Aena Internacional is a shareholder in Grupo Aeroportuario del Pacífico (GAP), which operates 12 airports in Mexico.

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2 Aena Internacional is a shareholder in Grupo Aeroportuario del Pacífico (GAP), which operates 12 airports in Mexico.

3 General Information International Development

4 72 Annual Report 2006 Aena Internacional The year 2006 was characterised by the continued progress in the airport activity sector, with a certain slow-down occurring following significant growth in previous years. Aena Internacional has continued developing its presence in airports, via stakes it holds under different schemes in 27 airports in Latin America (Mexico, Colombia, Bolivia and Costa Rica), the European Union (the United Kingdom and Sweden) and the United States of America. Passengers dealt with at the aforementioned airports in 2006 were in excess of 47.8 million. This increase in traffic, the development of commercial activities and the contention of costs, have brought about global improvement in airport turnover results, especially in Latin America. As a general rule, Aena Internacional has continued rendering support and technical assistance services in airports where it is present and especially in those where it is acting in its capacity as shareholder-operator. Also in 2006, Aena Internacional has increased its participation in the company Aeropuerto Mexicanos del Pacífico (AMP), a strategic partner of the Grupo Aeroportuario Pacífico de México, and now has a share of 33.33%. Airports managed / participated by Aena Internacional in 2006 SWEDEN: Stockholm- Skavsta UNITED KINGDOM: Belfast International London-Luton Cardiff International UNITED STATES: Burbank Atlanta Orlando Sanford SPAIN: 47 airports 1 heliport MEXICO: Tijuana Los Cabos Puerto Vallarta Los Mochis La Paz Hermosillo Guadalajara Guanajuato-Bajío Aguascalientes Manzanillo Mexicali Morelia COSTA RICA: San José de Costa Rica COLOMBIA: Barranquilla Cartagena Cali CUBA: Cayo Coco BOLIVIA: La Paz Cochabamba Santa Cruz

5 General Information International Development 73 In the air navigation area, Aena Internacional has continued to support Aena in the development of its position in Europe through different business alliances with other European service providers. In this area we can highlight work undertaken in 2006 with the aim of creating an In-flight Verification Unit to provide Aena s radio-help calibration service. As a consequence of activities carried out, together with optimal performance of the financial results of the airports it holds stakes in, moderation of expenses in the development of its activities and the increase in dividends from Latin American companies, the results reached have been very positive considering that the strength of the Euro against American currencies has meant that the good performance of Aena Internacional s companies operating in these currencies is not as visible in the group s accounts. Company Stakes held by Aena Internacional 100% Aena Desarrollo Internacional S.A % Aeropuertos Mexicanos del Pacífico 40% 37.89% 33.34% 10% 16.67% 50% 17.3% Grupo Aeroportuario del Pacífico Aeropuertos del Caribe S.A. Sociedad Aeroportuaria de la Costa S.A. Aerocali ACDL European Satelite Services Provider SACTA ATM 100% Guadalajara Tijuana Puerto Vallarta S. José del Cabo Hermosillo Bajío Morelia La Paz Mexicali Aguascalientes Manzanillo Los Mochis Barranquilla Cartagena de Indias Cali London Luton Cardiff International Belfast International Stockholm Skavsta Orlando Sanford 3 Airports in Bolivia 3 Management Contracts in Atlanta, Burbank (USA) and Costa Rica

6 74 Annual Report 2006 Mexico Grupo Aeroportuario del Pacífico (Mexico) The stake of Aena Internacional in Grupo Aeroportuario del Pacífico (GAP), which operates 12 airports in Mexico, is held via the company Aeropuertos Mexicanos del Pacífico (AMP). At the same time, this company is GAP s strategic partner, with 17.3% of the capital and a management and technology transfer contract, where Aena Internacional is GAP s shareholderoperator. In February 2006, 85% of GAP, which was owned by the Mexican Government, was successfully placed on the Stock Exchange, with GAP becoming the largest privatised airport group in America by traffic and results. Airport Activities Historical highs in the airport group s traffic have been reached in 2006, with passenger movements over 20.5 million, with low-cost airline activities as one of the highlights, together with the good performance of international traffic. Evolution of Earnings in Mexico MM pesos mex ,500 3,000 2,500 2,000 1,500 1, Total Aeronautical Non- Expenses EBITDA Net Income Income Aeronautical Income Income Comparison of the 12 Airports Operated in Mexico Passengers National International Total Growth Operations Growth Load Tnm Passengers Passengers Passengers 06/05 06/05 Aguascalientes 254, , , % 11, % 973 Guanajuato 666, ,403 1,156, % 30, % 1,568 Guadalajara 3,999,659 2,350,722 6,350, % 138, % 123,663 Hermosillo 1,061,045 96,177 1,157, % 46, % 6,530 La Paz 431,078 28, , % 20, % 2,601 Los Mochis 203,476 6, , % 20, % 55 Morelia 310, , , % 18, % 212 Manzanillo 119, , , % 8, % 111 Puerto Vallarta 652,244 2,326,134 2,978, % 45, % 2,305 Mexicali 498,334 3, , % 12, % 2,373 Los Cabos 536,753 2,184,385 2,721, % 42, % 3,178 Tijuana 3,743,611 15,862 3,759, % 51, % 17,028 Mexico Total 12,476,887 8,037,519 20,514, % 445, % 160,596

