This tie-up is likely to set the pace among prospective bidders - both domestic and international - to form consortia to take over these two airports in joint ventures with the Airports Authority of India (AAI).

A number of other Indian players, including L&T, the Sahara Group, GMR Infrastructure and the Tatas, are also looking at forming consortia. Interested Companies are expected to submit an expression of interest (EoI) with their consortium details before June 4, by which time a new government is expected to be in place to speed up the much-delayed privatisation process.

Even Reliance and the AV Birla Group are said to be interested in diversifying into airports. The government is open to the idea of several partners forming a consortium, which will then enter into a joint venture with AAI, but is keen to see at least one airport operator among the partners.

The international players interested in the project include Schiphol Group of Netherlands, Aeroports de Paris (ADP) Group of France, British Airports Authority of UK, Frankfurt airport and Malaysia Airport Berhad.