AAI to be allowed to monetise its 50,000 acres land bank

By | February 2, 2017

In a move that will make flying out of airports cheaper from Airports Authority of India (AAI) airports, the finance minister today announced changed in rules to allow monetisation of land assets owned by the state-owned airport operator.

AAI owns over 55, 686 acres of land in and around its airports across the country and is likely to start the process of monetising about 10% of the land owned (about 5,500 acres).

AAI welcomed the announcement. “This announcement in the Budget is a welcome news for us. Change in the act will allow us to lease out land for various other purposes like shopping malls and convention halls and help us increase our non-aeronautical revenues,” AAI Chairman G P Mohapatra told ET.

Source: Economic Times