Aena. Memoria / Annual report Vol.I

Transcription

1 Aena Memoria / Annual report 2009 Vol.I

2 Annual Report 2009

3 This annual report presents information corresponding to 2009 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.

4 Annual Report 2009 Annual Report 2009 Anyone who is interested may download the Aena Annual Report 2009 at the following website: 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 planta c/ Arturo Soria, Madrid By [email protected] By phone: By fax: (+34) (+34)

5 More than 11 million passengers used Malaga Airport in 2009

6 Annual Report Institutional Information

7 Institutional Information Aena in figures 1 Aena in figures 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 and Transport of the government of Spain. In Spain, it has 47 airports and the heliports of Ceuta, and that of Algeciras, which is currently under construction. All told, it handled more than 187 million passengers and over 2.1 million operations in Spanish airports handled nearly 570,000 tons of cargo. In 2009 Aena was among the four most important providers of Air Navigation services in Europe, having controlled 1.88 million flights. Aena has 13,143 employees. The Aena Group includes the subsidiary companies Aena Desarrollo Internacional S.A. and Clasa, with a 100% holding; Crida, with 76.84%, and Ineco, with 61.09%. Aena Desarrollo Internacional S.A. has partnership holdings in 16 Latin American airports, which were used by 25 million passengers in London-Luton and Orland-Sandford are two of the TBI airports in which Aena Desarrollo Internacional S.A. has a share. The investments paid by the Aena group equal 1,715 million euros. Aena recorded a consolidated operating income of 3,095 million euros. The consolidated EBITDA is 574 million euros. 202 Annual Report 2009

8 Institutional Information Aena in figures Información institucional Aena participates in the most prestigious national and international trade fair in its industry Annual Report

9 Institutional Information Geographic presence 2 Geographic presence Santiago Corunna Vigo Asturias Bilbao San Sebastian Santander Vitoria Pamplona Leon Burgos Huesca-Pyrenees Logroño Girona-Costa Brava Salamanca Valladolid Madrid-Torrejon Madrid-Barajas Madrid-Cuatro Vientos Saragossa Valencia Reus Sabadell Barcelona Palma de Mallorca Son Bonet Menorca Albacete Ibiza Badajoz Alicante Seville Cordoba Federico Garcia Lorca Granada-Jaen Murcia-San Javier Lanzarote Jerez Algeciras Ceuta Malaga Almería Airport Control centre La Gomera El Hierro La Palma Tenerife Sur Tenerife Norte Gran Canaria Fuerteventura Melilla Heliport The Aena Group in Spain 47 airports 2 heliports (Ceuta y Algeciras) 5 en-route and approach control centres: Madrid, Barcelona, Seville, Palma de Mallorca and Canary Islands 2 terminal area control centres: Santiago and Valencia 45 control towers, 328 radio-aids, 132 communications centres and 40 radars More than 187 million passengers in Annual Report 2009

10 Institutional Information Geographic presence Información institucional Stockholm Belfast-International London Cardiff-International Burbank Tijuana Mexicali La Paz Hermosillo Los Cabos Los Mochis Aguas Calientes Guadalajara Puerto Vallarta Guanajuato-Bajio Morelia Manzanillo Barranquilla Cartagena Cali La Paz Cochabamba Santa Cruz Raleigh-Durham Atlanta Macon Orlando-Sanford Cayo Coco The Aena Groupa throughout the world Aena has a stake in twelve airports through Aena Desarrollo Internacional S.A. in the company TBI (three in the United Kingdom, one in Sweden, one in the United States and three in Bolivia). Additionally, TBI is present in another four airports through management contracts (Burbank, Atlanta, Macon and Raleigh-Durham). Total: 22,588,700 passengers Aena has a stake in sixteen airports through Aena Desarrollo Internacional S.A. via different holdings (twelve in Mexico, three in Colombia and one in Cuba). Total: 24,981,552 passengers The traffic in Cuba is not tallied. It is a support contract with the Cuban airport operator ECASA. The traffic of the airports under management contracts in the U.S.A. (TBI) is never tallied owing to the forms of contract we have. Annual Report

11 Institutional Information Trends in significant volumes 3 Trends in significant volumes 300 GRAPH OF PASSENGERS (IN MILLIONS): ,0 GRAPH OF OPERATIONS (IN MILLIONS): 2,5 2,0 2,05 2,21 2,32 2,50 2,42 2,16 1,5 1,0 0, GRAPH OF CARGO (IN THOUSANDS OF TONS): Annual Report 2009

12 Institutional Information Trends in significant volumes 2,5 2,0 1,5 TOTAL NUMBER OF FLIGHTS MANAGED BY AIR NAVIGATION (IN MILLIONS OF AIR MOVEMENTS): 1,71 1,80 1,92 2,09 2,06 1,88 1,0 0, CONSOLIDATED OPERATING INCOME* (IN MILLIONS OF EUROS): CONSOLIDATED EBITDA* (IN MILLIONS OF EUROS) (Earnings before interest, taxes, depreciation and amortization): INVESTMENTS PAID BY THE GROUP** (IN MILLIONS OF EUROS): * 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. ** The concept of investments paid by the group was incorporated into the new accounting rules as of the year Annual Report

13 Institutional Information Governing bodies 4 Governing bodies Management Committee [As at December 31st, 2009] 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 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 Board of Directors [As at December 31st, 2009] Chairman D. Juan Ignacio Lema Devesa Directors Mr. Manuel Ameíjeiras Vales Mr. José Luis Cachafeiro Vila Mr. Francisco Cadarso González Mr. Mario Díaz Millán Mr. Luis Espadas Moncalvillo Mr. José Carlos Fernández Arahuetes Mr. Jesús Manuel Gómez García Mr. Carlos Ibarz del Olmo Mr. Miguel Ángel Jiménez Martín Ms. Cristina Latorre Sancho Mr. Manuel López del Saz Ms. Mónica Melle Hernández Ms. Monserrat Merino Pastor Ms. Soledad Sanz Salas Mr. Teófilo Serrano Beltrán Secretary Mr. Jesús Fernández Rodríguez Other members of the Board were Mr. Enrique Salvo Tierra, who resigned on April 21st, 2009; Ms. Encarnación Vivanco Bustos, who resigned on April 24th, 2009; Mr. Luis Felipe Palacio Arroyos and Mr. Manuel Bautista Pérez, who resigned on April 28th, 2009; Mr. José Salgueiro Carmona, who resigned on May 18th, 2009; Mr. Manuel Azuaga Moreno, who resigned on May 22nd, 2009; Mr. Jaime Jesús Denis Zambrana, who resigned on June 9th, 2009; Mr. Celso González González, who resigned on July 9th, 2009, and Mr. Carlos María Juárez Colera, who resigned on August 11th, Annual Report 2009

14 Institutional Information Organizational chart 5 Organizational chart Chairman and Managing Director Mr. Juan Ignacio Lema Devesa Director of Audits and Internal Control Mr. Alfonso de Alfonso Bozzo Business Units Director of Spanish Airports Mr. Javier Martín San Andrés Director of Air Navigation Ms. Carmen Librero Pintado Corporate Units 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 Annual Report

15 Institutional Information Letter from the Chairman 6 Letter from the Chairman In 2009 at Aeropuertos Españoles y Navegación Aérea (Aena) the strategic priority was to contend with the financial crisis by maintaining the highest levels of safety and quality, reducing costs and being more competitive, and to do all this in a sustainable manner in order to make the development of air transport compatible with environmental protection. Therefore, since last year we have been implementing a policy of cost reduction and productivity improvement conceived to permit us to ensure Aena s economic-financial viability without constituting en economic burden on the State or the tax-payer. Some of these measures, especially those concerning the air control service, have begun to be implemented in 2010 and we will provide a full account of them in next year s annual report. Here, I would merely like to point out that Law 9/2010 entails a thorough structural reform of our air navigation services, which will enable us to lower en-route charges by 15% and eliminate the deficit of approach charges within two years. 210 Annual Report 2009

16 Institutional Information Letter from the Chairman As regards the policy of savings in costs, the first measures implemented in 2009 allowed us to reduce expenses by 95 million euros. Savings will be multiplied in the coming years as a result of the Austerity Plan for , whereby we project a cost reduction of 750 million euros. Another one of the priorities we set in 2009 was defining a new airport management model that will enable us to carry out more effective management by providing services that are more efficient from an economic standpoint, and more suited to the territorial structure of our country. In 2010 important progress has also been made along these lines, and it will be materialized in a law regulating the modernization of the airport industry. All these activities are conducted with a will to achieve environmental sustainability, making air transport compatible with environmental protection through measures designed to reduce noise for populations in the vicinity of the airports, decrease green-house gas emissions and foster energy efficiency and the use of renewable energy technologies. Juan Ignacio Lema Devesa Chairman and Managing Director Aena Increasing the capacity of airport facilities to adapt them to demands, while maintaining the highest levels of safety and quality, and making sure that the airports contribute to the economic development of the country, was another of our priorities in 2009 and it will continue to be so in the future. Annual Report

17 The airports of Aena have given service in 2009 more than 187 million passengers

18 Annual report General Information

19 General information Airports Airports TRAFFIC TRENDS IN SPAIN Aena s network airports recorded more than 187,6 million passengers in 2009 (8,0% fewer than in 2008) and operated more than 2,1 million flights (10,4% fewer), Nearly 570,000 tons of freight were transported through them (11,4% less), Although these figures reflect a decline in passengers, operations and cargo with respect to 2008, in line with the sharp downturn in air traffic worldwide, Aena is still the largest airport operator in the world. Passengers A total of 187,631,102 passengers used Aena network facilities during 2009, which represents an 8,0% decline with respect to 2008, Of all these passengers, 186,426,611 pertain to commercial flights (-7,9%), Of these, 110,772,629 used international flights (-8,0%) and 75,703,982 travelled on domestic flights (-7,6%). Among the busiest airports as regards passenger traffic, Madrid-Barajas continues to be the largest in the network, with 48,437,147 passengers, which entails a 4,7% decline with respect to 2008, It is followed by Barcelona, with 27,421,628 passengers (-9,4%); Palma de Mallorca, with 21,203,041 (-7,1%); Malaga, with 11,622,429 (-9,3%); Gran Canaria, with 9,155,665 (-10,3%), and Alicante, with 9,139,479 (-4,6%). Noteworthy among the airports with the largest growth percentages are those in Burgos, with an increase of 112,6%; Reus, with 33,5%; Santander, with 11,9%; and Santiago, with 1,4%, During 2009 the international passenger traffic decreased by 8,0% in the network overall, On the contrary, there was significant growth at the airports of Leon (1,280,7%), Salamanca (866,8%), Burgos (242,7%), Asturias (25,8%), Reus (7,3%), Tenerife Norte (5,8%) and Corunna (4,5%). «Aena is the largest airport operator in the world, with more than 187 million passengers a year,» As of July 2009 and during succeeding months a recovery of the monthly air traffic of passengers can be observed at different airports such as Alicante, Madrid-Barajas, Barcelona, Malaga, Tenerife Norte, Valencia and Lanzarote, Aircraft Throughout 2009, the airports performed a total of 2,168,580 operations, which entails a decline with respect to the number of operations in 2008 (-10,4%), Of the total of these movements, 1,823,282 pertain to commercial flights (-11,4%), of which 943,991 were domestic (-12,2%) and 880,291 were international (-10,5%), As regards types of flights, 1,616,755 were scheduled (-9,4%) and 181,277 (-22,7%) charter flights were recorded. Madrid-Barajas Airport continues to be the busiest of the entire network, with 435,187 flights (-7,4%), followed by Barcelona, with 278,981 operations (-13,3%); Palma de Mallorca, with 177,502 (-8,2%); Malaga, with 103,539 (-13,6%); Gran Canaria, with 101,557 flights (-12,6%); Valencia, with 81,126 (-16,2%); Alicante, with 74,281 (-8,4%); Tenerife Norte, with 62,776 (-7,4%), and Seville, with 55,601 (-14,5%). Reus Airport is outstanding among the airports with the largest growth in percentages of operations as it recorded a 16,0% increase (30,946 operations); 214 Annual report 2009

20 General information Airports followed by Huesca-Pyrenees, 10,4% (21,441); Madrid- Cuatro Vientos, 4,2% (54,115) and Salamanca, 3,1% (12,832). «The Aena network operated more than 2,1 million flights,» With regard to the number of international operations, the most notable growth took place at the airports of Asturias (34,5%), Tenerife Norte (25,9%) and Reus (12,1%); the origin or destination of most of these operations was a European airport, Cargo The volume of freight transported during 2009 was 564,783,382 kilograms, 10,3% less than the previous year, International cargo amounted to 405,488,067 kilograms (-5,6%) whereas domestic cargo totalled 159,355,315 kilograms (-20,4%). Madrid-Barajas, Barcelona, Saragossa, Vitoria and Gran Canaria airports are major hubs of freight transport By airports, Madrid-Barajas remains in first place, with 302,863,340 kilograms (-8,0%), It is followed by Barcelona, with 89,815,384 kilograms (-13,6%); Saragossa, with 36,890,090 (72,1%); Vitoria, with 27,388,041 (-21,7%), and Gran Canaria, with 25,994,738 (-22,9%). Annual report

21 General information Airports TOTAL TRAFFIC AT SPANISH AIRPORTS IN 2009 AIRPORTS PASSENGERS, OPERATIONS CARGO,, AVERAGE,,, Albacete 15,127 1, Alicante 9,139,479 74,281 3,199, Almeria 791,837 15,391 16, Asturias 1,316,212 16, , Badajoz 75,351 3, Barcelona 27,421, ,981 91,081, Bilbao 3,654,957 54,148 2,691, Burgos 27,716 3,571 8 Ceuta-Heliport 20,560 2,441 1,054 8 Cordoba 15,474 8,650 2 Corunna 1,068,823 16, , El Hierro 183,891 4, , F,G,L, Ganada-Jaen 1,187,813 16,300 41, Fuerteventura 3,738,492 36,429 1,916, Girona-Costa Brava 5,286,970 48,127 74, Gran Canaria 9,155, ,557 25,998, Huesca-Pyrenees 6,228 21,441 Ibiza 4,572,819 53,552 3,143, Jerez 1,079,616 43, , La Gomera 34,605 1,917 10, La Palma 1,043,274 19,742 1,083, Lanzarote 4,701,669 42,915 4,147, Leon 95,189 4,773 3, Logroño-Agoncillo 35,663 5,023 7 Madrid-Barajas 48,437, , ,899, Madrid-Cuatro Vientos ,115 Madrid-Torrejon 28,423 11, Malaga 11,622, ,539 3,402, Melilla 293,695 9, , Menorca 2,433,666 28,189 2,621, Murcia-San Javier 1,630,684 15,900 15, Palma de Mallorca 21,203, ,502 17,088, Pamplona 335,612 11,690 44, Reus 1,706,615 30,946 9, Sabadell 43,934 Salamanca 53,088 12,832 4 San Sebastian 315,294 9,746 31, Santander 958,157 18,756 11, Santiago 1,944,068 20,166 1,991, Saragossa 528,313 12,750 37,830, Seville 4,051,392 55,601 5,021, Son Bonet 13,112 Tenerife Norte 4,054,147 62,776 18,315, Tenerife Sur 7,108,055 49,779 5,474, Valencia 4,748,997 81,123 9,801, Valladolid 365,720 9,236 75, Vigo 1,103,285 15, , Vitoria 39,933 9,490 29,818,814 4 TOTAL 187,631,102 2,168, ,653, Pasajeros,,- Los datos de pasajeros incluyen pasajeros totales más pasajeros en tránsitos Mercancia,,,- Los datos de kilogramos de mercancía incluyen otras clases de tráfico y mercancia en tránsito. Media,,,,- Media de pasajeros por operación, 216 Annual report 2009

22 General information Airports TOTAL PASSENGERS IN 2009 AIRPORT PASSENGERS AIRPORT PASSENGERS Madrid-Barajas 48,437,147 La Palma 1,043,274 Barcelona 27,421,682 Santander 958,157 Palma de Mallorca 21,203,041 Almeria 791,837 Malaga 11,622,429 Saragossa 528,313 Gran Canaria 9,155,665 Valladolid 365,720 Alicante 9,139,479 Pamplona 335,612 Tenerife Sur 7,108,055 San Sebastian 315,294 Girona-Costa Brava 5,286,970 Melilla 293,695 Valencia 4,748,997 El Hierro 183,891 Lanzarote 4,701,669 Leon 95,189 Ibiza 4,572,819 Badajoz 75,351 Tenerife Norte 4,054,147 Salamanca 53,088 Seville 4,051,392 Vitoria 39,933 Fuerteventura 3,738,492 Logroño-Agoncillo 35,663 Bilbao 3,654,957 La Gomera 34,605 Menorca 2,433,666 Madrid-Torrejon 28,423 Santiago 1,944,068 Burgos 27,716 Reus 1,706,615 Ceuta-Heliport 20,56 Murcia-San Javier 1,630,684 Cordoba 15,474 Asturias 1,316,212 Albacete 15,127 F,G,L, Granada-Jaen 1,187,813 Huesca-Pyrenees 6,228 Vigo 1,103,285 Madrid-Cuatro Vientos 229 Jerez 1,079,616 Sabadell 0 Corunna 1,068,823 Son Bonet 0 BUSIEST AIRPORTS BY TOTAL PASSENGER TRAFFIC IN 2009 Asturias Murcia-San Javier Reus Santiago Menorca Bilbao Fuerteventura Sevilla Tenerife Norte Ibiza Lanzarote Valencia Girona- Costa Brava Tenerife Sur Alicante Gran Canaria Málaga Palma de Mallorca Barcelona Madrid-Barajas 0 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 Annual report

23 General information Airports TRAFFIC, AT AENA AIRPORTS IN VARIATION,,, TRAFFIC AIRCRAFT Domestic 942,991-12,2% 43% International 880,291-10,5% 41% Other kinds 345,298-5,0% 16% Total 2,168,580-10,4% 100% PASSENGERS Domestic 75,703,982-7,6% 40% International 110,722,629-8,0% 59% Other kinds 337,392-9,5% 0% Transit 867,099-25,5% 0% Total 187,631,102-8,0% 100% CARGO IN KILOS Domestic 159,335,315-20,4% 28% International 405,448,067-5,6% 71% Other kinds 159,185 8,5% 0% Transit 4,710,837-64,5% 1% Total 569,653,404-11,4% 100% UNITS OF TRAFFIC,, Domestic 77,297,335-7,9% 40% International 114,777,110-7,9% 59% Other kinds 338,984-9,4% 0% Transit 914,207-29,5% 0% Total 193,327,636-8,1% 100%, Totals include transit and other kinds of traffic,,, A unit of traffic is equivalent to one passenger and his/her luggage or 100 kilograms of cargo,,,, Variation in 2009 with respect to 2008, 218 Annual report 2009

24 General information Airports PASSENGER TRAFFIC TOTALS, IN VARIATION,, TRAFFIC SCHEDULED Domestic 74,037,693-7,6% 44% International 93,955,995-4,2% 56% TOTAL 167,993,688-5,7% 100% CHARTER Domestic 1,660,687-9,8% 9% International 16,757,328-24,9% 91% TOTAL 18,418,015-23,7% 100% OTHER SERVICES 14,908-21,7% 1% OTHER TRAFFIC 337,392-9,5% 28% TRANSIT 867,099-25,5% 71% TOTAL 1,219,399-21,6% 100% TOTAL 187,631,102-8,0% 100%, Passenger totals include transit and other traffic.,,variation in 2009 with respect to 2008, TREND IN PASSENGER TRAFFIC TOTALS Annual report

25 General information Airports AIRCRAFT TRAFFIC, IN ,009 VARIATION,, TRAFFIC SCHEDULED Domestic 139,284,870-16,5% 30% International 328,621,342-6,0% 70% TOTAL 467,906,212-9,4% 100% CHÁRTER Domestic 19,803,317-40,1% 21% International 76,506,641-3,8% 79% TOTAL 96,309,958-14,5% 100% OTHER SERVICES 567,212-27,4% 10% OTHER KINDS OF TRAFFIC 159,185 8,5% 3% TRÁNSITOS 4,710,837-64,5% 87% TOTAL 5,437,234-61,7% 100% TOTAL 569,653,404-11,4% 100%, Total operations including other kinds of traffic,,variation in 2009 with respect to 2008 TOTAL CARGO TRAFFIC TREND (IN THOUSAND TONS) Annual report 2009

26 General information Airports PASSENGERS COMMERCIAL INTERNATIONAL OTHER KINDS DOMESTIC TRANSIT SCHEDULED CHARTER SCHEDULED CHARTER ,668,536 2,410,194 40,330,558 35,396, ,272 1,820, ,979,285 1,875,832 45,781,831 35,401, ,517 1,660, ,883,172 1,655,429 49,185,247 34,143, ,476 1,479, ,857,853 2,261,547 49,773,812 33,386, ,783 1,500, ,325,919 2,590,053 56,291,001 32,740, ,261 1,594, ,566,398 2,930,938 65,384,904 30,197, ,452 1,756, ,770,980 2,609,550 75,516,257 27,376, ,370 1,633, ,186,689 2,322,090 83,079,805 26,809, ,284 1,710, ,661,047 2,406,954 94,831,107 24,756, ,021 1,443, ,115,031 1,840,632 98,037,782 22,313, ,680 1,163, ,037,693 1,660,687 93,955,995 16,757, , ,099 DOMESTIC COMMERCIAL PASSENGERS 80,000,000 60,000,000 40,000,000 20,000, INTERNATIONAL COMMERCIAL PASSENGERS 100,000,000 90,000,000 80,000,000 70,000,000 60,000,000 50,000,000 40,000,000 30, ,000,000 10,000, Annual report

27 General information Airports BREAKDOWN OF TOTAL PASSENGERS IN 2009 SCHEDULED DOMESTIC 74,037,693 DOMESTIC CHARTER 1,660,687 SCHEDULED INTERNATIONAL 93,955,995 INTERNATIONAL CHARTER 16,757,328 OTHER KINDS 337,392 TRANSIT 867,099 TOTAL 187,616,194 OTHER SERVICES NOT INCLUDED 14,908 TOTAL 187,631,102 No Regular Internacional 8.93% Otras Clases 0.18% Tránsitos 0.46% Regular Nacional 39.46% Regular Internacional 50.08% No Regular Nacional 0.89% 222 Annual report 2009

28 General information Airports COMPARISON OF TRAFFIC AT EUROPEAN AIRPORTS Average Europe 2009 (ACI Worldwide), -5,5% AIRPORT CODE THOUSANDS PASSENGERS VARIATION,, London (United Kingdom) LHR 66, % Paris (France) CDG 57, % Frankfort (Germany) FRA 50, % Madrid-Barajas (Spain) MAD 48, % Amsterdam (Netherlands) AMS 43, % Rome (Italy) FCO 33, % Munich (Germany) MUC 32, % London (United Kingdom) LGW 32, % Istanbul (Turkey) IST 29, % Barcelona (Spain) BCN 27, % Paris (France) ORY 25, % Zurich (Switzerland) ZRH 21, % Palma de Mallorca (Spain) PMI 21, % Dublin (Ireland) DUB 20, % London (United Kingdom) STN 19, % Copenhagen (Denmark) CPH 19, % Manchester (United Kingdom) MAN 18, % Moscow (Russia) DME 18, % Antalya (Turkey) AYT 18, % Vienna (Austria) VIE 18, %, Datos ACI Mundial a 16 de marzo de 2010, correspondientes a 2009.,, Variación de 2009 sobre 2008, Annual report

29 General information Información general Airport Infrastructures Infrastructures CRITERIA FOR AENA DEVELOPMENT PROJECTS During 2009 Aena carried on with its investment effort given its decided belief in the need to create and develop airport infrastructures, adopting the measures necessary for expanding, modernizing and upgrading the airport facilities in order to adapt the capacity and services available to the demands on air transport. To this end, the Directorate of Infrastructures, in keeping with the applicable rules and guidelines, draws up the projects and oversees the construction of the necessary facilities, thus contributing to the improvement of quality, increasing environmental sustainability, maintaining high levels of safety and prevention of workplace risks, all this within a framework of technical and economic efficiency. The way the abovementioned criteria are applied in Aena s development projects is explained below: Safety and prevention, In both the design and construction phases of the development projects the conditions related to workplace risk prevention have been continually improved in order to minimize workplace accidents, including in the specifications the preventative criteria required by Aena and by the legislation in force in this regard on minimum provisions in security and health-related matters at the construction sites. Quality assurance, Overseeing, coordinating, supervising and directing the activities related to the development and monitoring of the Quality Management System, in addition to conducting activities related to the technical audits of the construction work executed by the Directorate of Infrastructures. through the directorates of the corresponding project files. Environment, Directing and managing the different environmental activities derived from the execution of development projects, coordinating the actions necessary for carrying out different studies, projects and reports that are established in the corresponding environmental impact statements required by contract, performing environmental monitoring and control from the design phase until the completion of construction and collaborating, at all times, in the preparation and processing of environmental impact studies for the development projects assigned to the Directorate of Infrastructures, «In 2009 Aena continued its investment effort to adapt the capacities and services of the airports to the demands of air transport» Moreover, given the dimension, complexity, investment in and saturation of the existing facilities, through the special master plans for the airports (Barcelona Plan, Levante Plan and Malaga Plan, which are the units in charge of developing and executing the facilities for the expansion of the airports of Barcelona, Alicante-Valencia and Malaga, respectively) Aena has continued their development, progressing in the projects and executing the programmed construction in order to modernize and upgrade the facilities to enable meeting demands, as well as contributing to the improvement of the image of the airports as they are perceived by users and society at large. 224 Annual report 2009

30 General information Infrastructures Barcelona Plan Progress continued to be made on the projected actions, with the conclusion of construction work in the new terminal area, and that corresponding to the expansions and upgrading of the car parks, cargo area and service area of the new Terminal 1, The most significant construction under way includes building the south Control Tower, the east aircraft apron, the road connecting the terminals and expanding the general car park. «Terminal 1 of Barcelona Airport went into service on June 17th, 2009» However, the most significant event as regards the actions encompassed in the Barcelona Plan was that which took place on June 17, the opening of Barcelona Airport s Terminal 1, which was inaugurated the previous day. Levante Plan The Levante Plan pertains to the airports of Alicante and Valencia, and during 2009 the following were the most significant actions carried out: Alicante Airport, The airport services building was completed, construction of the New Terminal Area is under way, the airfield is being upgraded and the electrical system is being revamped: new power plant, connections, galleries, etcetera. Projects were drawn up for expanding the aircraft holding bay, repairing the runway thresholds and implementing an integrated security system. Valencia Airport, The programmed construction work progressed as planned, That related to upgrading the airfield and building the new treatment plant was completed and that corresponding to the entrances to and utilities for the new control centre are still under way. Malaga Plan Considerable progress was made on the promised and projected actions of the Malaga Plan, namely: New Terminal Building, The new processing building will be adjacent to the northern façade of the existing terminal so as to integrate the three terminals within a single terminal concept so that users can get around easily and conveniently, It will also boast a transport interchange to further intermodality. «Malaga Airport achieves the integration of its three terminals through a single terminal concept» Railway station and underground rail, The construction of a new railway station will complete the provision of the means of transport to the airport site. New north-south connection tunnel, The expansion of the Terminal Area includes building a false tunnel that will become the airport s main artery, as it will link the north and south access roads, Aircraft aprons, The following improvements have been projected to enable operating at the Annual report

31 General information Infrastructures New Terminal Area: northward expansion of the apron; construction of the perimeter apron, which will encircle the future pier of the new terminal on the east side; a new apron associated with the new runway, equipped with a network of hydrants for supplying fuel, and expansion of the general aviation apron. MOST SIGNIFICANT PROJECTS DRAFTED (COMPLETED) IN 2009 AIRPORT TITLE COST (millions of ) Alicante Acquisition and installation of command and presentation system Asturias Roofing and expansion of baggage handling area (expansion of baggage claim area, baggage handing area and handling facilities) Asturias Repairing pavement of runway heads Asturias Car park building Bilbao Security road and perimeter fencing 80.0 Bilbao Construction of service roads on runway strips 80.0 Bilbao Upgrading pavement in cargo area of industrial area along runway strip Bilbao Construction of car park 1,575.0 Bilbao Acquisition and installation of a point to point monitoring and control system for visual aids 2,353.0 Bilbao Provision and installation of new wire collectors for the 400 Hz electrical system of the air-bridges Ceuta-Heliport Renovation of the security perimeter fencing and other actions 15.0 Fuerteventura Upgrading roads and pavement 60.0 Gran Canaria New water treatment plant Gran Canaria Construction and expansion of access roads to 03 head Gran Canaria South Access Airport Bial L1 / L2 - Las Puntillas 1,000.0 Girona New taxiway for high-speed turnoff 175,0 El Hierro Expansion of the Terminal Area El Hierro Construction of a new car park and expansion of the south apron Ibiza Expansion of the public car park La Gomera Canalization of ravines and rainwater runoff Repair and expansion of service road 40.0 La Palma Pavement of western area Lanzarote Upgrading apron Lanzarote New fire-fighting service building Lanzarote New taxiway for high-speed turnoff at head Lanzarote Expansion of apron 1,100.0 Leon Adaptation of air force base open to civil traffic to civil area of the project for the new terminal, pavement and apron Leon Acquisition and installation of a baggage screening system Logroño Civil works projects Logroño Actions for installation of Category I ILS and upgrading of runway heads Madrid-Barajas Upgrading toilets in terminals 1, 2 and Madrid-Barajas Expansion of rainwater runoff drainage system at Terminal Annual report 2009

32 General information Infrastructures MOST SIGNIFICANT PROJECTS DRAFTED (COMPLETED) IN 2009 AIRPORT TITLE COST (millions of ) Madrid-Barajas Base design of office building in southern area Madrid-Barajas Actions to improve baggage transport facilities Madrid-Barajas Adaptation of CCTV video recording to digital format Madrid-Barajas Increase power of 400 Hz system in air-bridges 1,2,3 and 4 of terminals 1,2, and Melilla Improvement of perimeter fencing and upgrading of perimeter road 45.0 Melilla Remodelling fire-fighting building, new equipment and handling building Menorca Repair pavement, runway and taxiway Murcia-San Javier Upgrading terrain for gliding path at threshold Murcia-San Javier Upgrading check-in and boarding areas Palma de Mallorca Remodelling entrance road to airport from the Santanyí motorway Palma de Mallorca Construction of shopping areas in Module C Palma de Mallorca Air-bridges and aircraft service equipment Pamplona Acquisition and installation of hold baggage screening system 1,607.3 Reus Apron for fire-fighting drills 60.0 Reus New Terminal Area 3,799.5 Santiago Taxiway for high-speed turnoff Santiago Acquisition, installation and integration of the hold baggage screening system 6,430.0 Santiago Air-bridges and aircraft service equipment 6,754.9 Son Bonet Expansion of taxiway to runway head Central Services Remodelling Aena's laboratory building in Madrid Tenerife Norte Waterproofing underground parking area of the New Terminal Building 50.0 Tenerife Norte Expansion of the commercial apron on the west side (adaptation of west apron and new general aviation apron) Tenerife Sur Airside projects Tenerife Sur Projects to improve Terminal Area Tenerife Sur Electrical supply and system to boarding air-bridges 1,318.5 Valladolid Welding storeroom 40.0 Vitoria Increase parking space for passengers 75.0 Saragossa Expansion of garages and quarters for the fire-fighting service 55.0 Saragossa Upgrading aircraft apron Annual report

33 General information Infrastructures MOST SIGNIFICANT WORKS UNDER WAY IN 2009 AIRPORT TITLE COST (millions of ) Fuerteventura Furnishing shopping areas in the expansion of the Terminal Building 5.0 Fuerteventura Air-bridges and aircraft service equipment for the expansion of the New Terminal 8.3 Fuerteventura Acquisition, installation and integration of a hold baggage screening system 32.7 Girona-Costa Brava Remodelling of Terminal Building 8.2 Girona-Costa Brava Car park P3 and new bus parking area 29.4 Girona-Costa Brava Expansion and modification of baggage carousels in arrivals 0.7 Getafe Installation of modular buildings 3.7 La Gomera Upgrading of airfield 0.7 Granada-Jaen New power plant 0.5 Gran Canaria Expansion of Terminal Building Ibiza Renovation of the facilities of the Terminal Building and new heating and cooling plant 31.7 Ibiza Construction of shopping areas 3.4 Ibiza Adapting Terminal Building to functional design 59.3 Jerez Second phase of Terminal Building expansion 7.2 Jerez Extension of taxiway to runway head Jerez Screening of hold baggage 2.4 La Palma New terminal area and control tower 98.4 La Palma Adaptation of exits to building code 1.0 Lanzarote Installation of number plate recognition system and updating of management system 0.7 Lanzarote Runway extension 7.6 Lanzarote Expansion of the system for transporting baggage to Terminal Lanzarote Revamping the electrical system 13.2 Leon New terminal building, site development and apron 17.3 Leon Revamping electrical system 6.3 Madrid-Barajas Construction of new apron between ramp 7 and ramp Madrid-Barajas Renovation of apron pavement Madrid-Barajas Expansion of rainwater runoff drainage system of T4 6.5 Madrid-Barajas Maintenance of heating and cooling system T2 1.0 Madrid-Barajas Provision and installation of improvements in the heating and cooling systems of the boarding air-bridges of T4 and T4S 2.1 Madrid-Barajas Installation of high-speed baggage transport system at arrivals 5.8 Madrid-Torrejon Construction and development of roads 7.6 Malaga Air-bridges and aircraft service equipment for the expansion of Terminal 9.6 Malaga Baggage screening system for expansion of Terminal Area 38.0 Menorca Elimination of obstacles in airfield 1.3 Murcia Expansion of public car park and installation of shelters 2.6 Palma Mallorca Expansion of module C 39.7 Palma Mallorca Development of passenger area and trade fair centre 3.0 Palma Mallorca Provision and installation of furnishings for Pier C 0.9 Palma Mallorca Upgrading airfield 5.9 Palma Mallorca Improvement of reliability of electrical system 6.2 Palma Mallorca Air-bridges and aircraft service equipment 8.1 Pamplona New Terminal Area 21.0 Pamplona Acquisition and installation of the hold baggage screening system 1.5 Reus Expansion of check-in and departures Annual report 2009

34 General information Infrastructures MOST SIGNIFICANT WORKS UNDER WAY IN 2009 AIRPORT TITLE COST (millions of ) Reus Project, supply and installation of provisional building for departures 4.2 Reus Acquisition and installation of hold baggage screening system for departures building 3.0 Salamanca Revamping electrical system 6.0 San Sebastian Runway extension 1.3 Santander Remodelling Terminal Building 9.4 Santiago New Terminal Area Santiago Aircraft stands in southern area 23.5 Seville Expansion of car park 15.0 Seville Adaptation of landside development to new needs 2.3 Tenerife Norte Actions for transition to category II/III 8.5 Tenerife Norte Acquisition and installation of visual docking guidance system 0.6 Tenerife Sur Fencing around north-side property 1.3 Tenerife Sur Taxiway extension 5.4 Tenerife Sur Replace MCQUAY coolers 0.6 Tenerife Sur Unification of voltages, improvements in the electricity grid and management 11.7 Tenerife Sur Acquisition, installation and integration of the hold baggage screening system for the new Departures Terminal Building 8.0 Tenerife Sur Supply and installation of boarding air-bridges 1.1 Vigo Car park, site development and technical block 41.4 Vigo Provision and installation of number plate recognition system 1.0 Saragossa New cargo terminal and upgrading site development 2.2 San Sebastian Runway extension 1,3 Santander Remodelling Terminal Building 9,4 Santiago New Terminal Area 125,8 Santiago Aircraft stands in southern area 23,5 Seville Expansion of car park 15,0 Seville Adaptation of landside development to new needs 2,3 Tenerife Norte Actions for transition to category II/III 8,5 Tenerife Norte Acquisition and installation of visual docking guidance system 0,6 Tenerife Sur Fencing around north-side property 1,26 Tenerife Sur Taxiway extension 5,4 Tenerife Sur Replace MCQUAY coolers 0,6 Tenerife Sur Unification of voltages, improvements in the electricity grid and management 11,7 Tenerife Sur Acquisition, installation and integration of the hold baggage screening system for the new Departures Terminal Building 8,0 Tenerife Sur Supply and installation of boarding air-bridges 1,1 Vigo Car park, site development and technical block 41,4 Vigo Provision and installation of number plate recognition system 1,0 Saragossa New cargo terminal and upgrading site development 2,2 MOST SIGNIFICANT PROJECTS COMPLETED IN 2009 AIRPORT TITLE COST (millions of ) Corunna Expansion of south apron 4.2 Corunna Runway extension 5.2 Corunna Acquisition, installation and integration of hold baggage screening system 1.6 Almeria Development of services area 2.8 Asturias Provisional car park 2.3 Annual report

