AAI to raise Rs 1,200 cr by FY'10-end

Battling a resource crunch, the Airports Authority of India is in the process of raising Rs 1,200 crore by the end of this financial year to meet its financial requirements for developing airports across the country.
While its proposal to raise Rs 5,000 crore through tax- free infrastructure bonds has not found favour with the government, the state-owned airports operator plans to borrow Rs 2,000 crore to meet its requirements for funds, official sources said.
Till last September, the Airports Authority of India (AAI) had raised short-term loans amounting to Rs 380 crore, they said, adding that Rs 1,200 crore more will be raised by March-end.
Though the AAI manages about 125 airports across the country, only 15 of them have been making profits, they said, adding that major domestic airlines owed Rs 277.55 crore as user charges to the AAI till October 2009.
17/01/10 Times of India

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Categories: Airports Jan 2010