**Aena, the world's largest airport operator by passenger numbers, has reported a historic first-half 2026 net profit of €1.002 billion, up 12.1% from €893.8 million a year earlier.** This marks the first time the Spanish semi-public group has surpassed the symbolic billion-euro threshold in a six-month period. Consolidated revenue reached approximately €3.3 billion, a year-on-year increase of just over 10%, while EBITDA stood at €1.7989 billion, up 6.3%, with a margin of 54.5%. **The strong performance is attributed to a temporary shift in tourist traffic toward Spain, perceived as a safe destination amid ongoing tensions in the Middle East.** The Gulf conflicts disrupted commercial flights for several weeks, prompting many travelers to choose the Iberian Peninsula instead. Aena notes that this additional flow supported passenger growth beyond its initial forecasts for the year. **In the first half of 2026, Aena's network—comprising 46 airports and 2 heliports in Spain, 17 airports in Brazil, and UK platforms including London Luton, Leeds Bradford, and Newcastle—welcomed 190 million passengers, a 3.9% increase year-on-year.** Spanish airports alone saw traffic rise 3.7% to 156.2 million passengers. In 2025, the entire network handled nearly 385 million passengers, with 321.6 million in Spain, consolidating the country's position as a top global tourist destination, just behind France. **Revenue from aeronautical charges and commercial activities (shops, restaurants, duty-free, parking) benefited directly from the higher passenger flows.** In Q1 2026, total revenue had already increased 11.6% to €1.4799 billion, and this momentum continued into Q2, bringing the half-year total close to €3.3 billion. **Aena, 51% state-owned, plans to invest nearly €13 billion between 2027 and 2031 to expand and modernize its airports, including major hubs like Madrid-Barajas and Barcelona-El Prat.** The group also continues its international expansion, having signed a contract worth over €300 million at the end of 2025 to acquire stakes in Leeds Bradford and Newcastle airports. However, Aena remains cautious about geopolitical risks, particularly in the Middle East, which could lead to rapid traffic adjustments if further disruptions occur.