The aviation ministry is going to list its profitable PSUs -Airports Authority of India (AAI) and Pawan Hans Helicopters (PHHL) -on stock exchanges next year, while a decision on whether the bleeding Air India is to be privatized is yet to be taken. Aviation minister Ashok Gajapathi Raju recently said AAI and PHHL, the country’s largest airport and helicopter operators, are profitable and “can go straight off (for listing) to improve efficiency and transparency“. The minister said this while releasing the draft civil aviation policy which is expected to be finalized by January .
The air traffic wing or air navigation services (ANS) will be hived off from AAI before the PSU is listed. Senior officials expect the process of listing to take at least six months. AAI officials say the authority will remain profitable even after ATC is hived off as the latter contributes 20 per cent to 25 per cent of its total revenue. The aviation ministry will now begin the process of forming a separate ANS corporation and then approach the department of divestment for listing PHHL and AAI. Elaborating on other features of the upcoming policy , Raju said the 5-20 rule for Indian carriers to fly abroad (meaning they must complete five years in service and have a fleet of at least 20 planes) “will go“.