Aena is investing 1.8 billion euros in the airports of the Canary Islands. Of this, 550 million is being channelled into the refurbishment of Tenerife South alone. The airport operator insists that it does not intend to increase capacity as part of this. This is not credible.
The Spanish state is the majority shareholder in Aena. Nevertheless, Spain’s airport operator is run as a commercial enterprise. This means that the management is obliged to maximise profits. With every investment, the focus is on the ‚return on investment‘ (ROI), i.e. recouping the investment made. The rule of thumb is: if money is invested, the return in the following years must be at least double the amount invested.
Over the past two years, Tenerife’s airport has become internationally notorious for its queues. Nevertheless, the airport has weathered every crisis. This means that investing millions would be nothing more than a marketing ploy to avoid making the headlines as often. One might believe the Spanish Ministry of Tourism when it says it is concerned about the reputation of the island and its airports. A commercial enterprise such as Aena, on the other hand, makes a good profit even when the headlines are negative. And the company has radiated this dubious contentment for years:
Tenerife South Airport is dilapidated
Despite major refurbishment in the 2010s, Tenerife South Airport is in a state of disrepair. The airport advertises a VIP lounge. Very important persons can at least make the wait feel shorter there with drinks and a buffet. Anyone who is driven there to use the toilet immediately feels considerably less important. Faulty toilets and missing locks force all users into the one remaining cubicle. And that one holds its own set of problems.
When asked by Teneriffa News why, even four weeks later, everything still looked exactly the same as before, the company, via a spokesperson, referred enquirers to alternative toilet facilities. Signage? None whatsoever! The company repeatedly failed to answer questions about how long the locks and toilets would remain out of order and whether those affected could expect a refund.
Canary Islands: Aena is portraying itself as a saviour, but that’s not the company’s place
Despite long queues outside the terminal, Aena recently introduced access restrictions. The company landed itself in serious trouble with the island’s politicians. A change of heart? Again, not a chance! When the global pandemic left business travellers stranded at closed airports and they asked for a reduction in the exorbitant rents, the company initially turned a deaf ear. There are plenty of examples like this. All of this fits the picture of a company that prioritises profit above all else and only takes action when it has no other choice. Or when subsidies are on the cards.
The company has increased its prices per passenger and flight by 68 cents, which has driven Ryanair away from most of the country’s airports to Italy, Croatia and other destinations. In 2025, Tenerife South Airport handled around 14 million passengers, making it the seventh-largest in Spain. The price increase alone is therefore generating more than 9.5 million euros in additional revenue.
Aena does not provide exact figures. In the Canary Islands, revenue per passenger stood at around 6.10 euros prior to the price increase. This would mean that passengers at the island’s southern airport alone would presumably be worth around 95 million euros – every year.
Added to this are substantial rental income from retail space, car park revenue, lease payments for car hire spaces, commissions from airport catering, the VIP lounge and many other opportunities to generate revenue. The return on investment at the South Airport is correspondingly huge, and a refurbishment designed to provide more lounges, more shops and more car parks is, above all, an investment in the company’s own profits.
In the past, Aena has taken action only when it was economically advantageous or when there was no other option. Politicians would be well advised to highlight all of this, along with the mistakes of the past, to ensure they are not repeated. The fact that they are instead applauding profit-driven refurbishments seems as misguided as applauding an office worker for finding their desk completely empty in the morning.
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