Adani Group took over management control of the Mumbai International Airport todayBillionaire Gautam Adani-led Adani Airport Holdings took over the management control of the Mumbai International Airport from the GVK group to become the country's largest airport infrastructure company.
With the current take over, Adani Airport Holdings Limited - a wholly-owned subsidiary of the multinational conglomerate Adani Enterprises Limited, now accounts for 25 per cent of airport footfalls, having a total of eight airports in its management and development portfolio,and will also have control of 33 per cent of the country's air cargo traffic.
(Also Read:"Twisted Narrative": Gautam Adani On What Led To Last Month's Stock Crash)This comes after the Mumbai International Airport Limited's board meeting held earlier today and followsapprovals received from the central government, Maharashtra government, as well as the City and Industrial Development Corporation (CIDCO) of Maharashtra, according to a statement shared by the Adani Group.The addition of the country's second busiest airport by both passenger and cargo traffic to the Adani Group's portfolio and theoperationalization of the greenfield Navi Mumbai International Airport Limited will enablethe infrastructure conglomerate to interlink its B2B and B2C business.The Adani Groupwill begin the construction of the Navi Mumbai International Airport next month and complete the financial closure in the next 90 days, and the airport will be commissioned in 2024."Our airport expansion strategy is intended to help converge our nation's tier 1 cities with the tier 2 and tier 3 cities in a hub and spoke model.
This is fundamental to enabling a greater equalization of India's urbanrural divide, as well as making international travel seamless and smooth,'' said Mr Gautam Adani, Chairman, Adani Group.Adani Aiport Holdings, which took over the operations of Lucknow, Ahmedabad, and Mangaluru airport in 2020, aims todevelop next-generation airport-centric ecosystems to catalyse the aviation-linked businesses.It won the mandate to operate and modernise six airports-Lucknow,Ahmedabad, Mangaluru, Guwahati,Jaipur, and Thiruvananthapuram,for a period of 50 years through a globally competitive tendering process conducted by the Airports Authority of India.