Adani group takes control of Mumbai International airport

Mumbai: Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, took over the management control of Mumbai International Airport Limited (MIAL) from the GVK Group on Tuesday afternoon following the MIAL Board Meeting earlier in the day. 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. While the world navigates its way out of an unprecedented crisis, post-pandemic demand for air travel in India and the rest of the world is expected to surge.

In a statement issued in the evening, AAHL said that it would cater to a 300-million-strong post-pandemic consumer base comprising fliers and non-fliers. “AAHL will begin the construction of Navi Mumbai International Airport next month. Financial closure to be completed in the next 90 days and the New International Airport will be commissioned in 2024,” the AAHL statement said.