NEW DELHI: Cabinet on Wednesday approved the proposal for leasing out three airports – Jaipur, Guwahati and Thiruvananthapuram – of Airports Authority of India through Public Private Partnership (PPP).
In a press conference here, Union Minister Prakash Javadekar said, the Cabinet, chaired by Prime Minister Narendra Modi, approved leasing out three airports of the Airports Authority of India, which comes under the Ministry of Civil Aviation, through Public Private Partnership and the AAI will earn around Rs 1,070 crore from this.
Also, the facilities available to the passengers will improve from the decision, he said. Mr Javadekar informed that the right to operate, manage, maintain and develop these airports on lease on the basis of Public Public Participation (PPP) will be entrusted to private companies.
The lease will be for 50 years, he said. Currently, these three airports are operated by the AAI. (agencies)