Annual rank55
Italy · Industrials
Toscana Aeroporti
Operates a dual-airport system in which the two airports have distinct traffic characteristics.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Two airports with different jobs in one regional system
Toscana Aeroporti runs Florence Amerigo Vespucci and Pisa Galileo Galilei as a coordinated system rather than two identical airports. Florence is the compact city gateway, oriented toward business, leisure and full-service connections through European hubs. Pisa handles the larger passenger flow, a broad low-cost network and Tuscany's principal air-cargo activity. The group also brings route development, passenger services, airport design and construction into one operating model.
Network and routes
One region, two distinct traffic models
The system reached a record 9.8 million passengers in 2025. Florence connects the regional capital with major European cities and hubs; Pisa combines international low-cost traffic, domestic links and cargo. A published network-development policy shows how the operator evaluates new destinations, frequencies and airline support.
- See the 2025 traffic record Passengers and airport-level performance across the two-airport system
- Explore destinations and cargo The official 2024 release maps passenger flows and Pisa cargo activity
- How new routes are developed Selection principles, incentives and monitoring for network expansion
Passenger experience
Two service charters turn the journey into commitments
The Florence and Pisa charters specify standards for information, security, baggage, accessibility and terminal services. Their passenger portals make the system practical: travellers can check live flights, ground transport, parking and airport facilities before arriving, while each airport retains services shaped around its own terminal and traffic mix.
- Florence service charter Passenger standards, accessibility and airport-service commitments
- Pisa service charter Quality measures and practical services for the larger airport
- Plan a journey through Florence Live flights, transport, parking and terminal information
- Plan a journey through Pisa Live flights, transport, parking and terminal information
Infrastructure delivery
The group designs as well as operates airports
Toscana Aeroporti Engineering supports airport planning and design, while Toscana Aeroporti Costruzioni adds construction capability. That integrated chain is visible in Pisa's passenger-terminal expansion. For Florence, the issuer's November 2025 update records publication of the EIA-SEA decree for the 2025-2035 Master Plan and explains that further authorisation stages still follow.
- Inside Pisa's terminal expansion Capacity, passenger space and the staged development plan
- Track the Florence 2025-2035 programme Published EIA-SEA decree and the remaining authorisation stages
- See the integrated project pipeline 2025 results, investment and the Engineering and Costruzioni roles
- Follow project delivery Half-year reporting on airport works and development milestones
Ground and commercial operations
Behind every flight is a handling, retail and parking business
Running the system means more than runways. Ground handlers check in and board passengers, load baggage, cargo and mail, and assist aircraft on stands. The group's non-aviation model also spans food, retail, advertising, car rental, parking, property, lounges and a cargo agency; one set of public-parking rules covers both Pisa and Florence.
- See what ground handling includes Passenger, baggage, cargo, mail and aircraft assistance
- Map the non-aviation business Retail, food, car rental, parking, property, lounges and cargo agency
- How parking works across both airports One official operating framework for Pisa and Florence
Official profile sources: Toscana Aeroporti: Key Preliminary Consolidated Results as of March 31, 2026 · Service Charter 2026 – Florence Airport Amerigo Vespucci
Current 2026 update
What is changing at Toscana Aeroporti in 2026?
July delivered the busiest month in the Tuscan Airport System's history. The operating question is how Pisa's terminal-delivery milestone and Florence's regulatory runway process keep pace with demand.
The change in one sentence
Traffic is already here; capacity still depends on operating and authorisation milestones.
Pisa crossed 700,000 monthly passengers; the reviewed official archive contains no operating-opening confirmation for its new Arrivals Terminal. Florence cleared environmental review but not final project approval.
Four lenses on 2026
The same four-quadrant format used in the Company profile.
01 · One record, two traffic models
The busiest month yet shows Florence and Pisa doing different jobs
The two-airport system handled more than 1.1 million passengers in July, its best month ever and 4.9% above July 2025. International traffic rose 6.1%, while domestic traffic was almost flat at 0.1%. Florence handled 398,000 passengers; Paris, London, Amsterdam, Barcelona and Frankfurt led its route list. Pisa handled 719,000, its first month above 700,000; London, Tirana, Palermo, Paris and Catania led there. January-July traffic exceeded 5.9 million, up 5.7%, with a record in every month. Distinct demand profiles therefore reach Florence's European-hub gateway and Pisa's larger tourism-led airport through different route mixes.
- Current signalSystem above 1.1m in July · Florence 398,000 · Pisa 719,000 · international traffic +6.1%
- Why it mattersThe record reinforces the logic of running complementary airports rather than treating Florence and Pisa as interchangeable terminals.
- July system and airport traffic Toscana Aeroporti · 5 August 2026
02 · Pisa terminal delivery
Pisa crosses 700,000 while the new Arrivals Terminal remains an unconfirmed operating milestone
Pisa's July record arrived while airport expansion remained a central 2026 task. Q1 reporting said work on the new Arrivals Terminal was advancing and kept its completion among the year's priorities. Preliminary H1 construction-service revenue rose by EUR 7.1 million, or 75.3%, as the wider infrastructure plan accelerated; that accounting signal does not prove this building is complete. The official financial-release archive reviewed through 28 August contains no announcement confirming that the new Arrivals Terminal is operating. That absence is a disclosure boundary, not proof of the physical state of the works.
- Current signalPisa July 719,000 passengers · infrastructure plan accelerated · no operating-opening confirmation in the archive through 28 August
- Why it mattersPassenger growth, physical construction and operational opening are separate milestones; only an operator announcement can close the last boundary.
- July system and airport traffic Toscana Aeroporti · 5 August 2026
- Q1 Pisa works and 2026 priorities Toscana Aeroporti · 14 May 2026
- Preliminary H1 infrastructure acceleration Toscana Aeroporti · 30 July 2026
03 · Florence authorisation
The runway clears an environmental gate, not the final approval process
Italy's environment ministry concluded the integrated VIA-VAS procedure for Florence's Master Plan to 2035 positively on 29 April. Florence's city government said the decision allows the new-runway project to advance to a services conference. That conference remains a further step required for project approval and works. The environmental outcome therefore reduces one source of uncertainty but does not itself authorise construction, set a works start date or make the new runway operational. Toscana Aeroporti remains the airport operator; the environment ministry and the wider public-authorisation process control distinct approval gates.
- Current signalPositive VIA-VAS decision 29 April · services conference still required · no construction approval implied
- Why it mattersFlorence's future capacity depends on converting an environmental decision into the remaining public approvals before physical delivery can begin.
- Florence environmental decision Ministero dell'Ambiente e della Sicurezza Energetica · 29 April 2026
- Services-conference boundary Città di Firenze · 30 April 2026
04 · What to watch
Three questions for the next disclosures
The next disclosures should distinguish realised traffic from an operating opening, and an environmental decision from the remaining authorisation chain.
- Pisa operating milestoneDoes Toscana Aeroporti formally confirm that the new Arrivals Terminal is complete and operating, and what changes first for passengers?
- Florence authorisationDoes the services conference advance the runway project toward final approval without adding new conditions or delays?
- H1 finalisationDoes the scheduled 10 September Half-Year Financial Report confirm the preliminary H1 revenue and construction-service figures without material revision?
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 55 | +77% | +244% | +86% |