New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the proposal for leasing out Ahmedabad, Lucknow and Mangaluru airports of the Airports Authority of India (AAI), through the public-private partnership mode.
The airports would be leased out to the highest bidder and that it would increase their annual profit 10-fold, Union Minister Prakash Javdekar said.
The Union Cabinet has given its nod for the leasing out of Ahmedabad, Lucknow and Mangaluru airports of the Airports Authority of India (AAI) through the public private partnership model to Adani Enterprise, accoridng to media reports.
The Cabinet approval gives Adani the right to manage Ahmedabad, Lucknow and Mangaluru airports for 50 years, CNBC-TV18 reported. In February this year, Ahmedabad-based Adani group had won the right to the privatisation of six airports put up by the government.
These airports included Lucknow, Jaipur, Thiruvananthapuram, Mangaluru, Ahmedabad and Guwahati. Adani group had emerged the the highest bidder for all six airports, quoting the highest per passenger fee to be paid to AAI on a monthly basis.
In November 2018, the government cleared a proposal for privatisation, receiving 32 technical bids from 10 companies, including Adani group, GMR, AMP Capital and the National Investment and Infrastructure Fund among others.
