Hemant Sahai, the managing partner of Hemant Sahai Associates, provides a rare inside look at the evolution of the legal framework for privatizing India’s airports
How do you create a legal, regulatory and contractual framework that will bring about private sector investment for modernizing a country’s strategic public assets? This was the government’s challenge in the early 2000s when India embarked on an ambitious programme to modernize its airports, beginning with the privatization of the Delhi and Mumbai airports.
Until then, the development and operation of all airports in India was reserved for the public sector, with all commercial airports being controlled by the Airports Authority of India (AAI).
The legal framework consisted of the Airports Authority Act, 1994, and the Aircraft Act, 1934. When the former was amended in 2003 to include the concept of a private airport, a new section – section 12A – was inserted to facilitate the delegation of the statutory functions of the AAI and the lease of airport land to private operators.
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Hemant Sahai can be contacted at Hemant Sahai Associates, Advocates, 81/1, Adchini, Sri Aurobindo Marg, New Delhi – 110 017, India. Email: hemant@sahailaw.com.
