Adani group seeks more time to take over 3 airports, cites coronavirus

Adani seeks six months to take over Lucknow, Mangalore and Ahmedabad airports, dealing blow to govt's privatisation plan

Arindam Majumder New Delhi
Gautam Adani | File photo

Adani signed a binding concession agreement for Lucknow, Mangalore and Ahmedabad on February 15, after winning six airports in the bidding process in February 2019. (Gautam Adani | File photo)

The Adani group has expressed its inability to take over three airports it won after aggressive bidding last year, dealing a blow to the government’s privatisation plan.
The group has cited uncertainty in the aviation sector due to the coronavirus pandemic for seeking at least six months to take over Lucknow, Mangalore and Ahmedabad airports, sources told Business Standard. It has written to the Airport Authority of India (AAI) to invoke the force majeure clause to postpone the takeover and it has appointed consultants to re-evaluate the viability of the business.

Business Standard reached out to the Adani group for its comment. We will update this story as and when it responds.
Adani signed a binding concession agreement for the three airports on February 15, after winning six in February 2019. According to the agreement, the group had to formally take over the assets within 180 days by paying around Rs

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Topics : Adani Group

First Published: Jun 04 2020 | 8:03 AM IST

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