In the Corona period Aviation The condition of the sector is bad, yet businessman Gautam Adani Airport Investing in business. Adani Group on Tuesday signed an agreement with AAI for the management, operation and development of Guwahati, Jaipur and Thiruvananthapuram airports. AAI had handed over Lucknow, Ahmedabad and Mangalore airports to Adani in October and November last year. It is important to understand why Adani feels that this business is profitable.
Apart from these six airports, Gautam Adani has also acquired Mumbai International Airport and the upcoming International Airport in Navi Mumbai. In September 2020, Adani Airport acquired GVK Airport Developers’ 50.50% stake in Mumbai International Limited (MIAL). It was learned last week that Adani Airport would buy a 13.5% stake in Bidwest and a 10% stake in Airports Company of South Africa (ACSA) in MIAL. After the completion of the deal, Adani’s ownership rights at Mumbai Airport will increase to 74%. Navi Mumbai Airport is still being prepared. And it has 74% stake in Mumbai International Limited i.e. MIAL.
Plans for 100 new airports by 2024
Mumbai and Navi Mumbai airports are strategically important for Adani airports. The Modi government plans to take the country’s economy to 5 5 trillion by 2025. The role of the aviation sector is very important. The government plans to open 100 new airports in Tier-1,2 City by 2024. This will be followed by the launch of 1000 new routes and most of the routes will be connected to smaller cities by air.
200 airports will be opened
This number is expected to reach 200 in the report of Indian Aviation Vision 2040. According to the plan, 3-3 international airports will be opened in Delhi, Mumbai. In addition 31 major cities will have 2-2 airports. The government’s planning needs to be thwarted by Corona, but the government’s target is still there. Gautam Adani wants to keep himself fully prepared. After the Airport Authority of India, Gautam Adani is currently the biggest player in airport management.
Vision seen in the annual report of Adani Enterprises
In the current annual report for 2020, Adani Enterprise said that the strategic aspect is very important for the aviation sector. After Corona, India has become the choice of investors. “The city made for speed is made for success,” said French architect Le Corbusier. Which means it’s about to be the most delusional time of the year, as well. This is mentioned in the annual report. If a city has good connectivity then this is the most important reason for investment and trade.
Privatization took place in February 2019
He currently has contracts for three other airports. Under the concession agreement, a company gets the right to conduct business owned by the government or another company for a fixed period of time and with certain conditions. With this agreement, AAI said that Adani Group will have to meet certain conditions for Guwahati, Jaipur, Taruvananthapuram airports within 180 days from January 9, 2021. The Center had in February 2019 privatized six airports in the country – Lucknow, Ahmedabad, Jaipur, Mangalore, Thiruvananthapuram and Guwahati. Gautam Adani has now got the right to rule for 50 years.