Adani Enterprises paid ₹1,103 crore for Ahmedabad, Mangaluru, Lucknow airports

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NEW DELHI : Billionaire Gautam Adani-controlled Adani Enterprises paid 1,103 crore to state-owned Airports Authority of India (AAI) for taking up its airport property at Ahmedabad, Mangaluru, and Lucknow, minister of state for civil aviation V.Okay. Singh mentioned on Monday.

Responding to a query on the Rajya Sabha by Trinamool Congress member of parliament Jawhar Sircar, Singh mentioned that as per the concession agreements, the concessionaires of airports at Ahmedabad, Mangaluru, and Lucknow needed to pay AAI an quantity of 1,103 crore.

This included capital for Regulatory Property Base (RAB) for aeronautical and non-aeronautical property and Price of Capital Work in Progress (CWIP) incurred by AAI at these airports.

“Thus far, the Concessionaires have paid AAI a sum of roughly 1,103 crore comprising deemed preliminary RAB as much as 31 March 2018 and value of CWIP as on takeover date of respective airports,” Singh mentioned.

“The remaining adjusted deemed preliminary RAB as much as takeover date of the airports, as decided by Airport Financial Regulatory Authority of India (AERA), is a part of stability fee that the Concessionaires is liable to pay,” he added.

Adani Enterprises took over the operations at Ahmedabad, Mangaluru and Lucknow airports in November 2020.

The concessionaire had earlier in 2020 invoked pressure majeure on account of the pandemic and sought a 205-day extension to take over the airports, Singh mentioned.

The AAI, nonetheless, granted the concessionaire 90 days’ extension, he added.

Adani Enterprises turned the nation’s largest airport operator earlier this yr after taking a controlling stake in MIAL (Mumbai Worldwide Airport Ltd), which runs the Chhatrapati Shivaji Maharaj Worldwide Airport (CSMIA) in Mumbai, the second busiest within the nation after Delhi’s Indira Gandhi Worldwide Airport.

The corporate additionally operates airports at Jaipur, Guwahati and Thiruvananthapuram.

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