Dharwad: Union Civil Aviation Minister has identified 25 airports in the country under the Authority of the Indian Airport (AAI) to monetize under the National Monetization Pipes (MNP) and Hubballi Airport are on the list.
Details have been placed on the Ayog Niti website.
Applicable monetization means submitting the airport registered with the private sector.
The Airports of the Union said monetization was proposed to be carried out in four phases between 2022 and 2025.
It was intended to increase financial resources for infrastructure development.
Greater purpose is to focus on monetization of 25 airports, while small airport bundling can be explored based on market testing transactions and investor feedback, Niti Ayog said and added that the overall capital expenditure was rated by Rs 20,782 Crore.
Hubballi Airport is the only airport from Karnataka on the list.
This proposal is to privatize in the third phase – 2023-2024.
Airports in Chennai, Vijayawada, Tirupati, Vadodara and Bhopal must be privatized during the same year.
The airline expects revenue from Rs 4,193 Crore from Hubballi Airport Ministry hopes that RS 130 Crore’s capital expenditure.
This is the third largest airport in the state with the increasing number of flights and passengers under the scheme of Udan.
However, the central step has attracted criticism.
“The Union Government has begun to privatize the train, BSNL, Indian life insurance company and now the airport.
It will be a step against the public interest because private operators who come with profit motives will exploit end users.” Said Ramanjanappa Aldalli, President of the Socialist District Unity Center of India (Communists).
The airline has stated that to ensure the development of unfavorable airports commensions along with airports that are profitable with the help of investment and private sector participation, pair / clubbandandan the airport is smaller with each of the six larger airports and running as a package is being explored .
Furthermore, the Divestment of AAI residual shares in four airport joint ventures has also been considered under monetization pipes.
This includes the airport operated private sector in Mumbai (26% of the shares), Delhi (26%), Hyderabad (13%), and Bengaluru (13%).