Spain delays airports privatisation bidding process

17 October 2011 (Last Updated October 17th, 2011 18:30)

Spain has delayed the privatisation of Madrid and Barcelona airports by three months to allow more time for bidders to secure financing.

Spain has delayed the privatisation of Madrid and Barcelona airports by three months to allow more time for bidders to secure financing.

The Spanish Government expects to raise more than €5bn ($6.9bn) from the sale of 90.05% of Madrid-Barajas and Barcelona-El Prat.

Both airports will be concessioned to two private companies for a 20-year period, with an option for a five-year licence extension in the hope of raising €3.7bn for Barajas and €1.6bn for El Prat.

Airport operator Aena Aeropuertos extended the deadline for submitting bids from 31 October to 31 January 2012.

The privatisation process will be completed within a month after the bids are submitted.