Sanchez announces €2.4 Billion airport expansion

Spanish Prime Minister Pedro Sanchez has announced a huge investment that will improve Spain’s connectivity and will turn Madrid into Europe’s fastest-growing airport.

Revealed at the FITUR tourism fair, the 2.4 billion euro investment aims to boost the airport’s capacity dramatically.

The announcement, made at FITUR 2024, on Friday, January 26, positions Madrid Barajas to accommodate a staggering 90 million passengers by 2031.

Located in Spain’s bustling capital, Madrid Barajas outpaced its national counterparts last year, with over 20 million travellers, surpassing Barcelona’s El Prat and Palma de Mallorca airports.

A boost economy and connectivity

Sanchez underscored the project’s impact during his visit to Fitur 2024. He emphasised that this expansion transcends national boundaries and is set to catalyse significant growth in airport capacity and routes.

‘It will allow for strong growth in capacity and routes at this airport, as well as the creation of thousands of direct and indirect jobs,’ Sanchez stated, highlighting the project’s potential for wealth generation.

Currently, Barajas contributes almost 10 per cent of the Community of Madrid’s GDP, a figure expected to surge post-expansion.

The Prime Minister also spotlighted the airport’s evolving role as a pivotal hub for Latin America and its growing ambitions to enhance connections with Asia. ‘The leadership of this hub with Latin America will be strengthened,’ he said, foreseeing new routes and airlines linking Europe with Asia.

Speaking of the investment Sanchez added on Twitter/X that is was, ‘an ambition that reflects what we already are: a global tourism power.’

Vision for the future

In his address, Sanchez painted a vivid picture of Madrid Barajas’ future. With the anticipated influx of passengers, a 28 per cent increase is forecasted, signalling a new era for the airport. ‘I think it is an airport that is going to be a hallmark of Spain in the coming years,’ he remarked, envisioning Madrid Barajas as Europe’s fastest-growing airport.

His vision extends beyond mere numbers, foreseeing a transformative effect on Spain’s international standing and economic landscape.