AAI spends Rs 17,784 cr in last 5 years to renovate airports

V K Singh, Minister of State for Civil Aviation, told the media on Friday that the Airports Authority of India (AAI) has spent around Rs 17,784 crore during the past five years renovating or building airports across the country. Singh mentioned in a written reply to Rajya Sabha that the central government has granted in-principle sanction to two greenfield airports -- Hollongi in Arunachal Pradesh and Jewar in Uttar Pradesh -- during the past three years. He mentioned that an amount of around Rs 17,784 crore had been spent by the AAI in renovating/building airports during the past five years. Recently, the AAI has awarded six airports. They are Jaipur in Rajasthan, Guwahati in Assam, Mangalore in Karnataka, Ahmedabad in Gujarat, Lucknow in Uttar Pradesh, and Thiruvananthapuram in Kerala for Operations, Management and Development under Public-Private Partnership (PPP) for 50 years. AAI will be getting back their expenditure to the tune of Rs. 2299 Cr in these six airports. It will also be getting the Per Passenger Fee, indexed to the Consumer Price Index (CPI), from the PPP Partner. The estimated net benefits accumulating over time to AAI post PPP are more than the net benefits that AAI would have got if it had operated the six airports on its own. AAI is not needed to acquire any CAPEX and OPEX at these airports during the period of the lease. Image Source Also read: Kempegowda Airport to get $2.2 bn investment for infra Also read: Rs 2,890 cr budget for Jewar airport phase 2