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France sells Toulouse airport stake
Source:AFP-Global Times Published: 2014-12-7 23:28:01
Sale to Chinese-involved group raises some concern
The French government is planning to sell a 49.99 percent government stake in a major French airport where Airbus tests and assembles planes to a Chinese consortium.
France announced Thursday local time that it had decided to sell the 308 million euro ($381 million) stake in the firm that manages Toulouse airport to the Symbiose consortium that is made up of Chinese State-owned group Shandong Hi-Speed Group and Hong Kong-based investment company Friedmann Pacific Asset Management.
Toulouse-Blagnac airport in France's southwest, the fourth largest in France, is used by European aerospace giant Airbus - which is headquartered nearby - to test and assemble planes.
In its statement, the Finance Ministry said the consortium had promised to take into account the long-term interests of Airbus.
The decision on the new shareholding of Toulouse airport does not affect Airbus' flight operations activities at Toulouse Blagnac Airport, an Airbus spokesperson told the Global Times Sunday on condition of anonymity.
In an interview with local daily La Depeche du Midi, Economy Minister Emmanuel Macron insisted that the airport was not being privatized, pointing out that the state - which retains a 10.01 percent stake - along with local authorities would still be majority owners.
But officials on both sides of the political spectrum expressed their reservations about the planned sale, pointing out that French players had also been in the running to snap up the stake.
"Macron believes he is in Greece where the government sold ports to the Chinese to reduce deficits which continued to increase," said Marie-Noelle Lienemann, a Socialist senator who tweeted that airports must remain public.
Lienemann was referring to the 2008 signing by Chinese shipping giant COSCO of a 35-year concession to expand container terminals at the Greek port of Piraeus, as the country plunged into a devastating debt crisis.
The Finance Ministry insisted that the Chinese consortium had put forward "an ambitious development project" for the airport that targets an increase in jobs linked to a rise in traffic.
The French Finance Ministry also pointed out that it was not selling any of the infrastructure such as buildings or runways, which remain the property of the state.
The Toulouse airport aims to increase traffic from 7.5 million passengers in 2013 to 18 million by 2030.
The Chinese connection could enable the facility to become a new point of entry in France of sought-after Chinese tourists, in the face of saturated Paris airports, the report said.
Source:AFP-Global Times Published: 2014-12-7 23:28:01
Sale to Chinese-involved group raises some concern
The French government is planning to sell a 49.99 percent government stake in a major French airport where Airbus tests and assembles planes to a Chinese consortium.
France announced Thursday local time that it had decided to sell the 308 million euro ($381 million) stake in the firm that manages Toulouse airport to the Symbiose consortium that is made up of Chinese State-owned group Shandong Hi-Speed Group and Hong Kong-based investment company Friedmann Pacific Asset Management.
Toulouse-Blagnac airport in France's southwest, the fourth largest in France, is used by European aerospace giant Airbus - which is headquartered nearby - to test and assemble planes.
In its statement, the Finance Ministry said the consortium had promised to take into account the long-term interests of Airbus.
The decision on the new shareholding of Toulouse airport does not affect Airbus' flight operations activities at Toulouse Blagnac Airport, an Airbus spokesperson told the Global Times Sunday on condition of anonymity.
In an interview with local daily La Depeche du Midi, Economy Minister Emmanuel Macron insisted that the airport was not being privatized, pointing out that the state - which retains a 10.01 percent stake - along with local authorities would still be majority owners.
But officials on both sides of the political spectrum expressed their reservations about the planned sale, pointing out that French players had also been in the running to snap up the stake.
"Macron believes he is in Greece where the government sold ports to the Chinese to reduce deficits which continued to increase," said Marie-Noelle Lienemann, a Socialist senator who tweeted that airports must remain public.
Lienemann was referring to the 2008 signing by Chinese shipping giant COSCO of a 35-year concession to expand container terminals at the Greek port of Piraeus, as the country plunged into a devastating debt crisis.
The Finance Ministry insisted that the Chinese consortium had put forward "an ambitious development project" for the airport that targets an increase in jobs linked to a rise in traffic.
The French Finance Ministry also pointed out that it was not selling any of the infrastructure such as buildings or runways, which remain the property of the state.
The Toulouse airport aims to increase traffic from 7.5 million passengers in 2013 to 18 million by 2030.
The Chinese connection could enable the facility to become a new point of entry in France of sought-after Chinese tourists, in the face of saturated Paris airports, the report said.
