The national ministry for development is to abide by the decision of the National Competition Commission (CNMC) to force the Spanish airports' authority, Aena, to reduce its tariffs by 1.9% next year, by adjusting its budget for 2016 to take account of this cut.
The ministry will, in its words, "comply scrupulously with the law" in presenting its part of the budget that is currently passing through parliament before final approval.
The ministry is the arm of government responsible for airports, and the government retained a 51% stake following the partial privatisation of Aena in February. The budget recognises the decision of the "super regulator" and that also of the High Court, which has rejected appeals against the tariff cut led by Aena itself and a main shareholder - TCI, the British hedge fund, The Children’s Investment. Initially, the CNMC had been pressing for a 3.5% reduction.
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