• AAI can monetise 2000-3000 acres of its land, says Ashok Gajapathi Raju

    Civil Aviation minister Ashok Gajapathi Raju on Thursday said the national airports operator AAI could monetise around 2000-3000 acres of its land and utilise the funds raised in airport infrastructure development. Under the current norms, airport land could be used only for limited purposes. Raju’s comments came a day after Finance Minister Arun Jaitley announced in the 2017-18 Union Budget that “the AAI Act will be amended to allow monetisation of land assets owned by AAI.”
    “AAI can easily monetise 2000-3000 acres of land… The amount (raised) from this should contribute to infrastructure (development),” Raju said.
    He also said the move to monetise the land assets of the Airports Authority of India (AAI) would benefit the fliers as well.
    AAI owns around 55,000 hectares of land in urban areas across the country.
    Significantly, the AAI chairman too had last year said the authority would focus on monetisation of its huge chunk of land on the city side across airports in the country as part of AAI’s larger efforts to enhance non-aeronautical revenues.
    AAI’s non-aeronautical revenue currently account for around 19 per cent of its annual top line.
    Asserting that the government’s ambitious regional connectivity scheme UDAAN was going in the “right” direction, Raju said the first flight under the scheme was likely to take off in March. Jose Iglesias Authentic Jersey

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