According to Minister of State for Civil Aviation V.K. Singh, billionaire Gautam Adani-controlled Adani Enterprises has paid ₹1,103 crore to the state-owned Airports Authority of India (AAI) for taking over its airport assets at Ahmedabad, Mangaluru, and Lucknow. Responding to a query in the Rajya Sabha by Trinamool Congress MP Jawhar Sircar, Singh explained that this payment includes capital for Regulatory Assets Base (RAB) and Cost of Capital Work in Progress (CWIP) incurred by AAI at these airports, as stipulated in the concession agreements.
Singh clarified that the concessionaires have already paid approximately ₹1,103 crore to AAI, covering deemed initial RAB up to March 31, 2018, and CWIP costs as of the takeover dates. The remaining balance, adjusted based on determinations by the Airport Economic Regulatory Authority of India (AERA), is yet to be settled.
Adani Enterprises assumed operations at Ahmedabad, Mangaluru, and Lucknow airports in November 2020, following a concession agreement. The company had earlier invoked force majeure due to the pandemic in 2020, seeking an extension to take over the airports, which was partially granted by AAI.
Earlier this year, Adani Enterprises became India’s largest airport operator after acquiring a controlling stake in Mumbai International Airport Ltd (MIAL), which manages Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA).
