So long, Farewell Aerolineas
The Argentine national airline is in private hands, 11 years after it was privatized. But nobody is saying what the new owners paid for one of Latin America's worst airlines.
After years of trying, the Spanish government's industrial
holding company, Sepi, managed to unload Aerolíneas
Argentinas on Grupo Marsans, a private Spanish tour operator,
at the beginning of October. The deal marks the end of the
Spanish government's 11-year involvement with
Aerolíneas, the Argentine national airline. Iberia, the
Spanish national airline, took over Aerolíneas in 1990
in one of the first privatizations in Argentina as the country
struggled to control its public finances and prevent another
outbreak of hyperinflation. Madrid took a political decision to
support the government and ordered its then state-owned
companies to buy Argentine government assets. Even at the time,
Argentine government officials admitted the sale of
Aerolíneas was flawed as they tried to renegotiate sale
terms with the Spanish. Media and politicians on both sides of
the Atlantic complained of irregularities during the sale
negotiations. They were also concerned that Iberia lacked the
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