Spanish Government has initiated the process of privatisation of 49% of the state-owned Airport Management Authority AENA (Aeropuertos Espanoles) in a bid to cut its huge financial losses, according to an announcement after yesterday's Cabinet meeting in Madrid. The measures include the privatization of the Madrid-Barajas and Barcelona airports.

A Spanish government spokesman said: "The Government has approved the tender process for the El Prat airport in Barcelona and Barajas in Madrid together with the partial privatization of AENA."

 

The 20 year contract for just over 90% of the assets of each airport, is expected to raise E3,700m in the case of Barajas and E1,600m for the Barcelona airport

The period for the submission of tenders by interested parties will be between July 30th and November 2011.

The successful airport operators will be expected to take over by the Spring of 2012.

AENA is currently in discussion with the new La Linea Mayor Gemma Araujo (PSOE) to unblock the sale of the plot of land by the frontier on which the Spanish section of the new Gibraltar airport terminal will be built.