Aena has won the concession to operate Rio de Janeiro’s Galeão airport after a competitive public auction, strengthening its position as Brazil’s largest private airport operator. The Spanish group secured the licence with a bid of 2.9 billion reais (about €483 million), more than three times the minimum price set by the government, and will take control of the airport until May 2039.
The deal, which is expected to close in the second half of 2026 subject to regulatory approvals, gives Aena ownership of 100% of the concessionaire company. The operator beat rivals including Zurich Airport and Singapore’s Changi Airports group after a prolonged bidding process held at the São Paulo Stock Exchange.
The auction saw intense competition, with Zurich repeatedly increasing its offers by marginal amounts during eight rounds of bidding. In the end, Aena’s final bid exceeded the minimum required value of 932 million reais (about $177.6 million) by 210.9%, underscoring the strategic importance of the Rio airport.
Galeão is the third busiest airport in Brazil, handling 17.8 million passengers in 2025, including 5.7 million international travellers. It is also the country’s second main international gateway after São Paulo Guarulhos and handled nearly 68,000 tonnes of cargo during the year.
The Rio airport has seen strong growth in recent years, driven by record numbers of foreign visitors to Brazil. Passenger traffic has nearly tripled over the past three years, and the airport has capacity to handle up to 30 million passengers annually without requiring additional capital investment under the new contract.
Aena’s latest win expands its presence in Brazil to 18 airports, including Congonhas in São Paulo, the country’s second busiest airport. Across its Brazilian network, the company now manages more than 62 million passengers.
“We are very proud. We now manage 62 million passengers in Brazil and hope to remain in the country for many years,” said Emilio Rotondo, CEO of Aena Internacional.
The new concession replaces the current operator, a consortium led by Changi Airports and Brazil’s Vinci Compass, which had held a 51% stake in Galeão since 2013. The latest agreement grants Aena full control after the state-owned Infraero agreed to relinquish its 49% stake.
Under the new contract, Aena will pay the government 20% of the airport’s net revenue rather than a fixed annual fee. The agreement also removes the requirement to build a third runway, a condition that had been a key concern for the previous operator.
Aena entered the Brazilian market in 2020 and has since expanded rapidly through multiple concession wins, building a network that includes airports in the northeast and key regional hubs. The company’s network model, which combines major international gateways with regional airports, is designed to create operational efficiencies and synergies across its portfolio.
“As with all the operations Aena undertakes, this strictly meets the fundamental principle of generating value for its public and private shareholders,” said Maurici Lucena, Chairman and CEO of Aena. “Aena Brazil is also a clear example of the capacity to produce synergies that generate value because, with Galeão, there will be 18 Aena airports operating successfully as a network in Brazil, contributing to the development of the country’s air transport.”
Aena, the world’s largest airport operator by passenger numbers, manages 46 airports and two heliports in Spain and holds stakes in airports in the United Kingdom, Mexico and Jamaica. The addition of Galeão further strengthens its global footprint and reinforces Brazil’s role as a key strategic market for the group.
