Privatisation of state-run airports has decreased the capital expenditure requirements and borrowing needs for state-run airport operator, Airports Authority of India (AAI), and the organisation is now tweaking its borrowing roadmap taking into account the income from the newly privatised airports.
In an exclusive interaction, AAI chairman Guruprasad Mohapatra, who will take charge as secretary, Department for promoters of Industry and Internal Trade from August 1, said that more airports are in the pipeline for privatisation.
Privatisation of six airports is seen as the most important development at Airports Authority of India in the recent past. Is the government looking at privatising more airports?
Privatisation has not been attempted for the first time. Earlier also, the airports of Delhi and Mumbai were privatised by the AAI and the ministry. But, this time the decision of the Union Cabinet was to go for disinvestment of six airports. So many Airports at one go and that too without losing any time was a big challenge for us. I am very happy that we did it in a record time, probably the fastest privatisation in independent India's history because of strong teamwork at AAI, strong support from ministry and Union Cabinet which endorsed those decisions.
It is a matter of happiness for us that the first privatisation where eight to nine bids were received and at quite good prices. Everything has been done on merit and there have been no controversies that are typical in this sort of massive exercise. It has been very satisfying.
For three airports, the Cabinet has approved the bids, letter of award has been given and their (Adani Group) acceptance has come. Now they have to obtain security clearance and there are a lot of processes thereafter. Two more, Jaipur and Guwahati are under consideration of the ministry for Cabinet approval. Trivandrum is also under consideration of the ministry.
27/07/19 Anu Sharma/CNBC TV18
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In an exclusive interaction, AAI chairman Guruprasad Mohapatra, who will take charge as secretary, Department for promoters of Industry and Internal Trade from August 1, said that more airports are in the pipeline for privatisation.
Privatisation of six airports is seen as the most important development at Airports Authority of India in the recent past. Is the government looking at privatising more airports?
Privatisation has not been attempted for the first time. Earlier also, the airports of Delhi and Mumbai were privatised by the AAI and the ministry. But, this time the decision of the Union Cabinet was to go for disinvestment of six airports. So many Airports at one go and that too without losing any time was a big challenge for us. I am very happy that we did it in a record time, probably the fastest privatisation in independent India's history because of strong teamwork at AAI, strong support from ministry and Union Cabinet which endorsed those decisions.
It is a matter of happiness for us that the first privatisation where eight to nine bids were received and at quite good prices. Everything has been done on merit and there have been no controversies that are typical in this sort of massive exercise. It has been very satisfying.
For three airports, the Cabinet has approved the bids, letter of award has been given and their (Adani Group) acceptance has come. Now they have to obtain security clearance and there are a lot of processes thereafter. Two more, Jaipur and Guwahati are under consideration of the ministry for Cabinet approval. Trivandrum is also under consideration of the ministry.
27/07/19 Anu Sharma/CNBC TV18
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