Adani Group Takes Over Management of Mumbai Airport
Billionaire Gautam Adani-led Adani Airport Holdings took over the management control of the Mumbai International Airport from the GVK group to become the country's largest airport infrastructure compa
The Mumbai International Airport Limited was being managed by the GVK Group. The airport Board held a meeting a few days back. During the meeting they received approvals from the central government, Maharashtra government, as well as the City and Industrial Development Corporation (CIDCO) of Maharashtra. After receiving approvals, they have handed over the management of the Mumbai International Airport from the GVK group to Billionaire Gautam Adani-led Adani Enterprises Limited. The Adani Group now holds 74% stake in the Mumbai airport while the Airport Authority of India holds the remaining 26%. In a Tweet Adani Group Chairman Gautam Adani said - “We are delighted to take over management of the world class Mumbai airport. We promise to make Mumbai proud. The Adani Group will build the best airport with modern facilities, so people can travel for business and leisure.”
Adani Airport Holdings will also begin the construction of the Navi Mumbai International Airport next month and it is expected to be completed in 2024. The company has also won the contract for the management, development and modernisation of 6 other airports in India for the next 50 years. They are - Lucknow, Ahmedabad, Mangaluru, Guwahati, Jaipur, and Thiruvananthapuram. They will also have control of 33 percent of the country's air cargo traffic.