it
has become (permanently) impaired, at which time the cumulative gains or losses previously recog-
nised in equity are recognised in the net profit or loss for the year.
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Annual report 2010 127
Impairment losses are recognised or reversed with a charge or credit to income, respectively, in the
year in which they are incurred.
The Group derecognises a financial asset when it expires or when the rights to the cash flows from
the financial asset have been transferred and substantially all the risks and rewards of ownership of
the financial asset have been transferred.
e-2) Financial liabilitiesAccounts payable are initially recognised at the fair value of the consideration received, adjusted by the
directly attributable transaction costs. These liabilities are subsequently measured at amortised cost.
f) HEDGE ACCOUNTING
The Group uses derivative financial instruments to hedge the risks to which its business activities,
operations and future cash flows are exposed. These risks arise mainly as a result of changes in ex-
change rates and interest rates.
In order for this financial instrument to qualify for hedge accounting, it was initially designated as
such and the hedging relationship was documented. Also, the Group verifies, both at inception
and periodically over the term of the hedge (at least at the end of each reporting period), that the
hedging relationship is effective, i.e. that it is prospectively foreseeable that the changes in the fair
value or cash flows of the hedged item (attributable to the hedged risk) will be almost fully offset by
those of the hedging instrument and that, retrospectively, the gain or loss on the hedge was within
a range of 80-125% of the gain or loss on the hedged item.
In a cash flow hedge, the portion of the gain or loss on the hedging instrument that has been de-
termined to be an effective hedge is recognised temporarily in equity and is recognised in the con-
solidated income statement in the same period during which the hedged item affects profit or loss,
unless the hedge relates to a forecast transaction that results in the recognition of a non-financial
asset or a non-financial liability, in which case the amounts recognised in equity are included in the
initial cost of the asset or liability when it is acquired or assumed.
Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or exer-
cised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the
hedging instrument recognised in equity is retained in equity until the forecast transaction occurs. If a
hedged transaction is no longer expected to occur, the net cumulative gain or loss recognised in equity
is transferred to net profit or loss for the year and the amount thereof is recognised as financial profit
or loss in the consolidated income statement.
G) INVENTORIES
Inventories include spare parts and sundry materials at the Central Warehouses and the Parent’s Lo-
gistics Support Centre, and are initially measured at cost (weighted average cost). Acquisition cost is
based on historic cost for items identified in the purchases books. Subsequently, if the net realisable
value of the inventories is lower than the acquisition cost, the appropriate write-downs will be made.
If the circumstances causing the inventories to be written down ceased to exist, the amount of the
write-down would be reversed.
H) fOREIGN CURRENCY TRANSACTIONS
The Group’s functional currency is the euro. Therefore, transactions in currencies other than the euro
are deemed to be “foreign currency transactions” and are recognised by applying the exchange
rates prevailing at the date of the transaction.
Any exchange differences arising on settlement or translation at the closing rates of monetary items
are recognised in the consolidated income statement for the year.
I) INCOME TAx
Tax expense (tax income) comprises current tax expense (current tax income) and deferred tax ex-
pense (deferred tax income).
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Annual report 2010 128
The current income tax expense is the amount payable as a result of income tax settlements
for a given year. Tax credits and other tax benefits, excluding tax withholdings and pre-
payments, and tax loss carryforwards from prior years effectively offset in the current year
reduce the current income tax expense.
The deferred tax expense or income relates to the recognition and derecognition of deferred
tax assets and liabilities. These include temporary differences measured at the amount ex-
pected to be payable or recoverable on differences between the carrying amounts of assets
and liabilities and their tax bases, and tax loss and tax credit carryforwards. These amounts
are measured at the tax rates that are expected to apply in the period when the asset is
realised or the liability is settled.
Deferred tax liabilities are recognised for all taxable temporary differences,
Deferred tax assets are recognised to the extent that it is considered probable that the
Parent will have taxable profits in the future against which the deferred tax assets can be
utilised.
Deferred tax assets and liabilities arising from transactions charged or credited directly to
equity are also recognised in equity.
The deferred tax assets recognised are reassessed at the end of each reporting period and
the appropriate adjustments are made to the extent that there are doubts as to their future
recoverability. Also, unrecognised deferred tax assets are reassessed at the end of each re-
porting period and are recognised to the extent that it has become probable that they will
be recovered through future taxable profits.
Since 2005, the Parent, as head of the AENA Group, has filed consolidated tax returns with
certain subsidiaries as they meet the requirements established in this connection.
The companies which form the tax group, together with the Company in 2009 are as follows:
1. Aena Desarrollo Internacional, S.A.
2. Centros Logísticos Aeroportuarios, S.A.
J) REVENUE AND ExPENSES
Revenue and expenses are recognised on an accrual basis, i.e. when the actual flow of the related
goods and services occurs, regardless of when the resulting monetary or financial flow arises.
Interest income from financial assets is recognised using the effective interest method and
dividend income is recognised when the shareholder’s right to receive payment has been
established. Interest and dividends from financial assets accrued after the date of acquisition
are recognised as consolidated income.
K) PROVISIONS AND CONTINGENCIES
In preparing its consolidated financial statements, the Group distinguishes between:
a) Provisions: credit balances covering present obligations arising from past events with respect to
which it is probable that an outflow of resources embodying economic benefits that is uncertain
as to its amount and/or timing will be required to settle the obligations.
b) Contingent liabilities: possible obligations that arise from past events and whose existence will
be confirmed only by the occurrence or non-occurrence of one or more future events not wholly
within the Group’s control.
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Annual report 2010 129
The consolidated financial statements include all the provisions with respect to which it is considered
that it is more likely than not that the obligation will have to be settled. Contingent liabilities are not
recognised in the consolidated financial statements, but rather are disclosed to the extent that they
are deemed possible.
Provisions are measured at the present value of the best possible estimate of the amount required
to settle or transfer the obligation to a third party. Where discounting is used, adjustments made
to provisions are recognised as interest cost on an accrual basis.
The main estimates made by the Group were as follows:
Provisions for employment benefit obligations acquiredThe cost of the obligations arising from employee benefit obligations is recognised on an accrual
basis, in accordance with the best estimate calculated using the data available to the Group.
Specifically, the accompanying balance sheet includes the following provisions for employment be-
nefit obligations acquired:
Long-service bonusesArticle 139 of the Company’s Fifth Collective Labour Agreement and Article 141 of the First Air Tra-
ffic Controllers’ Collective Labour Agreement provide for certain long-service bonuses for services
effectively rendered for 25 and 30 years in the first case, and for 25 and 35 years in the second. The
Parent recognises the present value of the best possible estimate of future obligations, based on an
actuarial calculation. The main assumptions used to obtain the actuarial calculation were as follows:
− Discount rate: 4.63%
− Salary growth: 2.0%
− Mortality table: PERM/F2000
− Financial system used: Individual capitalisation
− Accrual method: Projected Unit Credit
− Retirement age: 65 years
− Disability tables: Ministerial order 1977
Early retirement bonusUnder Article 154 of the Fourth Collective Labour Agreement, all employees aged between 60
and 64 years of age who, pursuant to current legislation are entitled to do so, may retire early
voluntarily and receive a termination benefit which, combined with the consolidated entitle-
ments under the Pension Plan at the date of termination of their contracts, is equivalent to four
months’ salary, calculated on the basis of their basic pay plus their long-service bonus, for every
year remaining until they reach 64 years of age, or the related proportional part.
In 2004 the early retirement bonuses were externalised through a single premium life insurance
policy taken out on 25 March 2004 with Mapfre Vida.
The Parent recognises the assets or liabilities arising from the difference between the present value
of the remuneration commitments and the present value of the externalised plan assets. The main
assumptions used in the measurement were as follows:
− Discount rate: 4.00%
− Annual CPI increase: 3.00%
− Mapfre guaranteed rate: 3.10%
− Mortality table: PERM/F2000
− Financial system used: Individual capitalisation
− Accrual method: Projected Unit Credit
− Retirement age: 65 years
Participation bonuses and otherThis heading includes salary items accrued but not paid relating to remuneration arising from agree-
ments entered into between the Company and the Air Traffic Controllers’ Labour Union in prior years
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Annual report 2010 130
before Royal Decree-Law 1/2010, of 5 February. These provisions are measured at their nominal value,
as this does not differ significantly from their present value.
Special Paid Leave (LER) and Active Reserve (RA)This provision includes the actuarial liability which measures the acquired commitments to
the air traffic controller employees who have availed themselves of special paid leave and
the best estimate of the number of employees that might join the active reserve in the fu-
ture.
The main actuarial assumptions used in the calculation were as follows:
- Discount factor: IRS zero-coupon curve
- Annual CPI growth: 3.0%
- Mortality table: PERM/F2000P
- Financial system used: Individual capitalisation
- Accrual method: Projected Unit Credit
As this is not a post-employment benefit, the impact generated by changes in actuarial assumptions
are recognised in the income statement.
Provision for productivity bonusThis provision includes the difference between the total salary authorised for the air traffic contro-
llers in a year and the remuneration earned in that year. This amount is used to pay a productivity
bonus which is paid within twelve months after year-end.
L) TERMINATION BENEfITS
Under current employment legislation, the Group is required to pay termination benefits to
employees terminated under certain conditions. Termination benefits that can be reasonably
quantified are recognised as an expense in the year in which the decision to terminate the
employment relationship is taken. The directors of the Company and its subsidiaries do not
foresee any terminations in the future that might make it necessary to recognise a provision in
this connection.
M) ACTIVITIES WITH AN ENVIRONMENTAL IMPACT
Environmental activities are those the purpose of which is to prevent, reduce or redress dama-
ge to the environment.
In this respect, investments made in connection with environmental activities are measured at
acquisition cost and are capitalised as an addition to non-current assets in the year in which
they are made, using the methods described in Note 4-b.
The expenses arising from environmental protection and enhancement measures are charged
to income in the year in which they are incurred, regardless of when the resulting monetary
or financial flow arises.
The provisions for probable or certain third-party liability, litigation in progress and outstan-
ding environmental indemnity payments or obligations of undetermined amount not covered
by the insurance policies taken out are recognised, where appropriate, when the liability or
obligation giving rise to the indemnity or payment arises, as described in Note 4-k.
N) GRANTS, DONATIONS OR GIfTS AND LEGACIES RECEIVED
Non-refundable grants, donations or gifts and legacies related to assets are recognised as
such when there is a specific agreement relating to the award of the grant, the conditions
established for the award of the grant have been met and there are no reasonable doubts in
relation to the award thereof. Since 2009 -in the case of grants awarded for the construction
Legal InformationAnnual consolidated profit
Annual report 2010 131
of assets the execution of which has not yet been completed- grants have been classified as
non-refundable in proportion the construction work completed provided that there are no
reasonable doubts that the construction will be completed in accordance with the terms and
conditions established in the concession agreement (see Note 2-f). In general, they are measu-
red at the fair value of the amount or the asset granted and are initially recognised as income
net of tax recognised directly in equity and are allocated to profit or loss in proportion to the
period depreciation on the assets for which they were granted, except in the case of non-
depreciable assets, the grants for which are allocated to profit or loss in the year in which the
assets are disposed of or impairment losses are recognised. Government grants to compensate
costs are recognised in profit or loss on a systematic basis over the periods in which the Group
recognises as expenses the related costs for which the grants are intended to compensate.
Refundable grants, donations or gifts and legacies received are recognised as liabilities of
the company until they become non-refundable or are repaid.
Grants related to income are credited to income when granted, unless their purpose is to
finance losses from operations in future years, in which case they are allocated to income in
those years. If grants are received to finance specific expenses, they are allocated to income
as the related expenses are incurred.
O) RELATED PARTY TRANSACTIONS
The Company and its subsidiaries perform all their transactions with related parties on an
arm’s length basis. Also, the transfer prices are adequately supported and, therefore, the
directors of the Company and its subsidiaries consider that there are no material risks in this
connection that might give rise to significant liabilities in the future.
5. INTANGIBLE ASSETS
The changes in intangible assets in 2010 and 2009 were as follows:
THOUSANDS OF EUROS
DEVELOPMENT EXPENDITURE
OTHER INTANGIBLE
ASSETS
COMPUTER SOFTWARE
TOTAL
COST:
Balance at 1 January 2010 96.796 208.310 334.267 639.373
Loss of control (See note 2.h) - - (1.895) (1.895)
Additions 18.881 4.803 56.802 80.486
Disposals / reductions - (12.012) (10.238) (22.250)
Transfers (Note 6 and 7) (13.530) (52.941) 33.759 (32.712)
Balance at 31 December 2010 102.147 148.160 412.695 663.002
ACCuMuLATED AMORTISATION:
Balance at 1 January 2010 (10.176) (135.566) (211.071) (356.813)
Loss of control (See note 2.h) - - 1.254 1.254
Amortisation charge (5.600) (2.376) (41.796) (49.772)
Disposals / reductions - 7.130 10.064 17.194
Transfers (Note 6 and 7) (272) 411 188 327
Balance at 31 December 2010 (16.048) (130.401) (241.361) (387.810)
Net: 86.099 17.759 171.334 275.192
2010
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Annual report 2010 132
THOUSANDS OF EUROS
DEVELOPMENT EXPENDITURE
OTHER INTANGIBLE
ASSETS
COMPUTER SOFTWARE
TOTAL
COST:
Balance at 1 January 2009 34.522 262.217 298.262 595.001
Additions 17.576 21.993 54.304 93.873
Disposals / reductions (94) (1.042) (21.029) (22.165)
Transfers (Note 6) 44.792 (74.858) 2.730 (27.336)
Balance at 31 December 2009 96.796 208.310 334.267 639.373
ACCuMuLATED AMORTISATION:
Balance at 1 January 2009 (9.447) (131.552) (194.661) (335.660)
Amortisation charge (790) (4.248) (36.807) (41.845)
Disposals / reductions 34 19 20.430 20.483
Transfers (Note 6) 27 215 (33) 209
Balance at 31 December 2009 (10.176) (135.566) (211.071) (356.813)
Net: 86.620 72.744 123.196 282.560
2009
Main additionsThe main additions in 2010 and 2009 to “Computer Software” related to acquisitions and to impro-
vements to and the development of new technology for computer software, in particular in relation
to navigation and airport central services.
