business ✈️ 11 Indian airports going private with PPP model
The government plans to hand over eleven airports, including Varanasi and Tirupati, to private players via a public-private-partnership model. The Civil Aviation Ministry proposed grouping these airports into five bundles for single concessionaires. The PPPAC gave in-principle approval on August 4, with a 50-year concession period planned for the lease. Concessionaires are expected to invest an estimated Rs 8,622 crore in these operations. A one-year joint management period and retaining 60% of AAI employees are key terms of the proposal. ✈️