 "Airline, airport story, duty free")
India’s state-owned airport agency, Airports Authority of India (AAI), is likely to issue bonds to finance airport projects. Estimates suggest that airport projects will require more than Rs 20,000-crore investment over the next five years. The expenditure will primarily be meant to build seven greenfield airports and step up the capacity of terminals and runways at 46 existing airports.
“We have planned a massive capital expenditure for upgrading our airport infrastructure. We are preparing to issue bonds by tapping the capital market,” Guruprasad Mohapatra, chairman, AAI, told Business Standard.
While Mohapatra did not specify the amount that AAI is planning
