Argentina’s Latest Nationalization

The current Argentine government clearly agrees with this 2006 advertisement for Aerolineas Argentinas.

Less than two months after Argentina announced the state would be taking control of $30 billion dollars worth of privatized pension funds, the Argentine government has renationalized Aerolineas Argentinas and Austral after 18 years of Spanish ownership with a 42-22 vote in the Senate. According to AP, Marsans, the Spanish group that was the previous owner of Aerolineas Argentinas and Austral, announced they would sue the Argentine government in international court for the seizure.

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