The concessionaire comprising Abertis, Acciona, Globalvía and Sacyr has six extra months to negotiate a rescue plan before final liquidation, which had previously been set for 13 December.
Íñigo de la Serna, Spain’s new infrastructure minister, said he is looking to start conversations to solve bankruptcy problems for the eight roads with problems.
The roads facing bankruptcy are: the AP-36, AP-41, M-12, R-2, R-3, R-4 and R-5.
He believes a refinancing plan worth €3.4bn may be possible, with a 50% reduction. The Ministry would assume the roads through its company Seittsa.
This plan was first introduced in 2014, but it wasn’t approved by the banks. However, the previous government succeeded in negotiating a new deadline due by July 2017.
De la Serna said that it would be difficult to negotiate a rescue mainly due to the fact that the banks have sold a large part of the highways’ debt to so-called 'vulture funds', but he added that conversations have already started.