The government is moving forward with the full privatization of Intercargo and has set a deadline of eight months.

The national government has launched the privatization process of Intercargo, the state-owned company responsible for ramp and ground handling services for aircraft.

The Ministry of Economy, together with the Secretariat of Transportation and other agencies, has established a timeline with a period of eight months to complete the operation, which will involve the sale of 100% of the share package through a national and international public tender.

Unlike other experiences, such as the YPF case, no percentage will be reserved for the State nor will a Participated Ownership Program be implemented. The initiative is in line with the provisions of the Bases Law, which includes Intercargo among the state-owned companies subject to privatization, and responds to President Javier Milei's decision to reduce state involvement in business activities.

No state involvement and new players in the market

The Executive reported that the Secretariat of Transportation will prepare all technical, contractual, and tender documentation, under the supervision of the Public Companies Transformation Agency. In addition, the inventory of assets will be updated and the termination of the current concession contract will be promoted, by mutual agreement, to enable the sale.

Meanwhile, the Transformation Agency will coordinate compliance with the timeline and will request a public bank to appraise the share package. At the same time, the Subsecretariat of Air Transport must guarantee the continuity of the service without affecting national or international air connectivity.

In parallel, the government has also moved forward with the deregulation of ramp services, eliminating Intercargo's monopoly and allowing six private companies to operate at the country's airports. These include MNZS S.A., Global Protection Service S.A., Fly Seg, Air Class Cargo, Handyway Cargo S.A., and Escalum Investment S.A.

Union resistance and legal conflict

The official decision triggered opposition from the Kirchnerist union APA (Aeronautical Personnel Association), which filed a legal injunction to halt the privatization. The union claimed "serious irregularities" and warned that the measure seeks "to undermine workers" and to hand over "profitable state businesses" to the private sector.

According to APA, Decree 198/2025, which authorizes the sale, classifies the company as loss-making, something they consider false. Instead, they point out that Intercargo had in 2024 a surplus exceeding $17,000 million, without financial assistance from the Treasury, as stated in the Budget Execution Report prepared by the National Budget Office.

While the process moves forward through the official platforms SUBAST.AR and CONTRAT.AR, the Executive keeps that the measure is part of a broader plan to improve competitiveness, encourage investment in airport infrastructure, and raise the quality of services offered to both airlines and passengers.