Pvt managements take over Delhi, city airports

New Delhi: Opening a new chapter in the history of Indian civil aviation, the Delhi and Mumbai airports have been handed over to private sector managements. The operations, maintenance and development agreement (OMDA) for the two airports have been implemented with effect from the midnight of May 2.
Officials said all operations from the early morning of May 3 are being carried out by the joint venture companies formed for corporatisation of the two airports. Till the takeover by the private sector managements, the Airports Authority of India (AAI) was managing the Delhi and Mumbai airports.
While all revenue accruing after May 2 midnight will go into the account of the joint ventures. They would also be responsible for liabilities from the time of transition, said Jatin Aneja, partner with Amarchand Mangaldas, the legal consultant to the airport modernisation process.
For practical purposes, the management would be run jointly for a period of three months. The ‘hand-holding’ process would help the joint venture to avoid teething troubles. GMR-Fraport consortium is the private sector partner for the Delhi airport joint venture while the GVK-South African Airports team is the partner for the Mumbai airport.
03/05/06 Economic Times

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