In 2010 the Parent capitalised EUR 0.95 million (EUR 5.02 million in 2009) relating to finance costs
incurred during the development period of intangible assets.
Fully amortised intangible assetsAt 31 December 2010, intangible assets with an original cost of EUR 292.91 million were fully amor-
tised and are still in use (EUR 276,98 million at 31 December 2009).
The detail is as follows:
DESCRiPTIONTHOUSANDS OF EUROS
2010 2009
Development expenditure 11.713 4.396
Computer software 151.097 135.657
Other intangible assets 130.098 136.924
Total 292.908 276.977
Legal InformationAnnual consolidated profit
Annual report 2010 133
6.PROPERTY,PLANTANDEQUIPMENT
The changes in “Property, Plant and Equipment” in 2010 and 2009 were as follows:
THOUSANDS OF EUROS
LAND AND BUILDINGS PLANT AND MACHINERYOTHER FIXTURES,
TOOLS AND FURNITURE
PROPERTY, PLANT ANDEQUIPMENTINTHE
COURSE OF
OTHER ITEMS OF PROPERTY, PLANTANDEQUIPMENT
TOTAL
COST:
Balance at 1 January 2010 13.119.063 1.845.419 3.285.836 2.697.781 402.965 21.351.064
Loss of control (See note 2.h) (13.191) (3.883) (2.988) - (2.741) (22.803)
Additions 318.682 44.794 115.193 944.956 32.637 1.456.262
Disposals / reductions (57.168) (37.358) (25.019) (34.617) (23.655) (177.817)
Transfers (Note 5) 1.022.196 104.085 362.982 (1.490.072) 33.022 32.213
Balance at 31 December 2010 14.389.582 1.953.057 3.736.004 2.118.048 442.228 22.638.919
ACCuMuLATED DEPRECIATION:
Balance at 1 January 2010 (2.998.681) (999.518) (1.173.155) - (303.266) (5.474.620)
Loss of control (See note 2.h) 4.223 2.290 1.990 - 1.368 9.871
Depreciation charge (420.878) (135.210) (237.724) - (25.519) (819.331)
Disposals / reductions 22.046 34.636 21.481 - 23.576 101.739
Transfers (Note 5) 58 (841) (294) - 750 (327)
Balance at 31 December 2010 (3.393.232) (1.098.643) (1.387.702) - (303.091) (6.182.668)
Net: 10.996.350 854.414 2.348.302 2.118.048 139.137 16.456.251
2010
Legal InformationAnnual consolidated profit
Annual report 2010 134
The detail of the value of the buildings and land relating to the properties owned by the Group at
the end of 2010 and 2009 is as follows:
PROPERTYTHOUSANDS OF EUROS
2010 2009
Land 3.313.319 3.346.024
Buildings 11.076.263 9.773.039
Total 14.389.582 13.119.063
At 2010 and 2009 year-end, the subsidiary Aena Desarrollo Internacional had arranged a finance
lease with BBVA (see Notes 8 and 14) on an automated flight inspection system (console) which is
recognised under “Other Items of Property, Plant and Equipment – Computer Hardware”.
Interest expenses incurred in 2010 totalling EUR 39.97 million were capitalised in relation to the finan-
cing of property, plant and equipment in the course of construction and EUR 7.11 million were capi-
talised in relation to in-house work performed by the Company on its property, plant and equipment.
Interest expenses incurred in 2009 totalling EUR 68.63 million were capitalised in relation to the finan-
cing of property, plant and equipment in the course of construction and EUR 11.29 million were capi-
talised in relation to in-house work performed by the Company on its property, plant and equipment.
THOUSANDS OF EUROS
LAND AND BUILDINGS PLANT AND MACHINERYOTHER FIXTURES,
TOOLS AND FURNITURE
PROPERTY, PLANT ANDEQUIPMENTINTHE
COURSE OF
OTHER ITEMS OF PROPERTY, PLANTANDEQUIPMENT
TOTAL
COST:
Balance at 1 January 2009 11.680.537 1.682.676 2.528.256 3.652.705 346.856 19.891.030
Additions 273.877 56.963 114.823 1.122.372 32.310 1.600.345
Disposals / reductions (66.910) (37.751) (20.127) (30.231) (12.628) (167.647)
Transfers (Note 5) 1.231.559 143.531 662.884 (2.047.065) 36.427 27.336
Balance at 31 December 2009 13.119.063 1.845.419 3.285.836 2.697.781 402.965 21.351.064
ACCuMuLATED DEPRECIATION:
Balance at 1 January 2009 (2.647.002) (904.064) (991.882) - (267.453) (4.810.401)
Depreciation charge (377.316) (127.971) (197.963) - (48.822) (752.072)
Disposals / reductions 25.873 32.235 17.463 - 12.491 88.062
Transfers (Note 5) (236) 282 (773) - 518 (209)
Balance at 31 December 2009 (2.998.681) (999.518) (1.173.155) - (303.266) (5.474.620)
Net: 10.120.382 845.901 2.112.681 2.697.781 99.699 15.876.444
2009
Legal InformationAnnual consolidated profit
Annual report 2010 135
Non-current asset additionsThe main additions recognised in 2010 were as follows:
Land and buildingsThe additions amount to EUR 35 million and relate mainly to the land acquired to carry out ex-
pansions at various airports.
The main additions to “Buildings” in 2010 relate to assets of the Barcelona-El Prat airport, and
to construction work for the expansion of Málaga airport, which includes a new runway.
Property, plant and equipment in the course of constructionThe main additions in 2010 relate to the extensions of the Malaga, Alicante, Santiago y La Co-
ruña airports.
Plant and other items of property, plant and equipmentThe additions in 2010 related mainly to the installations required for the expansion of Málaga
airport and of the new terminal at Barcelona-El Prat airport.
DisposalsThe main disposals for 2010 relate to the renewal of computer hardware and other facilities of
the Central Air Traffic Control Services and the Centre-North Regional Division. Also worthy of
note are the renovation of Madrid/Barajas and Valencia airports.
Disposals in 2010 include the following items, for which the loss incurred upon disposal was not
recognised in the income statement:
- Reversals of provisions recognised in prior years for differences in the just compensation ari-
sing mainly in procedures for the compulsory purchase of land and for planned environmental
investments in order to comply with prevailing legislation; a charge of EUR 26.026 thousand
was made to provisions for contingencies and charges, EUR 431 thousand to deposits and EUR
32,087 thousand to non-current asset suppliers.
Impairment The Parent considered that there were no indications of impairment at 31 December 2010 that
would require the recognition of an impairment loss.
Grants receivedAt 31 December 2010, the Parent received grants in connection with its property, plant and
equipment and intangible assets for an accumulated amount of EUR 450.4 million (net of tax),
of which EUR 50,0 million correspond to additions in the year (see Note 12-g). The gross cost
of the assets associated with these grants is EUR 2.606,6 million, of which EUR 2.590,2 million
relate to property, plant and equipment, and EUR 16,4 million to intangible assets.
LimitationsThe assets assigned to the consolidated Group relating to the Company Aeropuertos Españoles
y Navegación Aérea, are public domain assets with respect to which Aeropuertos Españoles y
Navegación Aérea does not have title or powers of disposal or encumbrance.
Fully amortised items of property, plant and equipmentAt 31 December 2010, the property, plant and equipment in use with an original cost of EUR
1.585,52 million (EUR 1.370,66 million in 2009) were fully amortised and are still in use, the
detail being as follows:
DESCRIPTIONTHOUSANDS OF EUROS
2010 2009
Buildings 603.919 462.636
Plant and machinery 443.489 411.927
Other fixtures, tools and furniture 357.426 296.534
Other items of property, plant and equipment 177.687 199.561
Total 1.582.521 1.370.658
Legal InformationAnnual consolidated profit
Annual report 2010 136
ObligationsAt 31 December 2010, the investments yet to be performed amounted to approximately EUR 784
million (EUR 1,155 million in 2009), comprising both contracts that have not yet been formalised and
firm contracts not yet executed.
Insurance policiesThe Group takes out insurance policies to sufficiently cover the possible risks to which its property,
plant and equipment are subject. At 31 December 2010 and 31 December 2009, property, plant and
equipment were fully insured against such risks.
7. INVESTMENT PROPERTY
“Investment Property” in the consolidated balance sheet includes the value of buildings, other struc-
tures and fixtures held to earn rentals, with the exception of land used by the subsidiary Centros
Logísticos Aeroportuarios, S.A for its activity.
The changes in 2010 and 2009 in “Investment Property” in the consolidated balance sheet and the
most significant information affecting this heading were as follows:
THOUSANDS OF EUROS
LAND AND BUILDINGS
PLANTOTHER
FIXTURESTOTAL
Cost:
Balance at 1 January 2010 111.343 4.940 26 116.309
Additions 95 286 - 381
Disposals or reductions (251) (60) - (311)
Transfers (Note 5 and 6) (346) 153 - 499
Balance at 31 December 2010 111.533 5.319 26 116.878
Accumulated depreciation:
Balance at 1 January 2010 (23.405) (2.085) (14) (25.504)
Depreciation charge (3.136) (277) (3) (3.416)
Disposals or reductions 23 30 - 53
Transfers (Note 5 and 6) - - - -
Balance at 31 December 2010 (26.518) (2.332) (17) (28.867)
Net: 85.015 2.987 9 88.011
2010
THOUSANDS OF EUROS
LAND AND BUILDINGS
PLANTOTHER
FIXTURESTOTAL
Cost:
Balance at 1 January 2009 111.040 4.803 26 115.869
Additions 303 197 - 500
Disposals or reductions - (60) - (60)
Balance at 31 December 2009 111.343 4.940 26 116.309
Accumulated depreciation:
Balance at 1 January 2009 (20.260) (1.866) (11) (22.137)
Depreciation charge (3.145) (254) (3) (3.402)
Disposals or reductions - 35 - 35
Balance at 31 December 2009 (23.405) (2.085) (14) (25.504)
Net: 87.938 2.855 12 90.805
2009
Legal InformationAnnual consolidated profit
Annual report 2010 137
Investment property additionsThe main additions in 2010 relate to technology facilities associated with energy efficiency and
sustainable development and other technical facilities in the central services buildings of the
subsidiary Centros Logísticos Aeroportuarios, S.A.
Investment property obligationsAt 2010 and 2009 year-end, no investment property items were subject to guarantees.
Insurance policiesThe Group takes out insurance policies to cover the possible risks to which its investment pro-
perty is subject. At 2010 year-end, the Group was reasonably insured against such risks.
Fully depreciated investment propertyAt 31 December 2010 there were no fully depreciated investment property items that were still
in use. At 31 December 2009 there were fully depreciated investment property items in use
with an original cost of EUR 60 thousand.
8. LEASES
Finance leasesAt 2008 year-end, the subsidiary Aena Desarrollo Internacional had arranged a finance lease
on an automated flight inspection system (console) which is recognised under “Property, Plant
and Equipment” in the accompanying consolidated balance sheet at 31 December 2010 (see
Note 6).
At 31 December 2010, the amount of the minimum lease payments payable in the future,
excluding inflation increases or other contingent payments arising from the aforementioned
finance lease, are as follows:
MINIMUM FINANCE LEASE PAYMENTSTHOUSANDS OF EUROS
2010 2009
Within one year 441 454
Between one and five years 2.016 2.419
After five years 574 715
Total 3.031 3.588
At 31 December 2010 the interest maturing on this agreement in coming years, was as follows:
INTEREST - MATURITYTHOUSANDS OF EUROS
2010 2009
Within one year 41 36
Between one and five years 93 100
After five years 3 2
Total 137 138
Operating leasesThe Parent uses various assets under operating leases arranged with third parties, of which the most
noteworthy are detailed below, together with the main characteristics of the related contracts:
ASSET LOCATIONLEASE EXPIRY
DATE
ANNUAL LEASE PAY-MENTS EXCLUDING VAT
(IN THOUSANDS OF EUROS)
COMMENTS
Piovera building Madrid 31/01/2016 3.874Payments subject to review based on CPI
Pegaso building Madrid 30/06/2016 1.627Payments subject to review based on CPI
Juan Ignacio Luca de Tena building Madrid 30/06/2011 1.663Payments subject to review based on CPI
Merrimack 4 building Madrid 30/06/2011 1.697Payments subject to review based on CPI
Legal InformationAnnual consolidated profit
Annual report 2010 138
The translation differences arising in 2010 amounting to EUR 8,186 thousand relate to the diffe-
rence between this balance in 2009 (negative balance of EUR 7,505 thousand) and 2010 (EUR 681
thousand). See Note 12-f.
At the end of 2010, the subsidiary CLASA had contracted with tenants for the following mi-
nimum lease payments, based on the leases currently in force, without taking into account the
charging of common expenses, future increases in line with the CPI or future contractual lease
payment revisions:
LEASE PAYMENTS MINIMUM OPERATINGTHOUSANDS OF EUROS
2010 2009
Within one year 1.621 1.954
Between one and five years 2.512 4.022
More than 5 years 410.845 439.483
Total 414.978 445.459
These leases relate mainly to the assets included under “Investment Property” with an original
cost of EUR 116.838 thousand (EUR 116,309 thousand in 2009), receiving annual rental income
of EUR 18.158 thousand (EUR 18.740 thousand in 2009). The total built area measures 137
thousand square metres.
9. FINANCIAL ASSETS
9.1 NON-CURRENT INVESTMENTS IN GROUP COMPANIES AND ASSOCIATES
Investments in companies accounted for using the equity method
The detail and changes in investments in companies accounted for using the equity method in 2010
and 2009 is as follows:
THOUSANDS OF EUROS
COMPANYBALANCE
AT 31/12/09SHARE OF RESULTS OF
INVESTEES DIVIDENDS
PAIDTRANSLATION DIFFERENCES
OTHERBALANCE
AT 31/12/10
RAESA 2.862 1.306 (2.039) - - 2.129
AMP 56.588 5.966 - 7.920 (138) 70.336
SACSA 1.308 1.516 (1.507) 130 252 1.699
ACSA 628 1.817 (1.588) 19 126 1.002
AEROCALI 1.865 987 (1.082) 117 183 2.070
INECO - 6.305 (8.062) - 43.377 41.620
TIFSA 16.507 - - - (16.507) -
79.758 17.897 (14.278) 8.186 27.293 118.856
THOUSANDS OF EUROS
COMPANYBALANCE
AT 31/12/08SHARE OF RESULTS
OF INVESTEESDIVIDENDS
PAIDTRANSLATION DIFFERENCES
OTHERBALANCE
AT 31/12/09
RAESA 3.459 1.059 (1.656) - - 2.862
AMP 52.625 5.947 (3.222) 1.303 (65) 56.588
SACSA 1.277 1.111 (1.021) 160 (219) 1.308
ACSA 613 1.044 (1.088) 111 (52) 628
AEROCALI 1.782 899 (921) 167 (62) 1.865
TIFSA 14.849 4.371 (2.713) - - 16.507
74.605 14.431 (10.621) 1.741 (398) 79.758
2010
2009
Legal InformationAnnual consolidated profit
Annual report 2010 139
The balance at 31 December 2010 and 2009 includes the goodwill on consolidation of the compa-
nies accounted for using the equity method, net of accumulated amortisation, arising on the acqui-
sition in 2006 of the additional 7,83% stake in AMP for EUR 2,126 thousand.
9.2. NON-CURRENT fINANCIAL ASSETS
The detail of “Non-Current Financial Assets” at the end of 2010 and 2009 was as follows:
NON-CURRENT FINANCIAL ASSETSTHOUSANDS OF EUROS
2010 2009
Equity instruments 58.351 59.153
Derivatives (Note 10) 1.219 411
Long-term deposits and guarantees 1.388 2.006
Total 60.958 61.570
a) Equity instrumentsA detail of the most significant equity instruments is as follows:
Name and Location Line of BusinessFraction of Direct
Capital (%)Owner of Investment
Agencia Barcelona Regional, Edificio Centreservei, Zona Franca, Ca-rrer 60, 25-27 • Barcelona
Analyses and prospecting in relation to urban development, regional and environmental matters. Design, development, management, implementation, execution and operation of, and counse-lling on, all manner of construction work, buildings and urban infrastructures and systems in the metropolitan area.
11,76 AENA
GroupEAD Europe S.L, Juan Ignacio Luca de Tena 14 • MadridOperation of a database system for aeronautical information systems. Development and imple-mentation of changes in and improvements to the database and related consulting services.
36 AENA
Grupo Navegación por Satélite Sistemas y Servicios, S.L., C/ Gobelas nº41 • Madrid
Development, implementation, operation, exploitation and marketing of services related to the global satellite navigation system currently known as Galileo.
19,30 AENA
Airport Concessions and Development Limited (ACDL), 10, upper Bank St • London - u.K.
Financial asset management of TBI airport group. 10 AENA Desarrollo Internacional
European Satellite Service Provider, SAS (ESSP SAS) • Toulouse - France Development of satellite navigation system. 16,67 AENA Desarrollo Internacional
European Satellite Service Provider, European Economic Interest Grouping. (ESSP EEIG) • Brussels-Belgium
Development of satellite navigation system. 16,67 AENA Desarrollo Internacional
Legal InformationAnnual consolidated profit
Annual report 2010 140
9.3 CURRENT fINANCIAL ASSETS
The balance of “Current Financial Assets” at the end of 2010 and 2009 was as follows:
CURRENT FINANCIAL ASSETSTHOUSANDS OF EUROS
2010 2009
Loans to companies 1.540 3.882
Short-term deposits and guarantees 4.966 5.083
Other financial assets 8.136 7.655
Total 14.642 16.620
The subsidiary Aena Desarrollo Internacional includes under “Other Financial Assets” a credit line
amounting to EUR 1,119 thousand. Is also includes the following short-term deposits, and the rela-
ted accrued interest receivable, denominated in US dollars and arranged with the following banks,
all of which mature within one year and earn interest at a market rate:
The detail and changes in the most significant equity instruments in the accompanying consolidated
balance sheet at 31 December 2010 is as follows:
B) TRANSACTIONS AND BALANCES WITH COMPANIES ACCOUNTED fOR USING THE EQUITY METHODThe breakdown of receivables and payables and the detail of the transactions performed with companies accounted for using the equity method at 31 December 2010 and 31 December 2009 are as follows:
THOUSANDS OF EUROS
EQUITYINSTRUMENTS-AVAILABLE-FORSALEFINANCIALASSETS - MEASURED AT COST:
BALANCE AT 31/12/09
ADDITIONS AND CHARGES
BALANCE AT 31/12/10
Airport Concessions and Development Limited (ACDL) 78.596 - 78.596
European Satellite Services Provider (ESSP EEIG) 18 - 18
European Satellite Services Provider, SAS (ESSP SAS) 167 - 167
Agencia Barcelona Regional 180 - 180
GroupEAD Europe S.L. 360 - 360
Grupo Navegación por Satélite Sistemas y Servicios, S.L. 198 - 198
Empresa para la Gestión de Residuos Industriales, S.A.U. (EMGRISA)
6 - 6
Impairment-
Airport Concessions and Development Limited (ACDL) (21.174) - (21.174)
Total investment in “Equity Instruments" 58.351 - 58.351
THOUSANDS OF EUROS
AMOUNTS RECEIVABLE
PAYABLE TO COMPANIES ACCOUNTED FOR USING
THEEQUITYMETHOD
SUNDRY ACCOUNTS
PAYABLE
NON-CURRENT ASSET PURCHASES
INCOME FROM SERVICES PROVIDED
EXPENSES DUE TO
SERVICES RECEIVED
INECO 24 15.045 10.606 39.594 207 27.797
RAESA 5.182 - 94 - 18.009 594
ACSA 24 - - - 320 -
SACSA 30 - - - 445 -
AMP 915 2.910 - - 2.820 -
Aerocali 15 - - - 433 -
GAP 37 - - - 40 -
6.227 17.955 10.700 39.594 22.274 28.391
2009
THOUSANDS OF EUROS
RECEIVABLES SUPPLIERINCOME FROM SERVICES
PROVIDEDEXPENSES OF
SERVICES RECEIVED
TIFSA 5.661 1.081 37.791 9.677
RAESA 4.837 170 16.989 750
ACSA 55 - 425 -
SACSA 19 - 314 -
AMP 777 - 2.410 -
Aerocali 13 - 215 -
GAP 170 - 107 -
11.532 1.251 58.251 10.427
Legal InformationAnnual consolidated profit
Annual report 2010 141
2010
THOUSANDS OF USD THOUSANDS OF EUROS
Banco popular 2.550 1.9254
Banesto 6.780 5.092
Total 9.330 7.017
2009
THOUSANDS OF USD THOUSANDS OF EUROS
La Caixa 3.007 2.087
Caja de Madrid 2.012 1.396
Barclays Bank 3.503 2.432
Santander Central Hispano 2.506 1.740
Total 11.028 7.655
9.4 INfORMATION ON THE NATURE AND LEVEL Of RISK Of fINANCIAL INSTRUMENTS
The main principle of the financial policies of the companies composing the Aena Group is based
on their being centralised at the Administration and Finance department, to the extent that all the
financial assets and liabilities are arranged and managed by this department. The main financial risks
are as follows:
a) Interest rate riskThe Company’s objective in relation to interest rate risk management is to optimise the finance costs
within the risk limits established. The Company does not usually perform commercial transactions in cu-
rrencies other than the euro (unlike subsidiaries such as Aena Desarrollo Internacional), and accordingly,
the finance cost risk is focused on interest rate risk in the case of the Parent, the risk variables being three-
month Euribor (used for non-current payables) and one-month Euribor (used in credit facilities).
The finance cost risk is also calculated for the duration of the Pluriannual Action Plan (PAP), establishing
interest rate performance scenarios for the period in question.
The Company has arranged transactions to hedge the risk of changes in interest rates, as detailed
in Note 10.
b) Liquidity riskThe main risk variables are: limitations in the financing markets, increase in forecast investment and
decrease in cash-flow generation.
In order to maintain sufficient liquidity to meet the financial requirements over a minimum of twelve
months, a long-term financing policy was established by signing agreements or framework agree-
ments with institutions such as Instituto de Crédito Oficial and the European Investment Bank, and
by arranging short- and medium-term liquidity lines.
This risk is managed by closely monitoring the maturity schedule of the Group’s financial payables,
and through the proactive management and maintenance of credit lines that enable the projected
liquidity needs to be covered.
Lastly, the Group makes cash projections on a systematic basis in order to assess its cash needs. This
liquidity policy ensures the fulfilment of the payment obligations assumed without having to resort
to high interest-bearing financing, thereby enabling the liquidity position to be maintained on an
ongoing basis .
c) Credit riskThe risk variable is the credit rating of the counterparty, and, accordingly, the objective is focused on
minimising the risk of counterparty non-compliance without adversely affecting the price. In general,
the Parent holds its cash and cash equivalents at banks with high credit ratings.
Legal InformationAnnual consolidated profit
Annual report 2010 142
d) Foreign currency riskThe subsidiary Aena Desarrolllo Internacional is exposed to exchange rate fluctuations which
might affect its sales, profit, equity and cash flows. In this respect, this subsidiary has arranged
a cash flow hedge as a result of changes in exchange rates which is described in Note 10.
10. DERIVATIVE FINANCIAL INSTRUMENTS
The Group uses derivative financial instruments to hedge the risks to which its business activities,
operations and future cash flows are exposed.
Derivative financial hedging instrumentsThe Group has arranged a hedging instrument for cash flows arising from changes in exchange rates
in order to hedge the risk associated with cash flows in US dollars between the collections received by
the subsidiary Aena Desarrollo Internacional in US dollars for the provision of certain services under the
various agreements relating to the management of Mexican airports, and the payments (repayments)
of the loan arranged in US dollars with Banco Santander which is recognised under “Equity- Hedges”
in the accompanying consolidated balance sheet at 31 December 2019 and 31 December 2009, the
detail being as follows:
2010
CLASSIFICATION MATURITY (*)
INEFFECTIVENESS RECOGNISED IN 2010
PROFIT OR LOSS (THOUSANDS OF EUROS)
FAIR VALUE RECOGNISED IN“EQUITY”AT31/12/10(THOUSANDS OF EUROS)
Foreign currency derivative
Foreign currency hedge
08.10.2014 3 562
(*) The hedging instrument matures with the year in which the cash flows affecting the consolidated income statement will foreseeably occur.
2009
CLASSIFICATION MATURITY (*)
INEFFECTIVENESS RECOGNISED IN 2009
PROFIT OR LOSS (THOUSANDS OF EUROS)
FAIR VALUE RECOGNISED IN“EQUITY”AT31/12/09(THOUSANDS OF EUROS)
Foreign currency derivative
Foreign currency hedge
08.10.2014 18 933
(*) The hedging instrument matures with the year in which the cash flows affecting the consolidated income statement will foreseeably occur.
In 2010 and 2009, the subsidiary Aena Desarrollo Internacional, S.A. complied with the require-
ments detailed in Note 4-f to be able to classify this financial instrument as a hedge. Specifically,
these instruments were formally designated as hedges and the effectiveness of the hedging relation-
ship was verified.
At 2010 year-end, EUR 38 thousand were recognised in relation to changes in the fair value
of this derivative financial instrument (31 December 2009: EUR 34 thousand) under “Changes
in Fair Value of Financial Instruments” in the accompanying consolidated income statement
for 2010.
