Adani Airport Holdings Limited, a wholly owned subsidiary of Adani Enterprises Limited, has taken over the management control of Mumbai International Airport Limited from GVK Group. The group had announced last August that it would acquire GVK Group’s stake in the Mumbai airport. Adani Group will hold a 74 per cent stake in Mumbai’s Chhatrapati Shivaji Maharaj International Airport, following the stake purchase transaction, 50.5 per cent from GVK Group and 23.5 per cent from minority partners including Airport Company South Africa (ACSA) and Bidvest Group.
“We are delighted to take over the management of the world-class Mumbai International Airport. We promise to make Mumbai proud. The Adani Group will build an airport ecosystem of the future for business, leisure and entertainment. We will create thousands of new local jobs. Adani Airport Holdings Limited (AAHL), a wholly owned subsidiary of Adani Enterprises Limited, said Gautam Adani, Chairman of Adani Group, it has acquired the management of Mumbai International Airport Limited (MIAL) from GVK Group after the MIAL Board meeting.
This is after approvals received from the Central Government, the City and Industrial Development Corporation of Maharashtra (CIDCO) and the Government of Maharashtra. “Our larger objective is to reinvent airports as the ecosystem that drives local economic growth and act as the nucleus around which we can catalyze aviation-related businesses. These include metropolitan developments that extend to entertainment facilities, e-commerce and logistics capabilities, aviation dependent industries, smart city development and other innovative business concepts.”
“Our airport expansion strategy aims to help convert Tier-I cities of our country into a hub and spoke model with Tier-II and Tier-III cities. This is fundamental to making India’s urban-rural gap more equal as well as making international travel smooth and accessible.
