Adani Group Takes Over Mangaluru Airport on Lease For 50 Years

New Delhi: In a late-night development on Friday, the Airport Authority of India (AAI) handed over the Mangaluru airport to the Adani group on lease for a period of 50 years, an official statement read. With this, the Adani’s have now won the rights over six major airports – Lucknow, Ahmedabad, Thiruvananthapuram, Jaipur, Mangaluru and Guwahati. Also Read – Travelling to Assam? Check Out These Latest State-wise Quarantine Guidelines

The central government had in February 2019 decided to privatise six major airports of the country. Although the privatisation faces several challenges and protests, especially in Thiruvananthapuram, after a competitive bidding process, the government handed over the rights to the Adani group. Also Read – Adani Group to Buy Controlling Stake in Mumbai Airport

“In accordance to concession agreement executed on February 14, 2020, AAI handed over handling of Mangaluru @aaimlrairport to @AdaniOnline on lease for 50 yrs. Exchange of symbolic key held at midnight 00:00 hrs on October 30, 2020,” the AAI said on Twitter on Saturday. Also Read – ‘Here Are The Facts’: Aviation Minister Defends Thiruvananthapuram Airport Privatisation

The AAI had signed concession agreements with the Adani group on February 14 for operations, management and development of the Mangaluru, Lucknow and Ahmedabad airports.

On October 22, the AAI had said in a press release that the Adani group would be taking over the airports at Mangaluru, Lucknow and Ahmedabad by October 31, November 2 and November 11, respectively.

The concession agreements for the other three airports — Jaipur, Guwahati and Thiruvananthapuram — were signed between both the parties in September.