NE BUSINESS BUREAU
NEW DELHI, OCT 31
The Airports Authority of India (AAI) on Friday midnight handed over the Mangaluru airport to the Adani group on lease for 50 years, according to an official statement.
“In accordance with 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.
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.