Legal InformationAnnual consolidated profit
Annual report 2010 143
Interest rateThe Company arranged in the financial year 2010 and 2009 certain interest-rate hedging financial
instruments, the detail of which is as follows:
2010
CLASSIFICATION TYPE
AMOUNT ARRANGED
(THOUSANDS OF EUROS
MATURITY
FAIR VALUE RECOGNISED UNDER “CURRENT
LIABILITIES” AT 31/12/10 (THOUSANDS OF EUROS)
FAIR VALUE RECOGNISED UNDER “NON-CURRENT LIABILITIES” AT 31/12/09(THOUSANDS OF EUROS)
FAIR VALUE RECOGNISED UNDER “NON-CURRENT
ASSETS” AT 31/12/10(THOUSANDS OF EUROS)
FAIR VALUE RECOGNISED UNDER“EQUITY”
AT 31/12/10 (THOUSANDS OF EUROS)
Interest rate swapInterest rate
hedgeFixed (4.83%) to floating
interest rate swap2.000 01.10.2012 - 105 - -
Interest rate swapInterest rate
hedgeFloating (3-month Euribor) to
fixed (2.8025%)1.194.391 15.03.2012
18.996 11.967 1.219 20.820Interest rate swapInterest rate
hedgeFloating (3-month Euribor) to
fixed (2.8025%)1.119.147 15.03.2013
Interest rate swapInterest rate
hedgeFloating (3-month Euribor) to
fixed (2.57%)255.000 15.03.2016
CLASSIFICATION TYPEAMOUNT ARRANGED
(THOUSANDS OF EUROSMATURITY
FAIR VALUE RECOGNISED UNDER “NON-CURRENT LIABILITIES” AT 31/12/09(THOUSANDS OF EUROS)
FAIR VALUE RECOGNISED UNDER “NON-CURRENT
ASSETS” AT 31/12/09(THOUSANDS OF EUROS)
FAIR VALUE RECOGNISED UNDER“EQUITY”
AT 31/12/09(THOUSANDS OF EUROS)
Interest rate swap Interest rate hedgeFixed (4.83%) to floating interest rate
swap2.000 01.10.2012 143 - -
Interest rate swap Interest rate hedgeFloating (3-month Euribor) to fixed
(2.8025%)1.194.391 15.03.2012 -
411 288Interest rate swap Interest rate hedge
Floating (3-month Euribor) to fixed (2.8025%)
1.119.147 15.03.2013 -
2009
Legal InformationAnnual consolidated profit
Annual report 2010 144
11. INVENTORIES
The breakdown of “Inventories” is as follows:
THOUSAND OF EUROS
2010 2009
Spare parts 6.901 6.040
Inventory write-downs (134) (134)
6.767 5.906
12.EQUITYANDSHAREHOLDERS’EQUITY
A) EQUITY AND ASSIGNED ASSETS
When the Parent was formed, and in order to provide airport and air traffic control services, it
was assigned facilities and properties, mainly by the Ministry of Transport, Tourism and Com-
munications (currently the Ministry for Development), the Ministry of Defence and the former
Spanish Public Airports and Aviation Agency (OAAN). Therefore, the assigned assets account
relates to assets that did not give rise to any cost for the Company.
The assets assigned to the Parent at the time of its formation, based on the appraisal of inde-
pendent professional experts, amounted to EUR 2,831.6 million.
The equity account includes, in addition to other subsequent changes amounting to EUR 18.7
million, EUR 248.7 million representing the valuation difference between the rights and obliga-
tions to which the Parent was subrogated at the time of its formation.
B) BYLAW RESERVES
These reserves were recognised in accordance with the Parent’s bylaws, and their objective is to
finance future investments in airport and air traffic control infrastructures.
C) REVALUATION RESERVE ROYAL DECREE-LAW 7/1996 Of 7 JUNE 1996
Pursuant to Royal Decree-Law 7/1996, of 7 June, on urgent tax measures and measures to
develop and deregulate economic activities, in 1996 the Company revalued its property,
plant and equipment. The initial net revaluation surplus amounted to EUR 300.9 million (see
Note 6).
D) RESERVES AT CONSOLIDATED COMPANIES AND AT COMPANIES ACCOUNTED fOR USING THE EQUITY METHOD
The detail, by company, at 31 December 2010 and 2009, of the “Reserves at Fully Consolida-
ted Companies” and “Reserves at Companies Accounted For Using the Equity Method” is as
follows:
Legal InformationAnnual consolidated profit
Annual report 2010 145
COMPANYTHOUSANDS OF EUROS
2010 2009
Consolidated companies:
CRIDA 406 (60)
INECO - 7.716
CLASA 15.921 15.466
Aena Desarrollo Internacional (19.264) (23.565)
(2.937) (443)
Companies accounted for using the equity method:
INECO 13.568 -
SACSA 606 545
AMP 10.171 4.362
ACSA 6 6
AEROCALI 561 561
TIFSA - 6.366
RAESA 1.509 1.509
26.421 13.349
23.484 12.906
E) PROfIT/LOSS ATTRIBUTABLE TO THE COMPANY
The contribution of each company included in the scope of consolidation to consolidated
profit or loss, indicating the portion relating to minority interests, was as follows:
2010THOUSANDS OF EUROS
CONSOLIDATED PROFIT/(LOSS)
LOSS ATTRIBUTABLE TO MINORITY
SHAREHOLDERS
LOSS ATTRIBUTABLE TO THE PARENT
AENA (169.145) - (169.145)
Aena Desarrollo Internacional, S.A. 1.256 - 1.256
CRIDA 204 (52) 152
CLASA 4.748 - 4.748
(162.937) (52) (162.989)
Share of results of companies accounted for using the equity method:
RAESA 1.306 - 1.306
AMP 5.966 - 5.966
SACSA 1.516 - 1.516
ACSA 1.817 - 1.817
AEROCALI 987 - 987
INECO 6.305 - 6.505
17.897 - 17.897
Total (145.040) (52) (145.092)
Legal InformationAnnual consolidated profit
Annual report 2010 146
2009THOUSANDS OF EUROS
CONSOLIDATED PROFIT/(LOSS)
LOSS ATTRIBUTABLE TO MINORITY
SHAREHOLDERS
LOSS ATTRIBUTABLE TO THE PARENT
AENA (364.417) - (364.417)
INECO 354 (138) 216
Aena Desarrollo Internacional, S.A. 714 - 714
CRIDA 489 (113) 376
CLASA 4.521 - 4.521
(358.339) (251) (358.590)
Share of results of companies accounted for using the equity method:
RAESA 1.059 - 1.059
AMP 5.947 - 5.947
SACSA 1.111 - 1.111
ACSA 1.044 - 1.044
AEROCALI 899 - 899
TIFSA 4.371 (1.701) 2.670
14.431 (1.701) 12.730
Total (343.908) (1.952) (345.860)
f) TRANSLATION DIffERENCES
Translation differences relate in full to equity-accounted investees of Aena Desarrollo Internacional,
The breakdown, by company, is as follows:
THOUSANDS OF EUROS
2010 2009
AMP 199 (7.721)
AEROCALI 173 56
SACSA 215 85
ACSA 94 75
Total 681 (7.505)
G) GRANTS, DONATIONS OR GIfTS AND LEGACIES RECEIVED
The breakdown at 31 December 2010 and 2009 is as follows:
THOUSANDS OF EUROS
2010 2009
Asset-related grants from official European Agencies 446.916 419.494
Other 2.354 3544
449.270 422.038
Legal InformationAnnual consolidated profit
Annual report 2010 147
Asset-related grants from official European AgenciesThe changes, net of taxes, in this heading in 2010 and 2009 were as follows:
THOUSANDS OF EUROS
2010 2009
Beginning balance 419.494 415.238
Additions to ERDF Grants 49.977 22.771
Additions to other grants 194 -
Allocation to income (22.749) (18.515)
Ending balance 446.916 419.494
These grants are allocated to income in proportion to the period depreciation taken on the assets to
which they relate.
ERDF grantsThe detail of the advances received in 2010 and 2009 for operating programmes is as follows (in
thousands of euros):
RECEIVED (THOUSANDS OF EUROS)
2010 2009
Prog Oper. C. Andalucía 888 3.260
Prog Oper. C. Extremadura 4.366 428
Prog Oper. C. Galicia 8.377 5.090
Prog Oper. C. Canarias 25.305 24.065
Prog. Oper. C. Castilla-León 10.099 289
Prog. Oper. C. Murcia 10.719 385
Prog. Oper. C. Valencia 9.265 264
Total ERDF fund additions 69.019 33.781
At 2010 and 2009 year-end, the Parent had fulfilled all the conditions established for recei-
ving and using the grants detailed above.
H) MINORITY INTERESTS
The changes in “Minority Interests” of each subsidiary were as follows:
2010
THOUSANDS OF EUROS
COMPANYBALANCE AT
31/12/09OWNERSHIP
INTEREST LOSS OF CONTROL
(NOTE 2.H)BALANCE AT 31/12/10
INECO 13.220 - (13.220) -
CRIDA 276 52 31 359
13.496 52 (13.189) 359
2009
THOUSANDS OF EUROS
CompanyBalance at 01/01/09
Ownership Interest
SHARE OF PROFIT
OTHERS DIVIDENDSBALANCE
AT 31/12/09
INECO 18.009 - 1.839 29 (6.657) 13.220
CRIDA 117 46 113 - - 276
18.126 46 1.952 29 (6.657) 13.496
Legal InformationAnnual consolidated profit
Annual report 2010 148
13. PROVISIONS AND CONTINGENCIES
13.1 LONG-TERM PROVISIONS
The changes in the long-term provision accounts in 2010 and 2009 were as follows:
THOUSANDS OF EUROS
SOCIEDADPROVISIONS FOR
LONG-TERM EMPLOYEE BENEFIT OBLIGATIONS
OTHER PROVISIONSPROVISIONS FOR ENVIRONMENTAL
COSTSTOTAL
2010 beginning balance
410.957 19.511 97.433 527.901
Additions 36.055 41.678 49.013 126.746
Reversals/Excessive provisions
(42.300) (2.542) - (44.842)
Others (Loss of Con-trol)
- (600) - (600)
Amounts used (835) (1.505) - (2.340)
Transfer to short term
13.401 (302) 15.355 28.454
2010 ending ba-lance
417.278 56.240 161.801 635.319
The Group classifies as current liabilities the items recognised under “Provisions for Contingencies
and Charges” in the accompanying balance sheet at 31 December 2009 when it is foreseeable that
they may be claimable in the following period. Therefore, transfers to short term of the provisions for
long-term employee benefit obligations are included under “Trade and Other Payables - Remunera-
tion Payable” in the accompanying consolidated balance sheet at 31 December 2010. Additionally,
transfers from the provisions for third-party liability are recognised under “Short-Term Provisions” in
the accompanying consolidated balance sheet at 31 December 2010 (see Note 13.2).
A) PROVISIONS fOR LONG-TERM EMPLOYEE BENEfIT OBLIGATIONS
The changes in 2010 of the items in these heading were as follows:
Thousands of Euros
BONUSESPARTICIPATION
BONUSESSPECIAL PAID LEAVE
SOCIAL WELFARE FUND
TOTAL
2010 beginning balance 9.629 14.931 383.366 3.031 410.957
Additions 929 - 35.126 - 36.055
Reversals (87) - (42.213) - (42.300)
Amounts Used (835) - - - (835)
Transfer to short term - 40.910 (24.478) (3.031) 13.401
2010 ending balance 9.636 55.841 351.801 - 417.278
Bonuses“Bonuses” relates mainly to the provision recognised for long-service bonuses amounting to EUR
929 thousand in 2010 and of which EUR 390 thousand relate to the related finance cost.
Participation bonuses In 2010 the amounts accrued in prior years in relation to remuneration earned from agreements
between Aena and the Air Traffic Controllers’ Labour Union prior to the entry into force of Royal
Decree-Law 1/2010, of 5 February, were transferred in full to “Participation Bonuses” as it is consi-
dered that they will not be paid in the coming twelve months.
Special paid leaveCertain air traffic controllers have availed themselves of special paid leave pursuant to previous co-
llective labour agreements and, since they fulfil certain requirements, these workers are entitled to
receive their basic remuneration update annually, until they reach the age of retirement.
Legal InformationAnnual consolidated profit
Annual report 2010 149
As a result of the publication of the arbitral award on 27 February 2011 and the approval of
a new collective agreement, the status of special paid leave has been replaced by that of the
active reserve. The requirements for workers to avail themselves thereof are more restrictive
and the remuneration received is reduced to 75% of the ordinary fixed salary received in the
last twelve months with certain limits.
Based on the actuarial studies available, at 31 December 2010, the accrued liability to the
employees availing themselves of special paid leave amounted to EUR 176,267 thousand.
The Parent estimated the percentage of current workers that will avail themselves of this special
reserve status and, on this basis and on the basis of the actuarial study calculated, the accrued
actuarial liability in this connection at 31 December 2010 amounted to EUR 206,034 thousand.
At 31 December 2010, a long-term provision of EUR 351,801 thousand and a short-term
provision of EUR 30,500 thousand had been recognised in this connection (see Note 13.2).
Other employee benefit obligationsUnder Article 150 of the Company’s Third Collective Labour Agreement, when employees re-
tire or are granted permanent sick leave, they will receive an amount equal to three monthly
salary payments calculated on the basis of their basic pay plus their long-service bonus.
