Union Cabinet nod to leasing out 3 airports under AAI

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The Union Cabinet, chaired by Prime Minister NarendraModi, on Wednesday approved the proposal for leasing out Ahmedabad, Lucknow and Mangaluru airports of the Airports Authority of India (AAI), through the public-private partnership mode.

The airports would be leased out to the highest bidder and that it would increase their annual profit 10-fold, Union Minister Prakash Javdekar told media in a briefing after the cabinet meeting.