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Ownership
and Management 1.
The Constitution of India refers to civil aviation
as a subject in the Central List and is therefore within the legislative
competence of Parliament. The Aircraft Rules, 1937 permit airports
other than Government airports to be owned by citizens of 2.
What is needed now, in view of the worldwide thrust
towards corporatization and privatization of airports, is a strategy
that permits utmost latitude in the patterns of ownership and management
of airports in the country. Thus, airports may be owned by the Central
Government, PSUs, State Governments, Urban local bodies, private
companies and individuals, as also by joint ventures involving one
or more of the above. Similarly, it would be best to keep all the
options open in respect of the management of airports or parts of
airports. These could be on Build-Own-Transfer (BOT), Build-Own-Lease-Transfer
(BOLT), Build-Own-Operate (BOO), Lease-Develop-Operate (LDO), Joint
Venture, Management Contract or Wrap-around Addition basis. In each
individual case, the exact pattern could be negotiated, depending
on the circumstances. 3.
In the case of high-cost projects involving international
hubs, Government may seek international or bilateral cooperation
with countries having the requisite expertise and financial strength.
The actual implementation of the projects would be entrusted to
consortia interested in turnkey execution on a joint venture basis. 4.
Foreign equity participation in such ventures may
be permitted up to 74% with automatic approvals, and up to 100%
with special permission. Such participation could also be by foreign
airport authorities. 5. It may be clarified that the normal procedures of licensing of airports by the DGCA would continue to apply in accordance with the laid down regulations.
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