August 4, 2008
Spain’s Airport Authority to Be Partially Privatized
Spain's airport authority to be partially privatized
MADRID, Aug. 1 (Xinhua) -- The Spanish government has authorized 30-percent privatization of the national airport authority.Spain's Cabinet Council on Friday approved the reorganization plan for Airports and Aerial Navigations (AENA), presented by Public Works Minister Magdalena Alvarez.
The measure will see the separation of aerial navigation and airport management in the country. A new company will be set up to manage the airports, allowing private capital to participate up to a limit of 30 percent.
Spain's deputy prime minister, Maria Teresa Fernandez de la Vega, said the governments of Madrid and Barcelona will each have a share of 19 percent in the management of their two airports at Barajas and El Prat, which handle over 30 million passengers annually.
The total value of the AENA management is some 30 billion euros (46.8 billion U.S. dollars).
A schedule has not yet been set for the partial privatization, which is expected to take effect gradually.
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