AAI gives Mangaluru Airport Adani group on lease for 50 years

Photo for representational purpose

The Airports Authority of India (AAI) has handed over the Mangaluru airport to the Adani group on lease for a period of 50 years, according to an official statement.

The central government in February 2019 had privatised six major airports of the country -- Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati. After a competitive bidding process, the Adani group won the rights to run all of them.

"In accordance to concession agreement executed on February 14, 2020, AAI handed over handling of Mangaluru airport to @AdaniOnline on lease for 50 yrs. Exchange of symbolic key held at midnight 00:00 hrs on October 30, 2020," the AAI said on Twitter.

The AAI had signed concession agreements with the Adani group on February 14 for operations, management and development of the Mangaluru, Lucknow and Ahmedabad airports.

On October 22, the AAI had said in a press release that the Adani group would be taking over the airports at Mangaluru, Lucknow and Ahmedabad by October 31, November 2 and November 11, respectively.

The concession agreements for the other three airports -- Jaipur, Guwahati and Thiruvananthapuram -- were signed between both the parties in September.

Keep scrolling to read more news

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever