AAI grants extension to Adani Group for taking over operations of three private airports

The Airports Authority of India (AAI) has granted extension to the Adani Group for taking over the commercial operations of three privatised airports – Ahmedabad, Lucknow and Mangaluru. The deadline has been extended from August 12, 2020 to November 12, 2020. This is less than half the seven-month extension sought by the Adani Group stating the force majeure clause evoked due to COVID-19 pandemic. Meanwhile, AAI is likely to reject Adani’s request of a six-month moratorium on payment of concession fees and a three-month extension on reimbursements to AAI.