35 General information Infrastructures MOST SIGNIFICANT PROJECTS COMPLETED IN 2009 AIRPORT TITLE COST (millions of ) Asturias Expansion of commercial apron 1.7 Asturias Upgrading former CLH quarters for multiple uses 0.5 Barcelona Updating wire collection system and connection to 400 Hz 1.5 Barcelona Provision and installation of air-bridges and aircraft service equipment 30.7 Bilbao Multi-purpose building in the new airport services area 1.6 Fuerteventura New water gallery 1.4 Fuerteventura Extension and upgrading of Alfa and Bravo streets 0.7 Fuerteventura Repairing roof of Terminal Building and shelters 0.5 Girona-Costa Brava Expansion of aircraft stand apron 3.1 Girona-Costa Brava Provision and installation of number plate control system and CCTV 0.5 Girona-Costa Brava Upgrading apron 0.9 Girona-Costa Brava Contingency parking 1.0 Girona-Costa Brava Renovations in the treatment plant 0.6 Girona Installation of number plate recognition system and updating management system 0.9 Girona Actions for transition to category II/III 10.8 Girona Complementary facilities for baggage screening system 0.8 Getafe Civil works projects 12.0 Gran Canaria Expansion of apron and reconstruction of taxiways 19.5 Gran Canaria Car park in current terminal 11.5 Gran Canaria Provision and installation of aircraft crash barrier with retractable wire 0.8 Gran Canaria Provision and installation of mobile emergency stop system 0.3 Gran Canaria Installation of number plate recognition system and updating management system 1.3 Granada-Jaen Expansion of apron and spectator's gallery 7.0 Granada-Jaen Expansion of public car park 1.3 Huesca-Pyrenees Apron for fire-fighting drills 0.6 Ibiza Improvement of taxiway pavement of runway 2.9 Jerez Upgrading runway 1.2 Jerez Upgrading airfield 1.9 Lanzarote Diverse improvements in parking area 1.8 Logroño Apron for fire-fighting drills 0.5 Madrid-Barajas Development of south cargo area 15.1 Madrid-Barajas Replacement of heating and cooling units. Phase I 0.9 Madrid-Barajas Upgrading TSA, tower SDP-T4 and T.C.N. fire-fighting facilities 2.7 Madrid-Barajas Renovation of pavement of taxiways "I" 5.0 Madrid-Barajas Replacement of ventilation units Phase II 0.9 Madrid-Barajas Replacement of terminal units for purifying air Phase II 0.7 Madrid-Barajas Repairing and putting into service hydrocarbon separator plant for remote stands 1.7 Madrid-Barajas Diverse actions in boarding air-bridges Madrid-Barajas Replacement of 400Hz wire collectors 1.5 Madrid-Barajas Provision and installation of equipment to rectify insufficient capacity of the SATE-T4/T4S in the New Terminal Area Phase II 14.0 Madrid-Cuatro Vientos Remodelling beaconing 0.4 Melilla Remodelling Terminal Building 6.5 Melilla Apron for fire-fighting drills 0.6 Melilla Upgrading airfield 1.0 Menorca Expansion of Terminal Building 56.5 Menorca Car park and pavement Annual report 2009

36 General information Infrastructures MOST SIGNIFICANT PROJECTS COMPLETED IN 2009 AIRPORT TITLE COST (millions of ) Menorca New furnishings for terminal building 3.5 Menorca Improvement of the arrivals baggage system 1.0 Menorca Acquisition, installation and integration of the hold baggage screening system 6.9 Murcia-S. Javier Expansion of aircraft apron 3.5 Murcia-S. Javier Instrumentation, upgrading and application of the ATEX regulations at fuel facility 9.8 Murcia-S. Javier New power plant 3.7 Palma Mallorca Expansion of remote boarding areas in module "D" 3.5 Palma Mallorca Apron opposite New Terminal Building 11.7 Palma Mallorca Restoration of northern runway 0.8 Pamplona New Control Tower 4.6 Pamplona Expansion of runway at head Reus Furnishing check-in and departures building 1.4 Reus Upgrading and expansion of apron 9.3 Reus Removal of rubble from firing range 1.0 Sabadell Remodelling tunnel at head Salamanca Upgrading apron and access road 1.5 Salamanca New building for fire-fighting service 1.2 San Sebastian Renovation of general aviation apron 0.9 Santander Expansion of apron and taxiways 17.7 Santander Apron for fire-fighting drills 1.1 Santiago Complementary works: New Control Tower and Control Centre 0.5 Seville Smoothing, restoring and sealing cracks on taxiway 1.1 Seville New taxiway R-11 at head 27 and pavement of medians 6.2 Seville Adapting airport to the technical standards for civil aviation 1.9 Seville Upgrading movement area. Aircraft stands apron 0.1 Tenerife Norte Expansion of apron on east side 7.3 Tenerife Norte Actions for transition to category II/III and upgrading taxiway 10.1 Tenerife Norte Architectural and functional improvements of roof of Terminal Building 2.3 Tenerife Norte Complementary works at new control tower for adaptation to electrical regulations 0.7 Tenerife Norte New exit road 1.7 Tenerife Sur Installation of generator sets and replacement of centres 4.0 Tenerife Sur Upgrading apron 1.9 Vigo Acquisition and installation of the system for individualized supervision and control of visual aids 0.8 Vigo Acquisition, installation and integration of hold baggage screening system 1.8 Vitoria Upgrading parking area 2.3 Saragossa Fitting out Terminal Area and remodelling dignitaries lounge 2.2 MOST SIGNIFICANT WORKS COMPLETED IN BARCELONA PLAN TITLE COST (millions of ) Provision, development, installation and integration of the management and control system of Barcelona's T1 3.7 Provision and installation of the CCTV system for Barcelona's T1 8.2 Upgrading outdoor car park of T1 5.9 Expansion of the cargo area: South Sector (Area 4) 3.7 Expansion and upgrading of the support area of T1 4.3 Annual report

37 General information Infrastructures MOST SIGNIFICANT WORKS UNDER WAY IN BARCELONA PLAN TITLE COST (millions of ) Construction of South Control Tower of Barcelona Airport 11.2 Road linking terminals. Phase 2. Expansion of general car park 20.3 Development of the reserve area - second phase 5.4 Development of the reserve area - first phase and MET plots at Barcelona Airport 5.9 Construction and facilities of the east aircraft apron - phase Provision and installation of elements for controlling access by people and vehicles for Barcelona Airport's T1 5.3 MOST SIGNIFICANT PROJECTS COMPLETED IN BARCELONA PLAN TITLE COST (millions of ) Assistance for drafting the base design of the satellite building and expansion of the processor of T1 and assistance to Management during the drafting phase of the building 4,400.0 project and during the construction phase ( Part 1: drafting base design). Technical assistance for drafting the project for the development of the road linking the terminals. North area 1,200.0 Technical assistance for drafting the project for two multi-purpose warehouses (phase 3) in the aeronautical services park Development of the reserve area - first phase and MET plots at Barcelona Airport 5.9 Construction and facilities of the east aircraft apron - phase Provision and installation of elements for controlling access by people and vehicles for Barcelona Airport's T1 5.3 MOST SIGNIFICANT WORKS COMPLETED IN LEVANTE PLAN AIRPORT TITLE COST (millions of ) Alicante Storerooms 4.8 Alicante Airport services building 4.9 Valencia Upgrading airfield 2.20 Valencia Construction of the VIP lounge in the Regional Aviation Terminal Building 1.00 Valencia Construction of the new treatment plant 2.3 MOST SIGNIFICANT WORKS UNDER WAY IN LEVANTE PLAN AIRPORT TITLE COST (millions of ) Alicante New Terminal Area Alicante New power plant 18.3 Alicante Upgrading airfield 10.8 Alicante Fitting out Terminal Area 6.8 Alicante Number 1 complementary works of New Terminal Area 6.0 Alicante Repairing runway heads 5.9 Valencia Entrances and utilities for new Control Centre Annual report 2009

38 General information Infrastructures MOST SIGNIFICANT PROJECTS COMPLETED IN LEVANTE PLAN AIRPORT TITLE COST (millions of ) Alicante ATRP Expansion of aircraft holding bay Alicante ATRP Taxiway for high-speed turn-off Alicante ATRP Repair of runway heads Alicante ATRP New electrical interconnection galleries Valencia ATRP Horizontal planes and refurbishment of Terminal Valencia ATRP Revamping electrical system - Phase MOST SIGNIFICANT WORKS COMPLETED IN MALAGA PLAN TITLE COST (millions of ) Terminal Building, development and access roads Car park building and provisional access roads Complementary projects for the Terminal Building, development and access roads: preparation of available spaces 22.1 Eastward expansion of the apron 20.4 Actions in false tunnel and bus station 16.7 Preparation, installation and equipping galleries 6.3 Provision of and facilities for shopping areas 6.2 MOST SIGNIFICANT WORKS UNDER WAY IN MALAGA PLAN TITLE COST (millions of ) Expansion of airfield. Civil Works Expansion of airfield. Beaconing and electrical system 34.7 Construction of underground passageway for handling vehicles in new airfield 24.8 South power plant 24.0 Railway station at Malaga Airport 20.8 Minor projects and additional facilities for opening the New Terminal Area of Malaga Airport (T3) 11.7 North access road and development at Malaga Airport. Phase 1: access from future west ring road 11.6 Connection between the Picasso building and the New Terminal of Malaga Airport (T3) 11.2 Access roads next to the Terminal Building and taxi rank at Malaga Airport 7.2 Dividing of CT1 Picasso 7.1 Complementary works for the installation of new generator sets and auxiliary systems 6.0 South access road to Malaga Airport. Link to the airport from the south access road 4.9 MOST SIGNIFICANT PROJECTS COMPLETED IN MALAGA PLAN TITLE COST (millions of ) ATRP and ATCV. Furnishings and equipment for the expansion of the Terminal Building of Malaga Airport ATRP. New building for the fire-fighting service at Malaga Airport ATRP. Expansion of the potable water supply system at Malaga Airport 72.0 Annual report

39 General information Air navigation Air navigation 1, INTRODUCTION The missions of air traffic services consist in the safe, effective and economical ordering of the traffic circulating in the airspace in which aircraft move simultaneously, and providing the references pilots need, based on the different radio-electric systems enabling them to fix their positions and follow scheduled flight paths, The concept of air navigation is founded on these two main guidelines. The functions entrusted to the Directorate of Air Navigation are defined by Aena s articles of association and they are as follows: Ordering, directing, coordinating, operating, managing and administering the services of air traffic, communications and aeronautical information, in addition to the infrastructures, facilities and communications networks of the air navigation system. Drafting and approving projects, and executing and controlling investments. Evaluating needs and proposals for new infrastructures. Participating in aeronautical education. The Directorate of Air Navigation plays a very active role in the diverse international programmes designed to standardize systems and unify airspaces, Particularly noteworthy are its participation in the European Single Sky Programme and its involvement in the European Region and the Canary Islands-South America corridor, As regards the Single European Sky, the Directorate is certified as a provider of air navigation services in the airspace of national sovereignty and the internationally delegated airspaces. These services are provided through five regional air navigation directorates: Central-northern, Eastern, Canarian, Southern and Balearic, and their headquarters are respectively located in Madrid- Torrejon, Barcelona-Gava, Gran Canaria-Telde, Seville-San Pablo and Palma de Mallorca-Son Sant Joan. «In the FIR Peninsula 1,75 million operations were recorded and in the FIR/ ACC Canary Islands, there were more than 280,000,» The trends in air traffic are demonstrated in the statistical data on the level of demand, which refer to the volume of air movements managed by the regional directorates, and taking into account the fact that a unitary flight may give rise to various movements as it crosses the different divisions of the Spanish airspace, In 2009 lower demands led to an 8,74% reduction, with respect to 2008, as regards movements in the peninsular airspace (which includes the Balearic region), There were a total of 1,756,942 movements, whereas in the Canarian airspace there was a reduction of 13,43%, with a total of 282,495 movements. 234 Annual report 2009

40 General information Air navigation 2, PROGRAMMES AND ACTIONS 2,1 QUALITY AND ENVIRONMENTAL MANAGEMENT SYSTEM The Directorate of Air Navigation banks on a decided commitment to quality assurance, making this a main feature of its operating plan, A priority objective of Aena s quality plan is to maintain the Quality Management System (QMS) of the Directorate of Air Navigation in accordance with the UNE-EN-ISO 9001:2000 standards and the environmental management system (EMS) in accordance with the UNE-EN-ISO 14001:2004 standards, Therefore, the main actions carried out in 2009 consisted in: Implementation of the Environmental Management System (EMS) in accordance with the UNE-EN-ISO 14001:2004 standards, The Balearic DNRA obtained certification as a result of the audit completed by Aenor in December of 2008 (the certificate was issued in 2009), Similarly, the certificates of the Eastern Region, Canarian Region, Central-Northern Region and Southern Region and Central Air Navigation Services were renewed. The Directorate of Quality, Safety and Certification of Air Navigation completed the development phase and began implementing the plan for integrating the Directorate of Air Navigation s management, quality, safety and security systems. The objective of this plan is to ensure effective administration of the management systems, making them compatible with each other so that the DNA can establish aligned objectives, with an overall view of them, and facilitate decision-making in the realms of quality, environment, safety and security. 2,2 SAFETY MANAGEMENT SYSTEM (SMS) Need for the ANSMS The safety of air traffic constitutes a key commitment for the national and international organizations in charge of regulating and managing the air navigation system as a whole, and it is the air navigation service s reason for being, Therefore, the Air Navigation Safety Management System (ANSMS) developed by Aena through the DNA complies with the set of common requirements established by the European Commission and the Spanish Aeronautical Authority (DGAC) and, specifically, it is founded on the following principles: To grant the highest priority to safety in the provision of air navigation services, over and above any other financial, operational, social or environmental criterion. To succeed in minimizing the air navigation system s contribution to risk situations. To ensure a formal, explicit and proactive approach to systematic safety management. SAFETY The Safety Management System having been put in place in 2006 in compliance with the requirements established in the standards for the provision of air navigation services (EC no, 550/2004) and the ministerial order of the DGAC on March 16th, 2006 regarding the attainment of certification for providers of civil air navigation services in accordance with the European Single Sky rules, over the course of 2009 the following progress was made concerning safety: Important progress was made pertaining to training, as the CBT safety course was given to 1,212 students, Diverse manuals on this subject are Annual report

41 General information Air navigation being produced and updated: drafting of the document on good practices regarding safety information, revision of the manual on the emergency plan and drafting of the AN protocol to put in place in the event that a serious accident or incident should occur. To improve the means of raising awareness about safety, a new magazine was published, +Seguridad en Navegación Aérea (More Security in Air Navigation), of which there were two editions made in 2009, A safety website was also developed, and its address is safety,lean,na,aena,es/, It can be visited directly or through Internav (Air Navigation s intranet). With regard to handling and assessment of safety incidents, the total number of internal notifications increased, The risk assessment and mitigation process is virtually consolidated, as the proper documentation for expediting it has been produced and the new coordination mechanisms have been established. SECURITY Among the Directorate of Air Navigation s main missions is to ensure the protection of people, facilities, technical means and data pertaining to AN, Therefore, the following steps were taken to improve the processes of security management: Human Resources for security were optimized by installing security systems that reduce expenses of security personnel without jeopardizing the facilities, Specifically, in 2009 reductions included: 1H9 in Menorca, 1H24 in Gran Canaria, 1H24 in Radar MGA of Malaga and 2H24 in the Southern Region ACC and C,R, el Judio. At the same time, detection systems were put in place, notably the implementation of Air Navigation credentials in the facilities where they were requisite. 2,3 DEVELOPMENT AND EVOLUTION OF OPERATIONS Organization and management of the airspace The Directorate of Air Navigation is committed to reaching maximum levels of quality in the services it provides by continually improving the efficacy of the services rendered and the efficiency of the system, As regards operations, the services provided are: organization and management of the airspace, management of the capacity-demand and control of air transit and aeronautical information. In order to increase efficiency, its objective is to reduce delays caused by the Spanish air transit management system, improve performance with respect to the number of operations in highly demanded periods and times, in addition to offering the possibility of selecting preferred routes and optimizing the management of traffic capacity and flow by meeting the requirements of users real-time operation. «Services are rendered through five regional directorates whose headquarters are located in Madrid-Torrejon, Barcelona- Gava, Gran Canaria-Telde, Seville-San Pablo and Palma de Mallorca-Son Sant Joan» 236 Annual report 2009

42 General information Air navigation The strategic changes addressed in 2009, defined in the ATM action plan, are the following: In the organization and management of the airspace: the latter will be structured and managed regardless of internal and external organizational borders, The ATC sectors will be designed according to demands in air traffic flows, without the organizational borders entailing limitations in the attainment of the best solutions. The route design and network will be optimized: the network of routes will be designed according to users preferences, and procedures for facilitating alternatives will also be developed. ATC will be optimized through the development and dynamic application of ATC sector-position configurations in response to different operating scenarios. Availability of use of the entire airspace: the airspace will be treated as a continuous resource available to all users. It is important to highlight that 95,5% of the ATM 2009 action plan was accomplished. TRAFFIC In the year 2009 a total number of 1,879,810 flights were managed by the Directorate of Air Navigation, which represents an 8,99% decline from the 2,065,413 during The following tables show the trend in operations in Spain throughout the year 2009 and the downturn with respect to the traffic recorded in 2008: %09 vs, %08 FIR SPAIN 1,879,810 2,065,413-8,99% FIR PENINSULA 1,756,942 1,925,178-8,74% FIR/ACC CANARIES 282, ,320-13,43% 2,4 SINGLE EUROPEAN SKY: SES (SINGLE EUROPEAN SKY) FUNCTIONAL BLOCK OF AIRSPACE (FAB) SPAIN-PORTUGAL The mission of the Single European Sky initiative is to restructure the management of air traffic in Europe by establishing a standardized regulatory framework in response to the system s current shortcomings and to meet future needs, This includes the overall improvement in performance of the European air navigation system to afford added value to the air transport chain. FAB (Functional Airspace Block) Portugal- Spain The volumes of airspace in which Air Navigation provides services are designed without regard to national or organizational borders, to attend to operational requirements. During 2008, in parallel to the requisites established by the European Single Sky initiative, Aena and NAV Portugal laid down the bases for increasing collaboration in different technical areas, especially in the framework of the processes of constituting functional airspace blocks (FAB), This process led to the signature, on March 17th, 2009, of the agreement of understanding between the service providers and aeronautical authorities of Spain and Portugal, for the constitution of the future functional airspace block of south-western Europe (SW-FAB). Annual report

43 General information Air navigation 2, 5 SESAR (SINGLE EUROPEAN SKY ATM RESEARCH) - SESAR JOINT UNDERTAKING (SJU) The SESAR (Single European Sky ATM Research) programme represents the technological aspect of the Single European Sky initiative, which will endow Europe with a high quality air traffic control infrastructure and permit the stewardship and ecological development of air transport. «An office of the Directorate of Air Navigation has been opened in Brussels» By taking full advantage of existing technologies, and those developed recently, such as Galileo, the specific SESAR concept is based on the following fundamental characteristics: A dynamic up-to-date network operating plan for continual operations that guarantees a common view of its situation. Complete integration of airport operations, as part of air traffic management and the planning process. Managing flight paths in such a way so as to reduce to a minimum the limitations of the organization of the airspace. New methods of separating aircraft, which enable increased safety, capacity and efficiency. Managing the information of the entire system as a whole, safely connecting all stakeholders involved in the management of air traffic, so they will share the same information. People principally in charge of decision-making: controllers and pilots will receive assistance through new automated functions in order to facilitate their work and enable them to carry out complex decision-making processes. The development and implementation of the SE- SAR programme is being carried out progressively and it is divided into three phases: Definition phase ( ) The main objective during this phase is drafting a European ATM (air traffic management) master plan, This is undertaken by a consortium hired by Eurocontrol (which funds it in conjunction with the European Commission) in which the most relevant companies and organizations in the European air transport industry are represented: airlines (Lufthansa, Iberia, Air France,,,), manufacturers (Airbus, Thales, Indra,,,), airports (Aena, BAA, Fraport, Schipol,,,) and air navigation service providers (Aena, DFS, NATS, ENAV, DSNA,,,). Development phase ( ) During this phase the research, development and validation tasks stipulated in the ATM master plan will be carried out, All the activities at this stage will be coordinated and funded by the SESAR Joint Undertaking (SJU), ultimately responsible for the identification and development of the future European ATM system. Deployment phase ( ) During this phase the operating solutions, and the technical means of facilitating them identified in the European master plan, will be progressively implemented. ACTIVITIES AND PROJECTS UNDERTAKEN Presentation of two tender proposals (BAFO 1 and BAFO 2) to the SESAR Joint Undertaking (SJU), resulting in Aena s being awarded 95 of the 98 proposed projects, for a total value of 72,6 million euros. 238 Annual report 2009

44 General information Air navigation Establishment of a procedure for controlling Aena s participation in the development phase of the SESAR programme, so that, in order to conduct monitoring: Work groups have been created to develop all the projects awarded and carry out the associated management tasks. Coordination mechanisms have been established through SESAR Committee meetings, in addition to the use of the online tool developed for this purpose. It is fitting to underscore the fact that the process to guarantee Aena s contribution to the SESAR programme is an ongoing activity: a guarantee that Aena will fulfil, in due time and form, the duties specified in the contracts entered into with the SESAR Joint Undertaking (SJU). CNS/ATM SYSTEMS DIRECTORATE Functional changes in the SACTA, ÍCARO systems The Automation Division has adapted the SACTA and Ícaro system to European regulations (SES) and its alignment with the SESAR (definition of safety requirements, introduction of European regulations, drafting CE verification statement, etcetera). EPISODIO 3: AFUA (Advanced Flexible Use of Airspace) concept The Simulation Division, within the simulation activities of the European Union EP3 project for the validation of elements of the SESAR concept, participates in several validation exercises that have enabled clarifying and refining this concept regarding the flexible use of the airspace among civil and military users. GBAS (Ground Based Augmentation Systems) projects The Satellite Navigation Division (DNS), within the SESAR framework, currently participates in three GBAS projects for the SESAR Joint Undertaking (SJU), The first of these, led by the DNS, was launched on December 17th, 2009 and it is called GBAS Operational Implementation, Once it is accepted by the SJU in mid 2010 the tasks projected in it will begin, These basically concern detecting the need to succeed in putting in place the GBAS CAT I procedure on the European scale in the short term, In 2010 the other two GBAS projects included in the SESAR will be launched. DIRECTORATE OF SNA OPERATIONS The Aeronautical Information Division has initiated its participation in the SESAR programme by developing the Project Initiation Reports (PIR). 2,6 SNA OPERATIONS Providing the service of technical operations of the Air Navigation System (SNA) guarantees, through the Central and Regional-Sector Organization of Technical Operations in Air Navigation, the technical and operational availability of air navigation systems through: The management, performance and supervision of the specialized activities of preventative and corrective maintenance of the AN systems. Monitoring and controlling the system. The development and deployment of support and analysis tools, to achieve continual improvement. The optimization of the useful life of the systems. The main activities conducted during the year 2009 are described by areas below. Annual report

45 General information Air navigation 2,6,1 AERONAUTICAL INFORMATION (AIS) Lleida Airport On the occasion of the opening of Lleida Airport, all the information on the airport and its charts slated for publication, in addition to the information to be inserted in the different parts of the AIP, was compiled. AERONAUTICAL SERVITUDE PROCEEDINGS Optimization of management and improvement of response times of the aeronautical servitude proceedings was achieved by implementing a coordination procedure, which has allowed the intervening units to resolve the studies in an average time not exceeding four months, Therefore, the average time for resolving the 179 files processed during 2009 was 105 days. GEOGRAPHIC INFORMATION SYSTEM The content of the geographic information system Opengis was expanded with the maps and orthophotos acquired from the IGN (National Geographic Institute), Of this content, the cartography generated at Air Navigation related to Aena property has been represented along with the Ingena geographic information database, Moreover, the configuration of aeronautical servitudes is being included in this information system as they are approved in the corresponding forum (currently 11 airports). TOPOGRAPHICAL SURVEYING AND OBSTACLES AT CATEGORY II/III AERODROMES The cartography from Asturias, Girona, Santiago, Vigo and Vitoria airports has been received and is being reviewed for the main purpose of supporting the design of Category II/III approach movements, This cartography, in addition to fulfilling the ICAO requirements for the areas described in chapter 10 of Annex 15, related to knowledge of the terrain and obstacles, will serve as an aid in the comparative analysis of the terrain and the bordering surfaces established by aeronautical servitudes. Regarding local topographical and cartographic projects that directly affect the recording of Geographic Information, the initially programmed projects were attended to, and assistance was provided upon request. 2,6,2 CNS/ATM SUPPORT INFRASTRUCTURES With regard to the compliance of the operating plan intended to improve, renovate and standardize air navigation infrastructures, the following are the most noteworthy actions carried out during 2009 in the different regional directorates: EASTERN REGION Construction of the new TACC Valencia and the new associated facilities, As of December 2009, 42,65% of the totality of the construction work was completed normally. CANARIAN REGION Project to improve AN facilities in the Canarian Region, The building project comprises the renovation of diverse air navigation aid facilities in the Canarian Region, both electrical and mechanical systems, and other civil works projects. CENTRAL-NORTHERN REGION Revamping the heating and cooling system of the ACC centralized systems building Madrid, Project to revamp the heating and cooling system of this building in order to achieve safe and effective cooling in the critical air navigation facilities located therein. Piping for fibre optics communications ring at Santiago de Compostela Airport, This plan was drawn up in order to meet the need for fibre optics communications in diverse facilities of the airport s airfield with TACC/TWR, Construction began in November of 2008, and it was completed in March of Annual report 2009

46 General information Air navigation SOUTHERN REGION Expansion of the equipment room in the TWR in Malaga, The basic objectives of this plan are to fit out spaces, undertake necessary renovations and dismantlement, in addition to revamping the electrical and mechanical facilities, for the eventual installation of the air navigation equipment associated with the projected demands of the future layout of the airport. 2,6,3 IN-FLIGHT VERIFICATION The most relevant actions during 2009 were: IN-FLIGHT CALIBRATION: Preferential use of Aena Internacional s In-Flight Verification Unit over other units that operated for Aena in this capacity: the agreed-upon number of hours to carry out with this unit for 2009 was exceeded. Permits for authorization flights at new facilities and associated procedures: The State Agency for Air Safety (AESA) obtained the abovementioned permits for the new unit of Aena Internacional, which will also allow the reports generated to be presented at air navigation forums. Periodic Calibrations Plan The completion of 96,68% of the flights planned represented the successful accomplishment of the objectives. 2,7 CNS/ATM SYSTEMS The main activities carried out during 2009 are described below by areas: 2,7,1 AUTOMATION Functional changes in the SACTA, ÍCARO and SCV systems SACTA SYSTEM (Automated Air Traffic Control System): Launching the 3,Z5 version of the SACTA System (Automated Air Traffic Control System) at the TMAroute control centres of the AN network (ACC Canaries, ACC Madrid, ACC Seville, ACC Barcelona, ACC Palma, TACC Valencia, Madrid-Barajas Tower, Barcelona Tower). Transition to opening of the new Terminal 1 at the Barcelona Tower, Adaptation of the SACTA System to the operation of the tower in the environs of the new airfield and launching the surface movement radar (SMR) service. ÍCARO System: The strategy of evolving the Ícaro 2000 system into the Ícaro XXI system was completed, ending the process that has allowed migrating from network architecture to a centralized architecture integrating all the information and functions, This architecture allows more control of the system from the logistical and management standpoints, thus facilitating the integrity and availability of the information. The transition of Ícaro 2000 to Ícaro XXI enabled reaching as many as 4,451 users, of whom 3,500 were users who connected to the system through the Internet in its Icaronet function, 430 were users who gained access to the system through the user stations provided in ARO offices of the airports and 450 were system operators. VCS SYSTEM (Voice Communications System) IN THE ACCs: Updating and deployment of the 2,4,T version VCS in the ACC of the Canary Islands and Palma de Ma- Annual report

47 General information Air navigation llorca, This enables taking on migration to the Redan (air navigation data network) and making both systems compatible. Launching a VCS for ATS simulation at the Madrid Control Centre. Launching a VCS for the CED (Centre for Experimentation and Development) of Air Navigation. Launching the VCS equipment in the UCS to be expanded in the CATS rooms of the control centres of Seville, Palma de Mallorca and the Canary Islands. Programme for Upgrading Automation Infrastructures Control Centres Updating and modernization of equipment (switches) corresponding to communications of SACTA system data affecting the equipment of the control centres of the Balearic Islands, Seville, Barcelona, the Canary Islands and the towers in Palma and Malaga. Substitution of the disc arrays in the Palestra and GSI environments. Substitution of the 2K screens in the control centres at Palma, Seville and Malaga APP. Installation and launching of VCS equipment in the UCS of the CATS simulation rooms of the control centres at Seville, Palma de Mallorca and the Canary Islands. Operative expansion of the analogue telephonic signalling system ATS R2 and ATS N5 on a national and international level, to achieve standardization and unification. Completion and launching of the relocation and expansion of the SACTA and VCS equipment in the dynamic simulator of the Madrid Control Centre. Control Towers Launching of SACTA equipment in the provisional tower of Barcelona Airport and in the tower at Murcia-San Javier Airport. Technical validation of the new tower at Lleida Airport. Launching new consoles at the South Tower of Madrid-Barajas Airport. Initiation of installation in the tower at Fuerteventura Airport. Installation of 3 new tower positions in the control cab of the tower at Malaga Airport. 2,7,2 NAVIGATION AND SURVEILLANCE 1, AIR NAVIGATION Navigation aids, also called radio-aids, is the set of radioelectric signals generated in ground facilities and received airborne, which permit the instrumental flight of aeroplanes without the need for visual references, The navigation systems support instrumental flight, which consists of the following stages: departure, en-route, arrival, approach and landing, Each one of these stages has standard procedures and its associated radio-aids, published in the aeronautical navigation charts, The main activities conducted in 2009 are indicated below by programmes: 242 Annual report 2009

48 General information Air navigation Programme of substitution, installation and removal of AN radio-aids ILS/DME (Instrument Landing System / Distance Measurement Equipment) The ILS provides aircraft with guidance information so that pilots, without external visual references, can reach a point of the descent path situated at a height called decision height, Once this height has been reached and only if pilots have established visual references with the runway, they will continue the descent and proceed to land. Activities: Substitution of the ILS of Saragossa Airport, runway 30R. Relocation of the LOC subsystem of Pamplona Airport due to the runway extension. Relocation of the GP-DME subsystem of runway 20 at Gerona Airport, because the threshold was set back to adapt the ILS system for category III operations. VOR-DME (VHF Omnidirectional Range-Distance Measurement Equipment) The VOR equipment supplies guidance information about the radius in which the receiver is located with respect to a direction of reference that is generally the magnetic north of the VOR station, The DME equipment provides aircraft with continuous and precise indications of the oblique distance between it and the ground-based station. Activities: Installation of a DVOR/DME in Cuesta de la Reina (Malaga) to substitute for the existing VOR-DME. Installation of the new DVOR-DME LTE in Lanzarote. NDB (Non Directional Beacon) This device permits pilots to select a heading and follow it, both en-route and during non-precision approaches or instrumental departures. Activities: Substitution for the NDB of Pamplona PP. Relocation of the NDB of Vigo VI. Programme to conduct studies of radioelectric servitudes and simulation The main tasks carried out within this programme are 289 studies of simulation and radioelectric servitudes, Of these, 281 resulted from requests by the DGAC and/ or the DPI and the rest (8) were internal requirements of the DNV or requests made directly to the division basically related to the critical or sensitive areas of the ILS systems. 2, SURVEILLANCE Surveillance is defined as the technique of the timely detection of targets, the determination of their position and the delivery of this information to users to support the safe separation and control of targets within a defined area of interest, The main activities carried out during 2009 were: Radar Surveillance New MSSR station between the parallel runways of Madrid-Barajas Airport. Provisional MSSR in Valencia. Updating the Valencia radar station (PSR+ MSSR). Surface Surveillance Completion of the installation of the mode S multilateration system for Tenerife-Norte Airport. Annual report

49 General information Air navigation Completion of the installation of the SMR of Barcelona. Updating Tenerife Norte Airport SMR. Adjustment of the Barajas SMR and replacement of the SMR antennae at the south TWR. Tests in the Mode S Multilateration system of Madrid-Barajas Airport, for its verification. Other surveillance activities Disconnection and dismantling of old PSR and MS- SR radars in Valencia. Drawing up monthly reports on the state of Aena s radar surveillance network. Development of tools for evaluating the surface surveillance systems. 2,7,3 COMMUNICATIONS The Air Navigation Communications Division is in charge of designing, planning and implementing the communications networks, which transfer to the control towers and centres the information from radars, communications centres, radio-aids and other complementary systems which is necessary for the navigation of aircraft. The main activities carried out in 2009 are enumerated below: Ground-Air Stations A new transmitter centre began to operate at Malaga Airport, in addition to the new Control Tower at Murcia-San Javier Airport and new communications centre at Randa (Palma de Mallorca), New frequencies were opened at the ground/air communications centres of Barcelona Airport, Ground/air communications equipment was also installed in the control towers of Burgos, Vitoria and the provisional tower in Cordoba, Moreover, the validation and launching of ground/air communications took place at Ciudad Real Airport and the ground/air communications system of Lleida Airport was tested. Control Tower Equipment Voice communications systems (VCS) and recording systems were installed in the control towers of the airports in Murcia-San Javier, Cordoba (provisional), Barcelona (provisional), Burgos and Vitoria, and the last-resort radio system of the Malaga APP, and the new VCS control positions of the South Tower of Madrid-Barajas Airport began to operate. By changing the version of the CD30 communications system, the north, south and west towers of Madrid-Barajas, the East Tower of Barcelona and APP Malaga were updated, The version of the SDC-2000 communications system of the Tower of Palma de Mallorca was also changed. Ground-Ground Links Launching of a ground/ground fibre-optics communications system and radio links between Madrid-Barajas Airport and the Madrid (Torrejon) Control Centre Launching of a ground/ground fibre-optics communications system at Murcia-San Javier Airport REDAN (AIR NAVIGATION DATA NETWORK) A network that integrates voice and data communications providing coverage at all airports, air traffic control centres and, in general, sites that are sources or destinations of information related to air navigation, which enables connecting to other networks of the international aeronautics field. 244 Annual report 2009

50 General information Air navigation Activities: New stations of the air navigation data communications system (REDAN) were incorporated, including Leon, Jerez, South Tower of Madrid-Barajas, Tower of Valencia and Tower of Murcia-San Javier, Similarly, the Valencia radar, Malaga 2 and the bypass radar system were integrated. Aeronautical Services Launching of Atis system at Jerez and Gerona airports Tx-Rx equipment at Menorca Airport for the transmission of Atis to substitute for the current transmission through the audio channel of the Menorca VOR. Revision and execution of improvement in 12 Atis systems (Amendment 74 Annex 3 ICAO) 2,7,4 CNS/ATM SIMULATION 1, Simulation Area Airport System Madrid-Barajas Airport and Madrid-Campo Real (NSAM) Airport Definition of scenarios of future operation and assessment of viability and benefits of the coexistence of both airports. Madrid-Barajas Airport Simulation study to assess the viability of Madrid-Barajas as an airport hub. Analysis of the lateral deviation, caused by wind or navigation, in the south configuration in current departures. Analysis of safety for independent operations in north configuration. Analysis of the visibility from the control towers of Madrid-Barajas. Ibiza Airport Simulation study for the analysis of possible radar approaches to Ibiza. Alicante Airport Study of the options for the airport s movement area to support the projects for the new runway to run parallel to the current one, the taxiway links between the runways, new terminal areas and location of the tower. Santiago Airport Analysis of the impact that the new location of the Terminal Building has on visibility from the tower. Malaga Airport Simulation of taxiway with the airport s projected operations. Air Navigation SACTA TWR CF 2 A project was initiated to evaluate the new versions of SACTA in route positions, control tower and TMA by estimating the impact that the changes and new functions of each version will entail in the controller s workload. FREQUENCY OF OCCUPANCY Study of the statistical frequency of occupation of sectors of the Spanish airspace and the control towers to analyze operational safety. 2, R&D&I AREA E-TLM Within the TMS (Traffic Management System) project Eurocontrol aims to launch an ATC (Air Traffic Control) workload monitor to support the supervisory positions Annual report

51 General information Air navigation of the Eurocontrol MUAC (Maastricht) centre, To this end, the Aena components ETLM, WAC and MWM are being employed, Aena undertakes this R&D project in consortium with Indra and ISA software. ATMAN (ATC Human Workload Model) The mission of the ATMAN project is to minimize the risk of jeopardizing the health of air controllers, so it is necessary to define a simultaneous maximum workload parameter at the different tower, approach and en-route work-stations, Therefore, during 2009, in collaboration with CRIDA, the high level requirements of the application, algorithms, and means of calibration were determined to enable defining the workload model. Other Projects In addition to those mentioned above, participation in other EU and Eurocontrol research and development projects continued, among which those of particular note are: SESAR, Emma2, SpadeE2, Reset and Atmap, whereas the Caats2 project was completed in , AREA OF DEVELOPMENT OF SIMULATION IN- FRASTRUCTURE INTERNAL DEVELOPMENT PROJECTS This is an online application that provides services of projected and real operational information (sector load, delays, regulations, etcetera) for airports and sectors of the Spanish airspace, In the year 2009 a new version was developed that includes new functions such as the generation of automatic reports, comparisons of the organization of the airspace, with historical reports and projections, the exportation of data to other applications (Excel, Adobe Reader) and the geographic visualization of sectors and configurations. TRP (TAAM-RAMS Processor) A simulation data processor that enables translating ATC events from simulators to the workload calculator MWM (Multi-Workload Model), also introducing logical rules, In 2009 the internal development of TRP-java continued. MWM (Multi-Workload Model) A software application that simulates ATC tasks and workloads by using the Wickens model of interference of cognitive channels, In 2009 the MWM tool was developed for the purpose of unifying the existing versions and criteria. EXTERNAL DEVELOPMENT PROJECTS PITOT An integrated platform for processing, operating and analyzing simulation data, During 2009 it was granted greater stability and its capacity to manage multiple iterations and instances of the simulation-analysis was increased. SIMCO This project develops modules for monitoring and optimizing the calculation of simulation parameters and variables, In 2009 the following phases were carried out: Improvement of the Trafgen functions: generator of traffic that enables analyzing and generating traffic for SNA analysis and simulation studies. Development of OP-DIS (prototype of dynamic sectorization) and OP-MON phase II (prototypes for monitoring workloads). MAPPING Set of graphics libraries with development of modules of representation of geo-referenced information of the Trafgen, TRP, MWM and Perseo applications, In 2009 the following phases were carried out: Analysis, design and development of HMI modules of Trafgen and TRP. 246 Annual report 2009

