AENA: ART.49 OF THE RD 11/2020 DOES NOT APPLY TO AENA (ANÃLISIS BANCO SABADELL)
The company has communicated that the article 49 included in the RD 11/2020 authorising the Tax Office to get hold of the liquidity reserves of regional organisations and other institutions of the public sector does not apply to AENA.In this regard, the company outlines that its stance has been confirmed by the State General Administration through the Tax Office.
Thus, we welcome the fact that the company specifies the State’s view on this issue, which dispels the rumours generated by the news released by the press. We continue to believe that the dividend (currently suspended until the AGM) is the most likely formula to raise funds (from AENA) by the State.
Aena SME SA, formerly Aena SA, is a Spain-based company primarily engaged in the airports operation. Its activities are divided into four segments: Airports, which comprises Aeronautical subdivision, responsible for the management of airports, jetways, security, handling, cargo and fuel services, among others, as well as Commercial subdivision, including duty-free and specialty stores, restaurant services, car rental, as well as banking services and advertising; Services outside the terminal, which manages real estate assets, such as parking lots, warehouses and lands; International, which comprises operations of Company's subsidiary, Aena Desarrollo Internacional SA, that invests in other airport owners principally in Mexico, Colombia and the United Kingdom; and Others, encompassing corporate activities. It manages tourism, hub and regional airports, as well as heliports and general aviation areas. Furthermore, its destination range comprises Europe, the Americas, Asia and Africa.
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