InvestorQ : Why has the government given Adani 3 months to take over the new airports?
Dawn Cherian made post

Why has the government given Adani 3 months to take over the new airports?

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Mitali Bhutta answered.
3 months ago
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Let me clarify that the Ministry of Civil Aviation has only granted the Adani Group a 3-month extension for taking over the 3 airports of Thiruvananthapuram, Jaipur and Guwahati. This was specifically granted on a request from the Adani group to the Airports Authority of India considering the immense activity disruption caused by COVID 2.0.

The *** has confirmed that the airports of Mangalore, Ahmedabad and Lucknow have already been handed over to the Adani Group in 2020 itself. You would be aware that recently, Adani became the largest airport operator in India with the acquisition of MIAL. They bought the Mumbai Airport stake from the ex-owners, GVK group. ICRA has estimated airport sector to incur net loss of Rs.5,400 crore in FY22.

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