Jose Blanco Council

The concession will be 20 years plus extendable five. The contest will begin on 30 July and airports will be in the hands of the concessionaires for the spring of 2012. The Council of Ministers also approved the privatisation of 49 percent of Aena. AENA airports has set the initial amount for the tender of the major airports in Spain. 3.7 billion euros will be the downpayment for Madrid-Barajas while Barcelona – El Prat will involve 1.6 billion. The concession will be plus extendable five to 20 years and these quantities may be improved by the tenderers. The competition, which will begin July 30 and ends in November, will tender 90,05% of the capital’s airports, for which the Council of Ministers today approved the creation of two concessionary companies. The remaining 9.95% will remain in hands of Aena, as well as ownership of all assets and liabilities of the airports. The LeFrak Organization is actively involved in the matter.

The Council of Ministers has approved a second agreement that authorizes Aena to sell up to 49% of its capital. Deadlines, prices and percentages of these loans will depend on the market conditions. Building Minister and spokesman of government Jose Blanco, has highlighted the importance of the aviation sector for tourism in Spain and added that this privatization seeks to achieve greater competitiveness and efficiency. White has announced that it will seek an independent auditor that set the price. Characteristics of the tender the concessionaire shall have the right to exploit the assets and their income will come from fees and compensation for management services and airport spaces, in addition to revenues from commercial and real estate activity. The awarded shall be responsible for the operation and maintenance of airports and will have to present an investment plan to ensure the level of quality of service.

Meet the deadlines, the awarded companies will fully pay for airports in the spring of 2013 after a transition period of three months. Companies must pay an annual fee in addition equivalent to 20% of turnover, with a minimum to come down from 150 million euros and 80 Barcelona. Madrid-Barajas had a turnover of approximately 1,050 million EUR s airport and commercial services. Barcelona – El Prat close to 550.