The new body will have four representatives from each government and will also monitor Aena's investment in Canary airports. It is due to be approved on 29 October by the Canary Islands–State Bilateral Commission.
It matters for Lanzarote, where upgrading the airport is a long-standing demand. The news report doesn't mention César Manrique airport by name, but it is one of the eight.
Sources
This is our own summary. The full story is in the linked outlets, which publish in Spanish.