The Council of Ministers has rubber stamped the sale of 49% of AENA, the operator of Spanish airports.
AENA owns 46 airports and a couple of heliports, and is losing so much cash the beancounters can’t count it.
28% of the company will be floated on the stock market, and the rest sold off to technical partners and long term investors.
The government had wanted to sell off 60% but has finally decided to keep 51% of the company. After all, it can quietly sell off the rest in the future.
Given the amount that AENA is losing, it seems fairly obvious that hefty cost cutting at the company – including, I assume, the closure of some airports – is to be expected next year. Probably after the elections.
10 of AENA’s public airports served fewer than 1,000 passengers in May 2013…