52 General information Air navigation Analysis and design of Perseo. Report of MWM evolution and achievement of objectives of knowledge transference. Maintenance and support of development. MASDATA: Optimization of the interpretation, handling and use of output data for advanced models of en-route, TMA and airport air traffic simulation, In 2009 the lines of research were continued and expanded through a second phase of the project called Masdata 2, The activities of algorithmic debugging were carried out. MIDAS Model of simulating human factors of air traffic control capable of acting on what other simulators do in accelerated time, The objective of the project is to connect Midas and RAMS through Pitot5, In 2009 the following phases were executed: Modules and tests to support hybrid simulation. Interconnection of RAMS-Midas through Pitot. VOICE Voice recognition system applied to the calculation of simulation parameters, The result of the project from 2005 was materialized in a first technological prototype, In 2009 the original prototype was used as a basis for developing a functional prototype. AGENT State-of-the-art ATM accelerated time simulation tool (based on agent software architecture), extremely adaptable to any present or future ATM concept, During 2009 the Air Top multi-platform licences were acquired. 2,7,5 SATELLITE NAVIGATION Aena s activities in this field focus on the implementation of the GNSS system in the Spanish airspace, employing it in the different phases of flight, Therefore, it is projected that the basic constellations such as GPS and the future Galileo, in addition to GBAS and Egnos augmentations will all be used under the premise of compliance with the requirements reflected in Annex 10 of the ICAO and the implementation plans that are being developed on the European scale. 1, EGNOS (European Geostationary Navigation Overlay Service) The most significant events during 2009 were: Signing the EGNOS Agreement The signing of this agreement by Aena, the rest of the EOIG partners and the European Commission (EC) meant that, as of April 1st 2009, the latter became the owner of and accountable for the management and operation of the Egnos system in the European Community. Contracts of the ESSP (European Satellite Services Provider) SAS with the European Commission: Egnos Signal Continuity Provision Contract, also known as Plan B, which lasts for 6 months, went into effect on April 1st 2009, The importance of this lies in the demonstration that ESSP SAS was capable of honouring this contract in due time and form to satisfy the client (EC), thus establishing the confidence needed to close the negotiations of the Egnos Service Provision contract. Egnos Service Provision Contract, known as Plan A, lasts for 51 months, It went into effect on October 1st 2009 and it ends in 2013, It projects the certification of the company ESSP SAS as Egnos service provider in accordance with the Single European Sky regulations and the Egnos Safety of Life (SOL) service statement. Annual report

53 General information Air navigation Service Provision Unit (SPU) of the ESSP SAS This has been officially established since April 1st 2009, Though the ESSP SAS has actually been a legal body since September of 2008, the physical establishment of its units and hiring of most of the personnel took place in the year , GBAS (Ground Based Augmentation Systems) PROGRAMME Over the course of 2009 the following proceedings were completed: Service for the development of an SW tool for analyzing GBAS coverage a tool that will facilitate choosing the best site for a GBAS station in an airport in compliance with the international regulations. GBAS programme at Malaga Airport: The following plans were fulfilled: Technical assistance for conducting operational implementation of GBAS in SNA which provided the support necessary for preparing the implementation of GBAS operations in the Spanish Air Navigation System (SNA), specifically at Malaga Airport. Replacement of HW elements for GBAS CAT-I certification at Malaga Airport, which consisted in updating Malaga Airport s GBAS CAT I facility. The following plan was projected and contracted out: Supply of a portable GBAS monitoring station in operational state, This new system will serve as support for the operational implementation of Malaga s GBAS CAT I station by analyzing the performance and conducting the required periodical inspections of the ground-based system and, in future, analyzing the forthcoming GBAS sites in other airports in Spain. During the year 2009 work was carried out on the following projects of the Seventh Framework Programme of the GJU (now GSA General Services Administration), of the European Commission, the SJU, ICAO (International Civil Aviation Organization) and the ESA (European Space Agency): GIANT2 (EGNOS ADOPTION IN THE AVIATION SECTOR) Project included in the Galileo activities of the Seventh Framework Programme of the European Commission, whose mission is to support the introduction of Egnos in the civil aviation sector, embracing other segments such as corporate aviation, general aviation and rescue helicopters. IOP The Egnos unit was hired to perform the initial Egnos operations of the elements installed in Spain (MCC, ASQF and NLES at Torrejon and 5 RIMS installed in the airports of Gran Canaria, Malaga, Palma de Mallorca, La Palma and Santiago). EDAS A contract was signed with GSA for the provision of Egnos data to authorized clients through the Edas application, Similarly, Aena provides a help desk service to registered and non-registered Edas users, for the purpose of facilitating the initial installation of the application and resolving any doubts or anomalies that may arise during the provision of data. CELESTE CCN A project carried out by a consortium led by Aena as main contractor, and whose other members are: Alcatel Alenia, GMV, Atech (Brazil), Indra SI (Argentina), Ineco DB (Brazil), Hispamar (Brazil), Telespazio Argentina and BCI (Panama), Its main objectives are: 248 Annual report 2009

54 General information Air navigation Introduction to the Galileo services and their development from a multi-modal perspective with regard to selected markets Carrying out multi-modal demonstrations with Galileo and assessment of its operational advantages, The setting of the demonstrations will be the area between Mar del Plata and Rio de Janeiro. 2,7,6 SYSTEMS VERIFICATION Safety For the purpose of coordinating the safety activities and ensuring that these are carried out in a homogenous and coherent manner in all the operational divisions, the Division of Systems Verification conducted the following activities in 2009: Planning, coordination and uniformity of the safety activities with the operational divisions (Communications, Navigation and Surveillance, Automation). Production of guidance material for use by the Divisions of the Directorate of CNS/ATM Systems, notably that produced for assigning a level of guarantee to the system software (SWAL) during the process of risk analysis and mitigation of a CNS/ATM system. Conducting an overall analysis of safety, with regard to the service provided by the Directorate of CNS/ATM Systems. Supervision and collaboration on safety studies, Twenty of the safety studies conducted by the different CNSA divisions were supervised, Similarly, support was provided for all the phases of the safety study conducted for opening Lleida Airport. VERIFICATION During 2009, once the systems verification procedure at the DNA (DIET-07-PGR-022-1,0) was approved, its implementation in the different divisions and systems was continued, The implementation strategy was carried out gradually, defining verification plans by system, beginning with those projected to enter into service in 2009, and subsequently preparing the EC verification statement and the associated technical file. 2,8 INTERNATIONAL ARENA Among the objectives of Air Navigation is that of reinforcing its standing in the international arena, To this end, actions were undertaken throughout 2009 in the following fields: PENS: For the purpose of offering a joint European network of air navigation services and information exchange between stakeholders, based on IP protocols, the PENS (Pan-European Network Services) project was launched on October 28th 2009, as Aena and its Swedish and Norwegian equivalents officially became Eurocontrol users, Likewise, ENAV, LPS, NATS, and NAV Portugal signed a letter of intent with the commitment to join soon, At the same session, as ECTL had committed, Redan was formally subcontracted by Sita as a PENS solution to service provision in Spain, Aena therefore became the first service provider in Europe to reach this status, It is anticipated that, following in Aena s footsteps, other national ANSP networks will join in the coming months. To foster international institutional relations, high level bilateral meetings were held with Onda, Navair and the General Manager of Eurocontrol. Annual report

55 General information Air navigation Strategic Planning Management coordinates the participation of AN in regional projects (AEFMP, ICAO), Therefore, the secretariat of the technical group was formed, the contribution and participation of the WG was coordinated, and the meeting with the committee director was prepared and held. The high level EC3, CECM and other Canso group meetings were prepared and attended in coordination with the different AN units, which were considerably influential given the significant level of acceptance of Aena s proposals. Aena s Air Navigation office was set up in Brussels. From March 17th to 19th 2009, the annual ATC Global Exhibition took place in the Dutch city of Amsterdam, Aena participated with a 108m² exhibit attended by personnel specialized in the different systems that were presented, ACC AEFMP Aenor Aesa AFUA AGEN AIS ANSMS ANSP ATC ATM ATMAN Bypas Radar CE CED Celeste CCN DGAC DNA Edas EGNOS EMS ESA ESSP FAB FABS LISTADO DE ACRÓNIMOS Area Control Centre, Agreement between Algeria, Spain, France, Morocco and Portugal, Spanish Association for Standardization and Certification, State Agency for Air Safety, Advanced Flexible Use of Airspace State-of-the-art ATM tool for accelerated time simulation (based on agent software architecture), Aeronautical Information Service, Air Navigation Safety Managment System, Air Navigation Service Providers, Air Traffic Centre, Air Traffic Management, ATC Human Workload Model Radar fallback system, European Commission, Centre for Air Navigation Experimentation and Development, Project carried out by a consortium led by Aena as main contractor, and whose other members are: Alcatel Alenia, GMV, Atech (Brazil), Indra SI (Argentina), Ineco DB (Brasil), Hispamar (Brazil), Telespazio Argentina and BCI (Panama), General Directorate of Civil Aviation, Directorate of Air Navigation (Aena), Contract signed with GSA for the provision of Egnos data, European Geostationary Navigation Overlay Service, Environmental Management System, European Space Agency, European Satellite Services Provider, Functional Airspace Block Portugal-Spain, Functional Airspace Blocks Portugal-Spain, 250 Annual report 2009

56 General information Air navigation G/A G/G GBAS GIANT2 GSA HUB ICAO International Civil Aviation Organization, IGN ILS-DME INGENA MAPPING MASDATA MIdas MUAC MWM MWM Software application that simulates ATC tasks and workload, NDB OP-DIS Dynamic sectorization prototype, OP-MON Opengis PENS PERSEO PIR PITOT QMS R&D&I Redan SACTA SAFETY Operational safety, SES Sesar SIMCO SJU SMR SMS SNA SW-FAB TACC LISTADO DE ACRÓNIMOS Ground/air communications, Ground/ground communications, Ground Based Augmentation Systems, Egnos Adoption in the Aviation Sector, General Services Administration, Transfer centre, Geographic database, National Geographic Institute, Instrument Landing System - Distance Measurement Equipment, Geographic database, Set of graphics libraries with development of modules of representations, Optimization of the interpretation, handling and use of the output data, Model of simulation of human factors of air traffic control capable of acting on what other simulators do in accelerated time, Maastricht Upper Area Control Centre, Multi-Workload Model, Geographic information system, Non-Directional Beacon, Pan-European Network Services, Phase 2 prototypes for monitoring workload for advanced models of simulation of enroute, TMA and airport air traffic, Geographic information system, Pan-European Network Services, Online application that provides a service of information on projected and real operations (sector load, delays, regulations, etcetera) for airports and sectors of the Spanish airspace, Project Initiation Reports, Integral platform for processing, use and analysis of simulation data, Quality Managment System, Resdarch & Development & Innovation, Air Navigation Data Network, Automated Air Traffic Control System, Sistema de gestión de calidad, Single European Sky, Single European Sky ATM Research, Project to develop modules for monitoring and optimizing calculations of parameters and variables of simulation, Sesar Joint Undertaking, Surface Movement Radar, Safety Management System, Air Navigation System, Functional Airspace Block Southwest Europe, Terminal Area Control Centre, Annual report

57 General information Air navigation TMS Trafgen TRP TWR VCS Voice communications system, Voice VOR-DME WG WG LISTADO DE ACRÓNIMOS Traffic Management System, Generator of traffic that enables analyzing and generating traffic for SNA assessment and simulation studies, TAAM-RAMS PROCESSOR- Processor of simulation data that enables translating ATC events from simulators to workload calculator MWM (Multi-Workload Model), Control Tower, TAAM-RAMS Processor- Procesador de datos de simulación que permite traducir eventos ATC provenientes de simuladores al calculador de carga de trabajo MWM (Multi-Workload Model), Voice recognition system applied to the calculation of simulation parameters, (VHF Omnidirectional Range - Distance Measurement Equipment), Work Group, Grupo de trabajo, AIR MOVEMENTS BY REGIONAL DIRECTORATES OF AIR NAVIATION Central 922, ,768 1,038,625 1,135,146 1,134,465 1,042,793 Eastern 792, , , , , ,757 Canarian 293, , , , , ,495 Sevillian 363, , , , , ,868 Balearic 244, , , , , ,651 MOVEMENTS BY REGION FIR Spain 1,711,285 1,806,619 1,924,251 2,090,753 2,065,413 1,879,810 FIR Peninsula 1,586,801 1,676,539 1,783,168 1,949,578 1,925,178 1,756,942 FIR/ACC Canary Island 293, , , , , ,495 ACC Madrid 922, ,768 1,038,625 1,135,146 1,134,465 1,042,793 ACC Barcelona 792, , , , , ,757 ACC Seville 363, , , , , ,868 ACC Palma 244, , , , , ,651 TOTAL FLIGHTS OF THE REGIONAL DIRECTORATES OF AIR NAVIGATION 2,150,000 2,100,000 2,050,000 2,000,000 1,950,000 2,090,753 2,065,413 1,900,000 1,850,000 1,879,810 1,800,000 1,750, Annual report 2009

58 General information Commercial Space and Services Commercial Space and Services COMMERCIAL ACTIVITY The Directorate of Commercial Space and Services has a double mission to optimize the contribution of sales revenues in Aena s overall profit and loss statement, and simultaneously meet passengers needs and demands in terms of quality, Greater generation of business resources is a means of financing the investments foreseen by Aena, always in terms of efficiency and efficacy, by improving the profitability of the airport business in order to maintain the competitiveness of aeronautical fees. Aena s sales revenues in 2009 amounted to 572,23 million euros (-5,7% in comparison to the previous year, basically because of the overall effect of the ongoing economic recession and the fall in passenger traffic), The ratio of sales revenue per passenger was 3,08 euros, which represented a 2,52% increase over the previous year. The main business lines at our airports, which contribute to accomplishing the double mission mentioned above, are: car parks, shops and duty-free shops, car hire, food outlets, managing land (rentals), advertising, fuel and business operations. Our array of retail concessionaires comprises more than one hundred shops, including prestigious local and international companies and brands, such as Aldeasa, Canariensis, Áreas, Dufry, Relay (SGEL), Zara, Mango, Mássimo Dutti, Becara, Adolfo Domínguez, Desigual, Ferrari, Puma, Carolina Herrera, Rolex, Chocolat Factory, Picuadro, Imaginarium and Tous, among others, In accordance with the market studies conducted, we are introducing local brands and products, as a reflection of the community the airport serves, as is the case of the shop specialized in gifts and crafts in the T1 of Barcelona Airport, Thinking Barcelona, whose design evokes the architecture of the illustrious world-class architect Gaudí, and won the Best specialized concept of the year award granted by the Travel Retail industry. «Aena brought in 572 million euros in retail revenues,» As for dining, there are international operators such as Áreas, SSP, Grupo VIPS, Autogrill, McDonald s, Pansfood, etcetera, with standards on our premises in the airport such as McDonald s, Burger King, Starbucks, Lizarrán, Subway, Häagen Dazs, Caffriccio, Ritazza, among others, At the Madrid-Barajas and Barcelona airports there is a noteworthy presence of two spaces whose chefs have been awarded Michelin stars at the restaurants El Madroño and El Gaig, respectively, This type of service will become increasingly consolidated in the years to come, as a result of our banking on improving the quality of our offerings. The car hire service is provided by diverse operators that are also international, most notably Avis, Hertz, Europcar, and National Atesa, The advertising activity is currently mainly allocated to the companies JC Decaux and Publimedia. In addition to meeting the demands of passengers, the airport retail business is designed for the entire airport population, including employees and companions, For this reason the products and services on offer cover a broader and more varied range (supermarkets, beauty centres, petrol stations and so on). With regard to the development of retail facilities a number of significant actions have been taken: New Terminal 1 of Barcelona Airport began operating in June 2009, Approximately 26,000 m 2 of new retail floor space was opened: 8,427 m 2 for Annual report

59 General information Commercial Space and Services food outlets, 6,459 m 2 for shops, 1,992 m 2 for dutyfree shops, 6,605 m2 for VIP lounges, 2,583 m 2 for the Business Centre, 5 car hire outlets and a VIP car park. The retail revenue ratio was 3 euros per passenger Remodelling of the shopping area of Fuerteventura Airport in April 2009: 11 new establishments in 2,000 m 2 of new retail space. Remodelling of the shopping area (1st phase) of Ibiza Airport in May 2009: 8 new establishments in nearly 1,000 m 2 of newly remodelled retail space. The construction work at Malaga Airport, for opening the New Passenger Terminal Building (T3), will provide it with a retail space with a potential for housing 29 shops in an area amounting to 5,255 m 2, and 21 food outlets in an area of 5,234 m 2. The processes and procedures of controlling sales revenues carried out by the airport managers have been redefined, This will enable improving the control and monitoring of commercial activity. Several noteworthy promotional activities related to our brand Las Tiendas del Aeropuerto were carried out to support its management at the airports where it is established and as a means to encourage buying in our retail spaces, These projects, endeavoured in close collaboration with our retail concessionaires, include Book Week, Green Bags (Barcelona, Menorca, Saragossa and Tenerife Sur airports) and Christmas Campaign (at eleven airports: the seven wherein the brand is established and also at the airports of Malaga, Alicante, Gran Canaria and Ibiza), In addition, and for the first time, an interesting direct discount campaign was undertaken at eight airports through an action called Two free Euros. In the sphere of marketing land, the demand has been identified and the marketable terrains of the airports have been inventoried, a key aspect for success in marketing them in the best and most efficient way. As far as business know-how is concerned, training actions were offered throughout 2009 for different groups within the organization that belong to other key functional areas, and whose collaboration is relevant for the optimization of sales revenues, DISTRIBUCIÓN DE INGRESOS COMERCIALES POR LÍNEAS DE NEGOCIO El conjunto de la actividad comercial agrupada por líneas de negocio, ordenadas según el peso relativo sobre el total de ingresos comerciales, se ha repartido de la siguiente manera en 2009: LÍNEAS DE NEGOCIO Variación 2009/2008 % sobre el total de ingresos comerciales Aparcamiento de vehículos -15,72% 18,46% Tiendas libres de impuestos -15,91% 17,18% Alquiler de vehículos 13,36% 16,89% Explotaciones comerciales 2,6% 16,5% Restauración 0,11% 11,87% Arrendamientos -3,97% 7,72% Publicidad -27,28% 4,28% Combustibles -2,69% 4,26% Consumos 7,94% 2,77% Salas 100% 0,05% Otros -48,71% 0,01% 254 Annual report 2009

60 General information International Development International Development AENA INTERNACIONAL DESARROLLO S,A Aena Internacional conducts its activity as a leading Spanish company in the management of aeronautical facilities for a total of 28 airports, located throughout Latin America (Mexico, Colombia, Cuba and Bolivia), the European Union (the United Kingdom and Sweden) and the United States. With a diversity of forms of ownership in its subsidiaries, from the concession of airport facilities or contracts for the management of terminals or services, to the ownership of assets, the common denominator of Aena Internacional s contribution is the transfer of knowledge as a generator of value through the direct involvement of its executive officers in management and by providing quality technical aeronautical assistance services. The latter, whether as an operating partner in some cases, or a mere service provider in others, are materialized through projects in which the primary values are safety, efficiency and respect for the environment, the pillars upholding our management, which is recognized and highly esteemed by our partners, customers and related institutions. In 2009, as a consequence of the global financial crisis and its repercussions in the transport industry, the level of activity of Aena Internacional subsidiaries was lower than that of 2008 because of the decline in passengers recorded mainly in Mexico and in the entirety of airports that make up TBI, Nevertheless, Aena Internacional was able to conclude the year with a good performance yield, especially owing to the implementation of efficient cost control strategies and prudent investment in its subsidiaries. Worthy of note in the aeronautical services area is the consolidation of the Galileo project office and full operation of the in-flight verification unit that has satisfactorily rendered the services of verifying the radio-aids of the Aena network throughout the year. «The airports of Grupo Aeroportuario del Pacífico have certificates for accessibility, environmental compliance and quality,» Lastly, the renewal of the ISO certification for the activities we conduct is an endorsement of our efforts for continual improvement and, for our customers, it is a guarantee of our commitment to quality. AIRPORT SERVICES Mexico Grupo Aeroportuario del Pacífico Grupo Aeroportuario del Pacífico (GAP) comprises 12 airports located in the Pacific region of Mexico, notably those serving major cities such as Guadalajara and Tijuana and those situated in four of Mexico s most popular tourist destinations: Puerto Vallarta, Los Cabos, La Paz and Manzanillo, The other six airports serve cities such as Hermosillo, Bajio, Morelia, Aguascalientes, Mexicali and Los Mochis. The airports are located in 9 of Mexico s 32 states, Five of them largely cater to the capitals of these states, covering a territory extending over 566,000

61 General information International Development square kilometres, with a population of approximately 26 million inhabitants, All the airports are designated as international and six of them are among Mexico s top ten. The GAP airports have ISO 9001:2000 accessibility, environmental compliance and quality certificates. Aena Internacional s 17,3% share of capital, and technical assistance contract, as an operating partner, is carried out through the company Aeropuertos Mexicanos del Pacífico (AMP), which in turn is GAP s strategic partner. GAP is listed on the Mexican and New York stock exchanges and it is the largest private airport group in America. Airport Activity The group s activity in 2009 involved a total of 19,2 million passengers, which represents a 13,3% decline with respect to This slowdown in airport activity in 2009 was primarily a consequence of the difficult worldwide economic scenario, which had especially significant ramifications within the industry in Mexico and the United States (its main market abroad), the reorganization of the low-cost market and the definitive closure of several airlines. «The Mexican authorities approval of the Master Plan provides a stable framework for management,» Operational activity decreased by 12,92%, in line with the drop in traffic, totalling 405,007 operations. As regards air cargo, which reached a total figure of 126,278 tons, the recession of the economy of the United States was also felt since it is Mexico s principal market. The main actions were related to the execution of the corresponding master plans for development, and additional investment plans, making for an investment of more than 420 million Mexican pesos in projects including the construction of private aviation terminals in Guadalajara and San Jose del Cabo. It is also important to highlight the accomplishment of attaining the approval of the Mexican authorities of the Master Plan (drawn up by Aena for the 12 airports of the group) and the associated investments and fee regulation, which secures a stable framework for management over the next five years. Colombia Cartagena de Indias Airport Aena Internacional is operating partner and shareholder with a 38% stake in the company that manages Cartagena de Indias Airport, Sociedad Aeroportuaria de la Costa (Sacsa). «The In-flight Verification Unit performed 151 calibrations in 2009,» The management undertaken during 2009 has led to a 7,3% growth in international passenger traffic, compared to 2008, as a result of the implementation of a wise marketing policy in seeking new routes and new operators; and a 19,42% growth in domestic traffic, basically brought about by the appearance of low-cost airlines. 256 Annual report 2009

62 General information International Development Barranquilla Airport Aena Internacional is operating partner and shareholder with a 40% stake in the management company Aeropuerto de Barranquilla, Aeropuertos del Caribe S,A, (Acsa). Passenger traffic in 2009 grew by 8,34% boosted by the 14,8% increase in domestic traffic following the introduction of low-cost airlines. The increase in domestic traffic attenuated the decrease in international traffic resulting from the worldwide financial crisis, Nonetheless, as of the second quarter of 2009 signs of recovery could be observed in the establishment of new international routes. Cali Airport The management of Cali Airport is carried out through the company Aerocali, S,A,, in which Aena Internacional has a 33% holding. The year 2009 ended with significant increases in traffic, both that of domestic passengers, with a 12,7% increase, and that of international passengers, which rose by 3,36%. The efforts made to improve business income, in addition to the sensible measures taken to curb costs, notably improved the year s results. TBI Through its 10% holding in Airport Concessions & Development Limited (ACDL), Aena Internacional owns TBI plc,, a British company that, through ownership or concession, operates the airports of Luton, Belfast and Cardiff in the United Kingdom; Orlando Sanford in the U,S,A,; La Paz, Santa Cruz and Cochabamba in Bolivia, and Skavsta in Sweden, TBI also has different operating and management contracts at airports in the United States (Atlanta, Burbank and Macon). The impact of the worldwide financial crisis has resulted in a 7,7% decrease in passenger traffic, mainly caused by the sharp decline in passengers at the airports of the United Kingdom, However, the strategy of curbing costs and investments has served to mitigate the impact in the year-end result. Cuba In 2009 Aena Internacional signed a new contract with Empresa Cubana de Aeropuertos y Servicios Aeronáuticos for consulting and training for the operation of Ecasa airports. With this new contract the business relations with Ecasa (the Cuban airports administrator and operator) are continued and expanded. AERONAUTICAL SERVICES In-flight verification unit This year the activity conducted by Aena Internacional s In-flight Verification Unit (UVV) was firmly established. The UVV reached its maximum performance, carrying out periodic, special and entry into service verifications of all types of radio-aids and manoeuvres including those affecting high density TMA, such as Madrid and Barcelona. All told, there were 622 hours of flight, during which 151 calibrations were performed. Galileo In 2008 Aena Internacional was designated by its parent company Aena to create the Galileo Unit in charge of developing the future Galileo Control Centre and the future Safety of Life Centre in Spain. Annual report

63 General information International Development During the year 2009 the Galileo Unit was established and the Ministry of Public Works and Transport continued to be supported in its aim to achieve the foundation in Spain of the two fundamental Galileo facilities, the third Galileo Control Centre and the Safety of Life Centre, which allow maximizing Spain s presence in the Galileo project in the long term, COMPANY STAKES HELD BY AENA INTERNATIONAL 33,33% 10% 16,67% ACDL Other 100% 17,3% ECASA Guadalajara Tijuana Puerto Vallarta San José del Cabo Hermosillo Bajío Morelia La Paz Mexicali Aguas Calientes Manzanillo Los Mochis London-Luton Cardiff Belfast Stockholm-Skavsta La Paz Cochabamba Santa Cruz Cayo Coco 40% 37,89% 33,34% Orlando-Sanford Raleigh-Durham Macon Atlanta Burbank Barranquilla Cartagena de Indias Cali 258 Annual report 2009

64

65 In 2009 Aena airports handled over 187 million passengers

66 Annual report Legal information

67 Legal information Management Report Management Report Public company Aeropuertos Españoles y Navegación Aérea and subsidiaries 1. FINANCIAL RESULTS 1.1. CONSOLIDATED PROFIT/LOSS Operating income in 2009, at more than 3,098 million euros, decreased by only 4% with respect to 2008 despite a decline in passenger traffic and operations of more than 8% from 2008, mirroring the sharp downturn in air traffic worldwide. The largest contributions to consolidated operating income came from the parent company Aena, (96%), and the company Ingeniería y Economía del Transporte S.A. (Ineco), which contributed 3%, in keeping with previous financial years. Although operating costs grew at a rate of less than 6%, due to the fall in traffic and to high operating leverage, operating income fell. Financial loss was reduced by 20% in 2009, to million euros, owing to decreased financial costs derived from borrowing to make the investments projected in the investment plan for the financial year. Once the positive effect of income tax is accounted for, the consolidated profit/loss for the financial year attributed to the parent company amounts to a loss of million euros FINANCIAL AND ECONOMIC RATIOS The Aena Group s main economic and financial ratios are shown below: RATIOS SOLVENCY RATIOS Long-term indebtedness: long-term debt / equity PROFITABILITY RATIOS EBITDA margin 18.74% 25.46% Operating margin: operating income / sales -7.46% 3.54% Economic profitability: operating profit / total assets -1.28% 0.67% 262 Annual report 2009

68 Legal information Management Report 2. BUSINESS TRENDS 2.1. AIRPORT BUSINESS In 2009, Aena s Spanish airports recorded more than million passengers (8.0% less than in 2008) and they operated more than 2.1 million flights (10.4% less). Nearly 570,000 tonnes of freight were transported (11.4% less). In 2009 the network s overall international passenger traffic decreased, as total throughput fell by 8.2%. Nonetheless, there was significant growth at the airports of Leon (1,280.7%), Salamanca (866.8%), Burgos (242.7%), Asturias (25.85%), Reus (7.3%), Tenerife Norte (5.8%) and Corunna (4.5%). As of July 2009 a month by month recovery in passenger traffic could be observed at different airports, including Alicante, which was followed by Madrid-Barajas, Barcelona, Malaga, Tenerife Norte, Valencia and Lanzarote. While these figures reflect a decrease in passengers, operations and cargo as compared with 2008, in step with the sharp slowdown in air traffic worldwide, Aena continues to be the largest airport operator in the world in terms of passenger numbers PASSENGERS A total of million passengers used the Aena network facilities in 2009, which represents an 8.0% decrease since Of all these passengers, more than 186 million flew on commercial flights (-7.9%). Among them, around 110 million used international flights (-8.2%) and 75.5 million travelled on domestic flights (-7.8%). Among the foremost airports in terms of passenger traffic, Madrid-Barajas is still the network s largest, with 48.4 million passengers, which entails a 4.7% decrease from It is followed by Barcelona, with 27.4 million (-9.4%); Palma de Mallorca, with 21.2 million (-7.1%); Malaga, with 11.6 million (-9.3%); Gran Canaria, with 9.1 million (-10.3%); and Alicante, with 9.1 million (-4.6%). The airports with the largest growth percentages are those of Burgos, with a 112.6% increase, Reus with 33.5%, Santander with 11.9% and Santiago with 1.4% AIRCRAFT Aena airports performed a total of 2.1 million operations in 2009, which entails a 10.4% decrease in the number of operations from Of all these movements, 1.8 million pertain to commercial flights (-11.4%), of which 943,991 were domestic (-12.2%) and 880,291 were international (-10.5%). As regards types of flights, more than 1.6 million were scheduled flights (-9.4%) and around 182,000 were charter flights (-22.7%). Madrid-Barajas Airport continued to be the network s largest in terms of traffic, with more than 435,000 flights (-7.4%), followed by Barcelona, with close to 279,000 operations (-13.3%); Palma de Mallorca, with 177,000 (-8.2%); Malaga, with more than 103,000 (-13.6%); Gran Canaria, with 101,000 flights (-12.6%); Valencia, with 81,000 (-16.2%); Alicante, with 74,000 (-8.4%); Tenerife Norte, with nearly 63,000 (-7,4%); and Seville, with almost 56,000 (-14,6%). The airports with the most outstanding percentage growth in operations were those of Reus, which recorded a 16% increase (nearly 31,000 operations), followed by Huesca-Pyrenees, 10.4% (more than 21,000), Madrid-Cuatro Vientos, 4.2% (more than 54,000) and Salamanca, 3.1% (nearly 13,000). Annual report

69 Legal information Management Report As regards the number of international operations, some airports experienced significant growth, namely those of Asturias (34.5%), Tenerife Norte (25.9%) and Reus (12.1%). Most of these operations either originated in or were destined to a European airport CARGO Nearly 565,000 tonnes of cargo were transported during 2009, 10.3% less than in the previous year. The international cargo transported amounted to 405,000 tonnes (-5.6%) whereas there were nearly 160,000 tonnes of domestic cargo (-20.4%). By airports, Madrid-Barajas remained in first place, with nearly 303,000 tonnes (-8.0%). It is followed by Barcelona with nearly 90,000 tonnes (-13.6%); Saragossa, with nearly 37,000 (72.1%); Vitoria, with 27,000 (-21.7%) and Gran Canaria, with almost 26,000 (-22.9%) AIR NAVIGATION The total number of flights handled by Air Navigation in Spain during the year 2009 was 1.88 million, whereas over the course of the year 2008 there were more than 2.06 million, which translates into a variation of -8.9%. According to Eurocontrol data, air traffic in number of flights dropped by 9.5% in the mainland Flight Information Region (FIR) and by 13.3% in the Canary Islands FIR. 3. LINES OF BUSINESS 3.1. AIR CARGO CENTRES The group s company Centros Logísticos Aeroportuarios, S.A. (Clasa) is in charge of building, managing and promoting cargo centres, in addition to conducting activities related to them, particularly at Aena network airports. Therefore, in 2006 Clasa s Corporate Social Responsibility Policy was put into practice. It comprises the company s objectives, commitments and obligations, as well as the guarantees that buildings are required to have with respect to occupational risk prevention, environmental protection, sustainable development, construction quality and customer satisfaction. At the end of 2009 the administrative concessions that Aena granted to Clasa consisted in the modular cargo area at Madrid-Barajas Airport, the air cargo area at Barcelona Airport, plot 1.2 of Saragossa Airport, two plots for logistics operations at Bilbao Airport, two plots of developed land at Vitoria Airport, a plot of developed land at Palma de Mallorca Airport and the air cargo area at Valencia Airport. It is of note that at the end of the financial year 2009, in the cargo centres of Madrid, Barcelona and Valencia, 81.73%, 68.26% and 73.71% of the respective surface area of the general services buildings was leased to a total of 252 clients. The total surface area of the commercial premises of the cargo centres of Madrid and Barcelona amounts to 2, m2. As of December 31st 2009, 81.43% of this space in Madrid and 83.81% in Barcelona was leased. The use of the office buildings at the air cargo centres can be broken down as follows: The most noteworthy actions taken in 2009 at the air cargo centres are summarized in the following manner: Madrid-Barajas Air Cargo Centre On May 27th 2009 the Board of Directors of the public company Aena agreed to grant Clasa the concession of a developed plot of public domain 264 Annual report 2009

70 Legal information Management Report AIR CARGO CENTRE Madrid-Barajass Barcelona Valencia WAREHOUSES NO. OF SURFACE AREA SURFACE AREA CLIENTS OF PLOT M² OF BUILDING M² Warehouses leased 4 82,630 34,848 Warehouses assigned , ,812 Warehouses leased 3 60,819 27,234 Warehouses assigned 3 27,036 21,353 Warehouses leased 5+PIF 20,099 9,389 Warehouses assigned 2 17,094 7, , ,231 land assigned to airport services and measuring approximately 91,787 m², for the purpose of promoting and managing the eastward expansion of the Air Cargo Centre (Phase 5). The development of facilities for providing vehicle services and other complementary services (heavy vehicle parking, fuel station, workshops, spare parts shop, etcetera) were projected for plot 3.1a, in order to improve traffic flow on busy roads at Cargo Centre. A contract was signed with Nacex granting an option to building rights in the south cargo area for the construction of a second-line warehouse in plot 6. Barcelona Air Cargo Centre On April 15th 2009 a contract was signed with the company Forbes Concept S.L. assigning it building and operating rights at plot II.5.b for the construction of a heavy vehicles parking area. On December 1st 2009 the building and operating assignment contract was formalized with the company Transportes Azkar S.A. for the construction of an office building on plot III.5. Palma de Mallorca Air Cargo Centre Once Aena signed the land concession contract for a developed plot at this airport, the contract was signed to assign the company Transportes Azkar S.A. building and operating rights for the construction of a warehouse on plot 4. Malaga Cargo Centre Transportes Azkar S.A submitted an application to operate through an assignment contract at a plot on which it planned to build a 12,000 m2 office building. Tenerife Norte Air Cargo Centre On April 15th 2009 Aena signed with Iberia the transfer certificate for a building located in the Cargo Area, which is currently being used by that company for cargo handling operations, storage of onapron handling equipment, and for business offices. Clasa will be in charge of drafting the demolition project for this building CONSULTING AND ENGINEERING The group s company Ingeniería y Economía del Transporte, S.A. (Ineco) carries out a wide range of studies, and undertakes projects in the fields of consulting and civil engineering, aeronautics, industry, telecommunications, environment, systems, building, urban planning and development and, in general, any activity related to transport, infrastructures, telecommunications and information-based services. Annual report

