Air Transport World

Spain selected.

Spain selected five Spanish financial institutions and retailers as core shareholders for a 30% stake in Iberia valued at Ptat74 billion ($1.1 billion) in the second phase of the airline's privatization. None may hold more than 10% of the airline. Successful bidders will be committed to hold the stock for at least three years. In Feb., SEPI agreed to sell a 9% stake to British Airways and 1% to American Airlines. …

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