Thursday, December 2, 2010

Economic Hitmen Strike Again: Spain Planning to Privatize Airports

Santiago Perez
Dow Jones Newswires

MADRID -(Dow Jones)- The Spanish government plans to privatize the country's top two airports, as part of a series of measures seeking to jumpstart anemic economic growth, Prime Minister Jose Luis Rodriguez Zapatero said Wednesday.

Zapatero told legislators in Parliament that Madrid's Barajas and Barcelona's El Prat airports will be run by private operators under a licensing, or concession system. Both airports have been recently remodeled and expanded to absorb increased passenger traffic in coming years.

The measures announced by Zapatero seek to foster investment and growth after Spain's timid economic recovery stalled in the third quarter, as government austerity measures, high unemployment and weakening exports weighed on output.

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