Pursuant to the legislation relating to the externalisation of pension commitments and to the
agreement between Aena management and the labour union representatives to set up a pension
plan, the defined-contribution pension plan for Aena’s employees was set up on 28 July 2003.
Under Article 149 of the Fifth Collective Labour Agreement, any employee who has to his credit at
least 360 calendar days of service recognised by Aena may become a participant of the Aena Emplo-
yees Pension Plan. The pension plan covers the contingencies of retirement, disability (referring to the
degrees of full or absolute permanent incapacity for work and comprehensive disability) and death.
In 2010 the Parent made contributions amounting to EUR 6.51 million to this Pension
Fund.
B) OTHER PROVISIONS
At 2010 year-end “Other Provisions” relates to EUR 53,933 thousand of local taxes in relation
to which the Parent is not in agreement with the settlement received from the tax authorities.
These settlements were appealed and it is uncertain, at 31 December 2010, what the defini-
tive amount will be and when it will be definitively settled.
This heading also includes EUR 2,307 thousand in 2010, relating to the estimated amount
required for probable or certain third-party liabilities or obligations arising from litigation in
progress or from outstanding indemnity payments or obligations. The Company’s directors
consider that the provision is sufficient to cover the risks of litigation in progress, third-party
liability and current commitments known at the date of preparation of these financial state-
ments and do not consider that the current claims, taken as a whole, will give rise to additio-
nal liabilities that might have a material effect on the 2010 financial statements.
C) PROVISIONS fOR ENVIRONMENTAL COSTS
“Provisions for Environmental Costs” in 2010 includes EUR 161,8 million recognised to cover
the costs foreseen to carry out the sound insulation work required to meet the environmental
legislation in force. Short-term provisions for contingencies and charges include a provision
totalling EUR 22,3 million to cover these liabilities maturing in under 12 months (see Note
13.2). The amounts recognised in this connection are capitalised as an addition to the cost of
the investment, since they are costs necessarily incurred to develop the projects.
Legal InformationAnnual consolidated profit
Annual report 2010 150
13.2 SHORT-TERM PROVISIONS
The changes in 2010 were as follows:
THOUSANDS OF EUROS
INITIAL BALANCE
ADDITIONSAMOUNTS
USEDEXCESSIVE
PROVISIONSTRANSFERS
FINAL BALANCE
Provision for early retirement plan and Social Action Fund
7.145 - - - (7.145) -
Special paid leave (Note 13.1) 39.000 - (32.278) - 24.478 30.500
Provision for security charge - 40.903 - - - 40.903
Other provisions 201.864 34.407 (102.659) (3.620) (15.355) 114.637
248.009 75.310 (135.637) (3.620) 1.978 186.040
A) fONDO DE ACCIÓN SOCIAL
At 31 December 2010, the balance of “Social Welfare Fund” was transferred to “Participation Bo-
nuses and Other” since it is considered that no amount will be credited in the next twelve months
(see Note 13.1).
B) PROVISIÓN PARA COMPLEMENTO DE PRODUCTIVIDAD
On 13 August 2010, the Parent reached a base agreement with the air traffic controllers in the
negotiations regarding the new collective labour agreement in which the operational contro-
llers were guaranteed a total salary package in 2010 of EUR 480 million. It was also stipulated
that if at year-end this limit had not been reached, the difference would be used to recognise a
provision for a productivity bonus, the composition and distribution of which would be agreed
upon by the parties. The aforementioned difference was EUR 40.9 million, and this amount
was recognised as the productivity bonus provision.
C) OTHER PROVISIONS
“Other Provisions” relates to the difference between the original expropriation value of the land expropriated at Madrid, Barcelona and Malaga airports and the best estimate of the just compensation established for this land foreseeably to be paid in the short term (EUR 82,3 million). It includes EUR 22.3 million recognised to cover environmental contingencies (mainly sound proofing work) required to comply with current legislation (see Note 13.1).
13.3 CONTINGENCIES
As a result of the actions that will have to be carried out to comply with the EISs (Environmen-tal Impact Statement) approved for the various airport expansion and improvement construc-tion projects, the Parent will be obliged to make certain investments required to minimise the impact of noise on the dwellings affected by such projects. At 31 December 2010, the Parent was involved in various claims proceedings which, should the outcome thereof be unfavoura-ble to Aena, could give rise to liabilities which were not possible to quantifY. In any case, the aforementioned liabilities would represent an increase in the cost of non-current assets and, therefore, under no circumstances would they have an immediate impact on the equity of the Parent.
Legal InformationAnnual consolidated profit
Annual report 2010 151
13.4 CONTINGENT ASSETS
Adjustment mechanismThis item includes the rights (or obligations) arising from variances in the estimated results
used to set the unit charges for en-route navigation aids and the actual results ultimately
obtained in the provision of en-route air navigation services. The aforementioned rights and
obligations are recovered through future changes between two to six years after they arise.
The Parent considers that this type of asset does not meet all the requirements for recognition
in the balance sheet since its recoverability depends on future events such as changes in rates
and air traffic.
At 31 December 2010 the balance in respect of this item amounted to EUR 98,582 thousand ( EUR
282,399 thousand at 31 December 2009).
Also, in accordance with Commission Regulation (CE) no. 1794/2006, of 6 December 2006,
laying down a common charging scheme for air navigation services, the non-recurring effects
resulting from the introduction of International Accounting Standards may be included as an
addition to the route charge over a period not exceeding 15 years. Consequently, the Parent
expects to be able to recover EUR 243,304 thousand (EUR 309,311 thousand in 2009) through
future charges.
14. BANK BORROWINGS AND OTHER FINANCIAL LIABILITIES
A) NON-CURRENT AND CURRENT PAYABLES
The detail of “Bank Borrowings and Other Financial Liabilities” is as follows:
THOUSAND OF EUROS
2010 2009
SOCIEDAD LONG TERM SHORT TERM LONG TERM SHORT TERM
Loans 11.750.592 334.645 10.155.044 703.724
Credits - 108.492 - 244.920
Unmatured accrued interest - 77.471 - 81.085
Obligations under finance leases 2.589 441 3.031 419
Derivatives (Note 10) 12.072 18.996 143 -
Non-current asset suppliers - 766.536 - 1.081.449
Guarantees and deposits received 2.164 17.286 2.582 14.333
Other financial liabilities 86 - 128 -
Total 11.767.503 1.323.867 10.160.928 2.125.930
Approximately 32% of the loans and credits were arranged with fixed annual interest rates
of between 2.11% and 4.88% with the remainder arranged at floating rates generally tied
to Euribor.
The Company has undertaken to comply with certain general obligations to avoid early re-
payment of the aforementioned loans and credits. At 31 December 2010 and 31 December
2009, the Company’s directors consider that all the obligations relating to these loans were
being met.
The repayment schedule for the bank borrowings at 31 December 2010 and 31 December
2009, is as follows:
Legal InformationAnnual consolidated profit
Annual report 2010 152
2010
MATURING IN THOUSANDS OF EUROS
2011 443.578
2012 664.278
2013 805.696
2014 901.577
2015 949.227
Subsequent years 8.432.403
Total 12.196.759
2009
MATURING IN THOUSANDS OF EUROS
2010 949.063
2011 301.705
2012 414.646
2013 503.564
2014 592.303
Subsequent years 8.345.857
Total 11.107.138
The detail, by bank, of the drawn down and available amounts on bank a borrowing at 2010 and
2009 year end is as follows:
2010
BankTHOUSANDS OF EUROS
DRAWN DOWN AVAILABLE TOTAL
La Caixa 3.524 102.809 106.333
Banesto 1.249 2.751 4.000
Banco Europeo de Inversiones 5.153.395 100.000 5.253.395
Instituto de Crédito Oficial 2.721.223 - 2.721.223
Depfa Bank 2.750.000 - 2.750.000
SCH 8.285 - 8.285
Bankinter 117.727 82.273 200.000
Unicaja 88.323 11.677 100.000
KFW IPEX-Bank 200.000 - 200.000
Banco Sabadell 150.000 - 150.000
Dexia Sabadell 150.000 - 150.000
BBVA 853.033 150.000 1.003.033
Total 12.196.759 449.510 12.646.269
Legal InformationAnnual consolidated profit
Annual report 2010 153
2009
BANKTHOUSANDS OF EUROS
DRAWN DOWN AVAILABLE TOTAL
La Caixa 96.630 10.036 106.666
Banesto 1.990 2.010 4.000
Caja Madrid 2.000 4.360 6.360
Banco Europeo de Inversiones 5.187.790 - 5.187.790
Instituto de Crédito Oficial 2.791.621 - 2.791.621
Depfa Bank 2.866.667 - 2.866.667
SCH 10.023 2.300 12.323
Bankinter 50.188 149.812 200.000
Unicaja 96.778 3.222 100.000
KFW IPEX-Bank - 200.000 200.000
Banco Sabadell - 150.000 150.000
Dexia Sabadell - 150.000 150.000
BBVA 3.451 1.002.000 1.005.451
Total 11.107.138 1.673.740 12.780.878
Accrued unpaid interest at 31 December 2010 and 2009 amounted to EUR 77,471 thousand and
EUR 81,085 thousand, respectively.
The following non-current, non-trade payables relating to AENA Desarrollo Internacional are deno-
minated or instrumented in foreign currency:
DENOMINATEDINUSDOLLARSEQUIVALENTVALUEINTHOUSANDS OF EUROS
2010 2009
Maturing at long-term 3.680 4.713
Maturing at short-term 1.227 1.179
Total bank borrowings 4.907 5.892
B) DISCLOSURES ON THE PAYMENT PERIODS TO SUPPLIERS
AAt 31 December 2010, EUR 36,104 thousand of the balance payable to suppliers were past due by
more than the maximum payment period (85 days).
This balance relates to suppliers that because of their nature are trade creditors for the supply of
goods and services and, therefore, it includes the figures relating to “Trade and Other Payables” and
“Current Payables to Group Companies and Associates” under “Current Liabilities” in the consoli-
dated balance sheet.
Legal InformationAnnual consolidated profit
Annual report 2010 154
15. TAX MATTERS
15.1. CURRENT TAx RECEIVABLES AND PAYABLES
The detail of the tax receivables and tax payables at 31 December 2010 and 2009 is as follows:
Tax receivables
THOUSANDS OF EUROS
2010 2009
Deferred tax assets 255.320 251.634
Tax loss carryforwards 342.147 269.750
“Deferred tax assets” Total (Note 15.4) 597.467 521.384
Current tax assets 24.684 23.677
“Current tax assets” Total 24.684 23.677
VAT refundable 60.875 44.803
Tax receivable relating to grants received 50.467 48.269
“Other accounts receivable from public authorities” Total 111.342 93.072
The current tax asset arose basically from the supplementary income tax return for 2003 filed by the
Parent in 2008 and the supplementary tax returns for 2004 and 2005 filed by the Parent in 2009. A
series of audits of all the taxes for 2005 and 2006 and income tax for 2002, 2003 and 2004 were
completed in 2010. As a result these tax assessments, which were signed on an uncontested basis,
the Parent recognised an increase in current tax assets of EUR 1,028 thousand.
Under “VAT Refundable” the Parent recognised a credit of EUR 8,108 thousand arising from the
audit of VAT for 2005 and 2006.
The balance receivable in relation to grants received arises from the non-refundable grants awarded
by the European Regional Development Fund (ERDF) to the Company, which had not been received
at the end of 2010.
Tax payables
THOUSANDS OF EUROS
2010 2009
Deferred tax liabilities (Note 15.6) 220.154 208.732
“Deferred tax liabilities” Total 220.154 208.732
Current tax liabilities 1.466 1.758
“Current tax liabilities” Total 1.466 1.758
Other tax payables 3.608 1.806
Security charge payable - 655
Personal income tax withholdings 23.709 33.755
VAT payable 91 2.536
Accrued social security taxes payable 14.916 16.149
“Other accounts payable to public authorities” Total 42.324 54.901
Legal InformationAnnual consolidated profit
Annual report 2010 155
15.2 RECONCILIATION Of THE ACCOUNTING LOSS TO THE TAx LOSS
The reconciliation of the accounting loss to the tax loss for income tax purposes is as follows:
2010THOUSANDS OF EUROS
INCREASE DECREASE NET
Loss before tax (199.504)
Permanent differences:
Arising in the year 8.674 - 8.674
Arising in prior years - (10.533) (10.533)
Arising from consolidation adjustments - (401) (401)
Temporary differences:
Arising in the year 98.390 - 98.390
Arising in prior years - (126.866) (126.866)
Arising from consolidation adjustments 159 (15.034) (14.875)
Tax loss (245.115)
2009THOUSANDS OF EUROS
INCREASE DECREASE NET
Loss before tax (492.022)
Permanent differences:
Arising in the year 10.637 - 10.637
Arising in prior years - (25.556) (25.556)
Arising from consolidation adjustments 12.901 - 12.901
Temporary differences:
Arising in the year 99.451 - 99.451
Arising in prior years - (84.546) (84.546)
Arising from consolidation adjustments 55.891 (12.932) 42.959
Tax loss (436.176)
The main permanent differences are due to charges and reversals of provisions for employee be-
nefit obligations.
The main temporary differences arose as a result of the difference between the tax and accounting
methods of recognising depreciation and amortisation, the provision to the allowance for bad debts
and payments for retirement plans and insurance.