7 General Information International Development 75 Colombia Main Strategies 2006 s main undertakings were carried out on airfields (runway upgrading, taxiway construction and fast exits and platform extensions) and terminal buildings (extensions in Guadalajara and Puerto Vallarta) as part of a continued effort to adapt and improve installations and infrastructure. As far as commercial aspects are concerned, new areas have been developed in the airports in Guadalajara, Puerto Vallarta and San José del Cabo, with a unique brand image, and the extension of new business areas has been sought, based on the best customer assistance and service practices. Aena Internacional activities in Colombia take place at three airports: Cali, Cartagena de Indias and Barranquilla, through the stakes in the capital of various licensee companies as operator-shareholder. In 2006, we can highlight the large increase in traffic in Cartagena airport and the development, on Aena s behalf, of the Master Plan at Cali and Cartagena airports in the framework of their future development. The ISO 9001:2000 standards in Accessibility, Environmental Compliance and Quality have been maintained. Earnings The year closed with a significant improvement over 2005 mainly due to the increase in traffic and related income, maintenance of good operational margins and the fiscal improvements. Comparison of the three Airports Operated in Colombia Passengers National International Total Growth Operations Growth Load Tnm Passengers Passengers Passengers 06/05 06/05 Barranquilla 891, ,552 1,048, % 23, % 30,183 Cartagena 1,187, ,989 1,377, % 26, % 8,304 Cali 1,916, ,780 2,355, % 37, % 42,947 Colombia Total 3,995, ,321 4,780, % 88, % 81,434

8 76 Annual Report 2006 TBI Aena Internacional participates in the company TBI plc. through the company Airports Concessions and Development Limited (ACDL), the owner of 100% of the company. Aena Internacional owns 10% of ACDL s capital. The 90% stake remaining is held by the Spanish company Abertis Infraestructuras, S.A. TBI operates airports in Luton, Belfast and Cardiff in the United Kingdom, either in ownership or as a licensee, as well as Orland Sanford in the USA, La Paz, Santa Cruz and Cochabamba in Bolivia and Skavsta in Sweden. It also has various Operation and Management contracts in Costa Rica and in Atlanta and Burbank in the USA. In 2006, there have been important investment activities in the main airports in the group (Luton, Belfast and Cardiff) and an important increase in commercial income has resulted from the actions implemented. Airports participated through TBI in 2006 Passengers Total Passengers Growth 2006 / 2005 Luton 9,435, % Belfast 5,021, % Cardiff 2,000, % Skavsta 1,757, % Orlando 1,642, % Santa Cruz 940, % La Paz 833, % Cochabamba 577, % TBI 22,206, % Evolution of Passengers in Airports Participated by TBI 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 Passengers 2005 Passengers 2006 Growth 2006 / 2005 Luton Belfast Cardiff Skavsta Orlando Santa Cruz La Paz Cochabamba 14% 12% 10% 8% 6% 4% 2% 0% Stockholm-Skavsta Airport.

9 General Information International Development 77 Cuba Air Navigation In 2006, Aena Internacional has continued carrying out its contract for the management of the Jardines del Rey International Airport (AIJR) in Cayo Coco, managed jointly with ECASA, a Cuban airports and air navigation company, actively taking part in different committees and Boards of Directors. Likewise, following the request of ECASA, operational, technical, commercial and management consulting services have been provided to ECASA S central services, as well as to the José Martí International Airport in Havana. In 2006, Aena Internacional has continued to manage the Aena s stake in ESSP (European Satellite Service Provider), which groups the main European Air Navigation providers together and which aspires to become the future operator-service provider EGNOS. Aena Internacional has lent its support to Aena in the development of the Galileo Project to configure a European satellite navigation system. This project is the first example of a public-private company supported by the European Union. In 2006 progress has been made in the negotiation of a licence contract between the future Licensee and the European Supervision Authority. In 2006, we have continued to lend our support to Aena in the negotiation of a Cooperation Agreement with NATS for the joint development of the SACTA system. The cooperation project is currently under review after a process seeking cooperation options in the medium- and long-term commenced, as the terms initially proposed involved risks and difficulties for their immediate commissioning which the parties do not wish to take on. Aena Internacional has started the creation of an in-flight radio-help verification system. With this aim, a business plan has been defined and the process to obtain equipment and services necessary for operations has begun, starting with the acquisition of an In-flight Automatic Monitoring System. In 2006 Aena Internacional created a unit for in-flight testing of Navigational Aids.

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