Bankinter | Before revising its estimates, Aena is looking at whether the strong acceleration in the recovery of the airline sector this summer is a flash in the pan. The study has arisen after ACI Europe improved its forecasts. It now estimates a recovery of 78% of traffic levels prior to the Covid virus on average in Europe vs 68% previously. These are the forecasts Aena used as a basis…
Link Securities | The consortia led by Spanish infrastructure and services groups ACS and Ferrovial have been selected, along with a third alliance, by the authorities of the city of Ingelwood, in Los Angeles, to present their final bids for a the Inglewood Transit Connector contract. This contract is for the design, construction, financing, operating and maintenance of the automated transit connector, according to yesterday’s elEconomista.es. The project consists of…
Abengoa has submitted to the State Industrial Ownership Corporation (SEPI) all the documentation and information required to obtain new financing for a total amount of 249 million euros from the Solvency Support Fund for Strategic Companies. “The application for this SEPI Financing continues to be processed, having submitted all the documentation and information required by SEPI”, the Andalusian company said in a statement sent to the Spanish National Securities Market…
Fernando González Urbaneja | All the polls (except those of the CIS) improve the voting expectations of the PP with Feijóo at the helm and worsen those of Sánchez’s socialism. In fact, they sketch out a tie at around 30% of the vote for each. And all the polls show that the Prime Minister’s rating is below that of the party and some of his ministers. These ratings seem to…
Aristóbulo de Juan | The fifth anniversary of the so-called resolution of Banco Popular has just passed. A historic event where the new European mechanisms and the FROB were the protagonists. I believe that what happened deserves a reflection based on a recap of the events over the ten long years that put an end to a bank that had been a model until the end of the last century….
Link Securities | In a Relevant Fact sent to the CNMV, Mapfre has communicated to the General Directorate of Insurance and Pension Funds the quarterly recalculation of its solvency position. This is to comply with the European Central Bank (ECB)’s requirement in the context of financial stability. It also follows the Insurance Supervisor’s recommendation based on good practices for Internationally Active Insurance Groups. According to the calculations which have been…
Alphavalue | As we flagged yesterday, finally on Saturday there was confirmation of Siemens Energy’s bid for 100% of Gamesa at 18,05 euros/share in cash (12.3 billion euros) with the aim of integrating the latter and delisting it. As you know, Siemens Energy already has 67,12% of Gamesa’s capital. The price being offered represents a premium of 27,7% with respect to the final closing price on May 17 2022. Excluding…
The European Commission officially advocates maintaining the suspension of fiscal rules in 2023. However, it warns that Spain is dragging serious “vulnerabilities” with “cross-border relevance” and fears that public indebtedness will be higher in 2026 than in 2021. “Spain is experiencing imbalances,” the European Commission warned yesterday as it released its spring package of recommendations. It warned that its “vulnerabilities relate to high external debt, public and private, in a…
The Ministry of Finance and Public Administration reached an agreement with the trade unions on Monday to launch the largest public employment offer in the history of the General State Administration, with 29,578 vacancies. As reported by the Independent Trade Union and Civil Servants (CSIF), the General Union of Workers (UGT) and Comisiones Obreras (CC.OO.), the negotiated offer does not include the State Security Forces and Corps, the Armed Forces…
Renta 4 | ACS may have reached an agreement with its partner Atlantia to inject capital into Abertis with the aim of making infraestructure acquisitions. According to press reports, the owners of Abertis, ACS (30% direct stake, 20% – 1 share via Hochtief) and Atlantia (50% + 1 share) could have agreed to inject capital in the concessionary in order to make new infrastructure acquisitions. In addition, to extend some…