- The Spanish government approved Aena’s DORA III in September 2026
- The plan authorised nearly €13bn of investment from 2027 to 2031
- Annual tariff rises for airlines were capped at 0.33pc per year
- Madrid-Barajas received approximately €4.48bn for terminal expansion
- Barcelona-El Prat was allocated between €1.76bn and €3.2bn for facility enhancements
The Spanish government has approved Aena’s third Airport Regulation Document, known as DORA III. It authorises nearly €13,000m of investment across the airport network until 2031. Annual tariff rises for airlines have been capped at 0.33pc, or about three cents per passenger, far below the increase Aena had sought.
The Spanish Government approved Aena’s third Airport Regulation Document (DORA III) in September 2026, greenlighting a nearly €13bn investment plan for 2027 through 2031. The total investment included €9.99bn in regulated aeronautical investments, with the remainder dedicated to commercial spaces, cybersecurity, and sustainability. The plan set an average annual airport fee increase of 0.33pc per year. Financing was entirely self-financed through Aena’s own operations.
Madrid-Barajas received the highest backing at approximately €4.48bn to expand terminals T4/T4S and renovate T1, T2, and T3. Barcelona-El Prat was allocated roughly €1.76bn to €3.2bn (depending on broader project scopes) for facility enhancements, though major runway extensions were pushed past 2031. Málaga-Costa del Sol received around €1.5bn for terminal reconfiguration and expansion. Alicante-Elche Miguel Hernández received over €1bn for terminal expansion and a new taxiway.
