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July 4, 2019

India approves proposal to lease out three airports

The Government of India has approved a proposal to lease out three Airports Authority of India (AAI) airports through a public-private partnership (PPP).

The Government of India has approved a proposal to lease out three Airports Authority of India (AAI) airports through a public-private partnership (PPP).

Airports in Ahmedabad, Lucknow, and Mangaluru will now be run by Adani Enterprises, who quoted the highest bid.

Adani will operate, manage and develop the airports for a lease period of 50 years. The proposal has been approved by the Union Cabinet chaired by Prime Minister Narendra Modi.

The projects will bring efficiency in delivery, expertise, enterprise, and professionalism, as well as attracting investments in the public sector, the government said.

The government also noted that the move will lead to enhanced revenues for AAI, which may result in additional investment by the authority in tier II and tier III cities.

In February 2019, Adani Group won the rights to run six airports for a lease period of 50 years.

The AAI had selected the winner on the basis of the per-passenger fee offered by the bidders.

Apart from the three approved now, Adani holds operations and maintenance rights for Thiruvananthapuram, Guwahati and Jaipur airports.

The AAI recently signed an agreement with Boeing for the creation of an air traffic management plan to help improve the efficiency of national aircraft operations.

Boeing will work with the Directorate General of Civil Aviation, airlines operating in India, airport operators, and other airspace stakeholders.

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