The Public Private Partnership Appraisal Committee (PPPAC), chaired by Anuradha Thakur, Secretary of the Department of Economic Affairs (DEA), has approved the third round of privatization of 11 airports across 5 airport bundles.
The total investment by the private concessionaires to take over the operations of these airports is estimated at ₹8,622 crore.
Under the PPP model, these airports will be leased for a concession period of 50 years.
The private concessionaires are required to retain 60% of the employees of the Airports Authority of India (AAI) for a maximum period of 3 years.