A minister defends nationalize companies and appointment to the airlines in Europe

A minister defends nationalize companies and appointment to the airlines in Europe

International tourism

The minister of Consumption, Alberto Garzón, has said that the nationalisation and government intervention in business is a “tool”, in abstract terms, which sets out the Constitution and that it is being used in and raised different european countries before the economic effects of the pandemic coronavirus.

“In abstract terms, it is a tool available not only by the Constitution, but, as we’re seeing, in europe, where many countries are intervening in the capital of many companies, including some airlines,” said Garzon in an interview on Thursday in TVE (Air France, the more it loses of Europe and the rescue public more bulky).

Iberia, Vueling, Air Europa and Air Nostrum are the four airlines in Spanish that have received support from public resources in the form of state guarantees of up to 80 percent of the credit disbursed by the ICO. Out of the country, Lufthansa has received an injection of public capital from the German government to become a shareholder with a 25 percent of the capital. Alitalia has also experienced the same situation, while Air France-KLM or TAP have also been recipients of public aid.

It is assumed that with these injections of liquidity by the airlines spain can hold out until after the summer. The uncertainty on the purchase of Air Europe Iberia you can open predictably the debate after the high season about whether the government should nationalize airlines (Iberia on Air Europe: “They have challenges even greater than our”).