Government to sell remaining stake in Delhi, Mumbai, Bangalore, Hyderabad airports
Published On: Monday, March 15, 2021 | By: Team KnowMyStock
The aviation ministry is preparing to sell its stakes in companies that operate airports in Delhi, Mumbai, Bengaluru, and Hyderabad, a move that will help achieve the government’s target of raising ₹20,000 crores from monetisation of assets in FY22. The ministry has started the process to fetch approvals, including those from the cabinet, to speed up the sale process. “The aviation ministry has an asset monetisation target of ₹20,000 crores for FY22. While privatisation of airports will contribute to that target, this move could become the largest contributor,” said an official who did not want to be named.
The CGAM meeting was attended by aviation secretary Pradeep Singh Kharola. Emails and messages sent to Kharola remained unanswered. Mails sent to the Department of Investment and Public Asset Management also remained unanswered.
The government, through the Airports Authority of India (AAI), owns 26% each in Delhi and Mumbai airports, and 13% each in Bengaluru and Hyderabad airports. Sources added that the move will not impact the revenue share arrangement that AAI has with Delhi and Mumbai airports, and 13% each in Bengaluru and Hyderabad airports. Sources added that the move will not impact the revenue share arrangement that AAI has with Delhi and Mumbai airports.
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