15.3 RECONCILIATION Of ACCOUNTING LOSS TO THE INCOME TAx ExPENSE
The reconciliation of the accounting loss to the income tax expense is as follows:
THOUSANDS OF EUROS
2010 2009
Accounting loss before tax (199.504) (492.022)
Permanent differences (2.260) (2.019)
Tax loss (201.764) (494.041)
Tax charge at 30% (60.529) (148.212)
Tax credits and tax relief - (20)
Tax credits and tax relief 6.065 118
Total income tax expense recognised in profit or loss (54.464) (148.114)
15.4 DEfERRED TAx ASSETS RECOGNISED
As Parent of the consolidated tax group, the Parent settles the income tax expense for the
other companies of the tax group, which together reported a non-current tax asset to the tax
Legal InformationAnnual consolidated profit
Annual report 2010 156
authorities, amounting to EUR 342.147 thousand at 31 December 2010 (EUR 269,750 thou-
sand in 2009).
A) TAx LOSS CARRYfORWARDS
The tax loss carryforwards at 31 December 2010 and 31 December 2009, and the related amounts
and the last years for offset are as follows:
2010
YEAR INCURRED THOUSANDS OF EUROS LAST YEAR FOR OFFSET
2006 83.970 2021
2007 28.426 2022
2008 282.472 2023
2009 519.968 2024
2010 241.302 2025
1.156.138
2009
YEAR INCURRED THOUSANDS OF EUROS LAST YEAR FOR OFFSET
2006 93.443 2021
2007 28.426 2022
2008 282.472 2023
2009 501.441 2024
1.156.138
B) TEMPORARY DIffERENCES CAPITALISED
The detail of the temporary differences that gave rise to the deferred tax assets recognised in the
consolidated balance sheet is as follows:
THOUSANDS OF EUROS
2010 2009
Depreciation and amortisation of assets 82.999 48.762
Write-down of trade receivables 12.516 10.773
Non-current remuneration payable 491 471
Provisions for employee benefit obligations 103.532 115.552
Provision for contingencies and charges 1.096 1.276
Taxes 15.201 15.219
Corrective mechanism 29.142 41.971
Hedging Instruments 9.229 -
Other 1.114 17.610
Total 255.320 251.634
The deferred tax assets indicated above were recognised in the consolidated balance sheet because
the directors of the Parent and of the subsidiaries considered that, based on their best estimate of
the Parent and the subsidiaries’ future earnings, including certain tax planning measures, it is proba-
ble that these assets will be recovered.
Legal InformationAnnual consolidated profit
Annual report 2010 157
15.5 DEfERRED TAx ASSETS NOT RECOGNISED
The Parent’s tax credit carryforwards earned in prior years are as follows:
2010
THOUSANDS OF EUROS
YEARDOUBLE
TAXATION TAX CREDITS
TAX CREDITS FOR RESEARCH
AND DEVELOPMENT
TAX CREDITS FOR ENVIRONMENTAL
INVESTMENTS
TAX CREDITS FOR INVESTMENTS
IN THE CANARY ISLANDS
TAX CREDITS FOR
DONATIONS
OTHER TAX CREDITS
2004 - - - 5.687 - -
2005 - - - 18.416 - -
2006 2.005 6.630 730 27.799 914 949
2007 2.459 3.249 771 33.146 834 917
2008 3.630 2.518 - 23.089 944 940
Total 8.094 12.397 1.501 108.137 2.692 2.806
2009
THOUSANDS OF EUROS
YEARDOUBLE
TAXATION TAX CREDITS
TAX CREDITS FOR RESEARCH
AND DEVELOPMENT
TAX CREDITS FOR ENVIRONMENTAL
INVESTMENTS
TAX CREDITS FOR INVESTMENTS
IN THE CANARY ISLANDS
TAX CREDITS FOR
DONATIONS
OTHER TAX CREDITS
2004 - - - 11.669 - -
2005 - 3.983 - 18.581 - -
2006 2.005 6.630 730 27.923 914 949
2007 2.459 3.249 771 33.146 834 917
2008 3.630 2.518 - 23.089 944 940
Total 8.094 16.380 1.501 114.408 2.692 2.806
At 31 December 2010 and 2009, the Parent had not recognised these tax credits in the consoli-
dated balance sheet since there was no certainty that they could be used against future income
tax returns within the period envisaged in current legislation.
The following tax loss carryforwards from years prior to its joining the consolidated tax group
and the following tax credit carryforwards were not recognised by the subsidiary AENA Desarro-
llo Internacional, S.A.:
THOUSANDS OF EUROS
YEARTAX
LOSSESDOUBLE TAXATION
TAX CREDITS
TAX CREDITS FOR EXPORTACTIVITIES
TAX CREDITSFOR TRAINING
ACTIVITIES
TAX CREDITS FOR PENSION PLANS
1997 253 - - - -
1998 576 - - - -
1999 1.590 - - - -
2000 - - 185 - -
2001 573 - 32 7 -
2002 766 29 187 - -
2003 - 236 - 1 -
2004 - 232 - - -
2005 - - - - -
2006 - 320 2.524 2 -
2007 3.449 536 - 1 -
2008 14.866 308 - - -
2009 - 267 - 1 1
2010 - 312 - 1 -
22.073 2.240 2.928 13 1
Legal InformationAnnual consolidated profit
Annual report 2010 158
15.6 DEfERRED TAx LIABILITIES
The detail of the timing differences that gave rise to the deferred tax liabilities recognised in the
consolidated balance sheet is as follows:
THOUSANDS OF EUROS
2010 2009
Provisions for non-current assets 16.536 16.536
Provisions for employee benefit obligations 6.340 6.340
Provisions for third-party liabilities 3.455 3.455
Deferred income 598 598
Financial hedging instruments 546 523
Taxes 54 54
Grants 191.909 180.320
Other 716 906
Total 220.154 208.732
15.7 YEARS OPEN fOR REVIEW AND TAx AUDITS
Under current legislation, taxes cannot be deemed to have been definitively settled until the
tax returns filed have been reviewed by the tax authorities or until the four-year statute-of-
limitations period has expired. In this regard, on 11 February 2009 the Department of Tax and
Customs Control notified the Parent of the commencement of an audit for all taxes for 2005
and 2006 and, in addition, for income tax for 2002, 2003 and 2004. These tax audits were
completed in 2010 and the collections and payments arising from the assessments, all of which
were signed on an uncontested basis, took place in January and February 2011.
At the end of 2010, the Parent had 2007 and subsequent years open for review for all other
taxes applicable to it. The Company’s directors consider that the tax returns for the aforemen-
tioned taxes have been filed correctly and, therefore, even in the event of discrepancies in the
interpretation of current tax legislation in relation to the tax treatment afforded to certain tran-
sactions, such liabilities as might arise would not have a material effect on the accompanying
financial statements.
On 16 February 2009 the tax authorities commenced their audit of income tax for 2005 and
2006 of the subsidiary Aena Desarrollo Internacional, S.A.. On 14 December and 23 November
2010 the tax authorities’ findings on these periods were received and all the assessments were
signed on an uncontested basis.
At 2010 year-end the subsidiary Aena Desarrollo Internacional, S.A. had 2007 and subsequent
years open for review for income tax and 2007, 2008, 2009 and 2010 for the other taxes appli-
cable to it. The Company’s directors consider that the tax returns for the aforementioned taxes
have been filed correctly and, therefore, even in the event of discrepancies in the interpretation
of current tax legislation in relation to the tax treatment afforded to certain transactions, such
liabilities as might arise would not have a material effect on the accompanying consolidated
financial statements.
At 2010 year-end the subsidiary CLASA had 2007 and subsequent years open for review for
income tax and the other taxes applicable to it. The Company’s directors consider that the tax
returns for the aforementioned taxes have been filed correctly and, therefore, even in the event
of discrepancies in the interpretation of current tax legislation in relation to the tax treatment
afforded to certain transactions, such liabilities as might arise would not have a material effect
on the accompanying consolidated financial statements.
Legal InformationAnnual consolidated profit
Annual report 2010 159
16. INCOME AND EXPENSES
A) BREAKDOWN Of REVENUE
The revenue relating to the Group’s ordinary activities is obtained in Spain, except for that relating to
the activities of Desarrollo Internacional (see note 20), the breakdown being as follows:
The equivalent value of sales in foreign currency, made in US dollars and Colombian peso, was EUR
4,119 thousand.
THOUSANDS OF EUROS
Airport revenue:2010 2009
Air traffic revenue:
Landing 371.527 366.905
Parking 7.593 8.224
Use of infrastructures 500.604 484.529
Passenger boarding bridges 127.219 117.653
Cargo handling 15.346 12.947
Security charge 130.671 127.006
Other 392 414
Subtotal of air traffic revenue 1.153.352 1.117.678
Non-airtrafficrevenue:
In-flight catering services 9.948 9.775
Premises, land and desk rent 24.294 25.100
Check-in desks 23.725 23.982
Services provided to concession holders 24.808 22.091
Restricted area access clearance 547 788
Use of lounges and unspecified areas 11.028 12.734
Ramp handling 71.261 71.375
Other 4.002 3.659
Subtotal of non-air traffic revenue 169.613 169.504
Commercialrevenue:
Fuel 26.041 24.349
Premises and land rent 45.683 44.198
Commercial operations 202.684 193.063
Bars and restaurants 75.038 67.939
Car rental 96.621 96.647
Vehicle parking 104.548 105.607
Advertising 27.783 24.509
Services provided to concession holders 16.184 15.837
Other 1.228 387
Subtotal of commercial revenue 595.810 572.536
Airtrafficcontrol:
En-route navigation aids 832.590 809.708
Approach navigation aids 192.572 191.029
Publications and other services 7.152 7.298
Subtotal of air traffic control 1.032.314 1.008.035
Otherlinesofbusiness:
Airport logistics 24.170 24.324
International development 9.143 8.485
Consulting - 185.383
I+D+i 1.567 504
34.880 218.696
Consolidation adjustments (13.568) (95.060)
Total revenue 2.972.401 2.991.389
THOUSANDS OF EUROS
2010 2009
Legal InformationAnnual consolidated profit
Annual report 2010 160
B) PROCUREMENTS
The breakdown of “Procurements” in 2010 and 2009 is as follows:
THOUSANDS OF EUROS
2010 2009
Other procurements 1.233 266
Changes in inventories of other procurements (861) (64)
Work performed by other companies 61.510 113.926
Impairment losses on other procurements - 6
Total 61.882 114.134
The work performed by other companies includes, inter alia, the services provided by the Ministry of Defence, the Directorate-General of Civil Aviation and the National Meteorological Institute.
C) EMPLOYEE BENEfIT COSTS
The breakdown of “Employee Benefit Costs” is as follows:
THOUSANDS OF EUROS
2010 2009
Employer social security costs 132.221 148.641
Contributions to employee benefit obligations 6.579 6.178
Other employee benefit costs 44.959 47.545
Total 183.759 202.364
D) OUTSIDE SERVICES
The breakdown of “Outside Services” is as follows:
THOUSANDS OF EUROS
2010 2009
R&D expenditure 9 40
Rent and royalties 13.402 18.549
Repairs and upkeep 338.398 327.980
Independent professional services 57.904 38.036
Insurance Premiums 18.119 17.749
Transport 443 326
Banking services 1.746 2.194
Advertising and public relations 13.761 18.296
Utilities 103.315 114.690
Surveillance and security services 129.951 132.707
Other services 236.405 245.979
Total 913.453 916.546
Legal InformationAnnual consolidated profit
Annual report 2010 161
E) fINANCIAL LOSS
The financial loss was as follows:
THOUSANDS OF EUROS
2010 2009
Income:
Income from equity investments - 1.227
Other interest and similar income 4.310 864
Total financial profit 4.310 2.091
Costs:
Interest on loans (257.319) (289.149)
Other finance costs (74) -
Interest cost relating to provisions (36.589) (69.171)
Capitalisation of finance costs (Notes 5 and 6) 40.924 73.653
Total financial loss (253.058) (284.667)
Change in fair value of financial instruments 38 (34)
Exchangelosses:
Diferencias positivas de cambio 1.748 -
Diferencias negativas de cambio (1.509) (688)
239 (688)
Impairment on financial instruments (6) -
Net financial loss (248.477) (283.298)
“Interest Cost Relating to Provisions” includes mainly the financial adjustments made by the Parent as
a result of the interest cost on provisions. Specifically, EUR 14,892 thousand (EUR 45,975 thousand in
2009) were recognised for late-payment interest on compulsory purchases, the associated provision for
which is discussed in Note 13.1. This heading also includes EUR 20.318 thousand (EUR 21,399 thou-
sand in 2009) corresponding to the interest cost relating to provisions for the remuneration of emplo-
yees (see Note 13.1) and EUR 1.337 thousand (EUR1.759 in 2009) in connection with the unwinding
of the provision for soundproofing (see Note 13.1).
f) ExCESS PROVISSIONS
The most significant amount included under “Excessive Provisions”, of EUR 42,213 thousand, relates
to the impact of the updating of the actuarial assumptions arising from the provision for special paid
leave (see Note 13.1).
