At the beginning of 1982, Álvaro Uribe Vélez, Director of Civil Aeronautics (then President of Colombia), made the decision to decentralize the management of two important international airports: Palmaseca in Cali and Olaya Herrera in Medellín. Palmaseca would be administered by a mixed economy company, proposed by the Permanent Business Committee of Valle del Cauca and the Cali Chamber of Commerce. The entity that would have to abide by the rules of public establishments would be 90% economically backed by state capital and 10% by private capital. The shareholders included Empresas Públicas de Cali, Palmira, Cortuvalle, C.V.C and Corporación Financiera del Transporte. This decentralization was never carried out and only years later the privatization process began