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After Govt Approval, Adani Group Takes Over Management Control Of Mumbai International Airport
Gautam Adani, chairman and founder of the Adani Group (Abhijit Bhatlekar/Mint via Getty Images)
The Adani Airport Holdings Ltd (AAHL), a subsidiary of Adani Enterprises Limited, has taken over the management control of the Mumbai International Airport Limited (MIAL) from the GVK Group following the a board meeting of MIAL held on Tuesday.
The development came after approvals were 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 both in terms of passenger and cargo traffic. With this, the AAHL, headed by industrial magnate Gautam Adani, becomes the biggest private airport operator running several major airports like Mumbai, Navi Mumbai (upcoming), Bengaluru, Ahmedabad and Lucknow, besides three more likely in the near future.
Additionally, AAHL is now India's largest airport infrastructure company, accounting for 25 per cent airport footfalls. With the addition of MIAL, AAHL will now control 33 per cent of India's air cargo traffic.
Last month, the Maharashtra government had approved Adani Airport Holdings Ltd (AAHL) to operate the upcoming Navi Mumbai International Airport in the adjoining Thane-Raigad region.
The Navi Mumbai International Airport is coming up on 1,160 hectares of land. It is expected to become operational in 2023-2024 and is poised to become the country's leading airport over the next decade for both domestic and international flights.
With IANS Inputs
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