Abertis "respects" the decision of the Government of Bolivia, which has today decided to nationalize the three airports, the infrastructure group controls the country through its subsidiary TBI, in which Aena also participates with 10%. But although it assumes the decision expected that the process "is carried out in accordance with international principles of law" and that is closed with an agreement that determine "appropriate compensation". The public company Aena said that it fully assumes the position of Abertis partner, which it describes as "null" the impact of the nationalization on their accounts.
The Group's concessions did not rule out that the Bolivian Government would take a decidion as the announced today. Especially when at the end of year break negotiations with respect to investments that had to be made in services of airports in Bolivia society Anonima (Sabsa), the subsidiary that controls the three airport facilities.
Through a statement, Abertis has reported that Sabsa has made a "significant investment effort" in recent years, of 12.6 million euros between 2005 and 2012. Another 38.6 million euros paid in form of a canon to the administration of the country would have added to that amount.
Exploitation of airports, for which the State claimed more investments, was not not to the liking of the Spanish company, which had denounced the breaches of the agreement by Bolivia. It is for this reason that Abertis initiated an arbitration proceeding in which claimed EUR 90 million compensatory damages, on the basis that the Government failed to implement the "regime applicable to the fees for boarding and landing services', which were frozen since 2003 and downgraded in 2005"in an arbitrary manner".
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