Adani is the highest bidder for 5 airports

Why in news?

• Adani Enterprises Ltd. emerged as the highest bidder for five of the six airports offered for bidding by the Airports Authority of India (AAI).
• The winner would operate, manage and develope the airports for a period of 50 years. The Cabinet has to accord its approval for the same.
• Adani Enterprises was among the 10 companies which had submitted a total of 32 bids for the six airports. One of the bidders didn’t make it to the final round because of an error in its submission.
• Bids were invited on the basis of per-passenger fee for passengers handled at the airport.

Background: –

• The government has made some headway in partial privatisation of some of its airports after altering the revenue model from a percentage of gross revenue to be given by the concessionaire to per-passenger fee.
• In 2015, the AAI invited bids for complete privatisation of Kolkata, Chennai, Ahmedabad and Jaipur airports but aborted the process.

(National)(the hiindu)

Pic courtesy:BloombergQuint