Govt to plans to sell residual stake in Delhi, Mumbai, Bengaluru, Hyderabad airports


The government intends to sell its remaining stake in already privatized Delhi, Mumbai, Bengaluru and Hyderabad airports as part of the ambitious Rs 2.5 lakh-crore asset monetization pipeline identified to raise additional resources, sources said.

Sale of Airport Authority of India's (AAI) remaining stake in the four airports as also 13 more airports have been identified for privatization in 2021-22 fiscal, two people aware of deliberations at Empowered Committee of Secretaries last month said. The Ministry of Civil Aviation will obtain requisite approvals for divestment of equity stake of AAI in the respective joint ventures running Delhi, Mumbai, Bengaluru and Hyderabad airports, they said adding the issue is likely to go to the Cabinet for approval in the next few days, sources said.

In the first round of airports' privatization under the Narendra Modi government, the Adani Group bagged contracts for six airports - Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati - last year. The AAI, which works under the Ministry of Civil Aviation, owns and manages more than 100 airports across the country. While in Mumbai International Airport, Adani Group holds 74percent stake, the remaining 26percent stake is with AAI.In Delhi International Airport, GMR Group holds 54percent, Airports Authority of India holds 26percent, while Fraport AG and Eraman Malaysia hold 10percent stake each. AAI along with the Government of Andhra Pradesh holds 26 percent in Hyderabad International Airport Ltd. It holds a similar stake in Bangalore International Airport along with the Karnataka Government.

Saudi reduces April crude for some Asian refiners, maintains India supply: Report

Rising trend of consumer price inflation may hurt consumers further in March

Moody's: Most economies won't come again to pre-pandemic levels until 2022


- Sponsored Advert -

Most Popular

- Sponsored Advert -