Nirmala Sitharaman announces easing of restrictions on utilisation of air space
Union finance minister Nirmala Sitharaman on Saturday announced reforms for the aviation sector, saying restrictions on the utilisation of Indian air space will be eased so that civilian flying becomes more efficient.
The availability of more air space available would reduce travel time and save fuel, she said.
It will bring a total benefit of Rs 1,000 crore per year for efficient air space management, Nirmala Sitharaman announced during a press conference.
The Airports Authority of India (AAI) will get Rs 2300 crore downpayment, she added.
She said AAI has awarded three airports out of six bid for operation and maintenance on a public-private partnership (PPP) basis. An additional investment by private players in 12 airports in first and second rounds is expected around Rs 13,000 crore, she added.
