Financial Daily from THE HINDU group of publications
Saturday, Jul 20, 2002
Financial Daily from THE HINDU group of publications Saturday, Jul 20, 2002 |
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Airlines Private investment in metro airports to get protection Our Bureau
NEW DELHI, July 19 THE Government will ensure that private sector investments coming into the four metro airports of Delhi, Mumbai, Kolkata and Chennai will get some form of protection from other new airports which may come up in their vicinity, the Secretary Civil Aviation, Mr K. Roy Paul, said on Friday. "There has to be correlation between points of saturation of existing and new airports," Mr Roy Paul said while addressing an international conference on `Aviation 2002: strategies for development' organised by the Confederation of Indian Industry (CII). Commenting on the leasing process, he said the airports at the four metros would be given on a 30-year lease. "However, there will be a rollover period, with conditions, when the 30-year period gets over," the Secretary said, adding that the idea of leasing the four metro airports was "not to make lots of money" but to create world-class airports and infrastructure. On airport leasing, he said one of the problems faced by the Government was the word leasing does not find mention in the Company Law of the country. He said that air traffic control and security issues would remain with the Airports Authority of India (AAI) even after the leasing process was completed. "There is no real difference between lease and forming joint ventures. It is just a question of semantic." He expressed confidence that the leasing process would be completed before the end of the current financial year as had been indicated by the former Union Finance Minister, Mr Yashwant Sinha. Apart from leasing of the four metro airports and green field airport projects at Hyderabad and Bangalore, the Government is also developing second-level airports at Ahmedabad, Lucknow and Thiruvananthapuram. "The Government does not necessarily have to follow the leasing route for development of the second level airports. We will like to develop these airports as model airports with modern facilities," the Secretary said.
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