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Modi Govt 2.0 to Award Adani Enterprises Leases to Manage 6 Airports for Next 50 Years

The six airports are— Ahmedabad, Guwahati, Jaipur, Lucknow, Mangaluru and Thiruvananthapuram.

Six airport lease rights will reportedly be awarded to Adani Enterprises Limited as the first big-ticket deal to be signed by the newly formed National Democratic Alliance (NDA) government as it begins its next five-year term after the 2019 elections.

Business Line reported that after an aggressive bidding spree for six airports, Adani Enterprises had emerged as the highest bidder for the operation and management of existing airport assets and upgradation and development of additional air-side terminals, city-side and land-side infrastructure on a 50 years lease.

The six airports are— Ahmedabad, Guwahati, Jaipur, Lucknow, Mangaluru and Thiruvananthapuram.

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The winning bid is decided on the basis of the highest per-passenger concession fee that the bidder is willing to pay to the Airports Authority of India (AAI) on a monthly basis for 50 years.

Per the report, Adani Enterprises emerged victorious for all the airports up for lease. It quoted a domestic per passenger fee of Rs 177 for Ahmedabad airport, (the city where the company is based), Rs 174 for Jaipur, Rs 171 for Lucknow, Rs 168 for Thiruvananthapuram, Rs 115 for Mangaluru and Rs 160 for Guwahati.

AAI will earn Rs 525-575 crore each year, going by Adani Enterprises’ quoted rate. The price will go up as more people use the airports to travel. Rate for international passengers will be twice that of domestic passengers, the report added.

Also Read: Not Just NDA, Exit Polls Make Adani Group Happy; Stock Rises 21%

However, awarding the deal was put on hold because of the elections as the outgoing Cabinet could not approve the bid.

Adani will join GMR, GVK and the state-run AAI, who are the leading players in Indian airport business.

Former GMR group executive director Sidharath Kapur has been hired as the CEO to run Adani’s airports business.

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