AAI hands over Lucknow airport to Adani group on lease for 50 years

The Airports Authority of India (AAI) on Sunday midnight handed over the Lucknow airport to the Adani group on lease for a period of 50 years.

The AAI had handed over the Mangaluru airport to the group on October 30 midnight.

The central government in February 2019 privatised six major airports of the country -- Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati. After a competitive bidding process, the Adani group won the rights to run all of them for 50 years.

"On November 2, 2020, at 00:00 midnight, AAI's senior officials exchanged Memorandum & handed over Lucknow Airport @aailkoapt to @AdaniOnline," the AAI said on Twitter.

"Shri A.K Sharma, APD (Airport Director), Lucknow exchanged symbolic key in accordance with concession agreement & future development," it added.

The AAI had signed concession agreements with the Adani group on February 14 for operations, management and development of the Mangaluru, Lucknow and Ahmedabad airports.

On October 22, the AAI said in a press release that the Adani group would be taking over the airports at Mangaluru, Lucknow and Ahmedabad by October 31, November 2 and November 11, respectively.

The concession agreements for the other three airports -- Jaipur, Guwahati and Thiruvananthapuram -- were signed between both the parties in September.