71 Legal information Management Report Along these lines, during the financial year 2009, 43.04% of production was linked to aeronautical operations, followed by railway projects, construction and maintenance (29.13%), specialities (10.61%), railway facilities and systems (8.49%), development and international projects (4.92%) and roads (3.81%). The most significant projects undertaken by Ineco in 2009 were the following: a) Development and International - Technical support for the concession of Ferrocarriles Suburbanos SA of Cuatitlan Buanavista - Consulting services for the general coordination of the preparation activities required for the construction of the first line of the light rail transportation in Belgrade b) Railway projects, construction and maintenance - Consulting and technical support to monitor platform construction for Leon-Asturias high-speed rail line at Pajares tunnel section. - Consulting and technical support in site and environmental management, NAF platform construction in north and northwest Spain. Madrid-Segovia-Valladolid/Medina del Campo. Sections: Fuencarral-Canto Blanco, Canto Blanco-Colmenar Viejo, Colmenar-Soto del Real, Soto del Real-Miraflores c) Railway facilities and systems - Consulting and technical support to monitor and oversee facilities projects (LAC, locking, ERTMS, telecommunications, GSM-R and associated elements) for the Segovia- Valdestillas section, LAV for the Madrid- Segovia-Valladolid/Medina del Campo high-speed rail. - Consulting and technical support for monitoring and overseeing construction of electrical traction substations and automated transformation centres and remote control of energy for the section Torrejón de Velasco-Motilla del Palancar, of the LAV Madrid- Castile La Mancha-Community of Valencia-Murcia Region. d) Aeronautics - Technical support for the Directorate of Airport Transition to commence operations in expansions of Aena airports - Technical support for providing the consulting service through the management of the Malaga Airport expansion programme e) Roads - Management commission to provide technical and administrative support for conducting monitoring studies and coordinating activities of the Office of the Directorate-General of Roads. -Management commission to draft and issue reports prior to the supervision of the construction projects included in the agreement with the Canary Islands. f) Specialties - Technical support for the sound insulation management office for the expansion of the airport systems of the Aena network. - Consulting and technical support for the environmental management of the track construction platform and facilities and environmental monitoring of completed construction for diverse high-speed rail lines. 266 Annual report 2009

72 Legal information Management Report 3.3. INTERNATIONAL In the international sphere, it is important to highlight visits and meetings with foreign delegations at our airports, from countries such as the Netherlands, Brazil, South Korea, Egypt, Norway, Portugal and the United Kingdom, as well as Aena s participation in ACI EUROPE s 4th Airport Exchange Conference, and the meeting of the Majors group, both held in Barcelona, in addition to the meeting of the Community Observatory on Airport Capacity, in Madrid. In October 2009, Aena Chairman, Juan Ignacio Lema, was named member of the Governing Board of Airports Council International, ACI, while the director of Spanish Airports continued as member of the European Board of ACI Europe. The Directorate of Spanish Airports continued its collaboration with the Directorate of Air Navigation in the Sesar programme. Aena was designated to lead the management of the so-called Airport Operations WP6 and the Directorate of Spanish Airports contributes by participating in 13 projects. Similarly of note is the attendance at and participation in the 38th and 39th meetings of ACI Europe s Environmental Strategy Committee meetings held during the months of April and October 2009, respectively. In the sphere of the Directorate of Air Navigation the following activities are most noteworthy: Adaptation to the new SES regulatory framework Coordination with Aesa to streamline the external audit process in keeping with better practices in Europe: The internal and external (Aesa/Senasa) coordination of the entire Annual Supervision Plan 2009 was performed. This included 51 inspections resulting in the detection of 150 infractions. The ratio improved by nearly 25% over Periodic reports of the state of the Supervision Plan were drafted. Justification and allegation reports for Aesa were prepared (technical certification, quality parameters, operational-support units documentation, AIS-NOF contingency, LVP) The expansion of certification to ADS-C was arranged and negotiated with Aesa, including updating all the certification support documents in technical, legal and organizational areas, with the expansion of the certificate to ADS-C on July 2nd The internal audit unit was established: Sesar Development and formalization of the A131 internal audit process form: A PGR-001; general internal audit procedure of the Directorate of Air Navigation (DNA) and procedure and other associated documents. The internal audit process prior to the future Aenor certification in April of 2010 was prepared: establishment of requisites and coordination with Ineco. The internal audits programmed began in November and they were completed in March Over the course of 2009 two bids were submitted (BAFO 1 and BAFO 2), and Aena was eventually awarded 95 of the 98 projects it proposed, for a total sum of 72.6 million euros. A control procedure was established for Aena s participation in the development phase of the Sesar programme and in order to conduct this monitoring: Teams were created to develop all the projects awarded and to perform the associated management tasks. Annual report

73 Legal information Management Report Coordination mechanisms during Sesar Committee meetings were established through an online tool developed for this purpose. It is essential to point out that the process of assuring Aena s contribution to the Sesar programme is an ongoing activity: an assurance that Aena fulfils its contractual agreements with the SJU in due time and form. The ESSP SAS Service Provision Unit was declared established as of April 1st Signing of two ESSP SAS contracts with the European Commission: The so-called Egnos Signal Continuity Provision known as Plan B, in effect for 6 months, starting April 1st Other international endeavours One of the objectives of Air Navigation is to increase its influence in the international arena. To this end actions were taken over the course of 2009 in the following fields: PENS (Pan European Network Service): On October 28th 2009 the PENS project was signed in Brussels. To boost international relations on the institutional level, high-level bilateral meetings were held with Onda, Naviair and the Director General of Eurocontrol. The participation in regional projects (AEFMP, Oaci) was coordinated and the high-level meetings EC3, CECM and other Canso groups meetings were prepared and attended. Aena set up an Air Navigation office in Brussels. The annual Global ATC exhibition and conference took place on March 17th-19th 2009 in the Dutch city of Amsterdam where Aena participated with a 108 m2 stand staffed by personnel specialized in the different systems presented. The EGNOS Service Provision contract (known as Plan A), in effect for 51 months, from October 1st 2009 to the end of SACCSA Project: The third phase of SACCSA was launched during the first quarter of 2010 after it was awarded to the consortium led by GMV and with the support of Indra, Senasa, Raytheon, Universidad de La Plata and Centro de Alta Tecnología of Costa Rica. Celeste Project: Celeste was undergoing the European Commission (EC) review process and pending the final review meeting scheduled for the second quarter of Ground-Based Augmentation System (GBAS): On September 4th, the Honeywell GBAS CAT I, commercially known as Smartpath, received System Design Approval from the FAA. Development of Egnos, the European satellitebased augmentation system: AENA INTERNACIONAL Signing of Egnos Agreement by Aena, the rest of the EOIG partners and the European Commission. During 2009 Aena Internacional continued participating actively in the management it undertakes in differ- 268 Annual report 2009

74 Legal information Management Report ent corporate forms at 28 airports in which it has an interest in Latin America (Mexico, Colombia, Cuba and Bolivia), the European Union (the United Kingdom and Sweden) and the United States of America. The difficult conditions of the air transport industry during 2009, ensuing from the worldwide financial crisis, had a negative impact on many of the assets managed by Aena Internacional, which resulted in an 8.17% downturn in passenger traffic, with a total of 47.5 million passengers as opposed to 52 million in Especially significant were the decline in traffic at airports operated in Mexico where passenger throughput decreased by 13.3% from the previous year. Elsewhere, passenger traffic throughout TBI likewise suffered a sharp downturn at 7.7%. Of note, however, is the overall abundance of traffic at airports in Colombia which, on the whole, recorded an 11.97% increase in Despite the general decrease in traffic, the management strategy based on cost containment to a certain extent compensated for that decline by preventing its being directly transferred to operating income, which can be considered positive, considering the crisis we are in. Overall, Aena Internacional has continued providing technical support and assistance services at the airports in which it has an interest, especially where it acts as operating partner. In the aeronautics services area, 2009 was a year of consolidating the operations of the In-flight Verification Unit and the Galileo project office. Regarding the quality system, Aena Internacional continued striving to improve the quality of its services, adapting its management system and attaining certification in line with the new ISO 9001:2008 standards. As a consequence of the activity described above, the company has continued to earn profit from operations despite the impact of the financial situation. MEXICO Aena s holding in Aena Internacional in the Grupo Aeroportuario del Pacífico (GAP), which operates 12 airports in Mexico, is administered through the company Aeropuertos Mexicanos del Pacífico (AMP), which in turn is GAP s strategic partner through 17.4% of the capital and a technical support contract, and in which Aena Internacional is its operating partner. In 2009 GAP operations demonstrated a significant slump in growth due to the persistence of the difficult worldwide financial situation (which considerably affected the industry in Mexico and its principal international market, the Unites States of America), the reorganization of the low-cost market and the definitive disappearance of several airlines. Total passenger throughput (excluding transit) fell by 13.3%. Passenger traffic was at 19.2 million, 66% of which was domestic and 34% of which was international. Operational activity declined by 12.92% in step with the fall in traffic, as there were a total of 405,007 operations. Air cargo was also affected by the downturn in the economy of the United States of America, as a total of 126,278 tonnes were carried. However, in the last months a significant recovery was made. All these factors had a negative influence on the company s EBITDA, though to a lesser extent than on traffic due to the successful practice of cost containment and the strength of sales income. Thus, the EBITDA margin was maintained owing to rigorous cost controls. Annual report

75 Legal information Management Report The Mexican authorities approval of the Master Plan was attained. This plan was drawn up by Aena for the group s 12 airports. The investments and associated regulation of charges were also approved, thus providing a stable management framework for the next five years. Main endeavours The relevant developmental master plans and additional investment plans continued to be implemented, as more than 420 million Mexican pesos were invested. The main endeavours in 2009 consisted in adapting the infrastructures of the airports to ICAO standards, upgrading pavement and building private aviation terminals (FBOs) in Guadalajara and San José del Cabo. Moreover, the new ground transport station of the new parking area at Guadalajara Airport was completed. With regard to sales, the investments in FBO and ground terminals led to launching new services in these facilities, and the expansions of the shopping areas in Guadalajara and San José del Cabo led to a newly arranged passenger flow. Aena Internacional advice and consulting The projected Technology Transfer Plan was developed with a special contribution of training and technical areas (diagnoses of pavement condition, airport signposting and studies of cardio-safe airports). In 2009 Aena Internacional prepared a diagnosis of GAP s information systems and drew up a proposal for the implementation of the Scena operational system at the 12 airports. COLOMBIA Aena Internacional has an interest, as operating partner, in the airports of Cartagena de Indias, Barranqilla and Cali, with respective holdings of 38%, 40% and 33% in the companies that manage them Sacsa (Sociedad Aeroportuaria de la Costa S.A. in Cartagena de Indias), Acsa (Aeropuertos del Caribe S.A. in Baranquilla) and Sociedad Aerocali S.A. in Cali. Activities at these airports evolved favourably in 2009: Sacsa. In 2009, owing to the efforts intended to increase traffic, and as a result of the marketing plan, international passenger traffic again rose considerably, by 7.3%. The growth in international passenger traffic was brought about by the addition of a new airline, Lan Perú, as well as the increased frequencies of the airline Spirit and the airline Aerorepública s new route to Caracas. As regards domestic traffic trends, the Colombian airports were affected by the launching of the low-cost airlines. Thus, domestic passenger traffic in Cartagena increased by 19.42% over the previous year with the start-up of two new airlines: Aires and Easy Fly. As a consequence of the former, in 2009 Sacsa s operating income grew by 24% over that of Acsa. Passenger traffic grew by 8.34% bolstered by a 14.8% increase in domestic traffic, following the introduction of low-cost airlines. The increase in domestic traffic attenuated the downturn in international traffic caused by the worldwide financial situation and the withdrawal of American Airlines from Barranquilla Airport. However, starting the second semester of 2009 signs of recovery were observed as new international routes were introduced and a new route to Miami was announced for AEROCALI. Traffic increased over the previous financial year and reached the figure of 2.74 million passengers. Domestic passengers increased by 12.7% and international passengers by 3.36%. This, along with the efforts made by Aerocali to improve business income and contain costs, resulted in a 20.3% 270 Annual report 2009

76 Legal information Management Report CUBA rise in operational profit for the company. In 2009 the company again paid out dividends to its shareholders for the second time since its founding. In 2009 Aena Internacional signed a new contract with Empresa Cubana de Aeropuertos y Servicios Aeronáuticos for Advice and training for operating Ecasa airports. With this new contract the business relations with Ecasa (the enterprise that administrates and operates the airports in Cuba) are continued and expanded. TBI Aena Internacional has an ownership interest in the company TBI P.L.C. through its sole owner, Airports Concessions and Development Limited (ACDL), in which it has a 10% shareholding. Either directly or through concessions TBI operates the airports of Luton, Belfast and Cardiff in the United Kingdom; Orland Sanford in the United States; La Paz, Santa Cruz and Cochabamba in Bolivia and Skavsta in Sweden. It also has various operating and management contracts in the United States. The impact of the worldwide financial crisis resulted in a 7.7% fall in passenger traffic mainly owing to significant declines at United Kingdom airports. Nonetheless, the strategy of cost containment and investments mitigated the net result although the year-end figures show a loss of 1.9 million pounds. The decrease in traffic made for a total passenger throughput of million for the group, yet there was a noteworthy 12.2% increase in passenger throughput at the three Bolivian airports. The most significant drops in traffic were recorded at the UK airports: Luton (-10.4%), Belfast (-13.3%) and Cardiff (-17.9%). TBI conducted a major readjustment of investment efforts, which were basically limited to maintenance tasks. The most notable investments were made to replace the radars at Belfast and Cardiff and to redesign the landside and airside layout at Belfast in order to increase and better distribute the shopping on offer at the airport. AERONAUTICAL SERVICES In-Flight Verification Unit In the year 2009 the activity conducted by Aena Internacional s In-flight Verification Unit (UVV) was firmly established. The UVV reached its maximum performance, carrying out periodic, special and entry into service verifications of all types of radio-aids and manoeuvres including those affecting high density TMA, such as Madrid and Barcelona. There were a total of 622 hours of flight, during which 151 calibrations were performed (35 NDB, 45 VOR- DME, 2 DME, 31 ILS Category I, 2 ILS Category II, 13 ILS Category III, 9 PAPI, 6 procedures and 8 radar charts). The list of airports for which services were provided includes: Ibiza, Menorca, Fuerteventura, Gran Canaria, Tenerife Norte, Lanzarote, Tenerife Sur, Bilbao, Santander, Reus, Valencia, Malaga, Almería, Seville, Vitoria, Asturias, Santiago, Madrid-Barajas, Barcelona, Girona and Ciudad Real. GALILEO In 2008 Aena Internacional was designated by its parent company Aena to create the Galileo Unit in charge of developing the future Galileo infrastructures in Spain. During the year 2009 the Galileo Unit was established, continuing to support the Ministry of Public Works and Transport for the purpose of maximizing Spain s long-term presence in the Galileo project. Annual report

77 Legal information Management Report 3.4. AIR NAVIGATION The Directorate of Air Navigation is committed to reaching maximum levels of quality in the services it provides by continually improving their efficacy and the efficiency of the system. The operational services provided are: airspace organization and management, management of the relation between capacity and demand, air traffic control and aeronautical information for air navigation. In order to increase efficacy, it aims to reduce delays caused by the Spanish air traffic management system, improve performance with respect to the number of operations during highly demanded periods and times, in addition to offering the possibility of selecting preferred routes and optimizing the management of traffic capacity and flow by meeting user s real-time operating requirements. The strategic changes addressed in 2009, stipulated in the Air Traffic Management Action Plan, are as follows: The organization and management of the airspace will be structured and managed regardless of internal and external organizational borders. The Air Traffic Control (ATC) sectors will be designed according to demands in air traffic flows, without the organizational borders entailing limitations as to the attainment of the best solutions. The route design and network will be optimized: the network of routes will be designed according to users preferences, and procedures for facilitating alternatives will also be developed. ATC work will be optimized through the development and dynamic application of ATC sector-position configurations for different operating scenarios. Availability of the entire airspace: the airspace will be treated as a seamless resource available to all users. It is important to point out that 95.5% of the ATM (air traffic management) Action Plan 2009 was accomplished. TECHNOLOGICAL DEVELOPMENT AND TECHNICAL OPERATIONS Within the sphere of technical development and operations of infrastructures we seek to appropriately provide the facilities and technical means to guarantee optimal support of aircraft operations with regard to availability, operation and maintenance of the technical means and facilities of the air navigation system. The strategic changes addressed in technical development and operations are as follows: To optimize the processes of planning, sizing and deploying air navigation infrastructures and systems to meet operational requirements, productivity and profitability criteria, synergies and opportunities for improvements and overall interoperability. In general, for all the tasks related to technological development, deployment and technical operations of the infrastructures the following actions are executed in collaboration with the Directorate of Operations: Definition of operational requirements. Validation of operations (only for the ATM automation system). Launching operations. The most relevant actions carried out in the area of technological development and technical operations are enumerated below, grouped into main areas: Development of the ATM automation system Functional changes in the SACTA, ÍCARO systems 272 Annual report 2009

78 Legal information Management Report Updating infrastructures (replacement of Automated Air Traffic Control System or SACTA in Barajas South Tower, starting-up extension of Sacta equipment in Barcelona s provisional tower, updating several training rooms in the towers at Madrid- Barajas, Barcelona, Malaga, Tenerife Sur and the Canary Island Air Control Centre) Voice communications system (VCS), which consists in the operational expansion of the ATS-R2 and ATS-N5 analogue telephone signalling system both nationally and internationally, launching VCS equipment in the Sector Control Units of the CATS-simulations rooms of the control centres in Seville, Palma de Mallorca and Canary Islands Development of navigational aids ILS-DME Programme: completed replacement of ILS at Saragossa Airport, runway 30R, moved GP- DME subsystem of runway 20 at Girona Airport, replacement in progress of Granada s ILS-DME on runway 09 and replacement of Barajas ILS-DME, runway 33L and ILS-DME facilities of Logroño, Malaga and Murcia-San Javier. Conventional surveillance radar (completed installation of MSSR in Valencia, provisional Valencia and Barajas. Underway at Gran Canaria and Tenerife Sur. Completed installation of PSR in Valencia. Underway at Gran Canaria and Tenerife Sur. Radars at Tenerife Sur and Gran Canaria replaced with new models with Mode S capacities) Surface surveillance (completed installation and launch of SMR surface radar for the Barcelona Tower and the multilateration system for Tenerife Norte Airport. This is in progress in Barcelona. ADS data link based surveillance Development, operation and evolution of the satellite navigation system Development of the GNSS satellite navigation system (the PBN implementation group was established with the participation of Aena for the eventual implementation of NPA approaches and P- RNAV GPS-based manoeuvres) Development of the European satellite augmentation system Egnos (European Global Navigation Overlay Service): VOR-DME Programme: replacement of DVOR/DME for VOR at Cuesta la Reina, installation of a DVOR- DME in Lanzarote LTE (new location), replacement of VOR of San Javier underway, DVOR-DME of Cordoba, DVOR-DME of Gran Canaria (GDV) and launching DVOR-DME at Tenerife Norte. NDB Programme: completed replacement of NDB at Pamplona PP, moved NDB at Vigo VI and installation of NDB underway at Cordoba. Development of surveillance The ESSP SAS was designated by the European Commission (EC) as the company in charge of becoming the provider of Egnos services, in addition to operating and maintaining the system. Activities conducive to implementing Egnos operations (LPV approaches) have begun. They are subject to the certification of ESSP SAS as Egnos service provider and the SOL service statement by the EC. Operation of the elements of the Egnos system located in Spain continues (RIMS, NLE and MCC) as does the preparation of the operating contract (ESP) with the GSA and the new ESSP. The MCC, NLES, RIMS and TE contracts were signed and are projected to be in effect until the end of Annual report

79 Legal information Management Report Ground based augmentation systems (GBAS): Standardization of auxiliary air navigation systems. The installation of the GBAS CAT I at Malaga Airport, certified by the FAA, was left pending adjustments in the first quarter of Meanwhile, the activities for the operational implementation of GBAS have already begun and continue as planned. Technical operations (required logistics support provided to the air navigation technical operations centres and the first phase of implementation of Etna tool modules implemented to support technical operations). Building and upgrading air navigation centres Development of the aeronautical communications system Ground-air communications (initial installation of new communications centres of Tenerife Norte and Cordoba and start-up of new transmitter centre at Malaga Airport). Ground/ground communications (completed G/G communications infrastructure at Murcia-San Javier, and the network of TDM multiplexers is operating in the AEFMP). Regulation and broadcasting (GBANA project, adaptation of ten ATIS to the amendment of annex 3 of ICAO and their installation, and installation of ATIS at Jerez and Girona airports. Development of simulation programmes Simulation programme (carried out simulation studies and initial evaluation of new Sacta versions impact on controller workloads). Technical operation of infrastructures In this area it is of note that air navigation system s technical availability was 96% successful and 97% of the SNA in-flight calibrations plan were accomplished: Some of the main projects carried out during 2009 in this field are listed below: The planned actions for building the new Terminal Control Centre in Valencia were accomplished. A new receiver centre was completed at Palma de Mallorca Airport. The administrative tasks were performed with the Canary Island government for the construction of a new radar station at Fuerteventura Airport. The remodelling of the South Tower at Madrid- Barajas Airport was finished. The expansion of the equipment room of the Malaga Tower was completed. In 2009 Aena s strategy was aligned with the guidelines of the Ministry of Public Works and Transport, using the Strategic Infrastructure and Transport Plan (Peit) as a basic reference. In line with this planning framework the general strategic objectives are grouped into five strategic management areas: safety; quality and the environment; infrastructures and services; economic efficiency and financial viability; and people. Creation of new air navigation infrastructures and renovation and adaptation of existing ones. 274 Annual report 2009

80 Legal information Management Report 4. SAFETY Aena s General Safety Plan sets out all the aspects of safety in its facilities, operations and services. This General Safety Plan addresses means of improving the three facets of overall safety: Operational safety and self-protection. Security of persons and property. Occupational risk prevention. With regard to operational safety and self-protection, measures were taken in the following fields: Safety Management System During 2009, the Safety Management System (SMS) was implemented at 11 Aena network airports (Ibiza, Tenerife Sur, Barcelona, Palma de Mallorca, Gran Canaria, Malaga, Alicante, Lanzarote, Madrid-Barajas, Valencia and Bilbao). The process of implementing the SMS is in its final phase at another 12 airports (Fuerteventura, Menorca, Girona, Jerez, Santiago, Tenerife Norte, Seville, Almeria, La Palma, Federico García Lorca Granada-Jaen, Asturias and Corunna). The definition phase has begun at another 10 airports (Reus, Vigo, Logroño, Vitoria, Melilla, San Sebastian, Pamplona, Saragossa, Son Bonet and La Gomera). From the standpoint of air navigation services, since the Safety Management System was put in place in 2006 to comply with the requirements established in the regulatory framework for providing air navigation services (EC no. 550/2004) and the ministerial order of the General Directorate of Civil Aviation on March 16th 2006 regarding the attainment of certification for providers of civil air navigation services in accordance with the Single European Sky regulations, throughout 2009 important progress was made with regard to training. The operational safety course was given to 1,212 students in order to improve the mechanisms of raising awareness about safety; a new magazine called +Seguridad en Navegación Aérea (More Safety in Air Navigation) was published, and a website on safety was developed on the Internav (the Air Navigation intranet). In relation to the assessment and handling of safety incidents, the total number of notifications increased, and the majority of these were in-house notifications. The process of risk analysis and mitigation was virtually consolidated as the documents and forms needed to expedite this process were produced and new coordination mechanisms were established. Process Of Certifying Aena Network Airports As regards the process of certifying airports, the following documents were drafted and sent to the State Agency for Air Safety (Aesa) on August 31st 2009 for their approval: Programme of action for adapting to the Royal Decree on Airport Certification. Airport certification plan. In relation to the Airport Certification Plan, it is important to highlight Ibiza Airport s certification application in December 2009, which is considered a pilot airport. Audits by the European Commission and the State Agency for Air Safety (Aesa) It is important to point out that in 2009 the inspections and audits performed by the European Commission at the airports of Malaga (in June) and Barcelona (in December) and the monitoring of Madrid-Barajas Airport (in September) all had favourable outcomes. Furthermore, Aena performed scheduled safety checks at 24 airports (Albacete, Almeria, Asturias, Badajoz, Annual report

81 Legal information Management Report Barcelona, Fuerteventura, Gran Canaria, Federico García Lorca Granada-Jaen, Huesca-Pyrenees, Jerez, La Gomera, Lanzarote, El Hierro, Leon, Melilla, Palma de Mallorca, Pamplona, Sabadell, Salamanca, Seville, Son Bonet, Tenerife Sur, Vitoria and San Sebastian), in addition to partial unscheduled checks at the different airports where the presence of the Directorate of Airport Safety was required as a consequence of the need for operational improvement, implementing procedures, running tests, implementing corrective measures and optimizing the resources employed for performing safety services at the airports. Concerning the security of persons and property, the following measures were taken: Investments in security equipment As regards security equipment, in June 2009 operations began successfully at Barcelona s new Terminal 1, with state-of-the-art screening equipment for passengers and employees, as well as for hand luggage and luggage to be stowed in holds. In this direction, during 2009 equipment was installed in Malaga Airport s new Terminal 3 both at passenger and employee checkpoints (14 walkthrough metal detectors and 22 x-ray devices) and for the hold luggage screening system (13 new machines for detecting explosives EDS, 2 tomography machines and 5 x-ray apparatuses). Furthermore, apart from these major expansions, the renovation of equipment in various network airports continued and new needs were met. Following up with the progressive incorporation of new equipment, shoe metal detectors continued to be installed. In 2009 they were installed in Madrid-Barajas and Barcelona airports, in addition to those already installed in Palma de Mallorca Airport. The tendering process was underway for installing them in the rest of the network airports, thus improving the passenger screening process. New model for the provision of private security In 2009 the private security service was put out to tender and awarded in accordance with the new quality criteria defined in the new model for the provision of private security at the 43 network airports. Physical security of the air navigation system One of the main objectives of security is to ensure the protection of the persons, infrastructures, technical facilities and data involved in air navigation. Therefore, the following measures were taken to improve the processes of managing physical security: The human resources of physical security were optimized by installing security systems that, without increasing the level of risk to the facilities, reduce the cost of security personnel. Specifically, in 2009 the following reductions were made: 1H9 in Menorca, 1H24 in Gran Canaria, 1H24 in MGA radar of Malaga and 2H24 in the Southern Region ACC and C.R. el Judío. At the same time, detection systems were installed by implementing the use of Air Navigation credentials wherever necessary. Among the most noteworthy actions taken in the area of occupational risk prevention is the attainment of an overall incident rate at Aena (the number of accidents per thousand workers) of 9.28, which entails an 8.4% reduction from Similarly, the objectives set out in 2009 regarding the number of risk assessments and medical check-ups were accomplished as, respectively, 22.7% and 0.2% more were performed than in 2008, whereas 26,213 hours of workplace risk prevention training were given at Aena. 276 Annual report 2009

82 Legal information Management Report 5. QUALITY AND THE ENVIRONMENT 5.1. QUALITY In the sphere of quality the following results were obtained in the year 2009: Aena s corporate units adapted the processes of certification of the quality system pursuant to the UNE-EN ISO 9001:2008 standards. Currently, 43 airports also boast certification updated to the 2008 standards and the Directorate of Air Navigation projects its adaptation to these standards in April 2010, encompassing all the regional directorates of air navigation. On the subject of training, a total of 46 people were given courses in order to comply with the respective regulations as well as to guarantee more efficient and professional management. To this end, Aena counted on the collaboration of Aenor, the Club for Excellence in Management and the Spanish Quality Association. Classroom, online and distance courses were given, as were some personalized courses in exceptional cases. With respect to using the management framework of the European Foundation for Quality Management (EFQM), during the financial year 2009 self-assessments were carried out at the airports of Madrid-Barajas, Seville and Saragossa. Saragossa Airport submitted an entry for the Award for Entrepreneurial Excellence in Aragon, and was selected as a finalist in the group of large companies, earning over 300 points that could be equated the following year to a 300+ Seal and its correlative Recognised for excellence 3 stars. In the area of Corporate Social Responsibility, in November 2009 the Board of Directors of Aena approved the Corporate Social Responsibility Policy and Strategy, which proposes a four-phase deployment. Worthy of mention in this regard is the drafting of Aena s Corporate Social Responsibility Report for the financial year 2008, following the Global Reporting Initiative (GRI) guidelines for Sustainability Reporting (version 3.0) of October In this manner, in its CSR Report 2008, Aena decided to follow application level B of the GRI recommendations, as the Global Reporting Initiative had declared this level of application. In the area of R&D&I management, these activities are monitored through periodic reports of their level of execution. One improvement in Aena s innovation management that was identified by the assessment conducted was the perfection of the technological and innovation management strategy with the definitive inclusion of a set of indicators that enable measuring the accomplishment of Aena s R&D&I objectives. At Aena, this broadreaching approach to innovation materializes in numerous projects, among which the following are most noteworthy: - In the sphere of air navigation: the Sesar programme for the development and implementation of the Single European Sky concept, the Egnos and Galileo projects for the improvement of satellite navigation and the Sacta programme for the automation of air traffic systems. - Among the outstanding actions in the sphere of airports are the implementation of integrated systems at airport management centres and the automated baggage handling systems. - In more general areas, Aena conducts innovative activities such as the satellite ortho-imaging airport information system (Saos), or, in the realm of energy efficiency, projects geared Annual report

83 Legal information Management Report toward rationalizing energy consumption and using renewable energies. It also undertakes projects designed to improve security of persons and facilities through innovative information technologies and it carries out plans to facilitate information and special services to persons with reduced mobility. - As a result of Aena s efforts to foster R&D&I projects, it is important to underscore the progressive start-up during 2009 of its benchmark ATM R&D&I centre (Crida), created in 2008 for the purpose of developing, identifying and analyzing new air traffic management procedures and systems. Pertaining to Aena s close collaboration with associations and organizations promoting excellence in business management, it is worth mentioning the presence of Aena experts as evaluators for the award for excellence in public management, promoted by the Agency for Evaluation and Quality (Aeval) attached to the Spanish Ministry of the Presidency. Aena has also provided different forms of support for the Excellence in Management Club such as organizing the annual forum for excellence in management or evaluating organizations that submit entries for seals of excellence in the 500+ points category ENVIRONMENT During the year 2009 the following actions were undertaken in relation to environmental protection, a strategic objective of Aena which is integrated at all operational levels. Environmental certification With respect to environmental certification in accordance with the UNE-EN ISO 14001:2004 standards, all Aena network airports are certified, as are the Directorate of Air Navigation and its five regional directorates, the Directorate of Spanish Airports and the Central Services of the corporate units. Sound insulation plans During 2009, Aena sound-proofed 697 homes included in the sound insulation plans of Madrid-Barajas, Alicante, Malaga, Palma de Mallorca, Valencia, Tenerife Norte and Gran Canaria airports. Similarly, the sound insulation plans for Pamplona, Santiago and Bilbao airports began to be executed. Following the ruling on April 29th 2009 of the Ministry of the Environment and Rural and Marine Affairs whereby it formulated the environmental impact statement in relation to the project for the expansion of Bilbao Airport, and as a result of the regulatory framework of Law on Noise, the scope of the sound insulation plans corresponding to Aena network airports, whose rulings were published past that date, have been defined by the following noise levels: Ld 60 decibels (A) (7:00-19:00 hours), Le 60 decibels (A) (19:00-23:00 hours) and Ln 50 decibels (A) (19:00-23:00 hours). This criterion was applied at the airports of Sabadell, Menorca, Ibiza, Vigo and Gran Canaria, in addition to Bilbao Airport, and it is projected that in future environmental impact statements that are formulated by the abovementioned ministry this is the range to be established for the execution of corresponding sound insulation plans. Assessment of the environmental impact of projects and strategic environmental assessment of planning tools During 2009 the environmental management statements (EMS) were obtained for the airport expansion projects in Cordoba (runway extension), Bilbao, Ibiza, Gran Canaria, 278 Annual report 2009

84 Legal information Management Report Menorca and Logroño, as well as the environmental rulings on the infrastructure projects at Gran Canaria, Leon, Malaga, Murcia, Sabadell, Valencia and Vigo. Similarly, the corresponding reports reflecting compliance with the conditions established in the environmental impact statements (EMS info) were drafted and processed. On the topic of monitoring and overseeing actions derived from the environmental impact statements a replacement programme was put in place for on-apron support vehicles at Palma de Mallorca Airport. With regard to the strategic assessment of planning tools, in collaboration with the Ministry of the Environment and Rural and Marine Affairs, the environmental reports were drafted for the proposed revision of the master plans of the airports Federico García Lorca Granada-Jaen, Ibiza, Menorca, Palma de Mallorca, Pamplona, Santander, Valencia and Vigo, and the official environmental procedures were initiated for the proposed revision of the master plans of Alicante, Cordoba and Son Bonet airports. Sound and air assessments On the subject of managing the noise pollution in the airport surroundings it is fitting to highlight the sound assessment undertaken with a view to removing the aircraft that only marginally comply with requirements at Barcelona Airport, and the installation of a noise and flight path monitoring system at Valencia Airport. In a different direction, a public notice was placed for 60 days starting December 9th 2008 regarding the updating of the strategic noise maps of the airports of Barcelona, Madrid-Barajas and Valencia. Furthermore, the sound footprints continued to be determined by the environmental impact studies and environmental documents, as were those of the master plans undertaken during The revision of the sound footprints of the Saragossa Airport master plan was also carried out and is currently undergoing the approval process. As regards air assessments, air quality control and monitoring programmes were drawn up for Gran Canaria and Reus airports. Characterization and management of soil In 2009, following up on work of previous years, further steps were taken to decontaminate soil at Palma de Mallorca Airport, and several plots of land were certified at Burgos and Valencia airports. Moreover, analytical controls were run at the piezometric monitoring network at the airports of Almeria, Asturias, Badajoz, Bilbao, Burgos, Madrid-Cuatro Vientos, Gran Canaria, Malaga, Salamanca, Seville and Vigo, and the piezometric monitoring network at Palma de Mallorca Airport was expanded. Renewable energy The feasibility plan was drawn up for the implementation of renewable energy technologies at Madrid-Barajas Airport. It was intended that this study be especially practical and it was therefore focused on the systems based on photovoltaic solar energy, thermal solar energy and wind energy. In all the studies carried out to date it has been taken into account that the main activity of the airports are airport operations and air traffic, which may to some extent condition the implementation of systems based on certain renewable energy technologies. The preliminary feasibility report was drawn up on wind turbine systems for Gran Canaria Airport. It enumerates different small-sized wind turbine options in addition to new options for the distribution of wind energy systems. A proposal of intentions was drafted in preparation of a feasibility study of electrical vehicles on airport premises. Annual report

85 Legal information Management Report The aim is to study the operability of a 100% electrical vehicle in the airport environment. This evolved into an implementation plan for 2010 divided into two phases in which the initial studies and tests will be performed. On the topic of energy efficiency, energy studies were carried out at the terminal buildings of Logroño, Valladolid and Salamanca airports and the north pier building-terminal 3 of Madrid-Barajas Airport. The Aena headquarters building, located on Arturo Soria street in Madrid, was also analyzed. In all of these places diverse energy-saving measures were determined and will be implemented as funding for them becomes available. Each building study includes the building s energy rating, and it is checked whether it complies with the Technical Building Code, especially with regard to the HE-1 energy demand limitation. Moreover, projects were reviewed to determine whether they are drafted in compliance with the building code. 6. INFRASTRUCTURES 6.1. INFRASTRUCTURE PLANNING In 2009 the process of reviewing and updating the master plans of the Aena network airports continued and proposals for new master plans were drafted for the airports of Fuerteventura, La Palma, Seville and El Hierro. As for the special plans, initial approval was achieved of the special plans for the airports of Seville and Malaga. Collaboration with the diverse public administrations was continued in order to achieve definitive approval of the remaining special airport plans that are currently being processed. Furthermore, and for the purpose of being able to initiate procedures once approval of the master plans has been obtained, the corresponding special plans were prepared for the airports of Granada-Jaen, Menorca, Vigo, Alicante, Bilbao and Cordoba. Similarly, and in order to achieve the integration of the airports into the landscape, the corresponding development reports were prepared. Proposals were drafted for the aeronautical easements of Alicante, Reus, Bilbao, Vitoria, Son Bonet and Palma de Mallorca airports, as well as for the Randa transmitter centre; NDB Porto Colom, VOR-DME Pollensa, NDB Andratx, VOR-DME Mallorca, VOR-DME Capdepera and Soller Control Centre. Upon request of the DGAC multiple feasibility reports were drawn up for the urban developments in areas affected by aeronautical easements. A new module of the Sigra system was developed and implemented for the generation of property information at the 47 network airports and within the Sigra system, a new module was implemented for processing sewage and waterworks network at the airports of Gran Canaria, Tenerife Norte and Tenerife Sur. Cartography was produced for the airports of Reus, Barcelona, Bilbao, Girona, Vitoria, Burgos, Gan Canaria, Melilla, Almeria, Malaga, Cordoba and Lanzarote, in addition to Vejer (VOR) so as to be able to calculate the airport and radio-electrical easements. The Airport Topographical Control Network (RCTA) was implemented at the airports where construction took place. Lastly, the five-year review was completed of the master plans for the 12 Mexican airports, and these master plans were approved by the Mexican airport authority in December INFRASTRUCTURES The objectives associated with the core infrastructures and services are: 280 Annual report 2009

