Mumbai: Adani Group has taken over the management control over Mumbai International Airport Limited (MIAL). The Adani Airport Holdings Ltd (AAHL), a subsidiary of Adani Enterprises Limited, has taken over the management control from from the GVK Group. Mumbai International Airport is India’s second busiest airport by both passenger and cargo traffic, according to an IANS report.
- The change was made after the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Government of Maharashtra gave their approvals, the IANS report says.
- With eight airports under its management and development portfolio, AAHL is now India’s largest airport infrastructure company. The company accounts for 25 per cent airport footfalls, as per the IANS report.
- With the addition of MIAL, AAHL will now control 33 per cent of India’s air cargo traffic.
- “Our larger objective is to reinvent airports as ecosystems that drive local economic development and act as the nuclei around which we can catalyse aviation-linked businesses. These include metropolitan developments that span entertainment facilities, e-commerce and logistics capabilities, aviation dependent industries, smart city developments, and other innovative business concepts,” Adani Group Chairman Gautam Adani was quoted as saying by IANS.
- With the management control of Mumbai Airport, AAHL is poised to join the league of the world’s leading airport operators that cater to more than 100 million passengers and 200 million non-fliers in a year, presenting a more than 300 million strong consumer platform.
- At 12 per cent CAGR, AAHL expects its share of passenger traffic to grow from 80 million in fiscal 2020 to 100 million in fiscal 2022, the IANS report says.
- Meanwhile, The AAHL will begin the construction of Navi Mumbai International Airport next month and complete the financial closure in the next 90 days, the company said in the statement. The new international airport will be commissioned in 2024.
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