Govt to sell remaining stake in Delhi, Mumbai, Bengaluru and Hyderabad airports
16 March 2021
The government will offload its residual stake in privatised Delhi, Mumbai, Bengaluru and Hyderabad airports as part of its Rs2.5 lakh crore asset monetisation plan.
The Airport Authority of India (AAI) will sell its remaining stake in these four airports and has identified 13 more airports for privatisation in the 2021-22 fiscal, reports citing sources close close to the development said.
The Airports Authority of India (AAI) board has approved a proposal to sell its remaining stake in these four public-private partnership airports, the sources said citing deliberations at the Empowered Committee of Secretaries last month.
The ministry of civil aviation will obtain requisite approvals for divestment of equity stake of AAI in the respective joint ventures running Delhi, Mumbai, Bengaluru and Hyderabad airports, they said adding the issue is likely to go to the cabinet for approval in the next few days.
The AAI owns and manages more than 100 airports across the country. It is likely that AAI may look at clubbing profitable and non-profitable airports to offload some of these thy may be less attractive to investors, the reports said.
The Adani Group is the biggest gainer in the government’s airport privatisation prograame, having bagged contracts for six airports — Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati — last year.
Adani Group also holds 74 per cent stake in Mumbai International Airport, while the remaining 26 per cent stake is with AAI.
In Delhi International Airport, GMR Group holds 54 per cent and AAI holds 26 per cent, while Fraport AG and Eraman Malaysia holds 10 per cent stake each.
AAI along with the government of Andhra Pradesh holds 26 per cent in Hyderabad International Airport Ltd. It holds a similar stake in Bangalore International Airport along with the Karnataka government.