Argentina’s government, which is seeking to re-nationalise its flag carrier Aerolineas Argentinas, failed on Tuesday to reach agreement with Spanish owners Marsans on how much the troubled company is worth.

With the airline crippled by debts of $890m and staff strikes, Marsans agreed in July to sell up at a mutually agreed price, but stark differences over what the loss-making company is worth have raised the prospect of a prolonged battle for control.