AAI to become a company to ensure flow of funds

New Delhi, Aug 5: Amid the turbulence in the Aviation Industry due to the lack of funds, the Aviation Minister, Praful Patel on Tuesday, Aug 4 said that the Airports Authority of India (AAI), would be turned into a company in ensure flow of funds from the markets.

Saying that the required laws would be amended to make the change in AAI, the minister said the with the funds thus acquired the authority would be able to take steps into modernisation of major airports across the country.

"We are looking at corporatising the AAI, turning it into a company from an authority which it is now. Our objective is to list AAI (in the stock market)," Mr Patel said.

The propose amended in the AAI Act would be placed before the Parliament 'latest by March 2010', he said.

Reasoning that this step is being taken to 'help them in their financial future', the minister said, "Funding will become easier if it becomes a company."

OneIndia News