G) OTHER DISCLOSURES
The number of employees at 31 December 2010 and 31 December 2009, were as follows:
PROFESIONAL CATEGORY
NUMBER OF EMPLOYEES AT 31.12.2010 (*) NUMBER OF EMPLOYEES AT 31.12.2009 (*)
Men Women TOTAL MEN WOMEN TOTAL
Senior executives 14 4 18 15 4 19
Executives and university graduates
1.298 787 2.085 1.268 717 1.985
Coordinators 1.278 399 1.677 1.622 509 2.131
Line personnel 4.268 2.039 6.307 4.884 2.447 7.331
Support staff 455 392 847 709 677 1.386
Controllers 1.681 738 2.419 1.671 733 2.404
Total 8.994 4.359 13.353 10.169 5.087 15.256
(*) The number of temporary employees at 31 December 2010 and 2009 were 1,536 and 1,650 respectively.
Legal InformationAnnual consolidated profit
Annual report 2010 162
The average headcount in 2010 and 2009, by professional category, was as follows:
PROFESSIONAL CATEGORYNUMBER (*)
2010 2009
Senior executives 17 18
Executives and university graduates 2.007 1.925
Coordinators 1.659 2.066
Line personnel 6.345 7.148
Support staff 856 1.374
Controllers 2.401 2.361
Total 13.285 14.892
(*) The average number of temporary employees in 2010 and 2009 were 1,597 and 1,608.
The Group’s Board of Directors has 26 members, 27 men and 6 women.
The average number of employees with disabilities greater than or equal to 33% within the AENA
group during the financial year 2010, by category is as follows:
PROFESSIONAL CATEGORYNUMBER
2010
Executives and university graduates 11
Coordinators 2
Line personnel 107
Support staff 2
Controllers 7
Total 129
Remuneration of directors and senior executivesThe breakdown of the remuneration received by the members of the Board of Directors and senior
executives of the Group is as follows (in thousands of euros):
2010
SALARIESATTENDANCE
FEESOTHER ITEMS
PENSION PLANS
INSURANCE PREMIUMS
TOTAL
Senior executives(*) 1.835 41 4 15 21 1.916
Board of Directors - 214 - - - 214
(*) Including the wages of the Chairman of the Board of Directors, who is also a senior executive of the subsidiaries.
No advances or loans were granted to the current or former members of the Board of Directors and
there are no pension obligations to them.
2009
SalariesAttendance
FeesOTHER ITEMS
PENSION PLANS
INSURANCE PREMIUMS
TOTAL
Senior executives(*) 2.772 81 253 15 2 3.123
Board of Directors 154 330 1 - - 485
(*) Including the wages of the Chairman of the Board of Directors, who is also a senior executive of the subsidiaries.
Fees paid to auditorsThe fees for the audit of the Parent’s financial statements are borne by the Ministry of Eco-
nomy and Finance (Spanish State Auditing Agency).
Additionally, the fees billed in connection with the audit of the financial statements of cer-
tain subsidiaries amounted to EUR 50 thousand (EUR 123 thousand in 2009).
Legal InformationAnnual consolidated profit
Annual report 2010 163
17. GUARANTEES AND OTHER SURETIES GRANTED
The Parent has provided guarantees amounting to EUR 352 thousand (EUR 535 thousand in
2009). The Parent’s directors do not expect these guarantees to give rise to any material liabi-
lities.
Also, the Parent is the joint and several guarantors of all the loans and credits that the subsidiary AENA
Desarrollo Internacional, S.A. had arranged with banks. The detail of these loans and credit facilities in
2010 and 2009 is as follows:
BANKTHOUSANDS OF EUROS
Currency2010 2009
BSCH 3.684 4.272 US Dollar
BSCH 4.601 5.751 Euro
ICO 1.223 1.621 US Dollar
LA CAIXA 3.524 5.402 Euro
CAJA MADRID - 2.000 Euro
BBVA 3.031 3.450 Euro
BANESTO 1.249 1.988 Euro
Lastly, the company Clasa received guarantees from customers totalling EUR 13,495 thousand (EUR
1.157 thousand in 2009).
18. ENVIRONMENTAL OBLIGATIONS
The Company’s management, in line with its commitment to preserve the environment and
the quality of life in the areas in which it is present, has been making investments in this
connection to minimise the environmental impact of its business activities and to protect and
improve the environment.
At 31 December 2010, property, plant and equipment included investments of an environmental
nature amounting to EUR 514.1 million (EUR 439.5 million in 2009), the accumulated depreciation
of which amounted to EUR 119.5 million (EUR 100.9 million in 2009).
The environmental investments made in 2010 and 2009 amounted to EUR 155.5 million and EUR
81.4 million respectively, the breakdown being as follows:
THOUSANDS OF EUROS
2010 2009
Palma de Mallorca 1.386 575
Barcelona 2.059 751
Madrid/Barajas 20.013 2.578
Tenerife Norte 17.941 525
Alicante 17.804 29.560
Bilbao 13.070 20.814
Málaga 4.585 517
A Coruña 64.135 -
Valencia - 696
Gran Canaria 4.454 6.843
Ibiza 3.952 6.395
Vigo 2.658 6.155
SSCC Navegación - 284
Granada-Jaén - 720
La Palma - 2.307
Resto divisiones 3.472 2.988
Total 155.529 81.424
Legal InformationAnnual consolidated profit
Annual report 2010 164
The breakdown of the environmental expenses included in the 2010 and 2009 consolidated income
statement is as follows:
THOUSAND OF EUROS
2010 2009
Repairs and upkeep 9.205 9.806
Independent professional services 1.587 1.597
Other outside services 3.998 3.771
Total 14.790 15.174
Provisions and contingencies of an environmental nature are detailed in Notes 13.1 and 13.3. The
Company’s directors do not expect any additional material liabilities or contingencies to arise in this con-
nection.
Under the Barajas Plan and pursuant to the Resolutions of the Directorate-General of Environmental
Information and Assessment dated 10 April 1996 and of the Secretariat General of the Environment,
dated 30 November 2001, AENA is carrying out the sound insulation of certain housing units near Ma-
drid-Barajas airport. At 31 December 2010, more than 12,676 homes had been insulated (12,676 at 31
December 2009).
As required under the Environmental Impact Statements relating to the projects to extend Alicante and
Málaga airports, Aena is carrying out the sound insulation plans associated with these statements. At
2010 year-end, 1,663 and 739 dwellings had been insulated in Alicante and Málaga, respectively.
Also, in 2007 applications for the sound insulation of housing units in the environs of Gran Canaria, La
Palma, Menorca, Palma de Mallorca, Tenerife North and Valencia airports started to be processed and
were still being processed at 2009 year-end.
Also, pursuant to the resolutions of the Ministry of the Environment, establishing the Environmental
Impact Statements for Aena’s airports, AENA has carried out or is carrying out the preventive, correc-
tive and compensatory measures indicated in the mandatory environmental impact study and in the
aforementioned Environmental Impact Statement, complying with certain conditions relating mainly
to: protection of the hydrological and hydro-geological system, soil protection and conservation,
protection of air quality, acoustic protection, protection of vegetation, wildlife and natural habitats,
protection of the cultural heritage, restoration of services and livestock trails, location of quarries,
spoil, landfill and ancillary facility areas.
19. EVENTS AFTER THE REPORTING PERIOD
A) NEW AIRPORT MODEL
Royal Decree-Law 13/2010 on tax, labour and liberalisation measures aimed at encouraging
investment and job creation was approved on 3 December 2010. This Royal Decree proposes
a new legal framework for the modernisation and liberalisation of the management of the 47
airports comprising the AENA network. The new regulations will transform the Spanish airport
system which, since 1990, has been managed by Entidad Pública Empresarial “Aeropuertos
Españoles y Navegación Aérea (AENA), in order to open it up to new decentralised forms of
management and collaboration from the private sector.
To this end, the Government was empowered to create, prior to 28 February 2011, a state ow-
ned enterprise called Aena Aeropuertos, S.A., whose share capital will initially be wholly owned
by AENA, although private capital may be allowed to invest provided the majority ownership of
this company is held by AENA.
On 25 February 2011, the Council of Ministers approved the formation of Aena Aeropuertos,
S.A., which will not begin to carry out its duties and obligations until so decreed by Order of the
Ministry of Public Works and until the employees and all the assets, rights, contracts, files and
obligations of Aena, to be assumed by the new company have been decided upon.
Legal InformationAnnual consolidated profit
Annual report 2010 165
Through this company, Aena will continue to perform all its current duties and obligations related to
the management and operation of airports, although the state competencies relating to air naviga-
tion will continue to be exercised by the Company itself pursuant to the framework established by
Law 9/2010, of 14 April.
The new public limited liability company (Spanish “sociedad anónima”) will be subrogated to the
employment contracts of the employees of AENA who engage in airport activities, who will continue
to be subject to the collective labour agreements in force, while respecting any vested rights. From
the equity standpoint, all the assets held by AENA until now, except for those assigned to air naviga-
tion services, will be allocated to the new company.
Aena Aeropuertos, S.A. will be subject to the Public Administration-owned Property Law, although,
with regard to hiring, compulsory purchases and general interest works, it will be treated in the same
manner as the Public Law Entity that it replaces.
B) AIR NAVIGATION
Royal Decree-Law 1/2010 regulating the provision of air travel services, establishing the obligations of
the civil providers of these services and establishing certain working conditions for the civil controllers
of air travel, was approved on 5 February 2010. This legislation approved the opening up of air naviga-
tion services to certified new providers and the immediate implementation of Aerodrome Flight Infor-
mation Services (AFIS) in airports with a low volume of traffic. In view of this measure and the expected
reduction in costs for air navigation services, a gradual reduction of route and approach charges will
be proposed to bring them into line with the average for the main providers of this service in Europe.
On 28 February 2011, following the appointment of an arbitrator to settle the conflict between
the Company and the controllers, a mandatory arbitral award was rendered to both parties which
includes the Second Collective Labour Agreement for Air Traffic Controllers, authorizing the salary
package for 2010 for this group.
20. SEGMENT REPORTING
Los precios de transferencia en las ventas inter-segmentos son los precios aplicados que como se indica
en la Nota 4-o son precios de mercado.
The Group identifies its operating segments on the basis of internal reports which form the basis for re-
gular reviews, discussions and evaluation by the Board of Directors since it is the highest decision-making
authority and has the power to allocate resources to segments and evaluate their performance.
The following segments were identified: Airports, Air Navigation and Other. The latter includes the
Parent’s Corporate Unit and the activities carried on by the subsidiaries composing the Aena Group: Inter-
national Development, Airport Logistics Centres and R&D+i within the scope of ATM.
The transfer prices applied to inter-segment sales are market prices, as indicated in Note 4-o.
