AAI gets government nod to borrow Rs 94.3 billion till 2021-22

The Airports Authority of India (AAI) has received approval from the government, after a delay of almost six months, to borrow Rs 94.3 billion over a period of four years from 2018-19 to 2021-22. AAI had planned to borrow Rs 15 billion from a consortium of banks including the State Bank of India (SBI) during 2018-19, but the plan did not materialise as the bidding time lapsed by the time the Ministry of Civil Aviation granted its approval. Therefore, the ministry has now finally decided to approve a lump sum borrowing for AAI.