Adani Group takes over the airport in Mumbai.

Aerial view of style 2 'peacock' at Terminal 2 at Chhatrapati Shivaji Maharaj International Airport (CSMIA).

New Delhi: Adani Group on Tuesday took over at Mumbai Airport, owning 74% of Mumbai International Airport Limited (MIAL).

GVK Group, which created the "peacock" style of Terminal 2 at Chhatrapati Shivaji Maharaj International Airport (CSMIA), from MIAL and Adani Airport Holdings Ltd (AAHL), a wholly-owned company of Adani Enterprises, received a total share of 50.5% of the share. 23.5% of MIAL owned by two overseas firms.

Airports in India account for the remaining 26%.

AAHL will begin construction of the Navi Mumbai International Airport (NMIA) next month and finalize the financial closure in the next 90 days. The new international airport will be installed in 2024, said a senior infra chief executive.

On Twitter, Adani Group chairman Gautam Adani said: "We are delighted to take over the management of Mumbai International Airport. We promise to make Mumbai proud. The Adani team will build a future health plan for the business, recreation, and leisure. We will create thousands of new local jobs."

Adani Group is now India's largest airline operator with eight airports in its fleet.

While Mumbai is India's second busiest airport, AAHL - "India's largest airport infrastructure company" - now owns about a quarter of India's airport and "now controls 33% of India's air traffic," the company said in a statement.

It took MIAL to the GVK team following a board meeting on Tuesday and after receiving all the necessary permits obtained from the Center and the national government, and the City and Industrial Development Corporation (CIDCO) of Maharashtra.

"Our ultimate goal is to revitalize airports as biodiversity is driven by local economic development and to act as places where we can revitalize aviation-related businesses. These include urban development including entertainment facilities, e-commerce skills and logistics, aerospace industry, intelligent urban development, and other new business ideas," said Gautam Adani.

"Our airport expansion plan is aimed at helping to transform our nation's cities Tier 1 and Tier 2 and Tier 3 cities into the harp and talk model. This is crucial to the common equality of urban and rural divisions in India and smooth and smooth international travel. I believe that airports will increase the economic value of cities, and the cities of the future will be built with the airport as a focus area. This is the basic foundation for modern land development, and the rapid construction of our airport infrastructure will create more employment opportunities that create thousands of new job opportunities," said Adani, one of South Africa's richest men in infra tycoon.

Adani Group is betting heavily on its seven busy airports. The next one in Navi Mumbai and India is expected to become the third-largest aviation market in the world by 2024. This, in turn, is a B2B and B2C Business and to formulate several strategic alternatives for other B2B Group Businesses."

At a 12% annual growth rate, AAHL expects its passenger road allocation to grow from 8 crores on FY 20 to 10 crores on FY 22.

"Under the management of MIAL, AAHL is ready to join the world's leading ten crore airport passengers and passengers and 20 crores a year, introducing a maximum of 30 crores and a platform. Of solid consumers, "the company says.

AAHL has won the authority to operate six AAI airports - Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram - for 50 years. For them, it took Ahmedabad, Lucknow, and Mangaluru last year.

Leave a Reply