The Australian Government has received more than 75 applications for the sale of 15 regional airports.
Finance Minister John Fahey said the large number of applications, made under the first stage of the sale process, would ensure a 'competitive bidding stage'.
'The airports have attracted significant interest from local and international investors, indicating they are considered quality investments by the private sector,' he said.
The sales are expected to bring in about A$400 million (HK$2.14 billion) and follows the sale of the Brisbane, Melbourne and Perth airports this year for A$3.34 billion.
A shortlist of bidders is expected to be announced in a few weeks, with final bids to be lodged by February of next year.
At the completion of the second phase of the sell-off, only Sydney international airport and three general aviation airports in the city will remain under government control.