Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Bolivia clips wings of Spanish airport firm

Share this article

Bolivia clips wings of Spanish airport firm
Morales has a history of nationalizing Spanish firms operating in Bolivia. Photo: Aizar Raldes/AFP
10:22 CET+01:00
Bolivia's President Evo Morales has ordered the nationalization of Spanish airport operator SABSA after accusing the firm of failing to invest enough in local business.

Morales on Monday announced he plans to take over the SABSA airports serving Bolivia's three largest cities.

Morales, who made the announcement at a news conference in the city of Cochabamba, promised negotiations with SABSA, an affiliate of the Spanish firms Abertis and Aena, within 180 days on the amount of compensation.

He also ordered the military to take control of the three airports "to safeguard the public interest" and warned that any attempt to impede the nationalization would mean  prosecution for those involved.

The company has run the airports serving La Paz, Cochabamba and Santa Cruz since 1997, when they were privatized. It was acquired by the Spanish group Abertis-Airports in 2005.

It is the third nationalization affecting Spanish investments in Bolivia in less than a year.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

The Swedish university tackling the challenges of tomorrow

Ranked among the world's best young universities in the QS Top 50 Under 50, Linköping University (LiU) uses innovative learning techniques that prepare its students to tackle the challenges of tomorrow.

Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement