PARIS (Reuters) - The privatisation of French airports operator ADP (NASDAQ:ADP), the cornerstone of President Emmanuel Macron's drive to sell off state assets, is unlikely to happen in the months ahead because of unfavourable market conditions, a minister said on Monday.
The privatisation of Aeroports de Paris (ADP) has already been held up by a public petition calling for a referendum on the matter and now the sharp economic downturn.
"It is not a subject that will be on the table in the months ahead. After 2022, we will see," Transport Minister Elisabeth Borne told BFM TV, referring to the year of France's next presidential election. "Conditions now are not favourable."
Borne also said the government would not allow airlines snap up the domestic routes that carrier Air France (PA:AIRF) will have to drop in exchange for state loan guarantees.
The government has said Air France will have to sharply reduce its air traffic on domestic routes served by high-speed trains in order to reduce CO2 emissions.