Core Insights - VINCI Airports experienced a strong traffic growth of 4.2% in Q3 2025, welcoming 94 million passengers compared to the same period in 2024, with an increase of 3.8 million travelers [2][7][17] - The summer of 2025 saw high load factors and an increase in airline seat supply, particularly benefiting Mediterranean resort destinations and routes between China and Japan [2][5] - Traffic growth was notable in various regions, including Portugal, France, Japan, Mexico, Brazil, and Cabo Verde, with specific airports showing remarkable performance [3][6][9][12][13] Traffic Performance - VINCI Airports recorded a year-to-date (YTD) traffic increase of 5.6% as of September 30, 2025, compared to the same period in 2024 [7][9] - Portugal's airports saw an average growth of 4.6%, with Lisbon, Porto, Faro, and Funchal leading the way [3][9] - In Japan, traffic increased by 10% in Q3 2025, driven by high demand during the Universal Exhibition in Osaka and busy connections with China [5][9] Regional Highlights - In Mexico, Monterrey airport experienced a spectacular growth of 15%, attributed to Volaris doubling its capacity [6][12] - Brazilian airports, particularly Salvador de Bahia, benefited from strong domestic and long-haul traffic, with an overall growth of 10% [6][12] - Cabo Verde's airports continued to grow robustly, with a 7.6% increase in traffic, supported by enhanced services from various airlines [6][12] Challenges - Belfast International and London Gatwick airports faced a decline in the number of seats available due to flight reorganization by low-cost airlines, impacting domestic flights within the UK [4][9] - The Dominican Republic's Santo Domingo airport experienced a traffic decline of 9.4%, primarily due to the repositioning of Arajet aircraft [6][12] Commercial Movements - VINCI Airports reported a 4.1% increase in commercial movements in Q3 2025 compared to Q3 2024, with a YTD increase of 5.7% [10][17] - Notable growth in commercial flights was observed in Mexico, with Monterrey airport seeing a 19% increase in Q3 2025 [10][17] - Japan's Kansai Airports recorded a 6.8% increase in commercial movements, reflecting strong demand [10][17]

Core Insights - VINCI Airports experienced a dynamic second quarter in 2025, welcoming over 86 million passengers, marking a 6.7% increase in traffic compared to the same period in 2024, equivalent to 5 million additional passengers [3][8] - The growth was primarily driven by increased airline capacity, particularly from low-cost carriers, and high load factors indicating strong demand [3][8] - Long-haul routes saw the most significant growth at 11%, with notable performance in Japan and the diversification of European hub networks [3][8] Traffic Trends - Japan's international traffic surged, particularly with China, which saw a 66% increase compared to 2024 and a 20% increase compared to pre-COVID levels [4] - Monterrey Airport in Mexico recorded a 25% growth, attributed to the recovery of Volaris [4] - Strong traffic dynamics were also observed in Budapest, Cabo Verde, and Cambodia, with Cabo Verde experiencing a 26% increase in traffic [4][5] Regional Performance - Portugal recorded a 6.6% increase in traffic, with long-haul routes to Brazil and the United States growing by 12% and 9% respectively [5][10] - Edinburgh's long-haul traffic grew by 30%, driven by connections with North America [5] - The United States saw a slowdown in air traffic, negatively impacting regions dependent on leisure and visiting friends and relatives (VFR) traffic, particularly in Costa Rica and the Dominican Republic [6] Passenger Traffic Data - VINCI Airports reported a year-to-date (YTD) traffic increase of 5.1% as of June 2025, with notable growth in several regions including Japan (+12%), Cambodia (+11%), and Cabo Verde (+26%) [10] - The overall traffic for VINCI Airports in Q2 2025 was 86.4 million passengers, reflecting a 6.7% increase compared to Q2 2024 [16][20] Commercial Movements - VINCI Airports recorded a 6.5% increase in commercial movements in Q2 2025 compared to the previous year [11][12] - Notable increases in commercial flights were seen in Mexico, with Monterrey Airport showing a 25% growth [18] - The Dominican Republic faced a decline in commercial movements, with a 14% drop in traffic [18]