86 Legal information Management Report To adapt supply to demand for services To improve infrastructure maintenance and upkeep To optimize processes and foster technological innovation In short, they aim to create and develop airport and air navigation infrastructures capacitated to successfully serve the growth in traffic anticipated for the coming years. Properly adjusting supply to the requirements and demands of all customers and users of the Aena network entails the expansion, modernization and upgrading of airport facilities. To this end, in 2009 projects continued to be drafted and the planned construction work and installations were executed, contributing to the improvement of quality, increasing environmental sustainability, maintaining high levels of occupational risk prevention and safeguarding the security of persons and property. All this was carried out while keeping in mind technical and economical efficiency, in accordance with the legislation in force, and complying with all the applicable standards and guidelines: Safety and prevention; conditions favourable to risk prevention continued to be reinforced throughout the phases of construction, from writing up projects to executing construction work, and during the tendering process contractors were informed of Aena s preventative criteria and the legislation in force regarding minimal health and safety requirements for construction projects. Quality assurance; the activities related to the development and monitoring of the quality management system were directed, supervised and coordinated for infrastructure management, and the activities related to performing technical audits of the construction projects assigned to Management were conducted. Environment; the actions needed to carry out the different studies, projects and reports stipulated in the environmental impact reports were undertaken and the environmental controls from the planning phase to project completion were effectuated; the different environmental activities derived from the execution of construction were directed and coordinated and Aena management collaborated with the DPI to prepare and process the Environmental Impact Statements (EIS) for the construction projects it was assigned. The specific units in charge of the special airport plans, those involving the development and execution of the infrastructures needed for the expansion of the airports of Barcelona (Barcelona Plan), Malaga (Malaga Plan), and Alicante and Valencia (Levante Plan), continued to make substantial progress on these projects and on the scheduled construction that contributes to modernizing and upgrading the facilities in anticipation of future demands, in addition to improving society s perceived image of the airports. 7. SERVICES 7.1. ASSISTANCE FOR PERSONS WITH REDUCED MOBILITY (PRM) Since July 2008, Aena has been providing at all its Spanish airports an assistance service for persons with reduced mobility (PRM), in compliance with Regulation (EC) 1107/2006 of the European Parliament, which safeguards everyone s right to enjoy air transport at all European airports, regardless of their disability. As is laid down in the regulation, Aena has and still does contract this service to companies with extensive experience in the airport industry. Annual report

87 Legal information Management Report From the standpoint of demand, during 2009 the service was provided 1,120,000 times throughout Aena s network airports, generally receiving very positive ratings from PRM MODIFICATIONS OF OPERATING HOURS During 2009 the operating hours of Burgos and Valladolid airports were modified. Since January 2009 the operating hours of Burgos Airport ceased to be from 06:00 hours to dusk in summer and from 07:00 hours to dusk in winter, and were changed to 06:00 to 17:00 in summer and from 07:00 to 18:00 in winter. Valladolid Airport, whose operating hours in summer are from 05:00 to 08:30 and from 06:00 to 21:300 in winter, may now be authorized 2 hours PPR all year long AIRPORT MARKETING With regard to airport marketing, progress was made in one of the most important areas of this field: drawing up marketing plans. Marketing plans consist of an external, internal and market study of the airports in question and their regions in order to determine their potential. In 2009, the marketing plans were drafted for seven airports: Fuerteventura, Girona, Ibiza, Lanzarote, La Palma, Menorca and Reus. In relation to market research, a fundamental tool for analyzing market trends and opportunities, the Emma office has carried out more than 75,000 surveys at 4 Spanish airports (Barcelona, Ibiza, Madrid-Barajas and Palma de Mallorca). In addition to studying our airports, the airport marketing unit organized meetings with a large number of airlines and local agents for the purpose of proposing new routes. In the year 2009 three international forums were attended: Fitur, Routes Europe and World Routes, and the IATA slots conferences OPENING TERMINAL 1 OF BARCELONA AIRPORT On June 17th 2009 the Star Alliance airlines relocated to the new Terminal 1 (Phase 1). On September 9th 2009 Oneworld Alliance, Vueling and Air Nostrum airlines relocated to the T1 (Phase 2); and on October 25th 2009 the Sky Team airlines relocated to the T1, thus completing the third and last phase. All these phases took place without incident ACTIONS RELATED TO THE NEW TERMINAL 3 BUILDING OF MALAGA AIRPORT In the month of December performance tests were run in anticipation of the opening of Malaga Airport s new Terminal 3 building ACTIONS RELATED TO THE NEW TERMINAL BUILDING AT ALICANTE AIRPORT All the major contracts related to this expansion have been awarded and the projects are underway. The new terminal building is slated to open in early 2011, and a 3-month period for performance testing will follow OTHER SERVICES LAUNCHED IN 2009 In 2009 services were launched in the terminal building expansions at various airports: 282 Annual report 2009

88 Legal information Management Report Almeria Airport: On June 30th 2009 the expansion of the departures terminal was opened (Phase 1). Badajoz Airport: On July 31st 2009 the expansion of the arrivals terminal was opened (Phase 1). Fuerteventura Airport: On November 9th 2009 the expansion of the new arrivals area was opened (Phase 1). 8. ECONOMIC EFFICIENCY AND FINANCIAL VIABILITY The objectives related to the economic area are to increase revenue, reduce costs and control debt, which sum up the main economic and financial aspects of Aena s management. The fundamental principle behind the financial policy of the Grupo Aena companies is based on centralizing this policy at the Directorate of Administration and Finance so that all financial liabilities and assets may be contracted and managed from that directorate, except for those of Ineco, which determines its own finance policies. The main financial risks are enumerated below: a) Interest rate risk In order to manage interest rate risk Aena aims to optimize financial expenditures within the established risk limits. The Public Company does not usually undertake business transactions in currencies other than the Euro (unlike subsidiaries such as Aena Desarrollo Internacional and Ineco), so the financial expenditure risk is concentrated in 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 loan agreements). Additionally, the risk value of financial expenditure is calculated with a view to the Multianual Action Plan and scenarios of interest rate fluctuations are established for the period under consideration. In the financial year 2009 the Group engaged in interest rate hedging transactions. b) Liquidity risk The main risk variables are: limitations of finance markets, increase in projected investments, and reduction in cash-flow creation. In order to maintain sufficient liquidity to meet the financial needs of at least twelve months, a longterm financing policy was established by entering into framework agreements or similar agreements with organizations such as the Official Credit Institute and the European Investment Bank, in addition to securing short and medium-term credit lines. Also, to be able to honour all the payment commitments derived from its operations, subsidiaries such as Aena Desarrollo Internacional have cash equivalents, short-term deposits recorded under the heading Short-term financial investments Other financial assets, and several credit lines, for solving any liquidity problem that might arise. Risk management focuses on the detailed monitoring of the Group s financial debt maturity calendar, as well as the proactive management and maintenance of credit lines that enable meeting predicted needs for liquidity. Lastly, the Group systematically performs cash flow forecasts for the purpose of assessing the needs for cash equivalents. This liquidity policy ensures fulfilment of acquired payment commitments without the need to resort to obtaining funds in costly conditions, which enables maintaining continual liquidity. c) Credit risk The risk variable is the creditworthiness of the counter- Annual report

89 Legal information Management Report party, so Aena aims to focus on minimizing the risk of default by the counterparties without price penalization. The parent company keeps its cash and liquid assets at financial institutions with high credit ratings. In the financial year 2009, the parent company engaged in derivatives transactions. d) Exchange rate risk The subsidiary Aena Desarrollo Internacional is subject to fluctuations in exchange rates that may affect its sales, income, equity and cash flow. Therefore, the company has a financial hedging instrument for cash flows affected by variations in exchange rates. 8.1 CONTROL MEASURES AND COST REDUCTIONS Directorate of spanish airports The plans put in place in 2008 to optimize and reduce costs were carried on in 2009, leading to a savings of more than 36 million euros with respect to the initial 2009 budget. The reduction applied to virtually all areas of expenditure, with special impact on the items of repair and conservation, cleaning, energy, private security, technical support, communications, publicity and parking management. Noteworthy among the measures taken was the introduction of the concept of variable spending depending on traffic, negotiating economic conditions with service providers, policies for optimizing resources, postponing non-essential actions and greater control of fixed costs. Directorate of Air Navigation An objective of Air Navigation is to improve its economic efficiency and financial viability. In 2009 actions were carried out to this end in the following areas: Promotion of better practices and cost containment plan: guidelines were established in Coena and a first step was taken to prepare the PO 2010; nonetheless, more progress is projected for Establishment of measures for cost reduction: guidelines were established in Coena, and a first step was taken to prepare the PO 2010; nonetheless, more progress is projected for Implementation of new rules and model for airport charges: unitary prices and rates formula were changed in the Law on Budgets for Adaptation of costs model and billing system to the new environment which includes private airports, and separation of accounts of Aena units: this is a continual process for which, in 2009, systems were adapted and the Costneg tool was developed DISCOUNT IN RATES In order to support the air transport industry and favour tourism, the government established the following discounts in airport charges: 1. A 100% discount in the payment of passenger charges for airlines that in the second semester of 2009 carried more passengers than in the same semester the previous year, throughout Aena 2. Increase from 15% to 30% on the islander discounts for mainland flights in landing, passenger and security charges, in the Canary Islands, Balearic Islands and Melilla, from July 1st to December 31st Annual report 2009

90 Legal information Management Report 3. Also, as of October 25th 2009 a new 50% discount was applied to landing and passenger charges on European Community and international flights, during off-peak days of the week at all Canary Island airports. This measure is designed to capture air traffic not originating in the Canary Islands, particularly European Community and international passengers. These discounts on airport charges entailed 23.6 million euros less revenue for Aena INCOME FROM SALES In the month of June 2009, as part of the organizational modifications enacted and for the purpose of boosting retail activity and income, the Directorate of Commercial Spaces and Services was integrated into the Directorate of Spanish Airports. The following are the most outstanding actions carried out in 2009 with regard to retail infrastructure development: Barcelona Airport s new Terminal 1 was launched in June 2009 opening a shopping area of approximately 26,000 m2: 8,427 m2 for dining, 6,459 m2 for shops, m2 for duty-free shops, 6,605 m2 for VIP lounges, 2,583 m2 for the Business Centre, 5 car hire points and a VIP car park. The shopping area of Fuerteventura Airport was remodelled in April 2009: 11 new retail outlets in 2,000 m2 of new shopping space. The first phase of the remodelling of Ibiza Airport s shopping are was completed in May 2009: 8 new retail outlets in nearly 1,000 m2 of newly renovated shopping space. Construction at Malaga Airport, pertaining to the opening of the New Terminal Area, projected for March 2010 In May 2009 a property assignment contract was signed with Cessna for a 61,805 m2 plot at Valencia Airport (34,589 m2 of land zoned for development and m2 of paved surface). The development of an industrial area at Jerez Airport for the installation of aeronautical companies began in July 2009 with the assignment of 15,000 m2 to the company Atlántica Composite S.A. In 2009 Aena s income from sales decreased by 5.7% from the previous year (34.78 million euros less), totalling million euros. Considering the fact that traffic fell by 8% in 2009, the sales revenue per passenger ratio was 3.08 euros, which entailed a 2.52% increase over the previous year. In general terms, it is important to underscore the contribution of the 2009 sales revenues of the network s seven major airports (Madrid-Barajas, 26.7%; Barcelona, 17.5%; Palma de Mallorca, 8%; Malaga, 7.8%; Alicante, 5.7%; Tenerife Sur, 4.6% and Gran Canaria, 4.4%), which entailed almost 75% of the total. Moreover, the processes and procedures conducted by airport managers to control business income were redefined. This action allows improving the control and monitoring of retail activity. 9. PEOPLE Since people are the organization s greatest asset, Aena s basic objectives in this area are as follows: to improve personal development; to increase personal mo- Annual report

91 Legal information Management Report tivation and satisfaction; to increase safety through occupational risk prevention; to improve administrative procedures and management control in the human resources area and to automate the human resources management systems. Significant events in 2009 included the negotiation and eventual signing on July 17th 2009 of Aena s 5th collective bargaining agreement, which will be in force until December 31st The principal novel features of this agreement are: Standardization of the internal and external selection processes. Inclusion of a clause for application to the organizations that may be created in future, in anticipation of Aena s new management model. Description of an equality plan and new measures for work and family balance RECRUITMENT The main actions carried out consisted in posting job openings for university graduates and non-graduates at different workplaces to be filled through external recruitment or in-house staff members. Specifically, 256 job openings were posted for university graduates and 705 for non-graduates HUMAN RESOURCES MANAGEMENT SYSTEMS The following noteworthy improvements were implemented: Decentralization of the Social Security contributions at the airports. Integration between SAP and RED of the needed functions for online reporting to Social Security about temporary sick leaves. 9.1 STAFF Aena s permanent staff on December 31st 2009 consisted of 11,493 workers, 6,749 of whom belong to Airports, 4,145 to Air Navigation (2,357 controllers) and 599 to Corporate Units. The public employment offer approved by Aena in 2009 comprised 185 jobs, covering 100% of fire-fighting service and air traffic controller vacancies since it is considered that these jobs directly affect aviation safety, and 30% of vacancies in the remaining collectives, as is required in the Law on General State Budgets for Moreover, 13 jobs were reserved for disabled persons, in keeping with the measures aimed at integrating persons with disabilities according to the terms of the provisions of article 59 of Law 7/2007 of the Public Employment Statute, of April 12 th. The hours and shifts management system was enhanced with tools that improve daily performance and subsequent use of the information, such as planning shifts for the preparation of work schedules. In order to continue providing the employee website with content that facilitates management tasks for human resources directors as well as for employees, the prototype phase of a scenario for requesting leave and holidays was implemented at various centres The rules and procedures for all these automation measures were reflected in the management guidebooks begun in Subsequently, any training and support sessions necessary for the correct application of the new functions were provided at the workplaces through the user services centre. Proper improvements were made in the travel expenses 286 Annual report 2009

92 Legal information Management Report system for the application of the new travel policy for Aena employees. In this regard, total expenses of secondment were reduced by 25% as compared to Further reductions were made in the number of hours (1.5% less than in 2008), and the absentee rate (7.4% down from 2008) ORGANIZATIONAL AREA The following actions can be highlighted: Using criteria of efficiency and cost containment, progress continued to be made to develop Aena s organizational structure in order to align it with the new demands on the company. Thus, efforts were made to begin to adapt the organizational structures of the workplaces to the requirements arising from the implementation of the Safety Management System. The Performance Management System was consolidated as a fundamental tool for evaluating the objectives and results of our professionals, with direct consequences regarding compensation, promotion and training. Not only does this system entail a change in management, but also a cultural change and a way of working based on accountability that necessarily originates greater commitment to the organization s objectives. New steps forward are being taken to improve the procedures and mechanisms of the current performance management control system, which allows identifying and analyzing problems, monitoring them and proposing solutions to improve management TRAINING The training activity was coordinated by three training units: Training Division, Professional Development Division (Air Navigation) and Executive Development Division. The total number of hours of training provided amounted to 329,577 hours. 94% of personnel attached to these units received at least one training course (counting the online courses). The expenses directly associated with the training activities of the three units added up to 3.3 million euros. As in previous years, Aena benefited from the FTFE (Tripartite Foundation for On-the-Job Training) for needed training plans in The Spanish unemployment office granted Aena a subsidy of 1,147,879 euros for 2009, which were deducted from the Social Security contributions, and represented approximately 34% of the cost incurred in training over the year. The most significant endeavours in the training area in 2009 are enumerated below: The following online courses were taught: Safety Management System and Basic course for personnel of local security office. The courses taught in classrooms were Assessment of Accidents and Incidents and Supervision of Airport SMS, for those in charge of airport operational safety. The first courses for in-house monitors were taught. The Barcelona Technical Training Centre was opened, and the first specific training courses were given to airport maintenance personnel. The first training courses with Sila (simulator of airport electrical systems) were taught at classrooms located in Madrid-Barajas Airport. The training associated with the Barcelona Plan Annual report

93 Legal information Management Report was completed and the training associated with the Malaga Plan began. In the area of Air Navigation the technical operations training plan was set in motion; the manuals and CBT were designed and developed for the basic training pertaining to the plan. Furthermore, the training activity On-the-Job Learning was given as part of training for control professionals. And the online course On-the-Job Supervision was designed and developed. In the realm of executive and managerial development, it is of note that within the area of airport security, the specific training course Advanced Course for Company Security Directors was given to provide Aena security directors with security management skills CORPORATE BENEFITS AND SOCIAL PROJECTS The Corporate Benefits and Social Projects area continued to implement new social projects during the year 2009, notably: The project Solidarity Space, which consisted in assigning stands free of charge in the public areas of airports to social welfare groups (NGOs, foundations and associations), so they could publicize their campaigns and share their information and missions in a populous environment. During 2009 the solidarity spaces of Madrid-Barajas, Valencia, Malaga and Palma de Mallorca were used for 211 days. Implementation of the volunteer programme through the Employee Service Programme (PAE). Volunteer projects were undertaken in conjunction with the Luis Vives shelter in Vicálvaro (Madrid). Holding Solidarity Days for the second time, in conjunction with all Aena s centres in Madrid (5 participating centres and 15 organizations invited to the event) in June and December respectively (two days in June and three in December). Also, Aena continued its addictive behaviour treatment and prevention programme and its emotional support and health education programmes. Of special note here is Aena s ongoing collaborative agreement with Proyecto Hombre (an organization promoting the prevention of substance abuse) to foster information, prevention and education in this field. In the development of the work and family balance policy the employee service programme provided support on 2,800 occasions during Also in this sphere a summer camp was organized in conjunction with the Aena centres in Madrid. More than 100 children participated in the camp, which was compatible with the summer work schedule of Aena employees. Agreements were established with different organizations involved with the disabled. The organizations that benefit from these agreements made pursuant to the Law on Integration of Persons with Disabilities were: Afanias, Asociación Danza Down, Fundación Dales la Palabra, Asociación A Toda Vela, Apmib and Apsuria. In conjunction with these organizations the first social month was scheduled, and social, cultural and sport activities with persons with disabilities were held in October and November An increased benefit of the life insurance and accident policy went into effect on September 1st 2009, as coverage for severe disablement was included. With regard to the pension plan, during 2009 Aena made contributions worth 6.06 million euros and benefit payments totalling 1.7 million euros. At year-end the final balance of the pension plan amounted to 288 Annual report 2009

94 Legal information Management Report million euros and there were 10,684 beneficiaries. The pension plan has become a joint enterprise with the holding companies Aena Desarrollo Internacional and Centros Logísticas Aeroportuarios ENDEAVOURS REGARDING HUMAN RESOURCES IN AIR NAVIGATION The endeavours of this programme are geared toward achieving improved productivity by agreeing on changes in the framework for negotiating new collective bargaining agreements in general and specifically that of controllers. They are simultaneously aimed at improving the management and professional development of Air Navigation employees. The programme embraces the implementation of the European rules, the current financial situation of the industry and worldwide, and the integration of a possible new Aena model. Improved productivity Improvement of attendance: as of December 1st 2009 all Air Navigation employees must clock in when arriving and leaving. Negotiation of compensation associated to productivity in Aena s 5th collective bargaining agreement: the negotiation of Aena s 5th collective bargaining agreement included discussion about the possibility of reinforcing strategic goal deployment for nonmanagerial personnel. Several rounds of negotiation were held for the II CC Control under the premises of increased productivity and cost containment, and increased flexibility in the management of the processes of recruitment, professional careers, collective bargaining, work organization, work hours and breaks, and economic compensation. Professional Development In 2009 the internal processes for concluding the transitory phase of organizing the controller staff into groups were performed at the control centres of Madrid and Barcelona. In 2009 the training associated with the professional career and language skills of controllers was offered for certain controller positions. Throughout 2009 the courses for maintenance personnel by areas were designed (SES qualification series ). They will begin to be offered at a later date. Improved Management In the first semester of 2009 several sessions were held at central services of Air Navigation and in its 5 regional directorates to instil concepts of financial and human resources management. In 2009 the round of visits to the 5 regional directorates to draw up a specific report on the strengths and weaknesses of the shift-scheduling process was concluded. 10. FORESEEABLE PROSPECTS Despite the downturn in passenger traffic and operations which took place during the financial year, along with the slump in air traffic worldwide, the Group s prospects of long-term growth are satisfactory in all its lines of business owing to the anticipated growth of the activities pertaining to them. This will enable carrying out the investment plan commissioned by the Ministry of Public Works and Transport to achieve the objectives of quality, safety, performance and competitiveness of the Spanish air transport infrastructures with the high standards required for the socioeconomic development the country needs. Annual report

95 Legal Information Consolidated Financial Statements Consolidated Financial Statements Entidad pública empresarial Aeropuertos Españoles y Navegación Aérea y sociedades dependientes Consolidated Financial Statements for the year ended 31 December 2009 and Directors Report Translation of a report originally issued in Spanish based on our work performed in accordance with generally accepted auditing standards in Spain and of consolidated financial statements originally issued in Spanish and prepared in accordance with generally accepted accounting principles in Spain (see Notes 2 and 20). In the event of a discrepancy, the Spanish-language version prevails. CONSOLIDATED BALANCE SHEETS AT 31 DECEMBER 2009 AND 2008 (THOUSANDS OF EUROS) ASSETS NOTES Non-current assets: Intangible assets- Nota 5 282, ,341 Development expenditure 86,620 25,075 Computer software 123, ,601 Other intangible assets 72, ,665 Property, plant and equipment- Nota 6 15,876,444 15,080,629 Land and buildings 10,120,382 9,033,535 Plant and other items of property, plant and equipment 3,058,281 2,394,389 Property, plant and equipment in the course of construction and advances 2,697,781 3,652,705 Investment property- Nota 7 90,805 93,732 Buildings 87,938 90,780 Plant 2,867 2,952 Non-current investments in associates- Nota ,758 74,605 Investments accounted for using the equity method 79,758 74,605 Non-current financial assets Nota ,570 61,181 Deferred tax assets Nota , ,865 Total non-current assets 16,912,521 15,950,353 Current assets: Inventories Nota 11 5,906 5,848 Trade and other receivables- 505, ,633 Trade receivables for sales and services 374, ,306 Companies accounted for using the equity method Nota ,532 10,715 Sundry accounts receivable 719 8,251 Employee receivables 2,103 1,964 Current tax assets Nota ,677 16,038 Other accounts receivable from public authorities Nota ,072 73,359 Current financial assets- Nota ,620 37, Memoria 2009

96 Legal Information Consolidated Financial Statements CONSOLIDATED BALANCE SHEETS AT 31 DECEMBER 2009 AND 2008 (THOUSANDS OF EUROS) ASSETS NOTES Loans to companies 3,882 2,571 Other current financial assets 12,738 34,900 Current prepayments and accrued income 8,564 8,135 Cash and cash equivalents 14,030 10,725 Total current assets 550, ,812 Total assets 17,463,088 16,510,165 BALANCES DE SITUACIÓN CONSOLIDADOS A 31 DE DICIEMBRE DE 2009 Y 2008 (MILES DE EUROS) EQUITY AND LIABILITIES NOTES Equity: Shareholders' equity- Nota 12 3,321,993 3,698,903 Equity 3,099,018 3,099,018 Reserves of the parent- 555, ,834 Legal and bylaw reserves 479, ,044 Other reserves 277, ,457 Retained losses (201,870) (36,667) Reserves at consolidated companies (443) 7,137 Reserves at companies accounted for using the equity method 13,349 10,395 Loss for the year attributable to the parent- (345,860) (159,481) Consolidated loss (343,908) (153,213) Loss attributable to minority interests (1,952) (6,268) Valuation adjustments- (6,284) (8,201) Hedges Nota 10 1,221 1,045 Translation differences of companies accounted for using the equity method Nota 12 (7,505) (9,246) Grants, donations or gifts and legacies received Nota , ,316 Minority interests Nota 12 13,496 18,126 Total equity 3,751,243 4,092,144 Non-current liabilities: Long-term provisions- Nota , ,668 Provisions for long-term employee benefit obligations 410, ,487 Provisions for environmental costs 97,433 52,507 Other provisions 19,511 22,674 Non-current payables- Nota 14 10,160,928 9,014,892 Bank borrowings and other financial liabilities 10,155,044 9,008,975 Obligations under finance leases 3,031 3,450 Derivatives Nota Other financial liabilities Nota 14 2,710 2,358 Deferred tax liabilities Nota , ,087 Non-current accruals and deferred income 1,289 1,351 Total non-current liabilities 10,898,850 9,673,998 Current liabilities: Short-term provisions Nota , ,753 Current payables- 2,125,930 2,010,750 Bank borrowings and other financial liabilities Nota 14 1,029, ,894 Obligations under finance leases Nota Other financial liabilities 1,095,782 1,287,856 Current payables to group companies and associates- - 2,000 Annual report

97 Legal Information Consolidated Financial Statements BALANCES DE SITUACIÓN CONSOLIDADOS A 31 DE DICIEMBRE DE 2009 Y 2008 (MILES DE EUROS) EQUITY AND LIABILITIES NOTES Payable to companies accounted for using the equity method Nota 9.2-2,000 Trade and other payables- 439, ,498 Payable to suppliers 16,676 14,765 Payable to suppliers - companies accounted for using the equity method Nota 9.2 1, Sundry accounts payable 239, ,539 Remuneration payable 87,421 78,562 Current tax liabilities Nota ,758 3,093 Other accounts payable to public authorities Nota ,901 56,789 Customer advances 37,268 48,773 Current accruals and deferred income Total current liabilities 2,812,995 2,744,023 Total liabilities 17,463,088 16,510,165 The accompanying Notes 1 to 20 are an integral part of the consolidated balance sheet at 31 December CONSOLIDATED INCOME STATEMENTS FOR 2009 AND 2008 (THOUSANDS OF EUROS) CONTINUING OPERATIONS NOTES Continuing operations Revenue Nota 16.A 2,991,389 3,112,683 In-house work on non-current assets 58,076 72,341 Procurements Nota 16.B (114,134) (131,405) Cost of raw materials and other consumables used (202) (1,340) Work performed by other companies (113,926) (130,065) Losses on impairment of raw materials and other consumables (6) - Other operating income 14,543 13,322 Non-core and other current operating income 12,763 11,905 Income-related grants transferred to profit or loss 1,780 1,417 Staff costs (1,310,631) (1,296,357) Wages, salaries and similar expenses (1,098,170) (1,089,715) Employee benefit costs Nota 16.C (202,364) (193,909) Provisions (10,097) (12,733) CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR 2009 AND 2008 B) CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY (THOUSANDS OF EUROS) ASSIGNED EQUITY AND ASSETS BYLAW RESERVES REVALUATION RESERVE R,D,L, 7/1996 OTHER RESERVES OF THE PARENT CONSOLIDATED RESERVES OF THE PARENT RETAINED LOSSES Balance at 2007 year-end 3,099, , ,417-26,848 (26,444) Adjustments due to transition to new spanish national chart of accounts - (349,444) - - (17,743) - Adjusted balance at beginning of Total recognised income and expenses 3,099, , ,417-9,105 (26,444) Dividends paid (11,407) - - Other changes in equity ,956 - Profit (loss) attributable to minority interests (53) - Distribution of 2007 loss (561) (10,223) Balance at 2008 year-end 3,099, , ,417 (11,407) 20,447 (36,667) The accompanying Notes 1 to 20 are an integral part of the consolidated statement of changes in equity at 31 December Annual report 2009

98 Legal Information Consolidated Financial Statements CONSOLIDATED INCOME STATEMENTS FOR 2009 AND 2008 (THOUSANDS OF EUROS) CONTINUING OPERATIONS NOTES Other operating expenses (1,079,168) (982,196) Outside services Nota 16.D (916,546) (855,405) Taxes other than income tax (97,439) (92,902) Losses on, impairment of and change in allowances for trade receivables (40,696) (11,977) Other current operating expenses (24,487) (21,912) Depreciation and amortisation charge Notas 5. 6 y 7 (797,319) (704,322) Allocation to profit or loss of grants related to non-financial non-current assets and other grants 26,737 29,859 Excessive provisions 4,862 8,418 Impairment and gains or losses on disposals of non-current assets (16,139) (11,237) Other gains or losses (1,371) (1,073) Profit from operations (223,155) 110,033 Finance income 2,091 2,547 From investments in equity instruments 1, From marketable securities and other financial instruments 864 2,403 Finance costs (284,667) (341,372) On debts to third parties (289,149) (395,875) Interest cost relating to provisions (69,171) (42,822) Capitalisation of finance costs 73,653 97,325 Change in fair value of financial instruments Nota 10 (34) 10 Exchange differences (688) 427 Impairment and gains or losses on disposals of financial instruments - (14,522) Financial loss Nota 16.E (283,298) (352,910) Results of associates accounted for using the equity method Nota ,431 14,558 Loss before tax and investees (492,022) (228,319) Income tax Nota ,114 75,106 Loss for the year from continuing operations (343,908) (153,213) Consolidated loss for the year (343,908) (153,213) Loss attributable to minority interests (1,952) (6,268) Loss attributable to the parent (345,860) (159,481) The accompanying Notes 1 to 20 are an integral part of the consolidated income statement at 31 December RESERVES OF FULLY CONSOLIDATED COMPANIES RESERVES OF COMPANIES ACCOUNTED FOR USING THE EQUITY METHOD CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR 2009 AND 2008 B) CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY (THOUSANDS OF EUROS) TRANSLATION DIFFERENCES PROFIT (LOSS) FOR THE YEAR ATTRIBUTABLE TO THE PARENT VALUATION ADJUSTMENTS GRANTS, DONATIONS OR GIFTS AND LEGACIES RECEIVED MINORITY INTERESTS TOTAL EQUITY 35,967 6,284 (29,714) 3, ,233,904 (28,471) 2,413 29,714-1, ,992 17,632 (5,366) ,496 8,697-3,040 1, ,992 17,632 4,228, (159,481) (496) 43,640 6,268 (121,476) (3,429) (8,527) (5,869) (5,869) (363) (166) - - (9,246) (9,049) 3,433 10,391 - (3,040) ,137 10,395 - (159,481) (8,201) 383,316 18,126 4,092,144 Annual report

99 Legal Information Consolidated Financial Statements CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR 2009 AND 2008 B) CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY (THOUSANDS OF EUROS) ASSIGNED EQUITY AND ASSETS BYLAW RESERVES REVALUATION RESERVE R,D,L, 7/1996 OTHER RESERVES OF THE PARENT CONSOLIDATED RESERVES OF THE PARENT RETAINED LOSSES Changes in accounting policies Adjusted balance at beginning of ,099, , ,417 (11,407) 20,447 (36,667) Total recognised income and expenses (17,314) - - Dividends paid ,901 - Other changes in equity - (16,127) - - 2,806 - Distribution of 2008 loss (6,968) (165,203) Balance at 2009 year-end 3,099, , ,417 (28,721) 33,186 (201,870) The accompanying Notes 1 to 20 are an integral part of the consolidated statement of changes in equity at 31 December CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR 2009 AND 2008 A) CONSOLIDATED STATEMENTS OF RECOGNISED INCOME AND EXPENSE (THOUSANDS OF EUROS) NOTES A) Loss per income statement (343,908) (153,213) Income and expenses recognised directly in equity Arising from cash flow hedges Nota Grants, donations or gifts and legacies received Nota 12.g 32,530 92,141 Arising from actuarial gains and losses and other adjustments Nota 13.1.a (24,735) (16,295) Translation differences Nota 9.1 1,741 - Tax effect (2,463) (22,754) B) Total income and expenses recognised directly in equity 7,484 53,092 Transfers to profit or loss Arising from cash flow hedges Nota 10 (160) (709) Grants, donations or gifts and legacies received Nota 12.g (26,737) (29,859) Tax effect 8,072 9,213 C) Total transfers to profit or loss (18,825) (21,355) Total recognised income and expense (A + B + C) (355,249) (121,476) The accompanying Notes 1 to 20 are an integral part of the consolidated statement of changes in equity at 31 December CONSOLIDATED STATEMENTS OF CASH FLOWS FOR 2009 AND 2008 (THOUSANDS OF EUROS) EJERCICIO 2009 EJERCICIO 2008 Cash flows from operating activities (I) 170, ,188 Loss for the year before tax (492,022) (228,319) Adjustments for: 1,129,660 1,078,248 - Depreciation and amortisation charge 797, ,322 - Impairment losses 40,181 14,481 - Changes in provisions 124,089 83,254 - Recognition of lease premium (23) (22) - Recognition of grants in profit or loss (26,737) (30,007) - Gains/losses on derecognition and disposal of non-current assets 16,170 12,357 - Finance income (2,076) (26,007) - Finance costs 261, ,453 - Exchange differences Annual report 2009

100 Legal Information Consolidated Financial Statements RESERVES OF FULLY CONSOLIDATED COMPANIES RESERVES OF COMPANIES ACCOUNTED FOR USING THE EQUITY METHOD CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR 2009 AND 2008 B) CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY (THOUSANDS OF EUROS) TRANSLATION DIFFERENCES PROFIT (LOSS) FOR THE YEAR ATTRIBUTABLE TO THE PARENT VALUATION ADJUSTMENTS GRANTS, DONATIONS OR GIFTS AND LEGACIES RECEIVED MINORITY INTERESTS TOTAL EQUITY ,666-34,666 7,137 10,395 - (159,481) (8,201) 417,982 18,126 4,126, (345,860) 1,917 4,056 1,952 (355,249) (6,771) (10,130) (6,657) (6,657) (1,053) (13,661) , , (443) 13,349 - (345,860) (6,284) 422,038 13,496 3,751,243 CONSOLIDATED STATEMENTS OF CASH FLOWS FOR 2009 AND 2008 (THOUSANDS OF EUROS) EJERCICIO 2009 EJERCICIO Changes in fair value of financial instruments 34 (10) - Other revenues and expenses (95,925) - - Results of associates accounted for using the equity method 14,431 - Changes in working capital (94,124) 2,945 - Inventories (64) 1,171 - Trade and other receivables 43,624 (29,555) - Other current assets 1,461 11,400 - Trade and other payables (130,493) 14,030 - Other current liabilities (8,652) 5,899 Other cash flows from operating activities (373,338) (398,686) - Interest paid (368,654) (414,580) - Dividends received 1, Interest received 928 7,025 - Income tax recovered (paid) (6,839) 8,725 Cash flows from investing activities (II) (1,686,812) (2,084,199) Payments due to investment (1,715,729) (2,123,536) - Intangible assets (89,440) (93,058) - Property, plant and equipment (1,626,165) (2,030,053) - Other financial assets (124) (425) Proceeds from disposal 28,917 39,337 - Intangible assets - 1,573 - Property, plant and equipment 1,313 15,588 - Other financial assets 27,604 22,176 Cash flows from financing activities (III) 1,520,629 1,628,877 Proceeds and payments relating to equity instruments 33,782 92,141 - Grants, donations or gifts and legacies received 33,782 92,141 Proceeds and payments relating to financial liability instruments 1,486,847 1,536,736 - Proceeds from issue of bank borrowings 1,850,000 1,786,429 - Repayment of bank borrowings (354,351) (175,011) - Repayment of borrowings from associates (2,000) 2,000 - Other (6,802) (76,682) Effect of foreign exchange rate changes (IV) (688) 110 Net increase/decrease in cash and cash equivalents (I+II+III+IV) 3,305 (1,024) Cash and cash equivalents at beginning of year 10,725 11,749 Cash and cash equivalents at end of year 14,030 10,725 Las notas 1 a 19 descritas en la Memoria adjunta forman parte integrante del estado de flujos de efectivo consolidado correspondiente al ejercicio Annual report

101 Legal Information Consolidated Financial Statements 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 effectively 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 civilian 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 aeronautical telecommunications system facilities and networks, navigation aids and air traffic control. 4. The design, execution, management and control of investments in aeronautical telecommunications 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 infrastructure 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 different object. Services were first provided at Spanish airports in November 1991, and the provision of services relating to navigation aids and air traffic control commenced in November 1992, when the formation of the Entity was completed. Aena is currently in the process of developing a new airport management model, the main components of which are as summarised: - Aena remains a public law entity with air navigation competencies, and is guaranteed the mechanisms required to carry out its obligations in relation to the security, continuity, competitiveness and efficiency of the service, and the organisation of the work and an increase in its productivity. - Creation of the state company, Aena Aeropuertos, S.A. to be responsible for the management of the current airport network, in which Aena will hold at least 70% of the share capital. This company will basically be competent to render all airport services (except 296 Annual report 2009

102 Legal Information Consolidated Financial Statements airport navigation services or those relating to other state agencies such as customs or security, for example), manage and maintain the airport infrastructure corresponding to its scope of management, plan and execute new infrastructure required by airports, manage public domain or state-owned assets composing the airport and, consequently, manage all commercial services and grant the instruments authorising these services to be rendered by third parties. - Creation of management subsidiaries with the same competencies as Aena Aeropuertos, S.A. in airports that have a high volume of traffic and are particularly complex to manage, provided that it is economically and financially feasible, with participation in the Board of Directors of autonomous community and local governments and chambers of commerce and in which Aena Aeropuertos, S.A. will own the share capital and will continue to be assigned the assets and the debt. The Entity s registered office is in Madrid, at calle Arturo Soria, 109. Also, the Entity heads the Group composed of various companies engaging mainly in the management of airport infrastructure and consulting and engineering projects, particularly those relating to transport and its infrastructure. Scope of consolidation The list of subsidiaries and associates, together with the carrying amount of the ownership interests, in thousands of euros, relating thereto is as follows: COMPANY AND REGISTERED OFFICE LINE OF BUSINESS DIRECT OWNERSHIP INTEREST % CARRYING AMOUNT OF INDIRECT INVESTMENT OWNER OF INVESTMENT CONSOLIDATION METHOD SUBSIDIARIES: Aena Desarrollo Internacional, S.A. (a) Arturo Soria, 109 Madrid Centros Logísticos Aeroportuarios, S.A. (CLASA) (b) Edificio de Servicios Generales Aeropuerto de Madrid - Barajas Madrid Operation, maintenance, management and administration of airport infrastructure and supplementary services. Development, construction, management, operation and maintenance of air cargo centres or equivalent centres at airports, and also as many commercial activities as are directly or indirectly related thereto Aena Fully consolidated 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 improving 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 10, Aena Indirecto Ineco Fully consolidated Annual report

