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Industry News
Airports Authority of India gets Miniratna status
Posted On : 2008-12-19 01:09:49( TIMEZONE : IST )
The Airport Authority of India (AAI) has been granted the status of Miniratna Category-I. This was conveyed by the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises on 17 December, 2008 to the Ministry of Civil Aviation.
AAI fulfills the criteria laid down for grant of Miniratna Category-I status relating to continuous profit for last three years and positive networth.
The AAI has been provided with budgetary support only to implement Government sponsored projects of national interest and Government sponsored Research and Development projects which do not disqualify it from the status. However, in such projects, investment decision will be taken by the Government and not by AAI.
The AAI will be able to exercise its Miniratna powers after its Board is restructured by induction of at least three non-official Directors on the Board of AAI.
