• Kyodo

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The deeply indebted public entity concurrently running two airports in the Kansai area might set a minimum bid of over ¥2 trillion when it puts the rights to operate the facilities up for sale, sources familiar with the matter said Sunday.

The money will allow New Kansai International Airport Co., which runs Kansai International Airport and Osaka International Airport, to pay off about ¥1.2 trillion in debt, the sources said.

The company plans to announce the bidding rules and schedule in July. It initially wanted to transfer management of the airports to the private sector in April 2015, but has delayed the move until late 2015, given the preparation time needed, which includes coordinating with the central government, the sources said.

Several companies are expected to bid by forming consortia. Trading houses, property developers and some foreign firms have shown interest in acquiring the operational rights, according to the sources.

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