AAIs Planned Stake Dilution In Mumbai, Delhi Airports Not Sell Out: Govt

Survey AAI - UK Indira Gandhi International Airport, New Delhi - Aviatorsbuzz
A file photo of Indira Gandhi International Airport, New Delhi. Source: Twitter

Having embarked on an ambitious asset monetisation drive to raise additional resources, and hoping to raise Rs. 20,000 crore through sale of assets under the Ministry of Civil Aviation in 2021-22, the Government is looking to divest the remaining equity stake held by Airports Authority of India (AAI) in the Delhi, Mumbai, Bengaluru and Hyderabad airports.

Once approval comes through, the Government is likely to sell the remaining shareholding of AAI in these four key airports, The Indian Express reported.

Currently, AAI holds 26 per cent stake each in the Delhi and Mumbai airports, 13 per cent in Hyderabad and 13 per cent in the Bengaluru facility. The GMR Group owns 54 per cent stake in the Delhi airport, while Adani Group hold 74 per cent in the Mumbai airport. In addition to these four airports, AAI holds 49 per cent stake in Nagpur, 7.47 per cent in Kannur, and 51 per cent in Chandigarh.

AAI Will Continue to Earn: Puri

Civil Aviation Minister Hardeep Singh Puri on Monday said the Airports Authority of India (AAI) will continue to receive revenue share after the government sells its stake in the airports in Delhi and Mumbai.

 

“Those who are raising concerns should also know that the Delhi’s airport and the Mumbai airport are on a 60-year lease. These & the 6 other airports will be back with AAI after the lease period. So, nothing as they claim, is being ‘Sold Out!” he said on Twitter.

Congress leader Rahul Gandhi had on Monday attacked the government over reports that it plans to sell its residual stake in the already privatised Delhi, Mumbai, Bengaluru and Hyderabad airports, alleging that such privatisation hurts the public and benefits only a handful of cronies.

“These two airports have generated 29,000 crore till 31 Dec 2020. Even after the stake sale, @AAI_Official will continue to receive this share which will be used to develop aviation infrastructure,” Mr. Puri said.

Privatisation is a means of raising resources to fulfil the aspirations of citizens without imposing new taxes, the Minister stated.

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