Source:morningstar.com/news
German Parliament Votes To Privatize Air-traffic Control
04-07-06 10:38 AM EST
BERLIN (AP)--German lawmakers on Friday approved government plans to privatize the country's air-traffic control agency, a move designed to attract investment and improve efficiency.
A large majority passed a bill allowing the sale of up to 74.9% of Deutsche Flugsicherung, the national air-traffic control company. The government plans to retain at least 24.9% of the shares.
The planned sale will allow Germany to meet European Union requirements to limit the role of governments to that of a regulator.
The government says the move won't lead to any decline in safety standards, though some opposition politicians say it is against the German constitution.
The government plans to establish a Federal Office for Air-Traffic Control to act as regulator and issue licenses to air-traffic control companies.
Deutsche Flugsicherung, which employs 5,300 people, coordinates more than 8, 000 plane movements in German airspace a day.
German Parliament Votes To Privatize Air-traffic Control
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