Aena SME SA
AENA: XMAD (ESP)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| ^x | LOCK|n<? | LOCK|<p&$@f |
Aena SME: Updating Estimates to Reflect Higher Staff Costs Ahead of DORA III
Business Strategy and Outlook
Aena is the world’s largest listed airport operator. It has a natural monopoly managing Spain’s entire airport network. Established in 1991, it is majority owned by the Spanish government through Enaire (51%), with the remaining 49% publicly listed since 2015. It plays a critical role in the national economy, acting as the primary gateway for Spain’s massive tourism sector.
