New Argentinean president Javier Milei has included a plan to hand Aerolineas Argentinas shares to its employees, and implement open skies, among an extensive series of reforms for the country.

Milei disclosed the proposal to authorise transfer of a “total or partial” share package of the airline during a televised national address on 20 December.

He immediately followed this statement with a brief mention of intention to introduce an open skies policy.

The Argentinean government’s official bulletin carries more detail of the broad programme, setting out the foundation for a “reconstruction” of Argentina’s economy.

Aerolineas Argentinas-c-Aerolineas Argentinas

Source: Aerolineas Argentinas

Milei’s economic reform includes ‘total or partial’ transfer of Aerolineas shares

Argentinean aeronautical policy, it states, has “strongly limited” the development of the commercial airline industry, which is a “fundamental pillar” of economic and tourism development.

“Comprehensive re-organisation of commercial aviation legislation is imperative to provide the market with a competitive environment that provides sufficient flexibility to reach all Argentinean cities,” it adds.

These objective demand “modifications” to the aeronautical code, it says, to “radically improve competitiveness” in the sector.

In a section mentioning the “rescue” of Aerolineas Argentinas and its regional operator Austral Lineas Aereas, the bulletin says a number of laws will be repealed or replaced.

It will authorise the transfer of a partial or total share package of both carriers “to the employees of the respective companies” in accordance with an ownership participation programme.

This will also cover a number of associated companies, including tour operator Optar, cargo service JetPaq, and its ground-handling arm.

Assignment of the new rights will be apportioned among employees who choose to participate, the bulletin states.