AAI, which works under the Ministry of Civil Aviation, owns and manages more than 100 airports across the country.
Sources said the government plans to sell its residual stake in the already privatized Delhi, Mumbai, Bengaluru and Hyderabad airports as part of its ambitious Rs 2.5 lakh crore asset monetization pipeline to raise additional resources.
The Airport Authority of India (AAI) has a stake in four airports, as 13 more airports have been identified for privatization in the fiscal 2021-22, with two people deliberating with the Empowered Committee of Secretaries last month exposed to.
The Ministry of Civil Aviation will receive the requisite approval for divesting AAI’s equity stake in the joint ventures operating at Delhi, Mumbai, Bengaluru and Hyderabad airports, he said, adding that the issue is likely to go to the cabinet for approval in the next few days . .
Sources said that for the 13 AAI airports identified for privatization, the possibility of clubbing profitable and unprofitable airports will be explored to create a more attractive package.
In the first round of privatization of airports under the Narendra Modi government, the Adani Group bagged contracts for six airports – Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati last year.
AAI, which works under the Ministry of Civil Aviation, owns and manages more than 100 airports across the country.
While in Mumbai International Airport, the Adani Group holds a 74% stake, the remaining 26% is held by AAI.
At Delhi International Airport, GMR Group holds 54%, Airports Authority of India 26%, while Fraport AG and Erman Malaysia hold 10%.
AAI holds 26% in Hyderabad International Airport Limited with the Government of Andhra Pradesh. It also holds an equal stake in Bangalore International Airport with the Government of Karnataka.
In the 2021-22 budget speech, Finance Minister Nirmala Sitharaman said that monetization of operational infrastructure assets is a very important financing option for the creation of new infrastructure.
He said a “national monetization pipeline” of potential brownfield infrastructure assets would be launched and an asset monetization dashboard would also be created.
Prime Minister Narendra Modi said last month that the government was aiming to monetize 100 properties such as oil and gas pipelines, which could attract a massive investment of ₹ 2.5 lakh crore.
The government is targeting Rs 1.75 lakh crore from disinvestment proceeds in the next financial year starting from April 1.
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