Govt likely to allow AAI to raise funds: Praful Patel
The Government is likely to allow state-owned Airports Authority of India to raise Rs 5,000 crore through infrastructure bonds. The money would enable it to finance its ongoing programme to modernize and expand a large number of airports across the country.
"They are free to raise resources whichever way they want to. Airports are a vital infrastructure. (The) Government will definitely consider the proposal," Civil Aviation Minister Praful Patel told media in New Delhi.
He also confirmed that the AAI was considering raising Rs 5,000 crore through this measure.
Air India would also get equity infusion from the government and "we will also try to get some soft loan" for the national carrier, he said.
It would eventually go for an Initial Public Offer (IPO) depending on the market situation, said Patel, who made a record of sorts by taking over charge of the Ministry for the second consecutive five-year term
Patel also made it clear that Air India would not be privatised and any equity dilution would not affect its public sector status.
MORE RELATED NEWS
TOP STORIES
POLL
Do you think that Anna Hazare's Jan Lokpal bill will be able to contain rampant corruption in India?
