Airports Authority of India IPO coming soon

For raising funds to build new airports

The Indian government reportedly plans to corporatise the Airports Authority of India (AAI) by March 2010 and eventually list it on bourses.

The proposed initial public offer, coming at a time when airport revenues have been falling due to reduced aircraft movement, would help the organization raise funds to build new airports

Civil aviation minister Praful Patel said on Tuesday, 4 August 2009 that by converting AAI into a company and listing it, the government would be able to raise more funds.

AAI owns and manages 125 airports across the country and has been seeking as much as Rs 12,000 crore during the 11th Five Year Plan to modernise and develop 34 non-metro airports.