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      • En route CZ - Spain Continental
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        • Unit cost
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      • Terminal CZ
        • Unit cost
        • AUCU
        • Regulatory Result

    Cost-efficiency - Spain

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    Terminal charging zone

    Unit cost

    Actual and determined data
    Total costs - nominal (M€) 2025 2026 2027 2028 2029
    Determined costs 131.2 133.8 137.7 140.6 142.2
    Actual costs 115.8 NA NA NA NA
    Difference costs -15.4 NA NA NA NA
    Inflation assumptions 2025 2026 2027 2028 2029
    Determined inflation rate 2.4% 1.9% 1.8% 1.8% 1.8%
    Determined inflation index* 108.7 110.7 112.7 114.7 116.8
    Actual inflation rate 2.7% NA NA NA NA
    Actual inflation index* 109.3 NA NA NA NA
    Difference inflation index (p.p.) +0.6 NA NA NA NA
    *100 = 2022
    NoteFocus on unit cost

    AUC vs. DUC

    In 2025, the terminal AUC was -15.1% (or -17.89 €2022) lower than the planned DUC. This results from the combination of significantly lower than planned terminal costs in real terms (-12.1%, or -14.7 M€2022) and higher than planned TNSUs (+3.6%).

    Terminal service units

    The difference between actual and planned TNSUs (+3.6%) falls outside the ±2% dead-band but does not exceed the ±10% threshold foreseen in the traffic risk sharing mechanism. The resulting gain of additional terminal revenues is therefore shared between the ANSP and the airspace users (see the main ANSP regulatory result).

    Terminal costs by entity

    Actual real terminal costs are -12.1% (-14.7 M€2022) lower than planned. This is the result of lower costs for the main ANSP, ENAIRE (-12.5%, or -14.5 M€2022), the NSA (-6.3%, or -0.1 M€2022) and the MET service provider (-0.9%, or -0.03 M€2022).

    Terminal costs for the main ANSP (ENAIRE) at charging zone level

    Based on the additional information to the terminal reporting tables, the significantly lower than planned terminal costs in real terms for ENAIRE in 2025 (-12.5%, or -14.5 M€2022) result from:

    • Significantly lower than planned staff costs (-13.7%), driven by “significant decrease in ”Other Staff Related Benefits”, due to lower-than-expected allocations to provisions related to the Special Active Reserve (RAE, see below for details) and, to a lesser extent, the Active Reserve (RA)” (as of RP4 these provisions are treated as pension costs).

    • Significantly lower than planned other operating costs (-11.1%), in particular for professional services, communications, insurance and energy-related items.

    • Lower than planned depreciation (-3.5%), explained by the timing of investments entering into service and the resulting evolution of the depreciable asset base.

    • Higher than planned cost of capital (+4.8%), mainly driven by higher average interest on debt while the total asset base remained slightly below the determined level.

    *According to ENAIRE, the reduction in staff costs associated with the RAE should not be interpreted as an efficiency gain, a cost-saving measure, or a positive deviation from ENAIRE’s 2025 planning. It results from the annual actuarial valuation of a long-term employment obligation, performed by an independent external actuarial firm, which led to a reduction in the estimated liability and, consequently, to a reversal of provisions recognised in previous years. Therefore, this decrease does not reflect any operational improvement, management decision, productivity gain, or cost-efficiency measure implemented by ENAIRE during 2025. It is a non-operational accounting adjustment arising from the reassessment of obligations generated in prior years and outside the scope of ENAIRE’s annual planning and performance.

    Assessment of the actual performance in the charging zone reported by the NSA

    The NSA of Spain provides the following overall assessment of the actual performance in 2025 at charging zone level:

    “The reduction in costs is mainly due to widespread savings across the majority of the entities. In general, there have been decreases across all actual cost categories compared to the determined costs for the year 2025. For further details, please refer to the Additional Information file.

    The aforementioned savings result in a lower actual unit cost compared to the determined unit cost (DUC) for the year 2025.”

    Explanation of the differences between actual and determined costs at charging zone level reported by the NSA

    The NSA provides the following explanation for the differences between actual and determined costs in the charging zone:

    “A broad-based cost reduction is observed across all categories, including staff costs. This occurs even though the RP4 National Performance Plan assumed a 2.0% salary increase, and the most recent salary increase approved by the Government amounts to a 2.5% rise for public employees in 2025.

    However, the overall outcome shows a reduction driven by a significant decrease in other staff-related benefits at the ANSP ENAIRE. This is mainly due to lower-than-planned allocations to provisions related to the Special Active Reserve (RAE), introduced by National Law 26/2022 of 19 December.”

    Recommendations formulated by the NSA to the ANSP (ENAIRE) to rectify the situation and actions taken by the ANSP

    No information was provided in the NSA 2025 Monitoring Report.

