The Union Cabinet on Wednesday gave its approval to the proposals for leasing out three major airports — Ahmedabad, Lucknow and Mangaluru — of Airports Authority of India (AAI) through public-private partnership (PPP). Earlier this year, the Adani group had won the bids to operate six airports for a period of 50 years, including the three for which Cabinet nod came on Wednesday. The bidding for all the six domestic airports was based on per passenger basis instead of revenue sharing during the privatisation of Mumbai, Delhi, Bengaluru and Hyderabad airports. Earlier, Adani Enterprises is believed to have shown interest in buying a 23.5% stake of Bidvest and ACSA- two private equity partners of GVK Airport Ltd – in Mumbai airport. Of the total, around Rs 95,178 crore of investment is expected to come from private investments in joint venture airports, new terminals and development of greenfield airports.

Source: dna July 03, 2019 23:48 UTC