The Government of India has notified the Parliament that the Adani Group has been given three months of time to take over airports at Jaipur, Guwahati and Thiruvananthapuram.
In December 2020, the Airports Authority of India (AAI), which maintains the country’s civil aviation infrastructure, finalised the deal to hand over Jaipur (JAI), Guwahati (GAU) and Thiruvananthapuram (TRV) airports to Adani Group in July 2021.
However, Adani Group asked for a six-month extension, citing force majeure factors created due to the Covid-19 pandemic.
Adani Group secured bids to operate six AAI airports for 50 years on a purchasing power parity (PPP) basis.
India Civil Aviation Minister Jyotiraditya Scindia said that the three AAI operated airports are yet to be handed over to the Adani Group, however, the airports in Mangaluru, Ahmedabad and Lucknow have been handed over to the conglomerate in October and November 2020.
The minister further added that all the revenues generated by these three airports will be received by AAI until the airports are officially handed over to the company.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
With the addition of MIAL, which is said to be India’s second busiest airport, AAHL will now control nearly 33% of the country’s air cargo traffic.
In February, Adani Group acquired a 23.5% interest in MIAL from two South African firms, Bidvest and Airport Company of South Africa.