    Actual unit cost incurred by the users (AUCU) (PI#1)

    AUCU components (€/SU) – 2025
    €/SU
    DUC 127.83
    Inflation adjustment 0.61
    Cost exempt from cost sharing -1.17
    Traffic risk sharing adjustment -1.29
    Traffic adjustment (costs not TRS) -0.20
    Financial incentives 0.00
    Modulation of charges 0.00
    Cross-financing 0.00
    Other revenues -76.68
    Application of lower unit rate -33.34
    Total adjustments -112.06
    AUCU 15.77
    AUCU vs. DUC -87.7%
    Cost exempt from cost sharing by item - 2025 €'000 €/SU
    New and existing investments -302.5 -0.28
    Competent authorities and qualified entities costs -148.7 -0.14
    Eurocontrol costs 0.0 0.00
    Pension costs -790.9 -0.74
    Interest on loans 0.0 0.00
    Changes in law 0.0 0.00
    Total cost exempt from cost risk sharing -1,242.1 -1.17
    NoteFocus on AUCU

    Terminal AUCU monitoring at charging zone level

    The actual terminal unit cost incurred by airspace users (AUCU) in respect of activities performed in 2025 (15.77 €) is -87.7% lower than the nominal DUC (127.83 €) (see Note 1 below regarding the calculation of AUCU for Spain TCZ). The difference between these two figures (-112.06 €/SU) is due to:

    • the deduction of other revenues (-76.68 €/SU) corresponding to the amount received by ENAIRE through the contract with the airport operator (Aena) for aerodrome services;

    • the positive inflation adjustment resulting from higher than planned inflation (+0.61 €/SU);

    • the impact of adjustments resulting from the costs exempted from cost sharing mechanism (-1.17 €/SU);

    • the deduction of the traffic risk sharing adjustments (-1.29 €/SU);

    • the deduction of the traffic adjustment (-0.20 €/SU) for the costs not subject to traffic risk sharing; and,

    • the application of a lower unit rate as foreseen in Art. 29(6) in year 2025 (-33.34 €/SU).

    The share of the regulatory result (see next sub-section) in the AUCU (before the deduction of other revenues) is 20.6% (see Note 2 below).

    Initiatives implemented or planned that will improve this PI reported by the NSA

    The NSA of Spain provides the following information regarding the initiatives:

    “An annual cost verification is carried out.”

    Note 1

    Spain (specifically ENAIRE) only charges a portion of terminal determined costs (approximately 20%) to the airspace users through terminal navigation charges, while the rest is financed through the income relating to contractual arrangement between ENAIRE and the airport operator Aena (disclosed under Other revenues). This should be considered when interpreting the analysis above.

    Furthermore, as is the case for all charging zones, the AUCU and, in particular, its components (adjustments related to 2025 activity) disclosed for the Spanish terminal charging zone here are derived using the data reported in Table T2A. However, Spain (specifically ENAIRE) only carries forward a portion of calculated adjustments into the terminal unit rate (approximately 20%, which are attributable to the "final approach determined costs"). Due to this specificity, the components of AUCU presented here do not represent the adjustments actually carried forward into future unit rates.

    Regulatory result (RR)

    NoteFocus on regulatory result

    ENAIRE net gain/loss on activity in the Spain terminal charging zone in 2025

    ENAIRE reported a net gain of +17.9 M€, as a combination of a gain of +14.8 M€ arising from the cost sharing mechanism, with a gain of +3.1 M€ arising from the traffic risk sharing mechanism. See also Note 1 below.

    ENAIRE overall regulatory result (RR) for the terminal activity

    Ex-post, the overall RR, taking into account the net gain from the terminal activity mentioned above (+17.9 M€) and the actual RoE (+2.1 M€), amounts to +20.1 M€ (15.7% of the terminal revenues). The resulting ex-post rate of return on equity is 76.6%, which is much higher than the 8.2% planned in the PP. See also Notes 1 and 2 below.

    Note 1

    ENAIRE only charges a portion of terminal determined costs (approximately 20%) to the airspace users through terminal navigation charges, while the rest is financed through the income relating to contractual arrangement between ENAIRE and the airport operator Aena.

    Furthermore, as is the case for all charging zones, the gain/loss in respect to ENAIRE activity in the Spanish terminal charging zone in 2025 is derived using the data reported in Table T2A. However, ENAIRE only retains a portion of this calculated result (approximately 20%, which is attributable to the "final approach determined costs").

    For these reasons, the gain/loss on activity in 2025 as well as RR presented here for ENAIRE should be interpreted with caution.

    Note 2

    The ex-post RR does not take into account the application of a lower unit rate in 2025 as per Art. 29.6 (the loss in revenues corresponds to -35.4 M€ for 2025).

     
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