Infraero may have part of its shares traded, says Brazil minister

Brazil's Transport Minister Maurício Quintella denied that the government is considering privatizing the Brazilian Airport Infrastructure Company—Infraero—but admitted the possibility of having part of its shares traded. The statement was made Tuesday (Aug 8).

Infraero is a federal company linked to the Secretary of Civil Aviation, in charge of controlling the country's main airports.

The government never announced the total privatization of Infraero, the minister said. The plan is actually to recover the state-controlled company, he added. “The idea is to give Infraero the necessary conditions to be sustainable,” Quintella said during a public hearing at the meeting held by the Senate commission on infrastructure.

He did not rule out the possibility of selling over 50% of the company. In this case, Infraero would gain more administrative flexibility, as its purchases would no longer have to comply with public concession rules, the minister argued. Trading Infraero's shares to improve and the company to become more modernized.

After posting losses adding up to $958 million from 2013 to 2015 and $240 million last year, Infraero is expected to profit a total of $128 million this year. The figure comes as a result of a debt relief of $128 million owed the Treasury.

Translated by Fabrício Ferreira