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Judi Lynn Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-21-08 08:02 PM
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Argentine government to buy out airlines
Argentine government to buy out airlines
July 21, 2008

BUENOS AIRES, Argentina—Argentina's government is planning to buy airlines Aerolineas Argentinas and Austral from a Spanish travel conglomerate for an undisclosed price.

Planning Minister Julio de Vido says he and executives from Spain's Grupo Marsans signed a deal Monday giving the government control of the airlines within 60 days.

He says their assets and liabilities are being assessed to determine a price. Transportation Secretary Ricardo Jaime last week said their combined debt was US$800 million.

The carriers run more than 85 percent of domestic Argentine flights.

More:
http://www.boston.com/news/world/europe/articles/2008/07/21/argentine_government_to_buy_out_airlines/
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