New Delhi: Airports Authority of India, would be turned into a company by amending laws to enable the body raise funds from market for carrying out modernisation of a large number of major airports across the country, Civil Aviation Minister Praful Patel said on Tuesday.
"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)," he told reporters in New Delhi.
This, he said, would be carried out by amending the AAI Act that governs the airports' body to "help them in their financial future".
"Funding will become easier if it becomes a company," Patel said. The amendment would be placed before Parliament "latest by March 2010".
Replying to a spate of questions he said, private infrastructure firms, including those involved in airport modernisation, were listed companies and had good standing in the market.
The AAI is currently modernising major airports in Kolkata and Chennai and 35 non-metro airports. It has huge properties including land and other assets across the country.
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