The Airports Authority of India (AAI) has signed the letter of consent with the Adani Group for Jaipur, Thiruvananthapuram and Guwahati airports.
According to the report, the Adani Group has also given the AAI a pledge that it will honor the outcome of the pending decisions regarding Thiruvananthapuram and Guwahati airports, the sources added.
The Union Cabinet approved the leasing of the three state airports on August 19 as part of a public-private partnership, and the Adani Group was the highest bidder for the three airports.
The processes required before signing the concession contract have started according to the sources including security clearance etc.
“The concession agreement for the three airports is expected to be signed in the next two months,” a source said.
It is important to note that some public interest litigation has been filed in relation to Thiruvananthapuram and Guwahati airports.
“If the petitioners are successful and the outcome of a legal dispute results in the cancellation of the tendering process, the concessionaire will transfer ownership of the airport to AAI. You will be entitled to a refund of the amount paid to AAI and additional investment in the property. The concessionaire will also become not claim damages from AAI, “Puri had said.
The Adani Group was the highest bidder for six AAI airports, namely Lucknow, Mangalore, Ahmedabad, Jaipur, Guwahati and Thiruvananthapuram in February 2019.
While Cabinet approved the Adani Group as the highest bidder for Mangalore, Lucknow and Ahmedabad airports in July 2019, the takeover process for the three airports is expected to be completed by November 2020.
“AAI has commenced the hand-holding process for Lucknow, Ahmedabad and Mangalore Airports effective today. This will continue over the next two months,” a source said.
According to the concession agreement signed for these three airports in February 2020, the Adani Group should take over the three airports within a period of six months, i.e. by August 2020.
However, the group had requested an extension of the deadline in June too, citing the force majeure clause of the public-private partnership agreement, as work was affected due to the lockdown and ban on international flights amid COVID-19.
However, AAI granted a three month extension over a six month requirement.
As MIAL was holding a 74 percent stake in Mumbai International Airport Ltd, the Adani Group will also have the same stake percentage.
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