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Argentine airport concessionaires pay more

Eurnekian, near the duty free shops selling the fund Advent.

In its race to buy Telecom Argentina, Eduardo Eurnekian and dodged several obstacles: the group with the permission of the Government and was elected by the Italians as a finalist, along with Roman and IRSA. Now, the employer is terminating raise funds to finalize the acquisition. And a good part will come from the sale of the dealership shops.El free airports are close to signing with Advent, the investment fund until last year owned the OCA, to sell control of its business tax free shopping. Martin Eurnekian (nephew of Edward) who operates from Uruguay is all local. The government say that the State has no connection with Interbaires, the company that holds the concession of the free shops. The Ministry of Defence had 20% of the company and was intended to give that part to the current owners for $ 9 millones.La Eurnekian negotiating with Advent is, however, by hundreds of millions. The employer tendered, together with Matias Garfunkel, about U.S. $ 580 million for the part of Telecom Italia in Telecom Argentina. It is believed that the final figure of this transaction will be slightly higher (about U.S. $ 600 million). Thus, would -At least, the $ 300 million of its share in the offer. Besides Argentina, Eurnekian has free shops in Montevideo, Guayaquil and Armenia, which also owns a bank. And he proved to Credit Suisse (which handles the sale of Telecom) that money is available for purchase. In their environment, they refuse to talk about it, because Interbaires not recognize as their own. Advent executives did not return calls this diario.Los free shops billed $ 170 million in the country and almost double the outside. Dufry owns Advent, a giant of this kind of trade that has a presence in 811 airports, with sales of U.S. $ 2,000 million annually. Dufry want Interbaires since 2005, according the trade publication The Moodie Report, in which managers typically leave Interbaires. It is assumed that the granting of Interbaires expired this year (with the Airport), but they were extended to 2027 by decree in the government of Nestor Kirchner.

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Airlines by the Brazilian aircraft Embraer 800

PLAN FOR THE RENOVATION OF THE FLEET

The purchase of 20 Embraer aircraft by Aerolineas Argentinas could be a bad deal for the state, at least from a strictly Financial. It happens that the average price committed to each of these aircraft is nearly 30 million dollars, while the latest market valuations show that these planes can get at a list price of $ 28 million, while the real price or "market" fell to U.S. $ 25.3 millones.La operation was announced in May by President Cristina Fernández , the same day her then-Secretary of Transport, Ricardo Jaime, specifying that the total purchase would cost "nearly $ 600 million, of which 85% will be financed by the National Development Bank of Brazil ( BNDES). But the impact of the global financial crisis also hit on the orders of the Brazilian factory. A market report on the trade publication that sheds Ascend is acquiring Embraer 190 Airlines (those used to renew the fleet of Southern) had a list price of $ 29.9 million in October 2008, then fell to U.S. $ 28.70 billion a year later. In terms of market valuation (prices actually end up paying customers Embraer), the contribution of 2008 was U.S. $ 28.30 million per plane, relatively close to list price. But a year later, in October 2009, the market price fell to $ 25.3 million per aircraft. Which reveals that airlines would pay about $ 4 million above the market value of each team or, what is the same, $ 80 million dollars more for the purchase of 20 aircraft. Since the Government has defended the operation as something that goes beyond strictly business and that involves the bilateral relationship with Brazil. About the promise by filing Brazilian manufacturing of some parts of the Area Material Embraer Córdoba.En that sense, yesterday the Secretary of Transportation, Juan Pablo Schiavi, defended strictly official policy towards airlines. In announcing the start of regional flights from Aeroparque, said that "the national state has taken the decision to take on airlines for himself and has a very efficient work on it." And he said, the deficit of 2,300 million pesos Airlines recorded in 2009, "the company should be more controlled and audited more we have."

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Cancelled flights by Lufthansa pilots strike

About 4,000 pilots Europe's largest airline this morning began a strike that could cause some 300,000 passengers are affected.

A massive strike by pilots of the German airline Lufthansa this morning caused havoc in half of Europe. About 4,000 of the 4,500 pilots of the highest European airline stopped working this morning through Thursday, and the company has filed a complaint with the Justice to try to stop a strike that considers "disproportionate" and that only now led to the cancellation of 800 flights and could cancel up to 4,000 in four days, affecting some 300,000 passengers. Which began today is the largest trade union movement in the history of the company. Many travelers, warned several days, delayed or canceled their trips, but still chaos taking hold of the main airports, although Lufthansa launched an emergency plan to keep at least half of its flights . Many passengers on domestic flights are being diverted to rail lines, and thus forced to make journeys of up to 5 to 6 hours instead of flights of less than an hour. The Cockpit union, which brings together more than 80% of the Lufthansa pilots, calls receive the same wage agreement for all the drivers of the company, including its foreign subsidiaries, which the company denies. During the weekend there were negotiations until Sunday night, but for now seems entrenched positions and the union continued its strike call. The union claims that drivers subsidiaries as Austrian Airlines or Lufthansa Italy earn much less. All that for Lufthansa is now promising not to lay off pilots until at least 2012. The company expects to lose in four days to strike up to 100 million euros, mainly due to lease aircraft and crews from other companies to attempt to override the minimum possible number of flights. The strike also affects subsidiaries of Lufthansa and Germanwings and Lufthansa Cargo. The German financial press today strongly attacked the pilots, whom he calls "irresponsible" for striking while the German economy still do not get out of the crisis. Michael Fuchs, vice chairman of the CDU parliamentary group, ruling head of government of Angela Merkel, said this morning that a strike "damaging" severely hurt the German economy. "I do not understand these drivers, who earn at least 6,000 euros per month and in many cases to 10,000. And they call for an increase of 6.4%. It's exaggerated," said Fuchs. But the union says that far from all Pilots have their salaries.