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.