New Delhi, Nov 10: Civil Aviation Minister Ashok Gajapathi Raju on Monday said that 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.
The minister said that there are suggestions from various quarters for privatization of national carrier Air India, adding that it will not happen immediately, but cannot be ruled out in future.
Raju said that proposals for listing of AAI and Pawan Hans have been made in the draft civil aviation policy, which he released here on Monday.
Saying that an expert committee will be constituted to develop the future roadmap for Air India, the Minister said: “It is essential to ensure that the national carrier achieves its full potential.”
“A mission mode project will also be set up to ensure that all organizations under the ministry are competitive in terms of cost and efficiency,” the minister added.
“AAI will be corporatized followed by its listing on the stock exchanges to improve efficiency and transparency,” Raju told a news agency and added that listing of Pawan Hans would also be undertaken with the same objective.
The AAI manages 125 airports across the country, including 11 International, 81 domestic and eight Customs Airports, besides managing 25 civil enclaves at Defence Airfields.
Pawan Hans Ltd was incorporated in 1985 and presently its shareholding comprises 51 per cent with the Government of India and 49 per cent with state-run ONGC.
Over the years, Pawan Hans has grown into one of Asia’s largest helicopter company and has a fleet of 47 helicopters.
(With Agency Inputs)