Adani Group Takes Management Control Of Mumbai International Airport From GVK Group

This comes after the AAHL received approvals from the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Maharashtra government.

New Delhi: Adani Airport Holdings Ltd (AAHL), a wholly-owned subsidiary of Adani Enterprises Ltd, has taken over the management control of Mumbai International Airport Limited (MIAL) from the GVK Group on Tuesday, the company said in a statement.

This comes after the AAHL received approvals from the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Maharashtra government.

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“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 said in a statement.

"Our airport expansion strategy is intended to help converge our nation’s Tier 1 cities with the Tier 2 and Tier 3 cities in a hub and spoke model. This is fundamental to enabling a greater equalization of India’s urban–rural divide, as well as making international travel seamless and smooth," he added.

Mumbai International Airport Limited is India’s second busiest airport for both passenger and cargo traffic.

Adani Airport Holdings Ltd is now India’s largest airport infrastructure company, accounting for 25 percent airport footfalls. With the addition of Mumbai International Airport Limited, the company will now control 33 percent of India’s air cargo traffic.