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Airnetz forays into airport infra development

Business

Aviation Services Provider Airnetz Aviation has forayed into development of alternative and rural airports to decongest country’s metro airports. Airnetz will raise and invest more than US$50 million (around Rs. 250 crores) in development of already existing airstrips and new airports in the radius of 200-250 Kms from congested metro cities like Mumbai, Delhi and Chennai. Airnetz will undertake these projects on build-operate-transfer model.
“There are over 300 airports in India with paved runways and only about 30 of them are utilised for commercial operations. Especially with airports like Mumbai getting highly congested and Pune and Goa being military airports with limited accessibility, there is a huge need for alternative airfields within 200 kms from these cities. ” said Atul Khekade, Chairman of Airnetz Aviation.
Airnetz has already signed an MOU with an area approx. 80 kms from New Mumbai which can be used to develop a private airstrip to provide alternative airport to passengers traveling to Mumbai and Pune. Further, Airnetz is all set to begin bidding process for already existing airstrips owned by Ministry of civil aviation lying in the distance of 200 Kms from metro airports. These airstrips are only used by politicians during election campaigning and occasionally by corporate bodies.
“Many of these airstrips do not have facilities such as night landing, ATC, refueling and maintenance and if developed, they can provide alternative and cost effective infrastructure for civil aviation, cargo and even private jets.” said Omkar Mestry, COO of Airnetz Aviation.
“Indian metro cities are growing to the next level to match the world’s leading cities such as New York and London. Both New York and London have 3 alternate airports which de-congest the aviation traffic emerging from immense number of travelers. Sooner or later all prime metro cities in India are going to need alternate airports which can relieve traffic for them.”
Recent financial policy for boosting aviation infrastructure allows 100% FDI in airports development and up to 100% tax exemption for 10 years.
Airnetz is headquartered in Mumbai with offices in US and UK. Airnetz is a part of $50 million Netz Capital group with interests in real estate, technology and aviation.

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