Interested only in bidding for AAI stake in Mumbai, other AAI airports: Karan Adani
NEW DELHI : The Adani group will bid for the Airports Authority of India’s (AAI’s) stake in only Mumbai airport, and is not a suitor for the state-owned airport operator’s residual share in airports in Delhi, Bengaluru and Hyderabad, Karan Adani, managing director of Adani Ports and Special Economic Zone (APSEZ) said. He added that the group will bid for airports that the government plans to put for auctions. “We will bid for (AAI) airports...
but not for AAI’s stake in airports other than Mumbai. The strategy is simple -- we will bid for AAI's stake only if it gives us a controlling stake. So, Mumbai yes, but not other airports," Adani told Mint.
The Adani group is a majority stakeholder in Mumbai International Airport Ltd – the company that runs Mumbai airport. In recent times, the Adani group has bid aggressively for airports, and their decision to stay away from AAI’s stake in other private airports would mean lower revenues for the government. AAI holds a 26% stake each in joint ventures that operate Delhi and Mumbai airports, and owns 13% each in the joint ventures that operate Hyderabad and Bangalore airports.
Among the four airports, Delhi and Hyderabad have GMR Group as its largest shareholder and Fairfax is the largest member in the company that manages Bangalore airport. Beyond Mumbai, the Adani group operates airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram. Barring the Mumbai airport, which was acquired from the GVK group in 2021, the group won the rights to upgrade and operate the other six airports between 2020 and 2021 for a period of 50 years.
Read more on livemint.com
