Airport Authority of India (AAI), the country largest airport operator and manager, has been granted the status of Miniratna Category-I, thereby paving way for exercise of enhanced powers in matters of joint ventures and capital investment.
"AAI fulfills the criteria laid down for grant of Miniratna Category-I status relating to continuous profit for last three years and positive networth," an official statement said today.
The state-owned body will, however, be able to exercise its miniratna powers only after its board is restructured with the induction of at least three non-official directors.
As per the information available on its official website, the AAI manages 126 airports, including 11 international airports and 26 civil enclaves at defence airfields. It also provides Air Traffic Management Services over entire Indian air space and the adjoining oceanic areas with ground installations at all airports and 25 other locations to ensure safety of aircraft operations.
The Authority was formed in April 1995 by merging the International Airports Authority of India and the National Airports Authority with a view to accelerate the integrated development, expansion and modernisation of the operational, terminal and cargo facilities at the airports in the country.
