High-flying vultures - News Summed Up
High-flying vultures
High-flying vultures

July 28, 2017 16:52 UTC

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High-flying vultures


First came the Spanish state flag carrier Iberia, then American Airlines and as from 2001, again Spanish capital with Marsans. Restored to state hands, Aerolíneas recovered markets and routes with notable success but ended up struggling with costly burdens and overmanning which persist to this day. Rather than an error, a rushed and botched nationalisation to take this state company out of corrupt hands (those of Marsans) looks like complicity. As a result, the vulture fund buying into the Marsans claim will pocket almost half that US$ 320 million. All justifying one description of Argentina which might sound like the highest praise but is usually a put-down — “a generous country.”


Source: Bueno Aires Herald July 28, 2017 16:52 UTC


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