By Majorca Daily Bulletin reporter

Copyright majorcadailybulletin

Spanish airport operator Aena said today it plans to invest 12.88 billion euros ($15.24 billion) in upgrading its terminals during the 2027-2031 period. “Madrid and Barcelona airports are close to capacity and need a new wave of investment,” Chief Executive Maurici Lucena said in a speech on Thursday. “They are very full,” he added.

Aena, the world’s largest airport operator in terms of passengers, has budgeted a 3.54 billion euro investment in the previous 4-year period.

The airport operator expects the current volume of passengers to keep rising in the coming years, as its main airports in Spain are set to become major hubs for intercontinental connections.

Madrid and Barcelona airports are close to capacity and need a new wave of investment,” Chief Executive Maurici Lucena said in a speech.

Spain, the second most visited country in the world after France, has seen international arrivals climb 5.9% to 75.4 million in the first eight months of this year.

Lucena added that the coming years would pose both technical and business challenges for Aena, as the company will undertake multiple simultaneous projects across Spanish airports while ensuring uninterrupted operations.