Adani Group takes over management of MIAL; now controls 33% of the country’s total air cargo

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Adani Airport Holdings Limited, a wholly-owned subsidiary of the Adani Group on Tuesday took over the management of the Mumbai Airport from business conglomerate GVK, the company said in a social media post.

The group has now become the country’s largest airport infrastructure company that is in charge of developing or managing eight airports in total. The company now controls 25% of passenger footfalls and 33% of air cargo in the country.

The group now owns a 74% stake in the Mumbai International Airport Limited.

The company also announced that it will start the construction of the Navi Mumbai International Airport in August. “Financial closure to be completed in the next 90 days and the New International Airport will be commissioned in 2024,” the company’s statement said.

Chairperson of the group Gautam Adani said that the company’s objective was to “reinvent airports as ecosystems that drive local economic development and act as the nuclei around which we can catalyse aviation-linked businesses”.

Adani said that his group will set up an “airport ecosystem of the future” and create thousands of new local jobs.

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