Reliance Infrastructure drops plans to sell stakes in airports

Company says debt will be negligible by March 2018

Reliance Infrastructure has dropped plans to sell five airports in its portfolio although it plans to sell other assets to become almost debt free by March 2018. 

The Anil Ambani-promoted company had invested Rs 100 crore in five airport projects in Maharashtra through its subsidiary Reliance Airport Developers. It was earlier planning to sell these airports. 

“It is too small an investment. We have no plans (for a sale) as of now,” said Lalit Jalan, chief executive officer, Reliance Infrastructure, which operates regional airports at Nanded, Yavatmal, Baramati, Latur and Osmanabad. 

The company acquired the rights to develop and operate