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NEWS Last modified on July 9, 2014

Spanish government freezes airport tariffs

The Spanish government has announced it will freeze airport tariffs until 2025 in an effort to boost air traffic.

Spain has been affected by years of high charges and the continued economic crisis and the move comes only weeks after 49% of the heavily indebted airport operator AENA was put up for sale.

The country’s aviation industry has been bit over the last few years by high charges and a continued economic crisis, but it is hoped the tariff freeze will make the sale more attractive for investors.

AENA owns 46 airports in Spain and the operator is reported to be worth up to €16 billion ($21.8 billion) based on valuations of similar companies, and last year, handled 187.4 million passengers.

The government announced in June that it will sell 28% of AENA in a public offering on the Madrid stock exchange and auction an additional 21% to long-term investors.

Spain's tourist industry is reportedly worth around 11% of the country’s GDP and is the world's third-largest leisure destination after France and the US.

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