Argentine Senate approves takeover of airline

BUENOS AIRES, Argentina (AP) -- Argentina's Senate has given final legislative approval to a government takeover of Spanish-owned Aerolineas Argentinas.

The Senate has voted 42-20 for the takeover of the flagship airline and its subsidiary Austral Lineas Aereas.

The two are owned by Grupo Marsans of Spain, which says the government is setting too low a price for Aerolineas Argentinas SA.

Marsans has controlled both airlines since 2001.

Wednesday's vote follows approval by the lower house of Congress.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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