www.aena.es

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Aena Internacional has continued to increase its presence at airports through its involvement, under different schemes, in 27 airports in Latin America (Mexico, Colombia, Cuba, Bolivia and Costa Rica), the European Union (United Kingdom and Sweden) and the United States. Over 52.5 million passengers were served at these airports: 8% more than the previous year.

Mexico

Aena International has been present in 12 Mexican airports (Aguascalientes, Bajío, Guadalajara, Hermosillo, Los Mochis, La Paz, Manzanillo, Mexicali, Morelia, Puerto Vallarta, San José del Cabo, Tijuana) since 1999, when the Mexican Government awarded the Grupo Aeroportuario del Pacífico contract. Aena International owns 33.33% of the share capital in Aeropuertos Mexicanos del Pacífico, which is, in turn, the strategic partner of Grupo Aeroportuario del Pacífico, through 17.3% of the share capital and the management contract that regulates the participation.

The total number of passengers who passed through these airports during 2007 was 23.6 million: 14.9 percent more than the previous year, highlighting the low-cost airline business and positive performance of international traffic.

Grupo Aeroportuario del Pacífico owns a very diversified airport portfolio: metropolitan, tourist and regional, making it possible, due to its size, to function as a network. It is the leader in Latin America as a private operator in its ratios for services, costs and income and profitability.

As operating partner, Aena has participated decisively in the drafting and implementation of the Business Plan, Master Plans (2000-2004 and 2005-2014) with investments nearing US $400 million, Airport Commercial and Marketing Plan, Pricing Plan, and in the ISO-9000 certification process in all of its airports and Corporate Services.

The main actions in 2006 carried out on airfields (runway refurbishment, construction of taxiways and fast exits and aprons expansions) and terminals (expansions in Guadalajara and Puerto Vallarta) in a continuing effort to adapt and improve the facilities and infrastructure.

Colombia

In Colombia, Aena Internacional holds 40% of the shares of the company that manages Barranquilla airport - Aeropuertos del Caribe, S.A. (ACSA), and 38% of the company that manages the airport at Cartagena de Indias - Sociedad Aeroportuaria de la Costa, S.A. (SACSA). In both cases, it is also the operating partner. Likewise, Aena International, with 33.34% ownership in Aerocali, S.A., is the operating partner at the Cali Airport. In 2006, these three Colombian airports handled over 4.7 million passengers: 8.8% more than the previous year.

In 2006, the heavy growth in traffic at Cartagena Airport and Aena's drafting of the Master Plan for the Cali and Cartagena airports as a framework for future development, were particularly noteworthy.

Cuba

Aena Internacional continues to execute the management contract for Jardines del Rey International Airport in Cayo Coco, in joint management with ECASA, the Cuban airport and air navigation company, participating in the different committees and on the Boards of Directors. This airport served 391,187 passengers in 2006.

Likewise, at ECASA's request, operating, technical, commercial and management advice has been given to ECASA central services, as well as to José Martí International Airport in Havana.

ACDL - TBI

In 2004, Aena International entered into an agreement with Abertis, S.A. to acquire the British airport operator TBI. On 4 January 2005, ACDL, the company in which Abertis holds a 90% shareholding and Aena International holds 10%, took control of 100% of TBI's share capital.

Abertis, a global infrastructures operator, is the leader in Spain in sectors such as motorways, car parks and telecommunications infrastructures, with a strong international presence.

The acquisition of TBI is an operation of extreme importance for Aena. Through this move the company has expanded in its international dimension, accessing new markets and consolidating itself as a global operating company with a notable increase in its airport operations outside of Spain. Thanks to this operation, Aena will be present in more stable markets and in OECD countries. Furthermore, not only has it gained an important position in the London area, which has the highest level of airport traffic in the world with over 100 million passengers annually, it has also become the leader in new trends in the air transport market, as TBI is the world's largest private operator of airports for low-cost airlines.

Thus, TBI's greatest asset is Luton Airport, one of the largest in the city of London and the main base of operations for the low-cost airline Easy Jet, one of the largest in Europe in this market segment, which holds the greatest expectations for growth.

The TBI Group

TBI is a British group mainly dedicated to airport operations and, especially, regional airport management. It currently has eight airports as concessions or in ownership (London Luton, Belfast International and Cardiff International, in the United Kingdom; Stockholm Skavsta, in Sweden; Orlando Sanford, in the USA.; and La Paz, Cochabamba and Santa Cruz, in Bolivia) and three with different operation and management contracts (Atlanta, Georgia, and Burbank, California, in the USA; and San José in Costa Rica).

In 2007 the total number of passengers handled by the eight airports that it holds under a system of concession or ownership, came to 23.6 million, which represented an 3.4 percent increase on the figure for the previous year. During 2006, major investments were made in the group's main airports (Luton, Belfast and Cardiff) and a significant increase in revenue was achieved as a result of the actions implemented.