SPANISH airport company Aena Aeropuertos is set to hit the market this autumn in the biggest privatisation in Europe this year.

Owner of London’s Luton Airport, the company – backed by the Spanish state – is the largest airport operator in the world.

The €8.84 billion (£7 billion) deal has five banks onboard to oversee the listing: Goldman Sachs, Bank of America Merill Lynch, Morgan Stanley, Santander, and BBVA.

The listing saw a tense competition between investment banks to see who would get a stake in the deal.

Prospective banks had just 15 minutes each to convince Spanish government officials that they were worthy to handle the crossover.