GVK Group, which has constructed “peacock” style Terminal 2 at Chhatrapati Shivaji Maharaj International Airport (CSMIA), has exited MIAL with Adani Airport Holdings Limited (AAHL), a wholly owned subsidiary of Adani Enterprises, with its entire 50.5%. share has been acquired. Two foreign firms hold 23.5 per cent stake in MIAL.
airport authority The remaining 26% is with India.
AAHL will start the construction of Navi Mumbai International Airport (NMIA) next month and complete the financial closure in the next 90 days. This new international airport will be operational in 2024, says infrastructure major.
In a tweet, Adani Group Chairman Gautam Adani Said: “We are delighted to take over the management of the world-class Mumbai International Airport. We promise to make Mumbai proud. The Adani Group will build an airport ecosystem of the future for business, leisure and entertainment. Will create new local jobs.”
We are delighted to take over the management of world class Mumbai International Airport. We promise to make Mumbai… https://t.co/OUgcJGmNhq
— Gautam Adani (@gautam_adani) 162618728000
The Adani Group is now the largest airport operator in India with eight airports.
While Mumbai is India’s second busiest airport, AAHL – “India’s largest airport infrastructure company” – now handles almost a quarter of India’s air traffic and will also “now control 33% of India’s air cargo traffic”. ,” the company said in a statement.
It acquired MIAL from GVK Group after a board meeting on Tuesday and obtaining all necessary approvals from the central and state governments and the City and Industrial Development Corporation of Maharashtra (Cidco).
“Our larger objective is to reinvent airports as the ecosystem that drives local economic growth and to act as the nucleus around which we can catalyze aviation-related businesses. These include metropolitan development. Which span entertainment facilities, e-commerce and logistics capabilities, industries dependent on aviation, smart city development and other innovative business concepts,” said Gautam Adani.
“Our airport expansion strategy aims to help connect Tier 1 cities in our country with Tier 2 and Tier 3 cities in a hub and spoke model. This is fundamental to making India’s urban-rural divide more equal as well as making international travel seamless and smooth. I believe that the economic value that cities create will be maximized around airports and the cities of tomorrow will be built with airports as the focal point. It is a fundamental lever for modern world development and rapid construction of our airport infrastructure will create multiple job structures that will create thousands of new job opportunities,” said one of the richest man in South Asia and an infra tycoon Adani said.
Adani Group is betting big on its seven functional airports and Navi Mumbai along with India is expected to be the world’s third largest aviation market by 2024. It says, “Provides a transformational aviation platform that creates multiple strategic proximity to the Adani Group for its B2B and B2C business as well as the Group’s other B2B businesses.”
At 12% annual growth, AAHL expects the passenger traffic share to grow from 8 crore in FY20 to 10 crore in FY22.
“With the management control of MIAL, AAHL is set to join the league of the world’s leading airport operators, catering to over 100 million passengers a year and 200 million non-flying, which is more than 300 million strong. consumer platform,” says the company.
AAHL has secured the mandate to operate six AAI airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram for a period of 50 years. Among them, it captured Ahmedabad, Lucknow and Mangaluru last year.
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