Sunday, October 20, 2019

AAI planning to monetise 759 acre of land near 8 major airports

The AAI is planning to monetise 759 acres of land near eight major airports so that private companies are able to establish warehouses, hotels or restaurants, and the money generated is utilised to develop airport infrastructure, a senior official said.
"The AAI has identified the following land parcels of airports for city side development: 145 acres near Kolkata airport, 45 acres near Amritsar airport, Bhubaneswar airport, 35 acres near Jaipur airport, 60 acres near Varanasi airport, 217 acres near Lucknow airport, 80 acres near Raipur airport and 117 acres near Tirpuati airport," a senior AAI official told PTI.
"All the above land parcels are located at respective airport sites only...The non-traffic revenue thus generated (from land monetisation) shall be utilised for the airport infrastructure development in unconnected and under-served areas" the official clarified.
The Airports Authority of India (AAI), which works under the Ministry of Civil Aviation, owns and manages 129 airports across the country, out of which 94 were running in loss in the financial year 2017-18.
"The (aforementioned) land is likely to be leased to any company or organisation for a period of 25-30 years for a fixed annual rental income," the official said.
The revenue generated from such land monetisation is classified as non-aeronautical revenues or non-traffic revenues.
20/10/19 PTI/Economic Times

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