Overview

• The €12.888 billion package earmarks about €4 billion for Madrid–Barajas, more than €3 billion for Barcelona–El Prat, roughly €1 billion for Alicante, and major sums for Málaga (~€1.5 billion) and the Canary Islands (~€2 billion).
• At El Prat, the plan aims to reach 90 operations per hour by extending the sea-facing runway and reconfiguring terminals, with environmental assessments and EU review set to delay much of the work beyond 2031.
• For Barajas, Aena outlines expansions of T4/T4S and a new T123 processor and prepares for future rail and metro links, with no new runways planned as current capacity is deemed sufficient.
• Aena will fund the program from its business and regulated charges, including a 6.5% tariff increase in 2026 to €11.03 per passenger, drawing cautious reactions from airlines as Aena shares fell about 5%.
• Next steps include airline consultation, CNMC analysis and Council of Ministers approval for DORA III within a year, while regions seek additions such as a second runway or rail link for Alicante and clearer timelines for Valencia.