In a move that could attract bidders to the proposed Navi Mumbai International Airport (NMIA), the Union civil aviation ministry has approved a “shared till” approach for it on the lines of Delhi and Mumbai airports.
A shared till means the operator is allowed to retain a percentage of non-aeronautical revenues (money from retail shops/concessions in terminal building, parking charges) from the airport. As this and enhances long-term project viability, it is attractive for private players.
City and Industrial Development Corporation (Cidco) joint managing director V Radha said, “The approval, which has come after the intervention of the chief minister, is set to woo more bidders as it makes the project financially viable. Now, the bidding process will become smoother.”
The first phase of the airport, which is expected to be operational by 2018, is expected to cater to 10 million passengers a year.