Sales by geographical marketThe breakdown, by geographical market, of the Company’s revenue for 2010 and 2009 is as follows
(in thousands of euros):
GEOGRAPHICAL MARKETTHOUSANDS OF EUROS
2010 2009
Spain 2.968.094 2.976.645
Rest of the EU countries 188 3.262
Others (Note 16.a) 4.119 11.482
Total 2.972.401 2.991.389
Legal InformationAnnual consolidated profit
Annual report 2010 166
Information on main customersThe detail of sales to non-Group customers who have been invoiced for amounts greater than or
equal to 10% of revenue is as follows:
ACTIVITIESSALES (THOUSANDS OF EUROS)
2010 2009
Eurocontrol 819.336 792.834
Iberia 311.676 341.606
Total 1.131.012 1.134.440
Financial Statements by Segment (thousands of euros)
CONCEPTS
SEGMENTS
TOTALAIRPORTSERVICES
AIR-TRAFFIC CONTROL SERVICES
OTHER SEGMENTS
ADJUSTMENTS AND
ELIMINATIONS
Revenue: 1.918.775 1.032.314 34.880 (13.568) 2.972.401
Non-group customers 1.912.912 1.032.314 27.175 - 2.972.401
Inter-segment 5.863 - 7.705 (13.568) -
Procurements (532) (61.350) - - (61.882)
Staff costs (373.108) (598.555) (6.782) - (978.445)
Depreciation and amortization charge
(741.918) (128.494) (4.340) 2.233 (872.519)
Losses on, impairtment of and change in allowances for trade receivables:
(61.711) 31.696 (58) - (30.073)
Current (47.660) (8.507) (50) - (56.217)
Non-current (14.051) 40.203 (8) - 26.144
PROFIT (LOSS) FROM OPERATIONS
(169.883) 187.942 10.375 2.642 31.076
Finance income 18.221 920 172 (15.003) 4.310
Finance costs (225.090) (27.297) (1.498) 827 (253.058)
Change in far value of financial instruments, Exchange differences and Impairtment and gains or losses on disposals of financial instruments
(15) - 286 - 271
PROFIT (LOSS) BEFORE TAX
(376.767) 161.565 27.232 (11.534) (199.504)
Assets 16.596.561 1.419.202 315.159 (178.882) 18.152.040
Liabilities 13.442.411 1.029.010 185.210 (92.624) 14.564.007
Net cash flows from the followin activities:
Operating 355.114 226.263 10.637 (21.219) 570.759
Investing (1.557.679) (152.603) (19.380) (2.840) (1.732.502)
Financing 1.197.826 (73.651) 18.490 13.393 1.156.058
Non-current asset acquisitions
1.365.588 162.457 13.968 (468) 1.541.545
CONCEPTS
SEGMENTS
TOTALAIRPORTSERVICES
AIR-TRAFFIC CONTROL SERVICES
OTHER SEGMENTS
ADJUSTMENTS AND
ELIMINATIONS
21. EXPLANATION ADDED FOR TRANSLATION TO ENGLISH
These consolidated financial statements are presented on the basis of accounting principles generally
accepted in Spain. Certain accounting practices applied by the Group that conform with generally
accepted accounting principles in Spain may not conform with generally accepted accounting prin-
ciples in other countries:
Legal InformationAnnual consolidated profit
Annual report 2010 167
Ceuta Heliport
Financial Statements
Annual report 2010
PUBLIC COMPANY “AEROPUERTOS ESPAÑOLES Y NAVEGACIÓN AÉREA”
BALANCE AT 31 DECEMBER 2010 (THOUSAND EUROS)
ASSETS REPORT NOTES YEAR 2010 YEAR 2009
NON-CURRENT ASSETS
Intagible Assets Note 5 281.506 289.017
Development 86.297 86.117
Computer Aplications 171.365 122.760
Other intangible assets 23.844 80.140
Tangible Fixed Assets Note 6 16.483.624 15.894.265
Lands and buildings 11.008.649 10.124.496
Technical facilities and machinery 855.439 845.619
Other facilities, tools and furniture 2.351.265 2.114.950
Other tangible assets 134.032 93.058
Construction in progress 2.134.239 2.716.142
Investments in group and associated long-term 187.806 192.939
Equity instruments Note 8.1-a 111.878 111.884
Loans to companies Note 8.1-b 75.928 81.055
Long-term financial investments 2.245 1.438
Equity instruments Note 8.1-a 744 745
Derivates Note 9 1.219 411
Other financial assets 282 282
Deferred tax assets Note13.1 575.817 506.587
Total Non Current Assets 17.530.998 16.884.246
CURRENT ASSETS:
Stock Note 10 6.767 5.906
Trade and other receivables 517.188 455.505
For sales and services Note 8.1-c 368.746 337.685
Customers, group companies and associates Note 8.1-b 12.259 11.664
Sundry Debtors 361 542
Staff 2.343 2.054
Current tax assets Note 13.1 24.685 23.677
Legal InformationFinancial Statements
Annual report 2010 169
Other credits with government Note 13.1 108.794 79.883
Investments in group companies and associated short-term Note 8.1-b 5.357 5.035
Loans to companies 4.219 3.897
Other financial assets 1.138 1.138
Short-term financial investments Note 8.1-d 6.431 6.456
Other financial assets 6.431 6.456
Short-term accruals 9.377 8.318
Cash and other cash assets equivalents 3.800 1.266
Total Current Assets 548.920 482.486
TOTAL ASSETS 18.079.918 17.366.732
BALANCE AT 31 DECEMBER 2010 (THOUSAND EUROS)
ASSETS REPORT NOTES YEAR 2010 YEAR 2009
BALANCE AT 31 DE DICIEMBRE DE 2010 (THOUSAND EUROS)
NET AND LIABIILITIES PATRIMONY REPORT NOTES YEAR 2010 YEAR 2009
NET PATRIMONY:
OWN FUNDS Note 11 3.111.749 3.268.862
Patrimony 3.099.018 3.099.018
Reserves 724.613 724.613
Statuoty 451.196 479.917
Other reserves 273.417 244.696
Negative results from previous years (554.769) (201.870)
Year results (157.113) (352.899)
VALUE ADJUSTMENTS (20.820) 288
Hedging Note 9 (20.820) 288
GRANTS, DONATIONS AND BEQUESTS Note 11-d 450.411 423.529
Grants, donations and bequests 450.411 423.529
Total Net Patrimony 3.541.340 3.692.679
NON CURRENT LIABILITIES:
Long-term provisions Note 12.1 635.246 527.227
Long-term employee benefit obligation provisions 417.279 410.957
Environmental actions 161.801 97.433
Other provisions 56.166 18.837
Notes 1-17 described in the attached Report are integral part of the balance sheet at December 31, 2010
Legal InformationFinancial Statements
Annual report 2010 170
Long-term debts 11.753.426 10.143.396
Debts with credit entities Note 8.2-a 11.741.460 10.143.396
Derivates Note 9 11.966 -
Deferred tax liabilities Note 13.1 220.456 208.753
Total non-current liabilities 12.609.128 10.879.376
CURRENT LIABILITIES:
Short-term provisions Note 12.2 185.957 248.009
Short-term debts Note 8.2-a 1.318.171 2.115.997
Debts with credit entities 515.332 1.020.192
Derivates 18.996 -
Other financial liabilities 783.843 1.095.805
Short-term debts with group companies and associates. Note 8.1-b 15.444 23.284
Trade and other payables 409.878 407.387
Suppliers 97 32
Sundries 254.763 250.279
Staff 32.569 81.938
Current tax liabilities Note 13.1 1.466 -
Other debts with Public Administration Note 13.1 42.009 48.477
Custumer advances 78.974 26.661
Total current liabilities 1.929.450 2.794.677
TOTAL LIABILITIES 18.079.918 17.366.732
BALANCE AT 31 DE DICIEMBRE DE 2010 (THOUSAND EUROS)
NET AND LIABIILITIES PATRIMONY REPORT NOTES YEAR 2010 YEAR 2009
Notes 1-17 described in the attached Report are integral part of the balance sheet at December 31, 2010
Legal InformationFinancial Statements
Annual report 2010 171
PROFIT AND LOSS ACCOUNT YEAR 2010 (THOUSAND EUROS)
REPORT NOTES YEAR 2010 YEAR 2009
CONTINUING OPERATIONS
Revenue Note 14-b 2.951.089 2.867.753
In-house work on non-current assest Note 6 7.108 11.285
Procurement Note 14-a (61.882) (63.295)
Cost of raw materials and other consumables use (372) (202)
Work performed by other companies (61.510) (63.087)
Losses on impairment of raw materials and other consumables - (6)
Other operating income 14.883 13.384
Non-core and other current operating income 12.759 11.604
Income-related grants transferred to profit or los 2.124 1.780
Staff costs Note 14-c (971.663) (1.206.692)
Wages, salaries and similar expenses (773.788) (1.017.777)
Social security costs (182.225) (178.818)
Provisions (15.650) (10.097)
Other operating expenses (1.120.299) (1.087.528)
Outside services Note 14-d (912.953) (927.686)
Taxes (138.455) (95.180)
Loss, damage and changes in trade provisions Note 8.1-c (56.167) (40.175)
Other operating expenses (12.724) (24.487)
Depreciation and amortization Notes 5 y 6 (870.413) (793.745)
Allocation of grants and other non-financial assets 32.993 26.885
Excess provisions Note 14-f 48.375 4.862
Impairment and loss on disposal of non-current assets Notes 5 y 6 (22.223) (16.105)
Other results 10.091 (1.399)
OPERATING INCOME 18.059 (244.595)
Financial income 19.141 20.378
Investments in equity instruments Note 8.1-b 14.176 18.128
- Group companies and associates 14.176 18.128
From marketable securities and other financial instrument 4.965 2.250
- Group companies and associates Note 8.1-b 827 1.576
- Third parties 4.138 674
Financing costs (252.387) (283.737)
On debts to third parties (291.974) (288.257)
Restatement of provisions (1.337) (69.133)
Legal InformationFinancial Statements
Annual report 2010 172
Capitalisation of finance cost 40.924 73.653
Exchange differences (9) (10)
Impairment and loss on disposal of financial instruments (6) -
FINANCIAL RESULTS Note 14-e (233.261) (263.369)
PROFIT BEFORE TAXES (215.202) (507.964)
Income Taxes Note 13.4 58.089 155.065
LOSS FOR THE YEAR FROM CONTINUING OPERATION (157.113) (352.899)
YEAR LOSS (157.113) (352.899)
PROFIT AND LOSS ACCOUNT YEAR 2010 (THOUSAND EUROS)
REPORT NOTES YEAR 2010 YEAR 2009
Notes 1-17 described in the attached Report are integral part of the balance sheet at December 31, 2010
Notes 1-17 described in the attached Report are integral part of the balance sheet at December 31, 2010
STATEMENTSOFCHANGESINEQUITYFORYEAR2010A) STATEMENT OF RECOGNISED INCOME AND EXPENSE (THOUSAND OF EUROS)
REPORT NOTES YEAR 2010 YEAR 2009
A) Results of the profit and loss account (157.113) (352.899)
Income and expenses recognized directly in equity
From cash flow hedges Note 9 (30.154) 411
Grants, donations and bequests received 71.396 32.530
Actuarial gains and losses and other adjustments Note 12.1-a - (24.735)
Tax effect Note 13.3 (12.372) (2.462)
B) Total income and expense recognized directly in equity 28.869 5743
Transfers to profit and loss
Grants, donations and bequests received (32.993) (26.885)
Tax effect Note 13.3 9.897 8.065
C) Total transfers to the profit and loss account (23.095) (18.818)
TOTAL RECOGNISED INCOME AND EXPENSES (A + B + C) (151.338) (365.975)
Legal InformationFinancial Statements
Annual report 2010 173
STATEMENTSOFCHANGESINEQUITYFOR2009AND2008B)STATEMENTOFCHANGESINTOTALEQUITY(THOUSANDSOFEUROS
ASSIGNED EQUITYAND
ASSETBY LAW RESERVE OTHER RESERVES RETAINED LOSSES YEAR RESULT
VALUATION ADJUSTMENT
GRANTS, DONATIONS OR
GIFTS AND LEGACIES
RECEIVERED
TOTALEQUITY
Balance at 2009 year-end 3.099.018 496.043 262.011 (36.667) (165.203) - 384.912 3.852.418
Adjustments for 2008 citerion change - - - - - - 34.666 34.666
Adjusted balance at beginning of 2009 3.099.018 496.043 262.011 (36.667) (165.203) - 419.578 3.887.084
Total recognized income and expense - - (17.315) - (352.899) 288 3.951 (365.975)
Application result 2008 - - - (165.203) 165.203 - - -
Other changes in net equity (Note 2-g) - (16.126) - - - - - (16.126)
BALANCE AT 2009 YEAR-END 3.099.018 479.917 244.696 (201.870) (352.899) 288 423.529 3.692.679
Total recognized income and expense - - - - (157.113) (21.108) 26.882 (151.339)
Application result 2009 - - - (352.899) 352.899 - - -
Reclassification of reserves - (28.721) 28.721 - - - - -
BALANCE AT 2010 YEAR-END 3.099.018 451.196 273.417 (554.769) (157.113) (20.820) 450.411 3.541.340
Notes 1-17 described in the attached Report are integral part of the balance sheet at December 31, 2010
CASH FLOW 2010 YEAR
YEAR 2010 YEAR 2009
CASH FLOW FROM OPERATING ACTIVITIES (I) 566.021 209.072
Loss before tax (215.202) (507.964)
Adjustments for: - 1.214.686 1.185.713
- Depreciation and amortization 870.413 793.745
- Impairment losses 56.167 40.181
- Change in provisions 87.043 122.346
- Allocation of grants (32.993) (26.885)
- Results for unsubscribe or dispose of fixed assets 22.542 16.136
- Results for unsubscribe or dispose of financial instruments 6 -
- Financial income (19.141) (20.378)
- Interest expense 230.658 260.578
- Exchange differences (9) (10)
Changes in working capital - (158.277) (125.136)
Legal InformationFinancial Statements
Annual report 2010 174
- Inventories (861) (64)
- Trade and other receivables (118.857) 11.212
- Other current assets (2.166) 1.033
- Trade and other payables (28.553) (128.665)
- Other current liabilities (7.840) (8.652)
Other cash flow from operating activities - (275.186) (343.541)
- Interest payments (296.771) (367.613)
- Dividends charges 14.176 18.128
- Interest charges 4.960 2.368
- Charges (payments) from income tax 2.449 3.576
CASH FLOW FROM INVESTING ACTIVITIES (II) (1.727.148) (1.733.913)
Payments due to investments - (1.738.677) (1.771.725)
- Group companies and associates (6.400) (9.000)
- Intangible assets (74.378) (90.423)
- Tangible assets (1.657.899) (1.672.296)
- Other financial assets - (6)
Proceeds from disposal 11.529 37.812
- Group companies and associates 11.528 9.028
- Tangible assets - 1.313
- Other financial assets 1 27.471
CASH FLOW FROM FINANCING ACTIVITIES (III) 1.163.652 1.525.233
Charges and payments due to equity instruments 69.198 33.782
- Grants, donations and bequests received 69.198 33.782
Charges and payments for financial liabilities 1.094.454 1.491.451
- Issuance of debt to credit institutions 1.530.000 1.850.000
- Repayment of debts to credit institutions (433.207) (351.747)
- Repayment of other debts (2.339) (6.802)
EFFECT OF EXCHANGE RATE CHANGE (IV) 9 10
INCREASE / DECREASE IN CASH AND CASH EQUIVALENTS (I + II + III + IV) 2.534 402
Cash and cash equivalents at beginning of year 1.266 864
Cash and cash equivalents at end of year 3.800 1.266
ESTADO DE FLUJOS DE EFECTIVO DEL EJERCICIO 2010
EJERCICIO 2010 EJERCICIO 2009
Notes 1-17 described in the attached Report are integral part of the balance sheet at December 31, 2010
Legal InformationFinancial Statements
Annual report 2010 175
Direction and editing: Communications Department of Aena.Design: Inventa.Production and layout: Editorial MIC.Photos: Graphic Archive Aena.