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aenasede

Companies, Spanish economy 15th April 2023

Aena traffic levels up 0.6% in March, exceed 2019 levels again, reaching 20.1 million passengers

Renta 4 | Aena (AENA) publishes traffic statistics for Spanish airports for March. Although passenger figures slowed slightly compared to January and February, March traffic levels again exceeded (+0.6%) 2019 levels, reaching 20.1 million passengers, thus improving expectations by nearly 10%. Domestic passengers were 4.4% above 2019 (February above +6%), while international passengers were 1.6% below 2019 levels (February flat vs 2019). The number of flights exceeded 2019 levels by…

agri food

In Spain, Spanish economy 15th April 2023

Spain’s 7.5% core inflation shows cost increases still being passed on to rest of economy

Bankinter : The March final CPI figure confirms the preliminary 3.3%, up from 6.0% year-on-year in February. The month-on-month figure also confirms the preliminary 0.4% (from +0.9% m/m previously). The underlying rate confirms the preliminary year-on-year figure of 7.5% (vs +7.6% year-on-year previously). Annual CPI rate: general and core, percentage Analysis: The moderation of the general data in March is based on the decline in electricity and fuel prices. Despite…

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Spanish economy 14th April 2023

Government offers grants of up to €200,000 for industrial SMEs to test four-day week

The Spanish government has launched a call for €9.6 million in subsidies for industrial SMEs to test the four-day working week. Companies that apply will be eligible for public funding of up to 90% of their reduced working time plan, with a maximum of €200,000 per company. With these figures, if all grants were awarded at the maximum amount, the number of companies chosen for the pilot project would be…

Ferrovial

In Spain, Spanish economy 14th April 2023

76% of shareholders attend Ferrovial Shareholders’ Meeting, 93% vote for move to Netherlands

Fernando González Urbaneja | Ferrovial’s shareholders’ meeting passed with evident calm and a consensus materialised in 76% attendance and 93% of votes in favour of the decision to move the company’s headquarters to the Netherlands. All the dust that has swirled around the agreement to move the company’s head office has come to nothing for the company’s shareholders, who have validated the board’s proposal without criticism and without any rejection…

ferrovial junta 2022

Companies, In Spain, Spanish economy 13th April 2023

Ferrovial AGM to vote today on HQ change, which would be approved by 50% of shareholders; Norges rectifies and will support the proposal

Intermoney: Ferrovial’s Shareholders’ Meeting will debate and vote today on the Board of Directors’ proposal to move its registered office to the Netherlands, in order to be able to list on Wall Street without having to resort to ADRs. The proposal, announced on 28 February, has caused considerable political turmoil. In the event that the measure is approved, shareholders who oppose it could exercise their right of separation by selling…

UGT

Spanish economy 13th April 2023

Surreal: UGT union, which demands wage rises in line with inflation, offers 2.5% to its own workers, who will protest in the streets today

UGT staff will take to the streets today in several autonomous communities – Andalusia, the Balearic Islands, Madrid, Valencia, the Basque Country, Extremadura and La Rioja – to demand that the union unblock the negotiation of its framework collective agreement, which expired in 2020 and has been extended in ‘ultraactividad‘ (automatic extension period provided for in collective agreements while a new one is being negotiated) since then. The union is…

Australiaok

Spanish economy, Spanish Politics 13th April 2023

Australia and UK authorise seizure of Spanish assets over non-payment to renewables investors

Spain is currently the second country in the world with the second highest number of unpaid awards – amounting to 645 million euros – after Venezuela and ahead of Russia. The High Court of Australia has unanimously dismissed an appeal filed by Spain in an international dispute over awards issued by the ICSID, the World Bank’s arbitration body, linked to cuts made to renewables. As a result, some of Spain’s…

FCC ambito

Companies, Spanish economy 13th April 2023

FCC Ámbito allies with Iberdrola and Glencore to operate lithium-ion battery recycling factory in Spain and Portugal

Alphavalue / Divacons | FCC Ambito, a subsidiary of FCC Servicios Medio Ambiente, and Iberdrola, through its Perseo Venture Builder programme, will work with Glencore to provide industrial-scale lithium-ion battery recycling solutions in the Iberian Peninsula through the development of a specialised facility, the three companies announced yesterday. At the factory, whose location is yet to be defined, these energy storage devices could find a second life. Recycling of battery…

Ferrovial

Spanish economy, Spanish Politics 12th April 2023

Government vs. Ferrovial, an asymmetrical equation

Fernando González Urbaneja | It is not often that a government directly confronts a business decision taken by a responsible collegiate body. And when it does happen, it is not often that the government ends up getting fleeced. The relationship of political power with any business, no matter how large, is usually asymmetrical, in favour of the executive. Businessmen avoid confrontation because even if they achieve their aims, they always…

Meliá

Companies, Spanish economy 12th April 2023

Meliã expects to improve Easter Week figures by more than 20% compared to 2019

Alphavalue / Divacons | Last week the Spanish hotel chain was very optimistic about what will happen this Easter, in which after the recovery of tourism at international level, Meliã expects to improve the sales data recorded in 2019 by more than 20%. Particularly noteworthy are some national destinations such as the Canary Islands, where hotels have improved their occupancy and reached historic average figures. This was revealed by Meliã’s…