Airport operator Aena's profit climbs as Middle East unrest drives travel shift

MADRID, July 29 (Reuters) - Spanish airport operator Aena raised its 2026 forecast for growth in passenger traffic to 3% on Wednesday, after posting higher first-half net profit, driven by strong tourist arrivals to Spain as Middle East unrest diverted travellers.

That compared with Aena's earlier forecast of 1.3% yearly passenger traffic growth in 2026, down from last year's increase of 3.9%.

"Since the onset of the (Strait of Hormuz) crisis, we have observed a diversion of travel demand towards Spain, which is perceived as a safe tourist destination," Aena said in a statement.

The company posted a 12% higher net profit of €1 billion ($1.14 billion) in the first half of the year, when its Spanish airports handled 156.2 million passengers, up 3.7% from a year earlier in the world's second-most visited country after France.

Aena's results were in line with analysts' expectations. The higher passenger traffic helped boost first-half revenue by 10% to €3.28 billion.

Shares in Aena fell 2% in early trading, however.

The airport operator had proposed raising fees from 2027 to help fund expansion at the busy airports in Madrid and Barcelona, when it expected more moderate traffic growth.

Airlines opposed the plan, calling instead for lower fees as passenger traffic continues to grow.

The operator added it had limited visibility for the second half of the year due to heightened uncertainty about the Middle East conflict.

This month the Spanish government estimated about 43 million international tourists will visit during the summer season, 6% more than in the June-September period last year, putting Spain on track to surpass a record 100 million foreign visitors this year.

Airlines boosted seat capacity by 6.5% between July and October, but Aena warned of weak passenger traffic, with numbers falling short of the seats offered.

($1=0.8772 euros)

(Reporting by Corina Pons; Editing by David Latona and Clarence Fernandez)