103 Legal Information Consolidated Financial Statements COMPANY AND REGISTERED OFFICE LINE OF BUSINESS DIRECT OWNERSHIP INTEREST % CARRYING AMOUNT OF INDIRECT INVESTMENT OWNER OF INVESTMENT CONSOLIDATION METHOD SUBSIDIARIES: 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 economic and corporate studies, industrial engineering, civil engineering and environmental engineering, particularly relating to transport and its infrastructure. 61, Aena Fully consolidated COMPANY AND REGISTERED OFFICE LINE OF BUSINESS DIRECT PARTICIPACIÓN % CARRYING AMOUNT OF INDIRECT INVESTMENT OWNER OF INVESTMENT CONSOLIDATION METHOD SOCIEDADES ASOCIADAS Restauración de Aeropuertos Españoles S.A. (Raesa) (a) Aeropuerto de Madrid- Barajas Madrid Aeropuertos Mexicanos del Pacífico S.A. de CV (AMP) (a) México DF ociedad Aeroportuaria de la Costa S.A. (Sacsa) (a) Aeropuerto Rafael Núñez Cartagena de Indias Colombia Aeropuertos del Caribe, S.A. (Acsa) (a) Aeropuerto Ernesto Cortissoz Barranquilla Colombia Aerocali, S.A. (b) Aeropuerto Alfons Bonilla Aragón Cali Colombia Operation of catering services at Madrid-Barajas airport. Operator of Grupo Aeroportuario del Pacífico (GAP) airports. 48, Aena - 33, Operation of Cartagena airport. - 37, Operation of Barranquilla airport Operation of Cali airport. - 33, Aena Desarrollo Internacional Aena Desarrollo Internacional Aena Desarrollo Internacional Aena Desarrollo Internacional Equity method Equity method Equity method Equity method Equity method Tecnología e Investigación Ferroviaria, S.A. (Tifsa) (a) Paseo de la Habana, 138 Madrid Technological research and development, consulting services and technical assistance relating to the rail transport industry. - 29, Ineco Equity method (a) Information obtained from the 2008 financial statements under preparation. (b) Information obtained from the audited 2008 financial statements. At 31 December 2009, none of these companies was listed on the stock market. 298 Annual report 2009

104 Legal Information Consolidated Financial Statements 2. BASIS OF PRESENTATION A) FAIR PRESENTATION The consolidated financial statements for 2008 were presented by the Chairman and General Manager of the Parent from the accounting records of Entidad Pública Empresarial Aeropuertos Españoles y Navegación Aérea (AENA) and of its subsidiaries (see Note 1), whose respective financial statements are prepared by the directors of each company and are presented in accordance with Royal Decree 1514/2007 approving the Spanish National Chart of Accounts and other applicable accounting legislation and, accordingly, they present fairly the Group s consolidated equity and financial position, the results of its operations and its consolidated cash flows. These consolidated financial statements will be submitted for approval by the Board of Directors of the Parent and it is considered that they will be approved without any changes. The financial statements for 2008 were approved by the Board of Directors of the Parent at the meeting held on 24 June B) NON-OBLIGATORY ACCOUNTING PRINCIPLES APPLIED These consolidated financial statements were prepared by taking into account all the obligatory accounting principles and standards with a significant effect hereon. All obligatory accounting principles were applied C) ) 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 obligations 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) Revenue and the costs associated with contracts for the provision of services (see Note 4). The assumptions used in the actuarial calculation of the liabilities for obligations to employees (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 2009 year-end, events that take place in the future might make it necessary to change these estimates (upwards or downwards) in coming years. Changes in accounting estimates would be applied prospectively. In this regard, Royal Decree-Law 1/2010, of 5 February, regulating the provision of air traffic services, stipulating the obligations of civil providers of the aforementioned services, and setting specific working conditions for civil air traffic controllers, provides, inter alia, that until three years from its entry into force have elapsed, the right to receive the Special Paid Leave (Licencia Especial Retribuida) is suspended, and no further employees may avail themselves of the aforementioned situation, whether it has been already requested or not. In addition, the bill which will regulate the pro- Annual report

105 Legal Information Consolidated Financial Statements vision of air traffic services is currently being drafted, and its content could significantly affect the regime applicable to Special Paid Leave. At 31 December 2009, the Group had a working capital deficiency of EUR 2,262 million and a loss for the year of EUR 344 million. In order to meet its investment commitments and settle its liabilities, the Group has credit lines and undrawn loans of EUR 1,674 million (see Note 14), in addition to the cash flows that will be generated in 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 Parent may opt to arrange supplementary financing of EUR 600 million subject to the EIB s positive assessment of the projects for which the financing is requested. In view of the foregoing, the Parent s directors consider that it will not have any difficulties in fulfilling its obligations. The Group carried out the relevant impairment tests according to the procedure described in Note 4-a, which did not disclose any material impairment losses. D) COMPARATIVE INFORMATION The information relating to 2008 included in these notes to the consolidated financial statements is presented exclusively for comparison purposes with the information for E) 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 obligatory information is broken down in the related notes to the consolidated financial statements. F) CHANGES IN ACCOUNTING POLICIES In 2009 the Parent recognised an increase of EUR 34,666 thousand in the EU grants recognised in equity, 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. G) CORRECTION OF ERRORS The Parent recognised adjustments of EUR 13,082 thousand in the accompanying financial statements for the following items: - The impact of filing supplementary income tax returns for prior years in 2009, which gave rise to a negative adjustment in equity of EUR 9,412 thousand (see Note 13.1). - The difference between the provision for income tax payable recognised in 2008 and the income tax return that was finally settled in Consequently, equity decreased by EUR 3,670 thousand (see Note 13.1). 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 are 300 Annual report 2009

106 Legal Information Consolidated Financial Statements deemed to be subsidiaries. The financial statements of the subsidiaries are fully consolidated. In 2009 Ingeniería y Economía del Transporte S.A., Centros Logísticos Aeroportuarios S.A., Aena Desarrollo Internacional S.A. and Centro de Referencia Investigación, Desarrollo e Innovación ATM, A.I.E. were in this position. 2. Companies over which the Entity has the capacity to exercise significant influence are deemed to be associates. These companies are accounted for using the equity method. In 2009 Restauración de Aeropuertos Españoles S.A., Tecnología e Investigación Ferroviaria S.A., Aeropuertos Mexicanos del Pacífico S.A. de CV, Aeropuertos del Caribe S.A., Sociedad Aeroportuaria de la Costa S.A. and Aerocali S.A. were in this position. In all cases the financial statements of the Group companies used in the process of consolidation are those for the year ended 31 December 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 consolidation for each subsidiary was deemed to be that on which it joined the Group. The date of first-time consolidation for the subsidiary CRIDA, which was consolidated for the first time after the date of transition, was deemed to be the date on which control was obtained. Balances and transactions between companies included in the scope of consolidation Material transactions and accounts receivable and payable between Entidad Pública Empresarial Aeropuertos Españoles y Navegación Aérea (AENA) and its subsidiaries at 31 December 2009 were eliminated on consolidation. Standardisation of accounting principles In 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 interests The 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 Minority Interests in the accompanying 2009 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 reporting 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. 3. Income-statement items were translated at the average exchange rate for the year. 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 Annual report

107 Legal Information Consolidated Financial Statements included under Equity Valuation Adjustments in the accompanying balance sheet at 31 December % Development expenditure 25 Computer software Other intangible assets I) CHANGES IN THE SCOPE OF CONSOLIDATION In 2009 there were no changes to the scope of consolidation. 3. ALLOCATION OF LOSS The allocation of the loss for 2009 submitted by the Chairman General Manager of the Company, per the bylaws, is as follows: BASIS OF ALLOCATION: Loss for the year APPROPRIATION TO: Retained losses THOUSANDS OF EUROS 4.MEASUREMENT BASES (352,899) (352,899) The principal measurement bases applied by the Company and its Subsidiaries (AENA Group) in preparing their consolidated financial statements for 2009, in accordance with the Spanish National Chart of Accounts, were as follows: A) INMOVILIZACIONES INTANGIBLES 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: Development expenditure, specifically itemised by project, which is, or will foreseeably be economically 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 programmes. Computer software maintenance costs are recognised with a charge to the income statement for the year in which they are incurred. The Parent capitalises mainly its airports Master Plans and the related studies under Other Intangible Assets, which are amortised over eight years. The same policies as those indicated for property, plant and equipment are also applicable in relation to the capitalisation of finance costs, in-house work, replacements or renewals and the recognition of gains or losses on disposals. The gain or loss arising from the disposal of an asset is calculated as the difference between the sale price and carrying amount of the asset and is recognised in the income statement. The charge to the 2009 consolidated income statement relating to the amortisation of intangible assets amounted to EUR 41,845 thousand (EUR 48,161 thousand in 2008)(see Note 5). 302 Annual report 2009

108 Legal Information Consolidated Financial Statements Impairment of intangible assets and property, plant and equipment Whenever 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 intangible 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. Cashgenerating 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. 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 based, are as follows: Earnings projections. Investment and working capital projections. Otras variables que influyen en el cálculo del valor recuperable son: Tipo de descuento a aplicar, entendiendo éste como la media ponderada del coste de capital, siendo las principales variables que influyen en su cálculo, el coste de los pasivos y los riesgos específicos de los activos. Tasa de crecimiento de los flujos de caja empleada para extrapolar las proyecciones de flujos de efectivo más allá del período cubierto por los presupuestos o previsiones. 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. If an impairment loss were to subsequently reverse, the carrying amount of the asset or cash-generating 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 Annual report

109 Legal Information Consolidated Financial Statements been recognised in prior years. Such a reversal of an impairment loss would be recognised as income. In 2009 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 measured 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 considered 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 useful 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: YEARS Buildings Plant Machinery 5-25 Other fixtures 8-20 Furniture Other items of property, plant and equipment 4-17 Additionally, when the realisable value of an asset is less than its carrying amount, and the difference is not considered to be final, an allowance is recognised for the difference. However, if the decrease in value is irreversible the cost of the asset is reduced directly. Upkeep and maintenance expenses are expensed when incurred. The costs of renewals, expansion or improvements leading to increased capacity, productivity or to a lengthening of the useful lives of the assets are capitalised. 304 Annual report 2009

110 Legal Information Consolidated Financial Statements The charge to the 2009 consolidated income statement relating to the depreciation of property, plant and equipment amounted to EUR 752,072 thousand (EUR 653,153 thousand in 2008)(see Note 6). 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. The charge to the 2009 consolidated income statement relating to the depreciation of investment property amounted to EUR 3,402 thousand (EUR 3,008 thousand in 2008)(see Note 7). 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 leases In 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. This amount is the lower of the fair value of the leased asset and the present value, at the inception of the lease, of the agreed minimum lease payments, including the price of the purchase option when it is reasonably certain that it will be exercised. The minimum lease payments do not include contingent rent, costs for services and taxes to be paid by and reimbursed to the lessor. 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. In particular, the subsidiary Aena Desarrollo Internacional arranged a finance lease which meets the abovementioned characteristics, with BBVA acting as the lessor (see the characteristics of the financing in Note 14), the purpose of which is the acquisition of an automated flight inspection system (console), at a cost of EUR 3,551 thousand, which is recognised under Property, Plant and Equipment Other Items of Property, Plant and Equipment in the accompanying consolidated balance sheet at 31 December 2009 (see Note 6). The subsidiary Aena Desarrollo Internacional is depreciating this asset over its estimated useful life, i.e. over approximately ten years. Operating leases Lease income and expenses from operating leases corresponding to the lessee are recognised in the consolidated 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, increased by the costs directly attributable to the lease, which are recognised as an expense over the lease term, applying the same method as that used to recognise lease income. 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. Annual report

111 Legal Information Consolidated Financial Statements E) FINANCIAL INSTRUMENTS E-1) FINANCIAL ASSETS Classification The financial assets held by the Group are classified in the following categories: a) Loans and receivables: financial assets arising from the rendering of services in the ordinary course of the Group s business, or financial assets which, not having commercial substance, are not equity instruments or derivatives, have fixed or determinable payments and are not traded in an active market. The directors of the Company and its subsidiaries do not foresee any problems with regard to the recovery of these assets. b) Held-to-maturity investments: debt securities with fixed maturity and determinable payments that are traded in an active market and which the Group has the positive intention and ability to hold to the date of maturity. The Group had not made any investments of this nature at 31 December c) 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 shortterm profit-taking. This category also includes financial derivatives that are not financial guarantees (e.g. suretyships) and that have not been designated as hedging instruments. d) Deposits and guarantees correspond mainly to the guarantees given to the public authorities of the various autonomous communities by virtue of the Law on Urban Leases and to the deposits given as a result of the compulsory purchases made for the purpose of construction work at various airports. e) 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. 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 recognised in equity are recognised in the net profit or loss for the year. At least at each reporting date the Group tests financial assets not measured at fair value through profit or loss for impairment. Objective evidence of impairment is considered to exist when the recoverable amount of the financial asset is lower than its carrying amount. When this occurs, the impairment loss is recognised in the consolidated income statement. In particular, and with respect to the valuation adjustments relating to trade and other receivables, impairment losses are calculated in order to cover the risks of doubtful debts and insolvency relating to balances of a certain age and for which the related circumstances recommend their classification as doubtful debts. 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 substan- 306 Annual report 2009

112 Legal Information Consolidated Financial Statements tially all the risks and rewards of ownership of the financial asset have been transferred, such as in the case of firm asset sales, sales of financial assets under an agreement to repurchase them at fair value and the securitisation of financial assets in which the transferor does not retain any subordinated debt, provide any kind of guarantee or assume any other kind of risk. However, the Group does not derecognise financial assets and recognises a financial liability for an amount equal to the consideration received in transfers of financial assets in which substantially all the risks and rewards of ownership are retained. E-2) FINANCIAL LIABILITIES e-2) Financial liabilities Financial liabilities include accounts payable by the Group that have arisen from the purchase of goods or services in the normal course of business and those which, not having commercial substance, cannot be classed as derivative financial instruments. Accounts 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 exchange rates. Within the framework of these transactions, the Group has a cash flow hedging instrument as described in Note 10. 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 % 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 determined to be an effective hedge is recognised temporarily in equity and is recognised in the consolidated 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 exercised, 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 Logistics Sup- Annual report

113 Legal Information Consolidated Financial Statements port 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. At the end of each reporting period, monetary assets and liabilities denominated in foreign currencies are translated to euros at the rates then prevailing. 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 expense (deferred tax income). 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 expected 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, except for those arising from the initial recognition of goodwill or of other assets and liabilities in a transaction that is not a business combination and affects neither accounting profit (loss) nor taxable profit (tax loss), and except for those associated with investments in subsidiaries, associates and joint ventures in which the Parent is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. 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 reporting 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 subsid- 308 Annual report 2009

114 Legal Information Consolidated Financial Statements iaries 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. Revenue from the rendering of services is recognised by reference to the stage of completion of the transaction at the end of the reporting period, provided that the outcome of the transaction can be estimated reliably. 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. The necessary administrative authorisation was not obtained for certain staff costs incurred and recognised in 2008 and in prior years. Contracts for the provision of services The revenue from the services contracts of the subsidiary INECO includes the initial amount of the agreed revenue, any amendments to the scope of the work included in the agreement and the amounts related to claims and incentives which are considered likely, provided that the latter can be measured reliably. Also, the costs of these contracts include the costs directly related to the agreement, the costs related to the general activity of the contract which may be charged to the contract and any other cost which may be passed on to the customer under the terms and conditions of the agreement. Contract costs also include those incurred during the negotiation thereof if they can be identified and measured reliably, provided that the client is likely to accept the contract. The revenue and costs of a services contract are recognised by taking into consideration its stage of completion at the reporting date, when the result thereof can be estimated reliably. In this respect: - In fixed price contracts, this circumstance occurs when the amount of revenue, the stage of completion, the attributable costs and those still to be incurred can be measured reliably; the attributable costs can be clearly identified so that the actual costs incurred can be compared with the estimated costs and it is probable that the economic benefits associated with the contracts will flow to the entity. - In cost plus contracts, revenue and expenses are recognised when the costs attributable to the contracts, whether or not specifically reimbursable, can be clearly identified and measured reliably and it is probable that the economic benefits associated with the contracts will flow to the entity. The subsidiary INECO measures the stage of completion of the contracts in accordance with the costs incurred. The changes in forecast contract revenue and expenses are recognised prospectively in the current year and in future years as a change in estimates. Annual report

115 Legal Information Consolidated Financial Statements Expected losses on construction contracts are recognised as an expense immediately. whereby a portion of the risk has been externalised as a result of which the Group is not liable. 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; and. 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. 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 compensation to be received from a third party on settlement of the obligation is recognised as an asset, provided that there are no doubts that the reimbursement will take place, unless there is a legal relationship The main estimates made by the Group were as follows: Provision for taxes Provision for Taxes relates to the amount of tax debts whose exact amount or date of payment cannot be determined yet, since they depend on the fulfilment of certain conditions. Provisions are recognised in accordance with the best estimates available. Provisions for third-party liability Provisions for Third-Party Liability corresponds to the estimated amount required for probable or certain liability arising from litigation in progress and indemnity payments or obligations of undetermined amount. This provision is recognised when the liability arises and in accordance with best estimates based on available information. Provisions for employment benefit obligations acquired The 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. The Group undertakes to make long-term defined contribution and long-term defined benefit payments to its employees. Defined contribution benefits will give rise to liabilities due to benefits when there are accrued contributions payable at year-end. Under defined benefit obligations, the amount of the provision to be recognised is the difference between the present value of the obligations assumed and the fair value of the possible assets relating to the obligations with which the latter will be settled. 310 Annual report 2009

116 Legal Information Consolidated Financial Statements 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 Se considera actividad medioambiental cualquier operación cuyo propósito principal sea prevenir, reducir o reparar el daño sobre el medio ambiente. Environmental activities are those the purpose of which is to prevent, reduce or redress damage 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 outstanding 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 in the case of grants awarded for the construction 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 measured 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. Annual report

117 Legal Information Consolidated Financial Statements 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 2009 and 2008 were as follows: 2009 THOUSANDS OF EUROS Development Expenditure Other Intangible Assets Computer Software Total Cost: Balance at 1 January , , , ,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 , , , ,373 Accumulated amortisation: Balance at 1 January , , , ,660 Amortisation charge ,248-36,807-41,845 Disposals / reductions ,430 20,483 Transfers (Note 6) Balance at 31 December , , , ,813 Net: 86,620 72, , , MILES DE EUROS Development Expenditure Other Intangible Assets Computer Software Total Cost: Balance at 1 January , , , ,969 Additions 13,766 39,404 41,223 94,393 Disposals / reductions ,316-6,096 Transfers (Note 6) -36,503-15,232 3,470-48,265 Balance at 31 December , , , ,001 Accumulated amortisation: Balance at 1 January , , , ,499 Amortisation charge -1,425-13,982-32,754-48,161 Disposals / reductions ,850 4,863 Transfers (Note 6) 1, ,137 Balance at 31 December , , , ,660 Net: 25, , , , Annual report 2009

118 Legal Information Consolidated Financial Statements Main additions The main additions in 2009 and 2008 to Computer Software related to acquisitions and to improvements to and the development of new technology for computer software, in particular in relation to navigation and airport central services. The main additions to Other Intangible Assets in 2009 and 2008 related to technical assistance associated with the Master Plans for Barcelona-El Prat airport. In 2009 the Parent capitalised EUR 5.02 million (EUR 3.04 million in 2008) relating to finance costs incurred during the development period of intangible assets. Fully amortised intangible assets A 31 de diciembre de 2009 existe inmovilizado intangible en uso con un coste original de 276,98 millones de euros (258,55 millones de euros a 31 de diciembre de 2008), que está totalmente amortizado. El detalle de los ejercicios 2009 y 2008 es el siguiente: THOUSANDS OF EUROS Development expenditure 4,396 7,319 Computer software 135, ,390 Computer software 136, ,839 Total 276, , PROPERTY, PLANT AND EQUIPMENT The changes in Property, Plant and Equipment in 2009 and 2008 were as follows: THOUSANDS OF EUROS 2009 LAND AND BUILDINGS PLANT AND MACHINERY OTHER FIXTURES, TOOLS AND FURNITURE PROPERTY, PLANT AND EQUIPMENT IN THE COURSE OF CONSTRUCTION OTHER ITEMS OF PROPERTY, PLANT AND EQUIPMENT TOTAL Cost: Balance at 1 January ,680,537 1,682,676 2,528,256 3,652, ,856 19,891,030 Additions 273,877 56, ,823 1,122,372 32,310 1,600,345 Disposals / reductions -66,910-37,751-20,127-30,231-12, ,647 Transfers (Note 5) 1,231, , ,884-2,047,065 36,427 27,336 Balance at 31 December ,119,063 1,845,419 3,285,836 2,697, ,965 21,351,064 Accumulated depreciation: Balance at 1 January ,647, , , ,453-4,810,401 Depreciation charge -377, , , , ,072 Disposals / reductions 25,873 32,235 17,463-12,491 88,062 Annual report

119 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS 2009 LAND AND BUILDINGS PLANT AND MACHINERY OTHER FIXTURES, TOOLS AND FURNITURE PROPERTY, PLANT AND EQUIPMENT IN THE COURSE OF CONSTRUCTION OTHER ITEMS OF PROPERTY, PLANT AND EQUIPMENT TOTAL Transfers (Note 5) Balance at 31 December ,998, ,518-1,173, ,266-5,474,620 Net: 10,120, ,901 2,112,681 2,697,781 99,699 15,876,444 THOUSANDS OF EUROS 2008 LAND AND BUILDINGS PLANT AND MACHINERY OTHER FIXTURES, TOOLS AND FURNITURE PROPERTY, PLANT AND EQUIPMENT IN THE COURSE OF CONSTRUCTION OTHER ITEMS OF PROPERTY, PLANT AND EQUIPMENT TOTAL Cost: Balance at 1 January ,074,613 1,617,484 2,374,907 2,379, ,474 17,777,076 Additions 342,325 39,339 67,629 1,700,933 20,517 2,170,743 Disposals / reductions -27,995-33,111-27, , ,054 Transfers (Note 5) 291,594 58, , ,518 11,932 48,265 Balance at 31 December ,680,537 1,682,676 2,528,256 3,652, ,856 19,891,030 Accumulated depreciation: Balance at 1 January ,311, , , ,603-4,223,332 Depreciation charge -342, , , , ,153 Disposals / reductions 7,514 20,697 23,979-16,031 68,221 Transfers (Note 5) , ,098-2,137 Balance at 31 December ,647, , , ,453-4,810,401 Net: 9,033, ,612 1,536,374 3,652,705 79,403 15,080,629 The detail of the value of the buildings and land relating to the properties owned by the Group at the end of 2009 and 2008 is as follows: THOUSANDS OF EUROS PROPERTY Land 3,346,024 3,249,883 Buildings 9,773,039 8,430,654 Total 13,119,063 11,680,537 At 2009 and 2008 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. Also, on 5 July 2007, the subsidiary Aena Desarrollo Internacional acquired an aircraft for EUR 2,590 thousand 314 Annual report 2009

120 Legal Information Consolidated Financial Statements which was financed by a loan granted by La Caixa amounting to EUR 3,000 thousand (see Note 14). This aircraft is recognised under Other Items of Property, Plant and Equipment Transport Equipment. As described in Note 4-b, in prior years, the Parent revalued its property, plant and equipment pursuant to various legal regulations, in particular, Royal-Decree- Law 7/1996, of 7 June. The cost of the cumulative revaluations at 31 December 2009 and 31 December 2008, performed pursuant to Royal Decree-Law 7/1996, of 7 June, amounted to EUR million and EUR million, respectively. At 31 December 2009, the accumulated depreciation amounted to EUR million, and its effect on period depreciation amounted to EUR 3,82 million (At 31 December 2008 amounted to EUR million and EUR 7.82 million respectively). Interest expenses incurred in 2009 totalling EUR million (EUR million in 2008)were capitalised in relation to the financing of property, plant and equipment in the course of construction and EUR million (EUR million in 2008) were capitalised in relation to in-house work performed by the Parent on its property, plant and equipment. In relation to capitalised finance costs, the Parent considers that the purpose of all its non-current loans is to finance investment. The interest accrued is capitalised as an addition to these assets in proportion to the property, plant and equipment in the course of construction taken as a percentage of the total cost of the investment in the year. Non-current asset additions 2009 The main additions recognised in 2009 were as follows: Land and buildings In accordance with the accounting principle of prudence, the Parent capitalises the land compulsorily purchased to carry out construction projects in progress at the airports for the amount of just compensation estimated to be established for the land. This amount is charged against a provision for contingencies and charges recognised for the amount payable (see Note 13.2). Land additions amounting to EUR 25 million relate mainly to the land acquired to extend the Córdoba airport. The main additions to Buildings in 2009 relate to assets of the Barcelona-El Prat airport, where the new Terminal 1 entered into service in June Property, plant and equipment in the course of construction The main additions in 2009 relate to the extensions of the Barcelona-El Prat and Palma de Mallorca airports. Plant and other items of property, plant and equipment The additions in 2009 related mainly to the installations required to start up the new terminal at the Barcelona-El Prat airport and the increased capacity of the automatic baggage-handling system at Madrid-Barajas airport The main additions recognised in 2008 were as follows: Land and buildings In accordance with the accounting principle of prudence, the Parent capitalises the land compulsorily purchased to carry out construction projects in progress at the airports for the amount of just compensation estimated to be established for the land. This Annual report

121 Legal Information Consolidated Financial Statements amount is charged against a provision for contingencies and charges recognised for the amount payable (see Note 13.2). Land additions amounting to EUR 174 million relate mainly to the land acquired to extend the Madrid-Barajas and Málaga airports. Property, plant and equipment in the course of construction The main additions in 2008 relate to the extensions of the Barcelona-El Prat and Málaga airports. Plant and other items of property, plant and equipment The additions in 2008 related mainly to air conditioning systems resulting from the extension of Barcelona-El Prat and Málaga airports and electricity system overhauls at Alicante and Madrid-Barajas airports. Disposals 2009 At the Palma de Mallorca and Menorca airports and to the renovation of the air conditioning systems and multi-service network at Madrid-Barajas airport. The rest of the disposals of property, plant and equipment were not material amounts The main disposals relate to the air conditioning system at Tenerife Sur airport and also to the disposals resulting from the refurbishment work carried out at terminals 1 and 2 of Madrid-Barajas airport. The individual amounts of the remaining disposals of property, plant and equipment are not material. Impairment 2009 The Parent considered that there were no indications of impairment at 31 December 2009 that would require the recognition of an impairment loss The Parent considered that the impairment losses recognised in the consolidated balance sheet at 2007 year-end amounting to EUR 29.4 million did not meet the requirements to be maintained as such under the new Spanish National Chart of Accounts as they were similar to accelerated depreciation. Consequently, the Parent recognised this amount as an increase to the accumulated depreciation of the related assets. Grants received 2009 At 31 December 2009, the Parent received grants in connection with its property, plant and equipment and intangible assets for an accumulated amount of EUR 422 million, of which EUR 22,8 million correspond to additions in the year (see Note 11-d). The gross cost of the assets associated with these grants is EUR million, of which EUR 2.169,9 million relate to property, plant and equipment, and EUR 16,5 million to intangible assets At 31 December 2008, the Parent received grants associated with its property, plant and equipment and intangible assets amounting to EUR million (net of tax), of which EUR 64.5 million relate to additions in the year (see Note 12-g). The total cost of the assets associated with these grants is EUR 1,960 million, 316 Annual report 2009

122 Legal Information Consolidated Financial Statements of which EUR 1,942.4 million relate to property, plant and equipment and EUR 17.6 million relate to intangible assets. Limitations The 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 equipment At 31 December 2009, the property, plant and equipment in use with an original cost of EUR 1, million (EUR 1, million in 2008) were fully amortised and are still in use, the detail being as follows: Obligations At 31 December 2009, the investments yet to be performed amounted to approximately EUR 1,155 million (EUR 1,260 million in 2008), comprising both contracts that have not yet been formalised and firm contracts not yet executed. Insurance policies The Group takes out insurance policies to sufficiently cover the possible risks to which its property, plant and equipment are subject. At 31 December 2009 and 31 December 2008, property, plant and equipment were fully insured against such risks. 7. INVESTMENT PROPERTY THOUSANDS OF EUROS Plant and machinery 411, ,100 Other fixtures, tools and furniture 296, ,289 Other items of property, plant and equipment 199, ,405 Total 1,370,658 1,069,974 Total Investment property relates mainly to properties earmarked for lease, except for the surface area used by the subsidiary CLASA to carry out its activities. The changes in 2009 and 2008 in Investment Property in the consolidated balance sheet and the most significant information affecting this heading were as follows: THOUSANDS OF EUROS 2009 LAND AND BUILDINGS PLANT OTHER FIXTURES TOTAL Cost: Balance at 1 January ,040 4, ,869 Additions Disposals or reductions Balance at 31 December ,343 4, ,309 Accumulated depreciation: Balance at 1 January ,260-1, ,137 Depreciation charge -3, ,402 Annual report

123 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS 2009 LAND AND BUILDINGS PLANT OTHER FIXTURES TOTAL Disposals or reductions Balance at 31 December ,405-2, ,504 Net: 87,938 2, ,805 THOUSANDS OF EUROS 2008 LAND AND BUILDINGS PLANT OTHER FIXTURES TOTAL Cost: Balance at 1 January ,218 4, ,596 Additions 1, ,022 Disposals or reductions Balance at 31 December ,040 4, ,869 Accumulated depreciation: Balance at 1 January ,493-1, ,272 Depreciation charge -2, ,008 Disposals or reductions Balance at 31 December ,260-1, ,137 Net: 90,780 2, ,732 Investment property additions The main additions in 2009 relate to the installation of the new lift cabins at Barajas and the settlement of construction work at the Barcelona facilities. The main additions in 2008 relating to Buildings correspond to the final settlement of the construction work at the industrial building, lot 1.1 of the Barcelona cargo centre. Investment property obligations At 2009 and 2008 year-end, no investment property items were subject to guarantees. Insurance policies The Group takes out insurance policies to cover the possible risks to which its investment property is subject. At 2009 year-end, the Group was reasonably insured against such risks. Fully depreciated investment property At 31 December 2009 there were fully depreciated investment property items in use with an original cost of EUR 60 thousand. At 31 December 2008, there were no fully depreciated investment property items that were still in use. 318 Annual report 2009

124 Legal Information Consolidated Financial Statements 8. LEASES Finance leases At 2008 year-end, the subsidiary Aena Desarrollo Internacional had arranged a finance lease with BBVA (see the terms and conditions of the finance lease in Note 14) on an automated flight inspection system (console) which is recognised under Property, Plant and Equipment in the accompanying consolidated balance sheet at 31 December 2008 (see Note 6). At 31 December 2009 and 31 December 2008, 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:: THOUSANDS OF EUROS MINIMUM FINANCE LEASE PAYMENTS Within one year Between one and five years 2,419 2,924 After five years 715 1,170 Total 3,588 4,240 At 31 December 2009 and 31 December 2008, the interest maturing on this agreement in coming years, was as follows: THOUSANDS OF EUROS INTEREST - MATURITY Within one year Between one and five years After five years 2 52 Total Operating leases taking into account the charging of common expenses, future increases in line with the CPI or future contractual lease payment revisions: LEASE PAYMENTS MINIMUM THOUSANDS OF EUROS OPERATING Within one year 14,615 11,543 Between one and five years 25,525 13,648 Total 40,140 25,191 The operating lease agreements held by the Group at year-end related mainly to the rental of offices, parking spaces and IT equipment. The lease payments recognised as an expense in 2009 and 2008 amounted to EUR 18,549 thousand and EUR 23,620 thousand, respectively (see note 16.d) At the end of 2009 and 2008 the subsidiary CLASA had contracted with tenants for the following minimum 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: THOUSANDS OF EUROS MINIMUM OPERATING Within one year 1,954 1,203 Between one and five years 4,022 9,268 After five years 439, ,939 Total 445, ,410 These leases relate mainly to the assets included under Investment Property with an original cost of EUR 116,309 thousand (EUR115,869 thousand in 2008), receiving annual rental income of EUR 18,740 thousand (EUR 19,192 thousand in 2008). The total built area measures 137 thousand square metres. At the end of 2009 and 2008 the Group had contracted with lessors for the following minimum lease payments, based on the leases currently in force, without Annual report

125 Legal Information Consolidated Financial Statements 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 2009 and 2008 is as follows: 2009 THOUSANDS OF EUROS COMPANY BALANCE AT 01/01/09 SHARE OF RESULTS OF INVESTEES DIVIDENDS PAID TRANSLATION DIFFERENCES OTHER BALANCE AT 31/12/09 RAESA 3,459 1,059-1, ,862 AMP 52,625 5,947-3,222 1, ,588 SACSA 1,277 1,111-1, ,308 ACSA 613 1,044-1, AEROCALI 1, ,865 TIFSA 14,849 4,371-2, ,507 74,605 14,431-10,621 1, ,758 The translation differences arising in 2009 amounting to EUR 1,741 thousand relate to the difference between the balance recorded in this connection in 2008 (EUR (9,246) thousand) and that recognised in 2009 (EUR (7,505) thousand) (see Note 12-f) THOUSANDS OF EUROS COMPANY BALANCE AT 01/01/08 SHARE OF RESULTS OF INVESTEES DIVIDENDS PAID TRANSLATION DIFFERENCES OTHER BALANCE AT 31/12/08 RAESA 4,544 1,657-2, ,459 AMP 57,587 4,427-2,324-9,024 1,959 52,625 SACSA ,277 ACSA 494 1, AEROCALI 1,439 1, , TIFSA 11,798 5,428-2, ,849 76,775 14,558-9,452-9,246 1,970 74, Annual report 2009

126 Legal Information Consolidated Financial Statements The balance at 31 December 2009 and 2008 includes the goodwill on consolidation of the companies accounted for using the equity method, net of accumulated amortisation, arising on the acquisition in 2006 of the additional 7,83% stake in AMP for EUR 2,126 thousand NON-CURRENT FINANCIAL ASSETS El saldo de las cuentas del epígrafe Inversiones financieras a largo plazo al cierre de los ejercicios 2009 y 2008 es el siguiente: NON-CURRENT FINANCIAL ASSETS THOUSANDS OF EUROS Equity instruments 59,153 59,053 Derivatives (Note 10) Long-term deposits and guarantees 2,006 2,128 Total 61,570 61,181 a) Equity instruments A detail of the most significant equity instruments is as follows: NAME AND LOCATION Agencia Barcelona Regional Edificio Centreservei, Zona Franca Carrer 60, Barcelona GroupEAD Europe S.L - Juan Ignacio Luca de Tena 14 Madrid Grupo Navegación por Satélite Sistemas y Servicios, S.L.- C/ Gobelas nº41 Madrid Airport Concessions and Development Limited (ACDL) - 10, Upper Bank St London U.K. European Satellite Service Provider, SAS (ESSP SAS) Toulose - Francia European Satellite Service Provider European Economic Interest Grouping. (ESSP EEIG) Bruselas-Bélgica LINE OF BUSINESS Analyses and prospecting in relation to urban development, regional and environmental matters. Design, development, management, implementation, execution and operation of, and counselling on, all manner of construction work, buildings and urban infrastructures and systems in the metropolitan area. Operation of a database system for aeronautical information systems. Development and implementation of changes in and improvements to the database and related consulting services. Development, implementation, operation, exploitation and marketing of services related to the global satellite navigation system currently known as Galileo. Financial asset management of TBI airport group. FRACTION OF DIRECT CAPITAL (%) OWNER OF INVESTMENT AENA 36 AENA AENA 10 AENA Desarrollo Internacional Development of satellite navigation system AENA Desarrollo Internacional Development of satellite navigation system AENA Desarrollo Internacional The detail and changes in the most significant equity instruments in the accompanying consolidated balance sheet at 31 December 2009 and 31 December 2008 is as follows: Annual report

127 Legal Information Consolidated Financial Statements 2009 THOUSANDS OF EUROS EQUITY INSTRUMENTS- AVAILABLE FOR SALE - FINANCIAL ASSETS-MEASURED AT COST: COST BALANCE AT 01/01/09 ADDITIONS AND CHARGES BALANCE AT 31/12/09 Airport Concessions and Development Limited (ACDL) 78,596-78,596 European Satellite Services Provider (ESSP EEIG) European Satellite Services Provider, SAS (ESSP SAS) Agencia Barcelona Regional GroupEAD Europe S.L Grupo Navegación por Satélite Sistemas y Servicios, S.L Impairment Airport Concessions and Development Limited (ACDL) -21, ,174 Total investment in Equity Instruments" 58,345-58, THOUSANDS OF EUROS EQUITY INSTRUMENTS- AVAILABLE FOR SALE - FINANCIAL ASSETS-MEASURED AT COST: COST BALANCE AT 01/01/09 ADDITIONS AND CHARGES BALANCE AT 31/12/09 Airport Concessions and Development Limited (ACDL) 78,596-78,596 European Satellite Services Provider (ESSP EEIG) European Satellite Services Provider, SAS (ESSP SAS) Agencia Barcelona Regional GroupEAD Europe S.L Grupo Navegación por Satélite Sistemas y Servicios, S.L Impairment Airport Concessions and Development Limited (ACDL) -6,652-14,522-21,174 Total investment in Equity Instruments" 72,700-14,355 58,345 b) Transactions and balances with companies accounted for using the equity method The breakdown of receivables and payables and the detail of the transactions performed with companies accounted for using the equity method at 31 December 2009 and 31 December 2008 are as follows: THOUSANDS OF EUROS 2009 RECEIVABLES SUPPLIER INCOME FROM SERVICES PROVIDED EXPENSES OF SERVICES RECEIVED TIFSA 5,661 1,081 37,791 9,677 RAESA 4, , ACSA SACSA AMP 777-2,410 - Aerocali GAP ,532 1,251 58,251 10, Annual report 2009

