Business | Aviation

Spain to sell stake in airport operator

The state-funded AENA, which operates 47 airports in Spain and 26 abroad, has built up debts of 14 billion euros

  • AFP
  • Published: 13:46 January 1, 2013
  • Gulf News

Madrid: Spain’s debt-struck government says it plans to sell off a stake in airport operator AENA to private investors in 2013.

Prime Minister Mariano Rajoy’s government scrapped the previous Socialist government’s plans to privatise the Madrid-Barajas and Barcelona-El Prat airports when it took power a year ago.

But it is still seeking new ways to raise finances and slash the public deficit.

“Our idea is that in the next financial year private enterprise will be able to enter to form part of the capital of AENA,” Development Minister Ana Pastor said in an interview with conservative daily El Mundo published on Monday.

The state-funded AENA, which operates 47 airports in Spain and 26 abroad, has built up debts of 14 billion euros (Dh68.8 billion).

In October, it announced voluntary redundancies affecting up to 1,600 of its 15,000 employees.

The Spanish government believes it would be “unacceptable” to grant a concession for the Madrid and Barcelona airports while holding on to such a debt, Pastor said.

Spain, which lived through a construction boom that collapsed in 2008, has 49 commercial airports for international flights, the most of any country in Europe. Some of them host only a handful of flights a day, and some such as Badajoz in the west or Huesca in the north handle no commercial flights at all.

Pastor said her ministry would devote 10 billion euros to investments in 2013 out of a total budget of 18.4 billion euros.

Gulf News
Quick Access

  1. Markets

  2. Economy

  3. Property

  4. Aviation

Business Top Stories

  1. Abe announces subsidies for hydrogen fuel car

  2. Emirates NBD’s net profit up 30% to Dh2.35b

  3. A new GM recall covers 800,000 more cars

  4. Gold below $1,300 for first time in a week

  5. Market dynamics and the business of misery