New Delhi, Aug. 24 -- The Public Private Partnership Appraisal Committee (PPPAC) has granted in-principle approval for the privatisation of operations, management and development of 11 airports, proposed to be offered to private players in five airport bundles, according to official sources.

The decision was taken at the meeting of the PPPAC held this month, where the Ministry of Civil Aviation presented five project proposals involving 11 airports.

Under the proposed model, the airports will be bundled in pairs or groups, with each bundle to be awarded to a single concessionaire for a 50 year concession period. According to sources, the government has proposed the bundling model with the objective of improving the financial viability o...