Ahmadabad: Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, ON Tuesday announced that it has taken over the management control of Mumbai International Airport Limited (MIAL) from the GVK Group following the MIAL Board Meeting.
This follows approvals received from the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Government of Maharashtra. MIAL is India’s second busiest airport by both passenger and cargo traffic. With eight airports in its management and development portfolio, AAHL is now India’s largest airport infrastructure company, accounting for 25% airport footfalls. With the addition of MIAL, AAHL will now also control 33% of India’s air cargo traffic.
The addition of the Mumbai International Airport to the Adani Group’s existing portfolio of six airports, and thereafter the operationalization of the greenfield Navi Mumbai International Airport Limited (NMIAL) provides a transformational aviation platform allowing the Adani Group to interlink its B2B and B2C business as well as create several strategic adjacencies for the Group’s other B2B businesses. AAHL will begin the construction of the Navi Mumbai International Airport next month and complete the financial closure in the next 90 days. This new international airport will be commissioned in 2024.
“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, ecommerce and logistics capabilities, aviation dependent industries, smart city developments, and other innovative business concepts,” said Gautam Adani, Chairman of the Adani Group.