Privatisation of national carrier Air India will not happen immediately, but cannot be ruled out in future, the civil aviation minister said
State-owned Airports Authority of India (AAI) and national helicopter company Pawan Hans will be listed on the stock exchanges to improve transparency and efficiency, Civil Aviation Minister Ashok Gajapathi Raju said on Monday.
The Minister also said that privatisation of national carrier Air India will not happen immediately, but cannot be ruled out in future and there have been suggestions from various quarters in this regard.
Proposals for listing of AAI and Pawan Hans have been made in the Draft Civil Aviation Policy, released by Raju.
Raju said that an expert committee will be constituted to develop the future roadmap for Air India.
"It is essential to ensure that the national carrier achieves its full potential," the Minister said, while adding that a Mission Mode project will also be set up to ensure that all organisations under the Ministry are competitive in terms of cost and efficiency.
"AAI will be corporatised followed by its listing on the stock exchanges to improve efficiency and transparency," Raju said, adding that listing of Pawan Hans would also be undertaken with the same objective.
AAI, a miniratna public sector enterprise, manages 125 airports across the country, including 11 International, 81 domestic and eight Customs Airports. It also manages 25 Civil Enclaves at Defence Airfields.
It has entered into joint ventures at Mumbai, Delhi, Hyderabad, Bengaluru and Nagpur Airports to upgrade them.
AAI also provides air traffic management services over entire Indian Air Space and adjoining oceanic areas with ground installations at airports and other locations.
Pawan Hans was incorporated in 1985 and presently its shareholding comprises 51% with the Indian government and 49% with state-run ONGC.
It was incorporated with the primary objective of providing helicopter support services to the oil sector for its off-shore exploration operations, services in remote and hilly areas and charter services for promotion of tourism.
Over the years, it has grown into one of Asia's largest helicopter companies and has a fleet of 47 helicopters.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