128 Legal Information Consolidated Financial Statements 2008 RECEIVABLES SHORT-TERM RECEIVABLES THOUSANDS OF EUROS SUPPLIER INCOME FROM SERVICES PROVIDED EXPENSES OF SERVICES RECEIVED TIFSA 4,514 2, ,337 8,536 RAESA 4, , ACSA SACSA AMP 1, ,961 - Aerocali GAP ,715 2, ,877 9,132 The EUR 2,000 thousand loan received by Ineco from its investee Tifsa matured on 23 January 2009 and the applicable interest rate was 3.824%. 9.3 CURRENT FINANCIAL ASSETS The balance of Current Financial Assets at the end of 2009 and 2008 was as follows: THOUSANDS OF EUROS CURRENT FINANCIAL ASSETS Loans to companies 3,882 2,571 Short-term deposits and guarantees 5,083 33,781 Other financial assets 7,655 1,119 Total 16,620 37,471 At 31 December 2009, the subsidiary Aena Desarrollo Internacional included under Other Financial Assets the following short-term deposits, and the related 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: 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, 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, except for INECO, which has independent financing policies. The main financial risks are as follows: A) INTEREST RATE RISK The 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 currencies other than the euro (unlike subsidiaries such as Aena Desarrollo Internacional and INECO), 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. Note 14 provides a detail of the interest rates of the bank borrowings. Annual report

129 Legal Information Consolidated Financial Statements The Company has arranged transactions to hedge the risk of changes in interest rates, as detailed in Note 10. 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 agreements with institutions such as Instituto de Crédito Oficial and the European Investment Bank, and by arranging shortand 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 RISK The 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. D) FOREIGN CURRENCY RISK The 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 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 instruments The 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 (see Note 14) which is recognised under Equity- Hedges in the accompanying consolidated balance sheet at 31 December 2009 and 31 December 2008, the detail being as follows: 2009 CLASSIFICATION MATURITY (*) INEFFECTIVENESS RECOGNISED IN 2009 PROFIT OR LOSS (THOUSANDS OF EUROS) FAIR VALUE RECOGNISED IN EQUITY AT 31/12/09 (THOUSANDS OF EUROS) Foreign currency derivative Foreign currency hedge 08/10/ Annual report 2009

130 Legal Information Consolidated Financial Statements 2009 CLASSIFICATION MATURITY (*) INEFFECTIVENESS RECOGNISED IN 2008 PROFIT OR LOSS (THOUSANDS OF EUROS) FAIR VALUE RECOGNISED IN EQUITY AT 31/12/08 (THOUSANDS OF EUROS) Foreign currency derivative Foreign currency hedge 08/10/ ,045 (*) The hedging instrument matures with the year in which the cash flows affecting the consolidated income statement will foreseeably occur. The subsidiary Aena Desarrollo Internacional has complied with the requirements 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 hedges were assessed as being effective. Derivative financial instruments On 1 October 2007, the subsidiary Aena Desarrollo Internacional arranged a cash flow derivative with La Caixa in order to control and reduce the potentially adverse impact of variable exchange rate changes on its profit or loss. In particular, this derivative hedges the effect of interest rate fluctuations in the rates of interest on the loan granted to the Company by La Caixa (see Note 14). As this derivative financial instrument does not meet the conditions for recognition as a financial hedging instrument, it was recognised under Non- Current Liabilities - Derivatives in the accompanying consolidated balance sheet at 31 December Also, in 2009 the Group arranged two interest rate hedges. The main characteristics of these derivative financial instruments are as follows: 2009 CLASSIFICATION TYPE AMOUNT ARRANGED (THOUSANDS OF EUROS MATURITY 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 hedge Fixed (4.83%) to floating interest rate swap 2,000 01/10/ Interest rate swap Interest rate swap Interest rate hedge Interest rate hedge Floating (3-month Euribor) to fixed (2.8025%) Floating (3-month Euribor) to fixed (2.8025%) 1,194,391 15/03/2012-1,119,147 15/03/ CLASSIFICATION TYPE AMOUNT ARRANGED (THOUSANDS OF EUROS) MATURITY FAIR VALUE RECOGNISED UNDER NON-CURRENT LIABILITIES AT 31/12/08 (THOUSANDS OF EUROS) Interest rate swap Interest rate hedge 4.83% Fixed interest rate swap for floating interest rate 2,000 01/10/ Annual report

131 Legal Information Consolidated Financial Statements At 2009 year-end, the amount recognised in the consolidated income statement relating to the change in the fair value of the derivative financial instrument totalled EUR 52 thousand (EUR 80 thousand in 2008), which was recognised under Change in Fair Value of Financial Instruments in the accompanying 2008 consolidated income statement. 11. INVENTORIES The breakdown of Inventories is as follows: THOUSAND OF EUROS Spare parts 6,040 5,976 Inventory write-downss ,906 5, EQUITY AND SHAREHOLDERS 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 Communications (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 equity account includes, in addition to other subsequent changes amounting to EUR 18.7 million, EUR million representing the valuation difference between the rights and obligations 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 million (see Note 6). The tax inspection authorities had a period of three years from 31 December 1996 to review the balance of this reserve. Since the three-year period has elapsed, this balance can be used to offset losses or to increase the Company s equity. Once ten years have elapsed, the balance may be allocated to unrestricted reserves. The balance of the revaluation reserve account may not be distributed, either directly or indirectly, until the revaluation surplus has been realised. The assets assigned to the Parent at the time of its formation, based on the appraisal of independent professional experts, amounted to EUR 2,831.6 million. 326 Annual report 2009

132 Legal Information Consolidated Financial Statements D) RESERVES AT CONSOLIDATED COMPANIES AND AT COMPANIES ACCOUNTED FOR USING THE EQUITY METHOD 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: THOUSANDS OF EUROS COMPANY Consolidated companies: RIDA INECO 7,716 9,934 CLASA 15,466 14,942 Aena Desarrollo Internacional -23,565-17, ,137 Companies accounted for using the equity method: SACSA AMP 4,362 3,220 ACSA 6 6 AEROCALI TIFSA 6,366 4,708 RAESA 1,509 1,509 13,349 10,395 12,906 17,532 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: 2009 CONSOLIDATED PROFIT/(LOSS) THOUSANDS OF EUROS LOSS ATTRIBUTABLE TO MINORITY SHAREHOLDERS LOSS ATTRIBUTABLE TO THE PARENT AENA -364, ,417 INECO Aena Desarrollo Internacional CRIDA CLASA 4,521-4, , ,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 TIFSA 4,371-1,701 2,670 14,431-1,701 12,730 Total -343,908-1, ,860 Annual report

133 Legal Information Consolidated Financial Statements 2008 CONSOLIDATED PROFIT/(LOSS) THOUSANDS OF EUROS LOSS ATTRIBUTABLE TO MINORITY SHAREHOLDERS LOSS ATTRIBUTABLE TO THE PARENT AENA -172, ,171 INECO 10,690-4,159 6,531 Aena Desarrollo Internacional -11, ,602 CRIDA CLASA 5,328-5, ,771-6, ,927 Share of results of companies accounted for using the equity method: RAESA 1,657-1,657 AMP 4,427-4,427 SACSA ACSA 1,091-1,091 AEROCALI 1,063 1,063 TIFSA 5,428-2,112 3,316 14,558-2,112 12,446 Total -153,213-6, ,481 F) TRANSLATION DIFFERENCES Translation differences relate in full to equity-accounted investees of Aena Desarrollo Internacional, The breakdown, by company, is as follows: Asset-related grants from official European Agencies The changes, net of taxes, in this heading in 2008 were as follows: THOUSANDS OF EUROS AMP -7,721-9,024 AEROCALI SACSA ACSA Total -7,505-9,246 THOUSANDS OF EUROS Beginning balance 415, ,811 Additions to ERDF Grants 22,771 58,627 Additions to other grants - 5,873 Allocation to income -18,515-20,738 Ending balance 419, ,573 G) GRANTS, DONATIONS OR GIFTS AND LEGACIES RECEIVED The breakdown at 31 December 2009 and 31 December 2008 is as follows: These grants are allocated to income in proportion to the period depreciation taken on the assets to which they relate. ERDF grants THOUSANDS OF EUROS Asset-related grants from official European Agencies 419, ,573 Other 2,544 2, , ,316 The detail of the advances received in 2009 and 2008 for operating programmes is as follows (in thousands of euros): 328 Annual report 2009

134 Legal Information Consolidated Financial Statements 2009 AMOUNT OF THE GRANT Received in 2009: Prog Oper. C. Andalucía 3,260 Prog Oper. C. Extremadura 428 Prog Oper. C. Galicia 5,090 Prog Oper. C. Canarias 8,101 Prog. Oper. C. Castilla-León 289 Prog. Oper. C. Murcia 385 Prog. Oper. C. Valencia 264 Prog Oper. C. Canaria 15,964 Total ERDF fund additions in , AMOUNT OF THE GRANT Received in 2008: Prog. Navegación Aérea 934 Prog Oper. C. Canaria 61,981 Prog. Oper. C. Castilla-León 577 Prog. Oper. C. Murcia 770 Prog. Oper. C. Valencia 529 Prog. Oper. C. Andalucía 18,961 Total ERDF fund additions in ,752 At 2009 and 2008 year-end, the Parent had fulfilled all the conditions established for receiving and using the grants detailed above. H) MINORITY INTERESTS The changes in Minority Interests of each subsidiary were as follows: 2009 THOUSANDS OF EUROS BALANCE AT OWNERSHIP SOCIEDAD SHARE OF PROFIT OTHERS DIVIDENDS 01/01/09 INTEREST BALANCE AT 31/12/09 INECO 18,009-1, ,657 13,220 CRIDA , , ,657 13, THOUSANDS OF EUROS COMPANY BALANCE AT OWNERSHIP 01/01/08 INTEREST SHARE OF PROFIT DIVIDENDS BALANCE AT 31/12/08 INECO 17,631-6,271-5,893 18,009 CRIDA , ,268-5,893 18,126 Annual report

135 Legal Information Consolidated Financial Statements 13. PROVISIONS AND CONTINGENCIES 13.1 LONG-TERM PROVISIONS The changes in the long-term provision accounts in 2009 and 2008 were as follows: THOUSANDS OF EUROS 2009 PROVISIONS FOR LONG-TERM EMPLOYEE BENEFIT OBLIGATIONS OTHER PROVISIONS PROVISIONS FOR ENVIRONMENTAL COSTS TOTAL 2009 beginning balance 390,487 22,674 52, ,668 Additions 82,734 7,282 69, ,127 Reversals/Excessive provisions -1,244-1, ,627 Amounts used , ,801 Transfer to short term -60,380-2,901-24,185-87, ending balance 410,957 19,511 97, ,901 THOUSANDS OF EUROS 2008 PROVISIONS FOR LONG-TERM EMPLOYEE BENEFIT OBLIGATIONS OTHER PROVISIONS PROVISIONS FOR ENVIRONMENTAL COSTS TOTAL 2008 beginning balance 416, ,929 41, ,592 Additions 75,074 30,228 11, ,675 Reversals/Excessive provisions - -6, ,608 Amounts used -41,797-34, ,742 Transfer to short term -59,319-84, , ending balance 390,487 22,674 52, ,668 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 - Remuneration Payable in the accompanying consolidated balance sheet at 31 December Additionally, transfers from the provisions for third-party liability are recognised under Short-Term Provisions in the accompanying consolidated balance sheet at 31 December 2009 (see Note 13.2). A) PROVISIONS FOR LONG-TERM EMPLOYEE BENEFIT OBLIGATIONS The changes in 2009 and 2008 were as follows: 330 Annual report 2009

136 Legal Information Consolidated Financial Statements 2009 BONUSES PARTICIPATION BONUSES THOUSANDS OF EUROS SPECIAL PAID LEAVE SOCIAL WELFARE FUND 2009 beginning balance 10,541 14, , ,487 Additions ,181 57,551 8,031 82,735 Reversals -1, ,244 Amounts Used Transfer to short term - -16,198-39,183-5,000-60, ending balance 9,629 14, ,366 3, ,957 TOTAL 2009 BONUSES PARTICIPATION BONUSES THOUSANDS OF EUROS SPECIAL PAID LEAVE SOCIAL WELFARE FUND 2008 beginning balance 10,113 14, ,464 5, ,529 Additions ,450 49,400 8,246 75,074 Amounts Used ,866-5,381-41,797 Transfer to short term - -16,232-35,000-8,087-59, ending balance 10,541 14, , ,487 TOTAL Bonuses Early retirement bonus Under Article 154 of the Company s Fifth 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 entitlements 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. Once this first 40-year period has elapsed, the policy will participate in 90% of the earnings from the investment of the mathematical provisions of all the policies entitled to participation which were arranged on or after 1 January 2002 and which are still in force at December 31 of each year. At 31 December 2009 and 31 December 2008, the Parent had recognised a provision amounting to EUR 1,203 thousand relating to the difference between the present value of the remuneration commitments and the present value of the externalised plan assets. Long-service bonuses Article 138 of the Company s Fifth Collective Labour Agreement and Article 141 of the First Air Traffic 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 provision recognised for this obligation amounted to EUR 972 thousand (EUR 978 thousand in 2008), of which EUR 375 thousand (EUR 356 thousand in 2008) relate to the finance cost, calculated on the basis of an actuarial study. The main assumptions used to obtain the actuarial calculation are as follows: Annual report

137 Legal Information Consolidated Financial Statements Assumed interest rate...4.6% Annual CPI increase::...2.0% Mortality table:...men PERM2000P... Women PERF2000P Financial system used:...individualised capitalisation Accrual method:... Projected Unit Credit Participation bonuses Under agreements entered into between the Company and the Air Traffic Controllers Labour Union, certain bonuses were agreed upon for the period , accruable for the extension of working hours during these periods. These bonus agreements were extended successively without interruption, for periods of one year, until the final extension from 1 August 2009 to 31 July The bonuses are paid over the two years following the year in which they are earned, in equal portions. The balance of this heading relates to the bonuses which will be paid from 1 January 2011, and the bonuses payable in 2010 were transferred to short term. The provision for the 2009 bonuses was charged to Staff Costs in the accompanying consolidated income statement at 31 December Special paid leave Articles 166 to 174 of the First Air Traffic Controllers Collective Labour Agreement provide for a pre-retirement situation that may be availed of by employees who meet certain conditions on reaching 52 years of age. These employees will not render any services until their retirement date, except in special cases, and will be entitled to have their basic salaries reviewed on an annual basis. The Company recognised a provision in 2008 for the actuarial value of the benefits to the employees who are expected to avail themselves of this leave based on historical experience. The main assumptions used to obtain the actuarial calculation are as follows: Discount factor:... Iboxx curve...at 31 December 2009 AA Annual CPI increase:...3% Mortality table:...men PERM2000P... Women PERF2000P Financial system used:...individualised capitalisation Accrual method:... Projected Unit Credit In the estimate of the actuarial value at 31 December 2009 the suspension of the right to obtain this leave provided for in Royal Decree-Law 1/2010, of 5 February (see Note 2-c) was taken into account. The amount recognised directly in equity in 2009 for the actuarial losses relating to this provision totalled EUR 17,315 thousand (2008: EUR 11,406 thousand). Other employee benefit obligations Under Article 150 of the Company s Third Collective Labour Agreement, when employees retire 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 longservice 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 definedcontribution pension plan for Aena s employees was set up on 28 July 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 Employees 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. 332 Annual report 2009

138 Legal Information Consolidated Financial Statements In 2009 the Parent made contributions amounting to EUR 6.21 million (5.91 million in 2008) to this Pension Fund and paid benefits totalling EUR 1.76 million (1.46 million in 2008) At 31 December 2009, the balance of the pension plan position account was EUR million (39.2 million in 2008). In addition, the number of participants and beneficiaries amounted to EUR 10,684 at the end of 2009 (end of 2008: EUR 10,135). 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 statements and do not consider that the current claims, taken as a whole, will give rise to additional liabilities that might have a material effect on the 2009 financial statements. B) OTHER PROVISIONS Other Provisions, which amount to EUR 16,603 thousand in 2009 and EUR 21,487 thousand in 2008, relates to the estimated amount of tax debts whose exact amount cannot yet be determined or whose date of payment is uncertain. This heading also includes EUR 2,908 thousand in 2009 and EUR 1,187 thousand in 2008, 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 C) PROVISIONS FOR ENVIRONMENTAL COSTS Provisions for Environmental Costs in 2009 includes EUR 97.4 million recognised( EUR 52.5 million in 2008) 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 43.8 million (EUR 35.2 million in 2008) 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 SHORT-TERM PROVISIONS The changes in 2009 and 2008 were as follows: 2009 THOUSANDS OF EUROS AMOUNTS EXCESSIVE 01/01/2009 ADDITIONS USED PROVISIONS TRANSFERS 31/12/2009 Provisión para el plan de jubilaciones anticipadas y el fondo de acción social (5.946) (1.047) Licencia especial retribuida (nota 13.1) (35.183) Provisión de tasa de seguridad (1.733) Otras provisiones (88.958) (31.356) ( ) (32.403) Annual report

139 Legal Information Consolidated Financial Statements 2008 THOUSANDS OF EUROS AMOUNTS EXCESSIVE 01/01/2008 ADDITIONS USED PROVISIONS TRANSFERS 31/12/2008 Provision for early retirement plan 1, ,329 8,087 9,138 Special paid leave (Note 13.1) ,000 35,000 Provision for security charge 1,767 9,323-9, ,733 Other provisions 322, , ,398-9,177 84, , , , ,755-10, , ,753 A) PROVISION FOR EARLY RETIREMENT PLAN In 2007 the Company agreed upon an option for early retirement with its employees whereby personnel with employment contracts reaching 60, 61, 62 or 63 years of age in 2007 who met the requirements established by the social security authorities for qualifying for the state retirement pension at the age of 60 could, on a voluntary basis and subject to agreement by the Company, avail themselves of this option and receive a lump sum to compensate them for the decrease in their retirement pension as a result of bringing forward their retirement. In 2008 the Parent approved a further initiative under the same conditions. The Company has estimated and recognised the liability arising from this agreement in the provision for early retirement plan account. No initiative was approved in this connection in At 31 December 2009, the balance relates in full to the Social Action Fund. B) PROVISION FOR SECURITY CHARGE This charge has been applied since 1 May 1997 to outgoing passengers who embark at Spanish airports in accordance with Law 13/1996, of 30 December, on Tax, Administrative and Social Security Measures and, since 1999, 50% of the amounts collected annually have been deposited at the tax authorities by the Company. Since December 2006 the rate payable to the tax authorities has been reduced gradually as follows: DURATION RATE PAYABLE Until November % December 2006 to August % September 2007 to November % December 2007 to November % December 2008 to November % From December 2009 onwards 0% The aforementioned provision includes the estimated amount payable to the tax authorities once the Parent has collected the security charge amounts billed in 2009 and yet to be collected at year-end. C) OTHER PROVISIONS Other Provisions relates to EUR 141 million (EUR million in 2008) recognised to cover 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, and EUR 43.8 million (EUR 35.2 million in 2008) which were recognised to cover the sound insulation work required to meet the applicable environmental legislation. 334 Annual report 2009

140 Legal Information Consolidated Financial Statements 13.3 CONTINGENCIES As a result of the actions that will have to be carried out to comply with the EISs (Environmental Impact Statement) approved for the various airport expansion and improvement construction 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 2009 and 31 December 2008, the Parent was involved in various claims proceedings which, should the outcome thereof be unfavourable to Aena, could give rise to liabilities which were not possible to quantify at 31 December 2009 and 31 December 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 CONTINGENT ASSETS ADJUSTMENT MECHANISM This 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 2009 the balance in respect of this item amounted to EUR thousand ( EUR thousand at 31 December 2008) 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 309,311 thousand (EUR 333,104 thousand in 2008) through future charges. 14. BANK BORROWINGS AND OTHER FINANCIAL LIABILITIES The detail of Bank Borrowings and Other Financial Liabilities is as follows: THOUSANDS OF EUROS Non-current accounts payable- 10,158,075 9, Bank borrowings 10,155,044 9,008,975 Obligations under finance leases 3,031 3,450 Derivatives Other non-current financial liabilities 2,710 2,358 Total 10,160,928 9,014,892 Annual report

141 Legal Information Consolidated Financial Statements LONG TERM DEBTS WITH CREDIT INSTITUTIONS The main loans arranged by the Group outstanding are as follows:: THOUSANDS OF EUROS INTEREST RATE REPAYMENT PERIOD INTEREST PAYMENT PERIOD Loans of the Parent: 2,459 Fixed 3.56% until 15/09/10 11 equal payments 15/09/ /09/2010 Annual BEI 12,619 Fixed 4.26% until 15/09/16 15 equal payments 15/09/ /09/2016 Annual BEI 20,836 Fixed revisable 3.58% until 15/03/10 15 equal payments 15/03/ /03/2017 Annual BEI 25,243 Fixed revisable 2.82% until 15/12/09 20 equal payments 15/12/ /12/2023 Annual BEI 45,076 Fixed 4.61% (max Euribor 3M %) until 15/03/24 20 equal payments 15/03/ /03/2024 Annual BEI 38,315 Fixed 4.61% until 15/03/24 20 equal payments 15/03/ /03/2024 Annual BEI 24,000 Fixed revisable 3.71 % until 15/06/10 20 equal payments 15/06/ /06/2025 Annual BEI 36,000 Fixed revisable 3.11% until 15/03/10 20 equal payments 15/03/ /03/2025 Annual BEI 96,000 Fixed 3.933% until 15/03/25 20 equal payments 15/03/ /03/2025 Annual BEI 51,000 Fixed revisable 3.71 % until 15/06/10 20 equal payments 15/06/ /06/2026 Annual BEI 72,000 Fixed revisable 4.01% until 15/12/11 20 equal payments 15/12/ /12/2025 Annual BEI 48,000 Fixed revisable 3.66 % until 15/12/09 20 equal payments 15/12/ /12/2025 Annual BEI 64,439 Fixed revisable 4.07% until 15/03/12 20 equal payments 15/03/ /03/2026 Annual BEI 17,880 Fixed revisable 3.69% until 15/03/10 20 equal payments 15/03/ /03/2026 Annual BEI 76,500 Fixed revisable 3.761% until 15/03/26 20 equal payments 15/03/ /03/2026 Annual BEI 94,286 Fixed revisable 3.968% until 15/03/13 21 equal payments 15/03/ /03/2027 Annual BEI 64,000 Fixed revisable 3.98% until 15/09/11 20 equal payments 15/09/ /09/2025 Annual BEI 63,000 Fixed revisable 3.71% until 15/03/10 20 equal payments 15/03/ /03/2027 Annual BEI 45,238 Fixed revisable 4.157% until 15/03/11 21 equal payments 15/03/ /03/2028 Annual BEI 63,000 Variable (Euribor 3M bps) 20 equal payments 15/06/ /06/2027 Quarterly BEI 103,500 Variable (Euribor 3M bps) 20 equal payments 15/06/ /06/2027 Quarterly BEI 54,000 Variable (Euribor 3M bps) 20 equal payments 15/09/ /09/2027 Quarterly BEI 123,300 Variable (Euribor 3M bps) 20 equal payments 15/09/ /09/2027 Quarterly BEI 17,100 Variable (Euribor 3M bps) 20 equal payments 15/03/ /03/2028 Quarterly BEI 190,000 Variable (Euribor 3M bps) 20 equal payments 15/03/ /09/2028 Quarterly BEI 156,750 Variable (Euribor 3M bps) 20 equal payments 15/03/ /09/2028 Quarterly BEI 33,250 Variable (Euribor 3M bps) 20 equal payments 15/03/ /09/2028 Quarterly BEI 700,000 Fixed revisable 3.83% until 15/03/09 18 equal payments 15/03/ /09/2029 Quarterly BEI 50,000 Fixed revisable 2.89% until 15/12/12 18 equal payments 15/12/ /12/2029 Annual BEI 100,000 Fixed 3.909% until 15/12/29 18 equal payments 15/12/ /12/2029 Annual BEI 150,000 Fixed revisable 3.45% until 19/12/11 18 equal payments 15/12/ /12/2029 Annual BEI 150,000 Fixed revisable 3.748% until 15/06/10 18 equal payments 15/12/ /12/2029 Annual BEI 50,000 Fixed revisable 4.129% until 15/12/12 18 equal payments 15/12/ /12/2029 Annual BEI BANK 336 Annual report 2009

142 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS INTEREST RATE REPAYMENT PERIOD INTEREST PAYMENT PERIOD 100,000 Fixed revisable 4.337% until 18/05/12 20 equal payments 15/12/ /12/2031 Annual BEI 100,000 Fixed revisable 4.485% until 15/09/12 20 equal payments 15/12/ /12/2031 Annual BEI 50,000 Fixed revisable 4.543% until 15/09/12 20 equal payments 15/12/ /12/2031 Annual BEI 100,000 Fixed revisable 4.367% until 15/12/12 20 equal payments 15/12/ /12/2031 Annual BEI 55,000 Fixed revisable 4.323% until 15/12/12 20 equal payments 15/12/ /12/2031 Annual BEI 95,000 Fixed revisable 3.84% until 15/03/13 20 equal payments 15/03/ /03/2032 Annual BEI 10,000 Variable (Euribor 3M bps) 10 equal payments 15/03/ /03/2021 Quarterly BEI 170,000 Variable (Euribor 3M bps) 10 equal payments 15/03/ /03/2020 Quarterly BEI 120,000 Variable (Euribor 3M bps) 10 equal payments 15/03/ /03/2022 Quarterly BEI 100,000 Variable (Euribor 3M bps) 10 equal payments 19/03/ /03/2022 Quarterly BEI 100,000 Variable (Euribor 3M bps) 10 equal payments 19/03/ /03/2022 Quarterly BEI 100,000 Fixed Revisable 4.027% until 19/03/13 10 equal payments 19/03/ /03/2022 Annual BEI 100,000 Fixed Revisable 3.84% until 15/03/13 20 equal payments 15/03/ /03/2032 Annual BEI 150,000 Fixed Revisable 3.78% until 15/03/12 20 equal payments 15/03/ /03/2033 Annual BEI 100,000 Fixed Revisable 4.12% until 15/03/11 20 equal payments 15/03/ /03/2033 Annual BEI 150,000 Fixed Revisable 4.23% until 15/03/13 21 equal payments 15/03/ /03/2033 Annual BEI 100,000 Fixed 3.73% 20 equal payments 20/03/ /03/2033 Annual BEI 50, ,000 50, , , % variable diferencial Fixed (Euribor 3M %) 1.445% variable diferencial Fixed (Euribor 3M %) 1.21% variable diferencial Fixed (Euribor 3M %) 1.1% variable diferencial Fixed (Euribor 3M %) until 15/12/ % variable diferencial Fixed (Euribor 3M %) until 15/12/12 BANK 21 equal payments 20/03/ /03/2034 Quarterly BEI 21 equal payments 20/03/ /03/2034 Quarterly BEI 11 equal payments 15/06/ /06/2024 Quarterly BEI 10 equal payments 15/09/ /09/2024 Quarterly BEI 10 equal payments 15/09/ /09/2024 Quarterly BEI 150, % variable diferencial Fixed (Euribor 3M %) until 15/12/12 10 equal payments 15/09/ /09/2024 Quarterly BEI 86, %(Tipo Fixed) 15 equal payments 15/09/ /09/2022 Annual DEPFA 43, %(Tipo Fixed) 15 equal payments 15/09/ /09/2022 Annual DEPFA 34, %(Tipo Fixed) 15 equal payments 15/09/ /09/2022 Annual DEPFA 73, %(Tipo Fixed) 15 equal payments 15/09/ /09/2022 Annual DEPFA 43, %(Tipo Fixed) 15 equal payments 15/09/ /09/2022 Annual DEPFA 60, %(Tipo Fixed) 15 equal payments 15/09/ /09/2022 Annual DEPFA 112, %(Tipo Fixed) 15 equal payments 15/09/ /09/2022 Annual DEPFA 52, ,000 65,000 86,667 Variable. 3.48% (Euribor 3m % a partir de 15/09/07) Variable. 3.48% (Euribor 3m % a partir de 15/09/07) Variable. 3.48% (Euribor 3m % a partir de 15/09/07) Variable. 3.48% (Euribor 3m % a partir de 15/09/07) 15 equal payments 15/09/ /09/2022 Quarterly DEPFA 15 equal payments 15/09/ /09/2022 Quarterly DEPFA 15 equal payments 15/09/ /09/2022 Quarterly DEPFA 15 equal payments 15/09/ /09/2022 Quarterly DEPFA Annual report

143 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS INTEREST RATE REPAYMENT PERIOD INTEREST PAYMENT PERIOD 265,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 100,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 135,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 50,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 100,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 50,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 100,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 150,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 50,000 Variable (Euribor % el resto) 20 equal payments 15/12/ /12/2029 Quarterly DEPFA 50,000 Variable (Euribor %) 15 equal payments 15/06/ /06/2028 Quarterly DEPFA 150,000 Variable (Euribor %) 15 equal payments 15/06/ /06/2028 Quarterly DEPFA 200,000 Variable (Euribor %) 15 equal payments 15/06/ /06/2028 Quarterly DEPFA 200,000 Variable (Euribor %) 15 equal payments 15/06/ /06/2028 Quarterly DEPFA 300,000 Variable (Euribor %) 15 equal payments 15/06/ /06/2028 Quarterly DEPFA 100,000 Variable (Euribor %) 15 equal payments 15/06/ /06/2028 Quarterly DEPFA 85,000 Fixed 4.88% until 15/19/ equal payments 15/09/ /09/2026 Annual ICO 51,000 Fixed 4.88% until 15/19/ equal payments 15/09/ /09/2026 Annual ICO 127,500 Fixed 4.88% until 15/19/ equal payments 15/09/ /09/2026 Annual ICO 42,500 Fixed 4.88% until 15/19/ equal payments 15/09/ /09/2026 Annual ICO 34,000 Fixed 4.88% until 15/19/ equal payments 15/09/ /09/2026 Annual ICO 95,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 123,500 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 76,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 52,250 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 128,250 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 190,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 95,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 95,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 95,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2028 Quarterly ICO 100,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2031 Quarterly ICO 50,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2031 Quarterly ICO 100,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2031 Quarterly ICO 150,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2031 Quarterly ICO 100,000 Variable (Euribor 3M %) 20 equal payments 15/03/ /03/2031 Quarterly ICO 50,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 50,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 100,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 100,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 75,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO BANK 338 Annual report 2009

144 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS INTEREST RATE REPAYMENT PERIOD INTEREST PAYMENT PERIOD 50,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 75,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 50,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 50,000 Variable (Euribor 3M + 0.8%) 20 equal payments 15/12/ /11/2032 Quarterly ICO 200,000 Variable (Euribor 3M + 0.8%) Maturity 29/11/2010 Quarterly ICO 100,000 Variable (Euribor 3M + 0.8%) Maturity 29/11/2010 Quarterly ICO 100,000 Variable (Euribor 3M + 0.8%) Maturity 29/11/2010 Quarterly ICO 50,188 Euribor 1M % Maturity 14/12/2010 Mensual Bankinter 96,778 Euribor 1M % Maturity 18/04/2010 Mensual Unicaja 91,228 Euribor 1M % Maturity 30/11/2011 Mensual La Caixa Loans of Aena Desarrollo Internacional: 4, % 8 October 2014 Annual BSCH 5, % 8 October 2014 Annual BSCH 1,621 Libor plus a spread 5 September 2014 Annual ICO 2, % 1 October 2017 Quarterly La Caixa 2,735 Euribor % 18 December 2010 Annual La Caixa 2,000 Euribor % 8 January 2010 Annual Caja Madrid 1,990 Euribor 3m % 17 December 2010 Annual Banesto 3,450 Euribor plus a spread (finance lease) 20 December 2016 Quarterly BBVA 11,107,138 Total borrowings (949,063) Maturing at short term 10,158,075 Maturing at long term BANK THOUSANDS OF EUROS INTEREST RATE 2008 REPAYMENT PERIOD INTEREST PAYMENT PERIOD Loans of the Parent: 80,000 Variable (4%) (12M Euribor %) Maturity 15/12/09 Annual Santander 8,194 Fixed revisable (4.67%) until 15/09/09 11 equal payments 15/09/99-15/09/09 Annual EIB 4,916 Fixed convertible (3.56%) until 15/10/09 11 equal payments 15/09/00-15/09/10 Annual EIB 14,424 Fixed revisable (4.26%) until 15/09/16 15 equal payments 15/09/02-15/09/16 Annual EIB 23,441 Fixed revisable (3.58%) until 15/03/10 15 equal payments 15/03/03-15/03/17 Annual EIB 27,046 Fixed revisable (3.62%) until 15/12/09 20 equal payments 15/12/04-15/12/23 Annual EIB 48,081 Fixed convertible (4.61%) (max. 3M Euribor %) 20 equal payments 15/03/05-15/03/24 Annual EIB 40,870 Fixed revisable (4.61%) until 15/03/24 20 equal payments 15/03/05-15/03/24 Annual EIB 25,500 Fixed revisable (3.71%) until 15/06/10 20 equal payments 15/06/06-15/06/25 Annual EIB 38,250 Fixed revisable (3.11%) until 15/03/10 20 equal payments 15/03/06-15/03/25 Annual EIB 102,000 Fixed (3.933%) until 15/03/11 20 equal payments 15/03/06-15/03/25 Quarterly EIB BANK Annual report

145 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS INTEREST RATE 2008 REPAYMENT PERIOD INTEREST PAYMENT PERIOD 54,000 Fixed revisable (3.71%) until 15/06/10 20 equal payments 15/06/07-15/06/26 Annual EIB 76,500 Fixed revisable (4.01%) until 15/12/11 20 equal payments 15/12/06-15/12/25 Annual EIB 51,000 Fixed revisable (3.66%) until 15/12/09 20 equal payments 15/12/06-15/12/25 Annual EIB 68,230 Fixed revisable (4.07%) until 15/03/12 20 equal payments 15/03/07-15/03/26 Annual EIB 18,930 Fixed revisable (3.69%) until 15/03/10 20 equal payments 15/03/07-15/03/26 Annual EIB 81,000 Fixed revisable (3.761%) until 15/03/26 20 equal payments 15/03/07-15/03/26 Annual EIB 99,524 Fixed revisable (3.968%) until 15/03/13 21 equal payments 15/03/07-15/03/27 Annual EIB 68,000 Fixed revisable (3.98%) until 15/09/11 20 equal payments 15/09/06-15/09/25 Annual EIB 66,500 Fixed revisable (3.71%) until 15/03/10 20 equal payments 15/03/08-15/03/27 Annual EIB 47,619 Fixed revisable (4.157%) until 15/03/11 21 equal payments 15/03/08-15/03/28 Annual EIB 66,500 Fixed revisable (3.75%) until 15/06/10 20 equal payments 15/06/08-15/06/27 Annual EIB 109,250 Fixed revisable (4.370%) until 15/06/12 20 equal payments 15/06/08-15/06/27 Annual EIB 57,000 Fixed revisable (4.44%) until 15/09/14 20 equal payments 15/09/08-15/09/27 Annual EIB 130,150 Fixed revisable (4.44%) until 15/09/14 20 equal payments 15/09/08-15/09/27 Annual EIB 18,000 Fixed revisable (3.83%) until 15/03/09 20 equal payments 15/03/09-15/03/28 Annual EIB 200,000 Fixed revisable (3.83%) until 15/03/09 20 equal payments 15/03/09-15/09/28 Annual EIB 200,000 Fixed revisable (3.83%) until 15/03/09 20 equal payments 15/03/09-15/09/28 Annual EIB 700,000 Fixed revisable (3.83%) until 15/03/09 18 equal payments 15/03/12-15/09/29 Annual EIB 50,000 Fixed revisable (2.95%) until 15/12/09 18 equal payments 15/03/12-15/09/29 Annual EIB 100,000 Fixed revisable (3.909%) until 15/12/29 18 equal payments 15/03/12-15/12/29 Annual EIB 150,000 Fixed revisable (3.45%) until 19/12/11 18 equal payments 15/03/12-15/12/29 Annual EIB 150,000 Fixed revisable (3.748%) until 15/06/10 18 equal payments 15/12/12-15/12/29 Annual EIB 50,000 Fixed revisable (4.129%) until 15/12/12 18 equal payments 15/12/12-15/12/29 Annual EIB 100,000 Fixed revisable (4.337%) until 15/05/12 20 equal payments 15/12/12-15/12/31 Annual EIB 100,000 Fixed revisable (4.485%) until 15/09/12 20 equal payments 15/12/12-15/12/31 Annual EIB 50,000 Fixed revisable (4.543%) until 15/09/12 20 equal payments 15/12/12-15/12/31 Annual EIB 100,000 Fixed revisable (4.367%) until 15/12/12 20 equal payments 15/12/12-15/12/31 Annual EIB 55,000 Fixed revisable (4.323%) until 15/12/12 20 equal payments 15/12/12-15/12/31 Annual EIB 95,000 Fixed revisable (3.84%) until 15/03/13 20 equal payments 15/03/13-15/03/32 Annual EIB 10,000 Fixed revisable (3.827%) until 13/12/21 10 equal payments 15/03/12-15/03/21 Annual EIB 170,000 Fixed revisable (3.12%) until 15/03/20 10 equal payments 15/03/10-15/03/20 Annual EIB 120,000 Fixed revisable (4.027%) until 19/03/13 10 equal payments 15/03/13-15/03/22 Annual EIB 100,000 Fixed revisable (3.827%) until 13/12/21 10 equal payments 19/03/13-19/03/22 Annual EIB 100,000 Fixed revisable (4.027%) until 19/03/13 10 equal payments 19/03/13-19/03/22 Annual EIB 100,000 Fixed revisable (4.027%) until 19/03/13 10 equal payments 19/03/13-19/03/22 Annual EIB 100,000 Fixed revisable (3.84%) until 15/03/13 20 equal payments 15/03/13-15/03/32 Annual EIB 150,000 Fixed revisable (3.78%) until 15/03/12 20 equal payments 15/03/14-15/03/33 Annual EIB 100,000 Fixed revisable (4.12%) until 15/03/11 20 equal payments 15/03/14-15/03/33 Annual EIB BANK 340 Annual report 2009

