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Privatisation of four airports by Oct.

By Our Special Correspondent

New Delhi Jan. 1. The Ministry of Civil Aviation proposes to complete the privatisation of four international airports by October this year.

The proposal, which is coming up for the Union Cabinet's approval on Friday, calls for a joint venture private partnership of the four international metro airports with a five per cent stake for the Airports Authority of India (AAI) as against 95 per cent to the private bidder. The proposal calls for allowing the private corporates to have an independent say and decision-making in the metro airports at Delhi, Mumbai, Kolkata and Chennai. It will, however, be more investment-driven than revenue-driven, sources said.

The plan is for the AAI to keep control over the Air Traffic Control and airport security but the assets and management would be transferred to the private partner. It also calls for a phased Action Plan for completion of the privatisation process by October end. The land on which airports stand shall remain with the Airports Authority of India.

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