AENA’s stop-start partial privatisation is ready to start again. Can it succeed this time around?
If all goes to plan (and that is a very big if) Spain's state airport operator AENA's part privatisation is supposed to swing back into action in Feb-2014, having been suspended late in 2011 following a General Election and the rise to power of the People's Party (PP), led by Mariano Rajoy.
It would be first privatisation in Spain since the start of the economic crisis - as well as being that of the busiest airport operator in the world.
Prior to the election, the People's Party had been unequivocal about both the format of the privatisation and the valuation placed on the airports. But since then, the government has had to handle a sovereign debt crisis with attendant public deficit, an economy in freefall and raging unemployment, particularly amongst young people, for whom it has reached 50% of the workforce.
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