Should Spain privatise its smaller airports first?

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The change of government in Spain in Nov-2011 suspended the concession procedure for Madrid and Barcelona airports, the first stage in a procedure that would also have partly privatised AENA itself as well as offering concessions on smaller airports. Already some of the interested parties have stepped back, including Fraport, owing to the "difficult" market conditions that the newly-installed People's Party (PP) had also recognised. With the new government due to resume its deliberations on where the concession procedure goes next, should it not now consider privatising one or more of Spain's smaller airports first, to give some confidence to the market?

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