European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank86

Austria · Industrials

Flughafen Wien

Airport group operating Vienna and Malta airports, with an equity interest in Košice Airport.

+63%revenue growth
FY2022–FY2025
+72%net-income growth
FY2022–FY2025
+86%stock return
FY2022–FY2025
−6%2026 stock return
current context only

Company profile

Operate the hub, monetise the site and choose where to add capacity

Flughafen Wien AG is the listed parent and general operator of Vienna Airport; it operates the airport platform, not airline services. The group combines airport infrastructure, handling and security with retail and property. Vienna handled 32.6 million passengers in 2025; the wider network handled 43.4 million including fully consolidated Malta and equity-accounted Košice. The cards distinguish direct operations from subsidiaries, joint ventures, airlines, maintenance providers, public bodies, tenants and contractors.

Group perimeter

See why 48.44% is consolidated while 66% is not

Control does not follow headline stake alone. At 2025 year-end, FWAG's effective 48.44% interest in Malta International Airport was fully consolidated, while its indirect 66% interest in Košice was jointly controlled and equity-accounted. Vienna Airport FBO handles general and business aviation at Vienna; its wholly owned subsidiary Flugplatz Vöslau BetriebsGmbH operates Bad Vöslau. At parent level, Airports Group Europe held 44.3%, Vienna and Lower Austria 20% each, the employee foundation 10% and free float 5.7%.

Turnaround and cargo

Turn an aircraft, balance its load and protect a cold chain

Vienna Airport Handling Services is an FWAG division covering passenger handling, load control, ramp work, de-icing, cleaning, baggage and cargo. The service directory identifies FWAG's own equipment and personnel for ramp and traffic handling. The cargo complex connects apron, motorway, road-feeder and bonded-warehouse facilities; its 1,650-square-metre Pharma Handling Center has 15–25°C and 2–8°C zones. Centralized Load Control provides weight-and-balance planning to airline and ground-handler partners across selected fleets or stations. Maintenance and security providers retain separate roles.

Retail and property

Make the runway feed a business district

Retail & Properties generated EUR 215 million in 2025 from shops, hospitality, lounges, parking, advertising and leased office or cargo space. AirportCity hosts more than 250 companies alongside offices, hotels, events and coworking. Office Park 4 NEXT will add 17,000 square metres in 2028. A 6,000-square-metre supply hub will consolidate deliveries to more than 100 terminal outlets; Vienna Airport Logistics GmbH, a joint venture with Bradford Airport Logistics, will operate it. The VIENNA Lounge and Conference & Innovation Center show passenger and business uses of the property platform.

Capacity and technology

Add terminal capacity without building a third runway

The EUR 420 million Terminal 3 Southern Expansion is due in the second quarter of 2027: 70,000 square metres, 18 bus gates, a central checkpoint, 6,000 square metres of lounges and 10,000 square metres of retail and food space. In July 2026, 35 CT scanners entered service across existing terminals. FWAG ended the third-runway project in November 2025, saying two runways plus terminal growth could serve up to 52 million passengers. Ten solar systems at Vienna and one at Bad Vöslau generated 42.5 million kWh in 2025, covering roughly half of FWAG's total electricity requirements; over 99% of reported emissions were indirect value-chain emissions.

Current 2026 update

What has changed in 2026?

June 2026 · 14 July 2026

June 2026latest official update
4company-specific highlights
−6%2026 stock return · context only

Group passengers

Flughafen Wien Group passenger traffic increased 0.2% to 4,039,311 in June.

June 2026 · 4,039,311 passengers · +0.2%

Vienna Airport passengers

Vienna Airport passenger traffic declined 5.9% to 2,832,434 in June.

June 2026 · 2,832,434 passengers · -5.9%

H1 Group passengers

Passenger traffic across the Flughafen Wien Group increased 1.9% to 19,975,392 in H1.

H1 2026 · 19,975,392 passengers · +1.9%

H1 Vienna passengers

Vienna Airport passenger traffic declined 3.2% to 14,267,744 in H1.

H1 2026 · 14,267,744 passengers · -3.2%

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202586+63%+72%+86%