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August 6, 2021

Adani Group gets three months to take over three Indian airports

Adani Group required a six-month extension due to force majeure factors created by the coronavirus pandemic.

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.

Last month, Adani Enterprises unit Adani Airport Holdings Ltd (AAHL) took over the management control of Mumbai International Airport Limited (MIAL) from the GVK Group.

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.

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