India: Adani wins bids to operate 5 AAI airports

AAI official have revealed that bids put by Adani group were «very aggressive» as compared to other bidders.

he ports-to-edible oil Adani Group has emerged the winner in the privatisation of five out of six airports put up by the government, outbidding a slew of national and international competitors including GMR, AMP Capital and the National Investment and Infrastructure Fund (NIIF).

The Ahmedabad-based group won the right to upgrade and operate the airports of Lucknow, Jaipur, Thiruvananthapuram, Mangaluru and Ahmedabad by mounting aggressive bids which offered a higher payment for passenger fee to the Airports Authority of India (AAI). The Adani Group will get to manage these airports for 50 years if its offers are approved by the government.

Adani Enterprises emerged the highest bidder on the basis of share of revenue offered per passenger. Bids were also received from established players such as GMR Airports, Autostrade Indian Infrastructure Development Pvt Ltd, PNC Infratech Ltd, NIIF & Zurich Airport International AG, AMP Capital, I-Investment Ltd, KSIDC and Cochin International Airport.

Keeping Airport Charges Low
The revenue per passenger model is different from the revenue share model, which had led to spike in airport charges at airports like Delhi and Mumbai. The government expects this model to keep airport charges under control.

Source: The Economic Times. India.

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