Govt. rules out AAI privatization

By agencies   |   Thursday, 28 April 2005, 07:00 Hrs
Printer Print Email Email
NEW DELHI: The Government today virtually ruled out privatizing the Airports Authority of India (AAI), the body that looks after all the airports in the Country.

Speaking in Parliament, Civil Aviation minister Praful Patel said the government would rather borrow money and will go for private-public partnership rather than privatizing the board that is strategically important with the security point of view. ''We will go for borrowing, and private-public ventures, but there will be no privatization,'' he said.

He also said that no employees will lose their job in the joint venture undertaken for the modernization of Mumbai and Delhi airports.

''I categorically state that no employees will lose their job. The employees will be on deputation for three years in the joint venture. Thereafter, 40 percent of the employees will have to be employed in the joint venture. The remaining employees will not lose their job,'' he said.

He also said the government was going in for up gradation of 30 airports, besides the six metro airports.

Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..