Deputy max kirchner presented this Wednesday a bill that aims to prohibit the transfer of shares of Argentinian airlines without the authorization of the National Congress. In the text, a modification of Law 26,466 is proposed to discuss any attempt at privatization.
The initiative establishes “the prohibition of the transfer of shares without the authorization of the National Congress voted by two thirds of its members“. He also criticizes the candidates of Together for Change and La Libertad Avanza for promoting the privatization of public companies.
The presentation of the project occurs hours after the act in Ezeiza where the vice president Cristina Fernandez de Kirchner and the Minister of Economy and presidential candidate for Union for the Homeland, sergio masacelebrated the 15th anniversary of the renationalization of AA in the framework of the presentation of a flight simulator.
In the fundamentals of the project, Kirchner states that “although Law 26,466 declares the public utility of the shares of Aerolíneas Argentinas SA, It did not provide for a mechanism that limits the transfer of those shares, so it is necessary to establish the scope of said utility and reflect one of the wills of the law – or the spirit or purpose“.
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In one of his most critical passages, he calls for “setting limits on those who, disguised as efficient private managers, have done nothing but the State as the source of financing for fat personal businesses to the detriment of our country and of Argentine men and women.”
“Once again, they tried the Argentine men and women with fallacies based on arguments that they already used during the ’90s and that allowed the privatization of companies that managed by the private sector did not obtain results and generated unemployment, lack of connectivity, emptying and the abandonment of strategic resources for development”, it is warned.
The privatization of Aerolíneas Argentinas
The airline had been a witness to privatizations in the 1990s, being emptied by the Marsans Group, which had stopped investing despite earning huge fortunes from flight operations.
Around 2008, with the company in bankruptcy, the Argentine State had to take over the payment of the salaries of the workers of Aerolíneas Argentinas and also the fuel for the planes.
It was then that the Government of Cristina Kirchner made the strategic decision to recover the airline through its nationalization, which was approved in both houses of Congress.
Finally, on December 17, 2008, Law 26,466 was enacted, declaring the shares of group companies to be of public utility and subject to expropriation.