In the cabinet meeting chaired by Prime Minister Narendra Modi, airport privatisation has been approved by the union cabinet.
The cabinet has decided to lease Jaipur, Guwahati and Thiruvananthapuram airports under PPP model. These airports will be given on lease for 50 years. Giving information about the cabinet decisions, Union Minister Prakash Javadekar said that it will get Rs 1070 crore. The Airport Authority of India will use this money to build airports in small cities.
The central government last year privatized airports at Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati for operation, management and development under the Public-Private Partnership (PPP) model.