The Adani corporation has postponed its intention to purchase airport holdings in Jaipur, Guwahati, and Thiruvananthapuram until December, citing the impossibility of managing these companies during the epidemic. This is despite the fact that the company has made significant progress in becoming India's largest airport developer.
Adani Airports Holding Ltd (AAHL), has attempted to declare force majeure, alleging difficulties caused by the second wave of the epidemic. The Airports Authority of India (AAI), which accepted AAHL's plea for a prolongation to take over all the airports in Lucknow, Ahmedabad, and Mangaluru last year, will convene later in the month to deliberate on Adani group's newest proposal.
The argument was supported by a senior AAI executive. The public sector airport authority, on the other hand, has yet to reach a choice, according to the official. According to Nripendra Singh, research head and strategic consultant for aviation at Frost & Sullivan, the corporation's intention to enter the airport sector was intended at capitalizing on India's aviation growth.
“The domestic traffic is expected to increase exponentially once the pace of vaccination increases and the majority of the population gets vaccinated by December. All three airports, whose takeover is being delayed, are dominated by domestic traffic," Singh said.
During the airport privatization process in the last several years, the Adani group won competitive tenders to manage airports in places including Jaipur, Ahmedabad, Guwahati, Lucknow, Mangaluru, and Thiruvananthapuram. After acquiring a majority interest in Mumbai International Airport Ltd, which manages the Mumbai airport, during this year, AAHL became the country's biggest aviation administrator. In terms of tourist volume, the Chhatrapati Shivaji Maharaj International Airport is currently the second.
“For the group, it would not be commercially feasible to take up the airports before passenger traffic recovers as they would have to shell out fixed costs and address other commercial aspects from their own pocket," the person said, requesting anonymity. “The more they can delay taking up these airport projects, the more commercially viable they are for the group," the person said.
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