146 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS INTEREST RATE 2008 REPAYMENT PERIOD INTEREST PAYMENT PERIOD 150,000 Fixed revisable (4.23%) until 15/03/13 21 equal payments 15/03/13-15/03/33 Annual EIB 100,000 Fixed (3.73%) 20 equal payments 20/03/14-20/03/33 Annual EIB 490,000 Fixed (4.87%) 15 equal payments 15/09/08-15/09/22 Annual DEPFA 443,333 Variable. 3.48% (3M Euribor % from15/09/07) 15 equal payments 15/09/08-15/09/22 Quarterly DEPFA 1,000,000 Variable (3.4%) (Euribor % the remainder) 20 equal payments 15/12/10-15/12/29 Quarterly DEPFA 200,000 Variable (3.45%) (Euribor %) 15 equal payments 15/06/14 15/06/28 Quarterly DEPFA 360,000 Fixed (4.88%) until 15/19/26 20 equal payments 15/09/07-15/09/26 Annual ICO 1,000,000 Variable (3.41%) (3M Euribor %) 20 equal payments 15/03/09-15/03/28 Quarterly ICO 500,000 Variable (3.41%) (3M Euribor %) 20 equal payments 15/03/12-15/03/31 Quarterly ICO 600,000 Variable (3.41%) (3M Euribor %) 20 equal payments 15/12/13 20/11/32 Quarterly ICO 63,380 Fixed (2.46%) until 14/12/06 Maturity 14/12/09 Monthly BKT 48,601 Variable (Euribor 1m points) Maturity 19/04/14 Monthly Unicaja 85,875 Fixed (2.463%) Maturity 31/12/09 Monthly La Caixa 68,282 Variable (1M Euribor points) Maturity 31/04/14 Monthly BBVA Ineco credit facility: 931 Euribor + 0.3% 26 March 2009 Annual BSCH Loans of Aena Desarrollo Internacional: 5, % 8 October 2014 Annual BSCH 6, % 8 October 2014 Annual BSCH 2,014 Euribor plus a spread 5 September 2014 Annual ICO 3, % 1 October 2017 Quarterly La Caixa 2,414 Euribor % 28 December 2009 Annual La Caixa 3,000 Euribor % 8 December 2009 Annual Caja Madrid 3,552 Euribor plus a spread (finance lease) 20 December 2016 Quarterly BBVA 9,611,515 Total borrowings (599,090) Maturing at short term 9,012,425 Maturing at long term BANK Annual report

147 Legal Information Consolidated Financial Statements The Parent has undertaken to comply with certain general obligations to avoid early repayment of the aforementioned loans and credits. At 31 December 2009 and 31 December 2008, all the obligations relating to these loans were being met. The repayment schedule for the bank borrowings is as follows: 2009 MATURING IN THOUSANDS OF EUROS , , , , ,303 Subsequent years 8,345,857 Total 11,107,138 EJERCICIO 2008 MATURING IN THOUSANDS OF EUROS , , , , ,606 Subsequent years 7,488,202 Total 9,611,515 The detail, by bank, of the drawn down and available amounts on bank borrowings is as follows: 2009 THOUSANDS OF EUROS BANK DRAWN DOWN AVAILABLE TOTAL La Caixa 96,630 10, ,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, , ,000 Unicaja 96,778 3, ,000 KFW IPEX-Bank - 200, ,000 Banco Sabadell - 150, ,000 Dexia Sabadell - 150, ,000 BBVA 3,451 1,002,000 1,005,451 Total 11,107,138 1,673,740 12,780, Annual report 2009

148 Legal Information Consolidated Financial Statements 2008 THOUSANDS OF EUROS BANK DRAWN DOWN AVAILABLE TOTAL La Caixa 91,289 15, ,999 Caja Madrid 3,000 4,300 7,300 European Investment Bank 4,644, ,000 4,794,925 Instituto de Crédito Oficial 2,462,014-2,462,014 Depfa Bank 2,133, ,000 2,933,334 SCH 93,139 2,369 95,508 Bankinter 63,380 36, ,000 Unicaja 48,601 51, ,000 BBVA 71,833 32, ,912 Total 9,611,515 1,092,477 10,703,992 Accrued unpaid interest at 31 December 2009 and 31 December 2008 amounted to EUR 81,085 thousand and EUR 123,804 thousand, respectively. The subsidiary Aena Desarrollo Internacional has arranged an interest rate swap that hedges the risk of changes in interest rates, of fixed interest at 4.83% against a floating interest rate, on two thirds of the loan granted by La Caixa for a period shorter than that of the loan (until October 2012). The following non-current, non-trade payables relating to AENA Desarrollo Internacional are denominated or instrumented in foreign currency: EQUIVALENT VALUE IN THOUSANDS OF EUROS Bank borrowings 5,892 7,320 Current maturity -1,179-1,220 Non-current maturity 4,713 6, TAX MATTERS CURRENT TAX RECEIVABLES AND PAYABLES The detail of the tax receivables and tax payables at 31 December 2009 and 31 December 2008 is as follows: TAX RECEIVABLES THOUSANDS OF EUROS Deferred tax assets (Note 15.4) 521, ,865 Total deferred tax assets 521, ,865 Current tax assets 23,677 14,960 Withholdings and pre-payments - 1,078 Total current tax assets 23,677 16,038 Annual report

149 Legal Information Consolidated Financial Statements TAX RECEIVABLES THOUSANDS OF EUROS VAT refundable 44,803 73,262 Grants receivables Other 48, Total other accounts receivable from public authorities 93,072 73,359 The current tax asset relates to a 2003 supplementary income tax return filed by the Parent in 2008 and the supplementary tax returns for 2004 and 2005 filed by the Company in 2009 (see Note 2-g). The balance receivable in relation to grants received arises from the non-refundable grants awarded by the European Regional Development Fund (ERDF) to the Parent, which had not been received at the end of TAX PAYABLES THOUSANDS OF EUROS Other deferred tax liabilities (Note 15.6) 208, ,087 Total deferred tax liabilities 208, ,087 Current tax liabilities 1,758 3,093 Total current tax liabilities 1,758 3,093 Other tax payables 1,806 1,807 Security charge payable 655 1,862 Personal income tax withholdings 33,755 35,201 VAT payable 2,536 3,099 Accrued social security taxes payable 16,149 14,820 Total other accounts payable to public authorities 54,901 56, 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: 2009 THOUSANDS 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, Annual report 2009

150 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS 2008 INCREASE DECREASE NET Loss before tax -228,319 Permanent differences: Arising in the year 39,495-39,495 Arising in prior years - -40,173-40,173 Arising from consolidation adjustments - -4,093-4,093 Adjustments due to application of the new Spanish National Chart of Accounts- - Investment valuation allowance - -16,370-16,370 - Other Timing differences: Arising in the year 68,228-68,228 Arising in prior years - -54,451-54,451 Arising from consolidation adjustments 48,829-9,889 38,940 Adjustments due to application of the new Spanish National Chart of Accounts- - Start-up costs - -50,080-50,080 - Deferred income 7,815-7,815 - Reversion fund Plant Tax loss -238,870 The main permanent differences are due to charges and reversals of provisions for employee benefit 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. In 2008, certain adjustments relating to the first-time application of the Spanish National Chart of Accounts approved by Royal Decree 1514/2007, which affected equity, gave rise to deferred tax assets and liabilities that were reversed at 31 December 2008 for the amount corresponding to the deductible tax bases in the year. The first-time application adjustment relating to investment valuation allowances reduced the tax base to offset the increases made in prior years. Except for the aforementioned, the main permanent differences are due to charges and reversals of provisions for employee benefit obligations. Annual report

151 Legal Information Consolidated Financial Statements 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 Accounting loss before tax -492, ,319 Permanent differences -2,019-20,263 Tax loss -494, ,582 Tax charge at 30% -148,212-74,574 Tax credits and tax relief Income tax adjustments Total income tax expense recognised in profit or loss -148,114-75, 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 authorities, amounting to EUR 269,750 thousand (EUR 122,549 thousand in 2008). The tax loss carryforwards at 31 December 2009 and 31 December 2008, and the related amounts and the last years for offset are as follows: YEAR INCURRED 2009 THOUSANDS OF EUROS LAST YEAR FOR OFFSET , , , , ,782 YEAR INCURRED 2008 THOUSANDS OF EUROS LAST YEAR FOR OFFSET , , , ,239 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 Depreciation and amortisation of assets 52,829 64,640 Write-down of trade receivables 10,773 8,381 Non-current remuneration payable 471 2,154 Provisions for non-current assets -4, Provisions for employee benefit obligations 115, ,602 Provision for contingencies and charges 1, Taxes 15,219 15,219 Corrective mechanism 41,971 41,971 Other 17,610 15,009 Total 251, , Annual report 2009

152 Legal Information Consolidated Financial Statements 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 probable that these assets will be recovered DEFERRED TAX ASSETS NOT RECOGNISED The Parent s tax credit carryforwards earned in prior years are as follows: 2009 THOUSANDS OF EUROS YEAR DOUBLE 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 (*) , (*) - 3,983-18, ,005 6, , ,459 3, , ,630 2,518-23, Total 8,094 16,380 1, ,408 2,692 2,806 (*) Amounts taken through supplementary tax returns for 2004 and 2005 filed in February THOUSANDS OF EUROS YEAR DOUBLE 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 , ,339 6, , ,664 3, , Total 5,003 9,879 1,501 66,706 1,748 1,865 At 31 December 2009 and 31 December 2008, the Parent had not recognised these tax credits in the consolidated 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 Desarrollo Internacional, S.A.: Annual report

153 Legal Information Consolidated Financial Statements YEAR TAX LOSSES DOUBLE TAXATION TAX CREDITS THOUSANDS OF EUROS TAX CREDITS FOR EXPORT ACTIVITIES TAX CREDITS FOR TRAINING ACTIVITIES ,590-8, , ,758 1,928 13, 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: Provisions for noncurrent assets Provisions for employee benefit obligations Provisions for third-party liabilities THOUSANDS OF EUROS ,536 16,536 6,340 6,340 3,455 3,455 Deferred income Financial hedging instruments Taxes Grants 180, ,596 Other Total 208, , 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 This tax audit is currently in progress. At the end of 2009, the Company had 2002 and subsequent years open for review for income tax and 2005 and subsequent years for all other taxes applicable to it. The subsidiary INECO is currently being audited for the main taxes applicable to it for 2004, 2005 and The directors consider that the tax audits will not give rise to any liabilities additional to those already recog- 348 Annual report 2009

154 Legal Information Consolidated Financial Statements nised. The Company has 2005 to 2009 open for review by the tax authorities for income tax, VAT and personal income tax withholdings. At the end of 2009, the subsidiary Aena Desarrollo Internacional S.A. had 2005 and subsequent years open for review for by the tax authorities for income tax and 2006, 2007, 2008 and 2009 for the other taxes applicable to it. At the end of 2009, the subsidiary CLASA had 2005 and subsequent years open for review for by the tax authorities for income tax and 2006 and subsequent years for the other taxes applicable to it. The Parent 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 financial statements. The Economic Interest Grouping ( EIG ) and subsidiary CRIDA has 2009 open for review by the tax authorities for all the taxes applicable to it. The EIG s directors and their tax advisors consider that no material contingencies would arise in the event of a tax audit, in connection with the possible interpretations of the tax legislation applicable to the transactions performed by the EIG. 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 and Ingeniería y Economía del Transporte, the breakdown being as follows: THOUSANDS OF EUROS Airport revenue: Air traffic revenue Landing , ,417 Parking 8,224 8,336 Use of infrastructures 484, ,993 Passenger boarding bridges 117, ,787 Cargo handling 12,947 13,630 Security charge 127, ,204 Other Subtotal of air traffic revenue 1,117,678 1,144,827 Non-air traffic revenue: In-flight catering services 9,775 11,421 Premises, land and desk rent 25,100 23,903 Check-in desks 23,982 25,655 Services provided to concession holders 22,091 27,167 Restricted area access clearance Use of lounges and unspecified areas 12,734 13,466 Ramp handling 71,375 75,378 Other 3,659 3,228 Subtotal of non-air traffic revenue 169, ,053 Commercial revenue: Fuel 24,349 25,023 Premises and land rent 44,198 46,025 Commercial operations 193, ,011 Bars and restaurants 67,939 67,865 Car rental 96,647 85,254 Vehicle parking 105, ,299 Advertising 24,509 33,701 Services provided to concession holders 15,837 14,674 Other Subtotal of commercial revenue 572, ,012 Air traffic control: En-route navigation aids 809, ,519 Approach navigation aids 191, ,248 Publications and other services 7,298 5,818 Subtotal of air traffic control 1,008,035 1,053,585 Other lines of business: Airport logistics 24,324 24,553 International development 8,485 7,002 Annual report

155 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS Consulting 185, , , ,526 Consolidation adjustments -95,060-96,320 Total revenue 2,991,389 3,112,683 The equivalent value of sales in foreign currency, made in US dollars, was EUR 4,684 thousand. B) PROCUREMENTS The breakdown of Procurements in 2009 and 2008 is as follows: THOUSANDS OF EUROS Other procurements Changes in inventories of other procurements -64 1,163 Work performed by other companies 113, ,065 Impairment losses on other procurements 6 - Total 114, ,405 D) OUTSIDE SERVICES The breakdown of Outside Services is as follows: THOUSANDS OF EUROS R&D expenditure Rent and royalties 18,549 23,620 Repairs and upkeep 327, ,610 Independent professional services 38,036 35,472 Insurance Premiums 17,749 17,417 Transport Banking services 2,194 2,583 Advertising and public relations 18,296 22,256 Utilities 114, ,361 Surveillance and security services 132, ,687 Other services 245, ,981 Total 916, ,405 E) FINANCIAL LOSS The financial loss was as follows: 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 Employer social security costs 148, ,296 Contributions to employee benefit obligations 6,178 5,813 Other employee benefit costs 47,545 48,800 Total 202, ,909 THOUSANDS OF EUROS Income: Income from equity investments 1, Other interest and similar income 864 2,403 Change in fair value of financial instruments - 10 Exchange gains Total financial profit 2,091 2,984 Costs: Interest on loans -289, ,403 Other finance costs Interest cost relating to provisions -69,171-42,822 Capitalisation of finance costs (Notes 5 and 6) 73,653 97,325 Change in fair value of financial instruments Exchange losses Annual report 2009

156 Legal Information Consolidated Financial Statements THOUSANDS OF EUROS Impairment on financial instruments - -14,522 Total financial loss -285, ,894 Net financial loss -283, ,910 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 45,975 thousand (EUR 21,184 thousand in 2008) were recognised for late-payment interest on compulsory purchases, the associated provision for which is discussed in Note This heading also includes EUR 21,399 thousand (EUR 21,612 thousand in 2008) corresponding to the interest cost relating to provisions for the remuneration of employees (see Note 13.1) and EUR 1,759 thousand in connection with the unwinding of the provision for soundproofing (see Note 12.1). F) OTHER DISCLOSURES The number of employees at 31 December 2009 and 31 December 2008, by category and gender, were as follows: NUMBER OF EMPLOYEES AT 31 DECEMBER 2009 (*) PROFESSIONAL CATEGORY MEN WOMEN TOTAL Senior executives Executives and university graduates 1, ,985 Coordinators 1, ,131 NUMBER OF EMPLOYEES AT 31 DECEMBER 2008 (*) PROFESSIONAL CATEGORY MEN WOMEN TOTAL Senior executives Executives and university graduates 1, ,796 Coordinators 1, ,502 Line personnel 5,191 2,558 7,749 Support staff Controllers 1, ,335 Total 9,684 4,719 14,403 (*) The number of temporary employees at 31 December 2008 was 1,533. The average headcount in 2009 and 2008, by professional category, was as follows: NUMBER (*) PROFESSIONAL CATEGORY Senior executives Executives and university graduates 1,925 1,678 Coordinators 2,066 1,481 Line personnel 7,148 7,691 Support staff 1, Controllers 2,361 2,334 Total 14,892 14,188 (*) The average number of temporary employees in 2009 was 1,608 and 1,683 in The Group s Board of Directors has 30 members, 25 men and 5 women. Line personnel 4,884 2,447 7,331 Support staff ,386 Controllers 1, ,404 Total 10,169 5,087 15,256 (*) The number of temporary employees at 31 December 2008 was 1,650. Annual report

157 Legal Information Consolidated Financial Statements Remuneration of directors and senior executives The 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): SALARIES ATTENDANCE FEES OTHER ITEMS PENSION PLANS INSURANCE PREMIUMS TOTAL Senior executives(*) 2, ,123 Board of Directors (*) Including the wages of the Chairman of the Board of Directors, who is also a senior executive, as well as the senior executives 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. SALARIES ATTENDANCE FEES OTHER ITEMS PENSION PLANS INSURANCE PREMIUMS TOTAL Senior executives(*) 3, ,111 Board of Directors (*) Including the wages of the Chairman of the Board of Directors, who is also a senior executive, as well as the senior executives of the subsidiaries. Fees paid to auditors The fees for the audit of the Parent s financial statements are borne by the Ministry of Economy and Finance (Spanish State Auditing Agency). Also in the same year, services other than auditing services were provided by the audit firm and other companies associated therewith amounting to EUR 733 thousand (EUR 1,335 thousand in 2008). Additionally, the fees billed in connection with the audit of the financial statements of certain subsidiaries amounted to EUR 123 thousand (EUR 117 thousand in 2008) 17. GUARANTEES AND OTHER SURETIES GRANTED The Parent has provided guarantees amounting to EUR 535 thousand( EUR 728 thousand in 2008). The Parent s directors do not expect these guarantees to give rise to any material liabilities. Also, the Parent is the joint and several guarantor of all the loans and credits that the subsidiary AENA Desarrollo Internacional, S.A. had arranged with banks (see Note 14). At 31 December 2009 and 2008, the subsidiary Aena Desarrollo Internacional, S.A. had provided bank guarantees amounting to USD 151 thousand and USD 55 thousand, respectively, (equal to EUR 105 thousand and EUR 40 thousand, respectively, at those dates), to guarantee fulfilment of the contracts entered into with customers, mainly the airports of the GAP Group and ACSA, respectively. The Company s directors consider that the guarantees provided will not give rise to material liabilities. Also, at 31 December 2009 the subsidiary Aena Desarrollo Internacional, S.A. had proved, together with the other shareholders of ESSP SAS, a joint and several financial guarantee amounting to EUR 10 mil- 352 Annual report 2009

158 Legal Information Consolidated Financial Statements lion to the European Commission, which will secure the payments advanced by the Commission for the EG- NOS Signal Service Provision Contract Plan A. The shareholders of ESSP SAS are also obliged, based on the related shareholders agreement, to limit their liability in proportion to their respective ownership interests; 16.66% of this amount corresponds to the Company. To pursue its ordinary activity, the investee Ingeniería y Economía del Transporte, S.A. has provided technical guarantees of EUR 34,865 thousand (EUR 40,652 thousand in 2008) to secure the performance of service contracts which were awarded to it. Lastly, the company Clasa received guarantees from and provided guarantees to customers totalling EUR 1,157 thousand (EUR 13,143 thousand in 2008) and EUR 245 thousand ( EUR 246 thousand in 2008), respectively. THOUSAND OF EUROS Palma de Mallorca ,316 Barcelona 751 6,164 Madrid/Barajas 2,578 2,988 Tenerife Norte 525 1,659 Alicante 29,560 1,019 Bilbao 20,814 - Málaga Valencia Menorca Gran Canaria 6, Ibiza 6,395 - Vigo 6,155 - SSCC Navegación Granada-Jaén Cuatro Vientos La Palma 2,307 - Resto divisiones 2,988 2,932 Total 81,424 28, 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. The breakdown of the environmental expenses included in the 2009 and 2008 consolidated income statement is as follows: THOUSAND OF EUROS Repairs and upkeep 9,806 8,490 Independent professional services 1,597 2,081 Other outside services 3,771 3,610 Total 15,174 14,181 At 31 December 2009, property, plant and equipment included investments of an environmental nature amounting to EUR million ( EUR million in 2008, the accumulated depreciation of which amounted to EUR million (EUR 85 million in 2008). The environmental investments made in 2009 and 2008 amounted to EUR 81.4 million and EUR 28.6 million respectively, the breakdown being as follows: Provisions and contingencies of an environmental nature are detailed in Notes 13.1 and The Company s directors do not expect any additional material liabilities or contingencies to arise in this connection. 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 Annual report

159 Legal Information Consolidated Financial Statements November 2001, AENA is carrying out the sound insulation of certain housing units near Madrid-Barajas airport. At 31 December 2009, more than 12,601 homes had been insulated (12,535 at 31 December 2008). 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 2009 year-end, 1,563 and 703 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, corrective 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 As indicated in Note 2-c, Royal Decree-Law 1/2010, regulating the provision of air traffic services, stipulating the obligations of civil providers of the aforementioned services, and setting specific working conditions for civil air traffic controllers, was approved on 5 February This legislation approves the opening of air navigation services to new certified providers, the immediate implementation of aerodrome flight information services (AFIS) in airports with a lower volume of traffic and a temporary change in certain working conditions of controllers, including most notably, that they may not avail themselves of Special Paid Leave for a period of three years, and must work, without fail, the hours required to guarantee continuity and sustainability of services, without exceeding 1,750 hours. In addition, it provides for the proposal of a gradual reduction in the route and approach charges to bring them into line with the average of the main service providers in Europe. On 2 February 2010, the subsidiary Aena Desarrollo Internacional S.A. provided, together with the other shareholders of ESSP SAS, a second joint and several financial guarantee amounting to EUR 10 million to the European Commission (see Note 17) to cover, where necessary, the liability established in Article 38.1 of the aforementioned EGNOS Signal Service Provision Contract Plan A, in order to ensure coverage of the maximum liability of the shareholders of ESSP SAS if they could not satisfy the terms and conditions of the aforementioned contract. The shareholders of ESSP SAS are also obliged to enter into the related shareholders agreement in order to limit their liability in proportion to their respective ownership interests; 16.66% of this amount corresponds to the Company. Lastly, the aforementioned subsidiary granted a loan to Airport Concessions and Development Limited (ACDL). On 22 December 2006, the parties agreed to amend the terms and conditions of the Original Facility Agreement entered into on 14 January 2005, reducing the limit granted to GBP 1.5 million, with maturity on 7 December 2009 and maintaining the interest on the loan tied to LIBOR. On 16 March 2010, 354 Annual report 2009

160 Legal Information Consolidated Financial Statements effective 7 December 2009, an extension to this loan was executed, based on the same aforementioned terms and conditions and setting a new maturity date of 30 June EXPLANATION ADDED FOR TRANSLATION TO ENGLISH As indicated in Note 2-c, Royal Decree-Law 1/2010, regulating the provision of air traffic services, stipulating the obligations of civil providers of the aforementioned services, and setting specific working conditions for civil air traffic controllers, was approved on 5 February This legislation approves the opening of air navigation services to new certified providers, the immediate implementation of aerodrome flight information services (AFIS) in airports with a lower volume of traffic and a temporary change in certain working conditions of controllers, including most notably, that they may not avail themselves of Special Paid Leave for a period of three years, and must work, without fail, the hours required to guarantee continuity and sustainability of services, without exceeding 1,750 hours. In addition, it provides for the proposal of a gradual reduction in the route and approach charges to bring them into line with the average of the main service providers in Europe. Annual report

161 Legal Information Consolidated Financial Statements Individual balance sheets Entidad pública empresarial Aeropuertos Españoles y Navegación Aérea Translation of financial statements originally issued in Spanish and prepared in accordance with generally accepted accounting principles in Spain (see Notes 2 and 17). In the event of a discrepancy, the Spanish-language version prevails. BALANCE SHEETS AT 31 DECEMBER 2009 AND 2008 (THOUSANDS OF EUROS) ASSETS NOTES EJERCICIO 2009 EJERCICIO 2008 Non-current assets: Intangible assets Nota 5 289, ,431 Development expenditure 86,117 24,640 Computer software 122, ,728 Other intangible assets 80, ,063 Property, plant and equipment- Nota 6 15,894,265 15,092,083 Land and buildings 10,124,496 9,034,836 Plant and other items of property, plant and equipment 845, ,390 Other fixtures, tools and furniture 2,114,950 1,537,830 Other items of property plant and equipment 93,058 72,106 Property, plant and equipment in the course of construction 2,716,142 3,668,921 Non-current investments in group companies and associates 192, ,313 Equity instruments Nota 8.1-A 111, ,884 Loans to companies Nota 8.1-B 81,055 88,429 Non-current financial assets 1,438 1,020 Equity instruments Nota 8.1-A Derivatives Nota Other financial assets Deferred tax assets Nota , ,174 Total non-current assets 16,884,246 15,926,021 Current assets: Inventories Nota 10 5,906 5,848 Trade and other receivables- 455, ,907 Trade receivables for sales and services Nota 8.1-D 337, ,254 Receivable from group companies and associates Nota 8.1-B 11,664 12,392 Sundry accounts receivable 542 7,949 Employee receivables 2,054 1,803 Current tax assets Nota ,677 14,960 Other accounts receivable from public authorities Nota ,883 63,549 Current investments in group companies and associates Nota 8.1-B 5,035 6,354 Loans to companies 3,897 5,216 Other financial assets 1,138 1,138 Current financial assets Nota 8.1-C 6,456 35,358 Other financial assets 6,456 35,358 Current prepayments and accrued income 8,318 7,919 Cash and cash equivalents 1, Total current assets 482, ,250 Total assets 17,366,732 16,432, Annual report 2009

162 Información legal Individual balance sheets BALANCE SHEETS AT 31 DECEMBER 2009 AND 2008 (THOUSANDS OF EUROS) EQUITY AND LIABILITIES NOTES EJERCICIO 2009 EJERCICIO 2008 Equity: Shareholders' equity Nota 11 3,268,862 3,655,202 Equity 3,099,018 3,099,018 Reserves 724, ,054 Legal and bylaw reserves 479, ,043 Other reserves 244, ,011 Retained losses (201,870) (36,667) Loss for the year (352,899) (165,203) Valuation adjustments Valuation adjustments Nota Grants, donations or gifts and legacies received Nota 11-d 423, ,912 Total equity 3,692,679 4,040,114 Non-current liabilities: Long-term provisions- Nota , ,594 Provisions for long-term employee benefit obligations 410, ,487 Provisions for environmental costs 97,433 52,507 Other provisions 18,837 22,600 Non-current payables- Nota 8.2-A 10,143,396 8,994,457 Bank borrowings and other financial liabilities 10,143,396 8,994,457 Deferred tax liabilities Nota , ,081 Total non-current liabilities 10,879,376 9,652,132 Current liabilities: Short-term provisions Nota , ,753 Current payables- Nota 8.2-B 2,115,997 2,001,327 Bank borrowings and other financial liabilities 1,020, ,447 Other financial liabilities 1,095,805 1,287,880 Current payables to group companies and associates- Nota 8.1-B 23,284 38,186 Trade and other payables- Nota 8.2-B 407, ,759 Payable to suppliers Sundry accounts payable 250, ,521 Remuneration payable 81,938 75,537 Other accounts payable to public authorities Nota ,477 50,043 Customer advances 26,661 35,876 Total current liabilities 2,794,677 2,740,025 Total liabilities 17,366,732 16,432,271 The accompanying Notes 1 to 17 are an integral part of the balance sheet at 31 December Annual report

163 Información legal Individual balance sheets INCOME STATEMENTS FOR 2009 AND 2008 (THOUSANDS OF EUROS) NOTES EJERCICIO 2009 EJERCICIO 2008 Continuing operations Revenue Nota 14-b 2,867,753 2,986,477 In-house work on non-current assets Nota 6 11,285 14,088 Procurements Nota 14-a (63,295) (74,726) Cost of raw materials and other consumables used (202) (1,349) Work performed by other companies (63,087) (73,377) Losses on impairment of raw materials and other consumables (6) - Other operating income 13,384 12,999 Non-core and other current operating income 11,604 11,618 Income-related grants transferred to profit or loss 1,780 1,381 Staff costs Nota 14-c (1,206,692) (1,201,387) Wages, salaries and similar expenses (1,017,777) (1,017,531) Employee benefit costs (178,818) (171,123) Provisions (10,097) (12,733) Other operating expenses (1,087,528) (983,406) Outside services Nota 14-d (927,686) (859,808) Taxes other than income tax (95,180) (91,769) Losses on, impairment of and change in allowances for trade receivables Nota 8.1-d (40,175) (9,917) Other current operating expenses (24,487) (21,912) Depreciation and amortisation charge Notas 5 y 6 (793,745) (701,064) Allocation to profit or loss of grants related to non-financial noncurrent assets and other grants 26,885 30,007 Excessive provisions 4,862 8,409 Impairment and gains or losses on disposals of non-current assets Notas 5 y 6 (16,105) (11,134) Other gains or losses (1,399) (1,073) Profit from operations (244,595) 79,190 Finance income 20,378 18,643 From investments in equity instruments 18,128 12,100 - Group companies and associates 18,128 12,100 From marketable securities and other financial instruments 2,250 6,543 - Group companies and associates Nota 8.1-b 1,576 4,745 - Third parties ,798 Finance costs- (283,737) (339,978) On debts to third parties (288,257) (394,507) Interest cost relating to provisions (69,133) (42,796) Capitalisation of finance costs 73,653 97,325 Exchange differences (10) 8 Financial loss Nota 14-e (263,369) (321,327) Loss before tax (507,964) (242,137) Income tax Nota ,065 76,934 Loss for the year from continuing operations (352,899) (165,203) Loss for the year (352,899) (165,203) The accompanying Notes 1 to 17 are an integral part of the income statement at 31 December Annual report 2009

164 Información legal Individual balance sheets STATEMENTS OF CHANGES IN EQUITY FOR 2009 AND 2008 A) STATEMENT OF RECOGNISED INCOME AND EXPENSE (THOUSANDS OF EUROS) NOTES EJERCICIO 2009 EJERCICIO 2008 A) Loss per income statement (352,899) (165,203) Income and expenses recognised directly in equity Arising from cash flow hedges Nota Grants, donations or gifts and legacies received 32,530 92,141 Arising from actuarial gains and losses and other adjustments Nota 12.1-a (24,735) (16,295) Tax effect Nota 13.3 (2,463) (22,754) B) Total income and expenses recognised directly in equity 5,743 53,092 Transfers to profit or loss Grants, donations or gifts and legacies received (26,885) (30,006) Tax effect Nota ,066 9,000 C) Total transfers to profit or loss (18,819) (21,006) TOTAL RECOGNISED INCOME AND EXPENSE (A + B + C) (365,975) (133,117) The accompanying Notes 1 to 17 are an integral part of the statement of changes in equity at 31 December STATEMENTS OF CHANGES IN EQUITY FOR 2009 AND 2008 B) STATEMENT OF CHANGES IN TOTAL EQUITY (THOUSANDS OF EUROS) ASSIGNED EQUITY AND ASSETS BYLAW RESERVES OTHER RESERVES RETAINED LOSSES LOSS FOR THE YEAR VALUATION ADJUSTMENTS GRANTS, DONATIONS OR GIFTS AND LEGACIES RECEIVED TOTAL EQUITY Balance at 2007 year-end 3,099, , ,417 (26,444) (10,223) - - 4,181,255 Adjustments due to transition to new spanish - (349,444) ,420 (8,024) national chart of accounts Adjustments due to errors in 2007 and prior years Adjusted balance at beginning of ,099, , ,417 (26,444) (10,223) - 341,420 4,173,231 Total recognised income and expenses - - (11,406) - (165,203) - 43,492 (133,117) Allocation of 2007 loss (10,223) 10, Balance at 2008 year-end 3,099, , ,011 (36,667) (165,203) - 384,912 4,040,114 Ajustes por cambios de criterio 2008 (note 2-f) ,666 34,666 Adjusted balance at beginning of ,099, , ,011 (36,667) (165,203) - 419,578 4,074,780 Total recognised income and expenses - - (17,315) - (352,899) 288 3,951 (365,975) Allocation of 2008 loss (165,203) 165, Other changes in equity (note 2-g) - (16,126) (16,126) Balance at 2009 year-end 3,099, , ,696 (201,870) (352,899) ,529 3,692,679 Las notas 1 y siguientes hasta la 17 incluida descritas en la Memoria adjunta forman parte integrante del estado total de cambios en el patrimonio correspondiente al ejercicio Annual report

165 Información legal Individual balance sheets ESTADO DE CAMBIOS EN EL PATRIMONIO NETO DE LOS EJERCICIOS 2009 Y 2008 A) ESTADO DE INGRESOS Y GASTOS RECONOCIDOS (MILES DE EUROS) EJERCICIO 2009 EJERCICIO 2008 Cash flows from operating activities (I) 209, ,586 Loss for the year before tax (507,964) (242,137) Adjustments for: 1,185,713 1,064,858 - Depreciation and amortisation charge 793, ,064 - Impairment losses 40, Changes in provisions 122,346 82,264 - Recognition of grants in profit or loss (26,885) (30,007) - Gains/losses on derecognition and disposal of non-current assets 16,136 12,256 - Finance income (20,378) (18,706) - Finance costs 260, ,979 - Exchange differences (10) 8 Changes in working capital (125,136) 3,340 - Inventories (64) 1,171 - Trade and other receivables 11,212 (17,183) - Other current assets 1, Trade and other payables (128,665) 14,207 - Other current liabilities (8,652) 4,727 Other cash flows from operating activities (343,541) (380,475) - Interest paid (367,613) (414,577) - Dividends received 18,128 12,100 - Interest received 2,368 6,607 - Income tax recovered (paid) 3,576 15,395 Cash flows from investing activities (II) (1,733,913) (2,073,901) Payments due to investment (1,771,725) (2,123,645) - Group companies and associates (9,000) (2,181) - Intangible assets (90,423) (91,869) - Property, plant and equipment (1,672,296) (2,029,595) - Other financial assets (6) - Proceeds from disposal 37,812 49,744 - Group companies and associates 9,028 11,114 - Intangible assets - 1,573 - Property, plant and equipment 1,313 15,581 - Other financial assets 27,471 21,476 Flujos de efectivo de las actividades de financiación (III) 1,525,233 1,628,055 Proceeds and payments relating to equity instruments 33,782 92,141 - Grants, donations or gifts and legacies received 33,782 92,141 Proceeds and payments relating to financial liability instruments 1,491,451 1,535,914 - Proceeds from issue of bank borrowings 1,850,000 1,785,498 - Repayment of bank borrowings (351,747) (172,902) - Repayment of other borrowings (6,802) (76,682) Effect of foreign exchange rate changes (IV) 10 (8) Net increase/decrease in cash and cash equivalents (I+II+III+IV) 402 (268) Cash and cash equivalents at beginning of year 864 1,132 Cash and cash equivalents at end of year 1, Las notas 1 y siguientes hasta la 17 incluida descritas en la Memoria adjunta forman parte integrante del estado de flujos de efectivo correspondiente al ejercicio Annual report 2009

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167 Con el objeto de minimizar el posible impacto ambiental de esta publicación Aena ha utilizado papel 100% reciclado y libre de cloro tanto para las cubiertas como para los interiores aunque ello conlleve una blancura menor de sus hojas. In order to reduce the possible environmental impact of this publication, Aena has used 100% chlorine free recycled paper both for the cover and the interiors although papers appear slightly less white. Dirección y edición: Dirección de Comunicación de Aena. Management and Edition: Aena s Communication Directorate. Diseño: Inventa. Design: Inventa. Producción e impresión: Grupo AGA. Production and printing: Grupo AGA. Fotografía: Archivo Gráfico de Aena (Agaena). Depósito legal: M Legal deposit: M

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