University of New Mexico UNM Digital Repository NotiSur Latin America Digital Beat (LADB) 10-1-1992 Uruguay: State-run Airline To Be Partially Privatized Within Six Months Erika Harding Follow this and additional works at: https://digitalrepository.unm.edu/notisur Recommended Citation Harding, Erika. "Uruguay: State-run Airline To Be Partially Privatized Within Six Months." (1992). https://digitalrepository.unm.edu/notisur/10326 This Article is brought to you for free and open access by the Latin America Digital Beat (LADB) at UNM Digital Repository. It has been accepted for inclusion in NotiSur by an authorized administrator of UNM Digital Repository. For more information, please contact [email protected]. LADB Article Id: 059262 ISSN: 1060-4189 Uruguay: State-run Airline To Be Partially Privatized Within Six Months by Erika Harding Category/Department: General Published: Thursday, October 1, 1992 On Sept. 25 in Montevideo, Washington Neme, president of the state-run airline Pluna, told reporters that the company will be partially privatized within the next six months. He said the plebiscite on privatization scheduled for Oct. 1 would not affect plans for the airline. (See also Chronicle 09/17/92.) Under the new mixed enterprise arrangement, the government will maintain a 42% stake in the company, and employees are to have access to a 7% share. Of the remaining 51% stake transferred to the private sector, a 2% stake in the company must be allocated to "genuinely Uruguayan" investors. In the first phase of bid competition, Aerolineas Argentinas (Argentina), Varig (Brazil), Iberia (Spain) and American Airlines (US) expressed interest in acquiring Pluna stock. Formal bid specifications, including investment and management plans, must be submitted by mid- November. Pluna operates regular flights to Argentina, Brazil, Chile, Paraguay and Spain. (Source: Agence France-Presse, 09/25/92) -- End -- ©2011 The University of New Mexico, Latin American & Iberian Institute. All rights reserved. Page 1 of 1.