MUMBAI: The state-run
Airports Authority of India (
AAI) has decided to give the
Adani Group time till November 12, 2020 to take over the commercial operations of the three privatised
airports Ahmedabad, Lucknow and Mangaluru.
This is less than half the seven month extension the group had asked for, citing the Force Majeure clause because of Covid19. ET had reported it on June 4.
AAI will also reject the company’s requests of a six month moratorium on payment of concession fees and a three month extension on reimbursements to AAI.
The original deadline of COD (commercial operation date) for the three airports was August 12. The infrastructure conglomerate had signed concession agreements for the airports on February 14, 2020. It had won bids to privatise six airports—also Jaipur, Guwahati and Thiruvananthapuram--in February 2019.
In its order letter, seen by ET, AAI has said the decision to curtail the extension to three months was made considering the partial resumption of flights from May 25 and resumption of several economic activities from June 1.
On the six month moratorium on concession fee, AAI has said it isn’t a fixed amount but depends on the number of passengers. Since the concessionaire (Adani Group) shall anyway have to pay a lesser concession fees because of lower passenger turnout, the request for the moratorium is being rejected.
The AAI has also said that an extension of reimbursements to AAI on expenses it has already incurred on the three airports, will have financial implications on AAI. Adani owes it asset transfer fees of Rs 2,000 crore for six airports, half of which is for Ahmedabad, Lucknow and Mangaluru.
Airports Authority of India (AAI) is however extending its contracts with concessionaires at the six airports until March 2021, it said in an order earlier this month. ET reported it on June 11.