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Government to sell remaining stake in Mumbai's airport

In recent developments, the government plans to sell its residual stake in already privatised Delhi, Mumbai, Bengaluru and Hyderabad airports.

Government to sell remaining stake in Mumbai's airport
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According to reports, the government plans to sell its residual stake in already privatised Delhi, Mumbai, Bengaluru and Hyderabad airports as part of the ambitious INR 2.5 lakh crores asset monetisation pipeline identified to raise additional resources.

Moreover, in the first round of airports' privatisation under the Narendra Modi government, the Adani Group bagged contracts for six airports — Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati — last year.

The AAI, which works under the Ministry of Civil Aviation, owns and manages more than 100 airports across the country. While in Mumbai International Airport, Adani Group holds 74 per cent stake, the remaining 26 per cent stake is with AAI.

Earlier, CSMIA was owned by GVK, AAI and two other partners, Mumbai International Airport Limited (MIAL), and GVK had the highest participation in this. However, the GVK group later faced financial trouble. Besides this, both the other important partners also parted ways with the GVK group, owing to which GVK had to sell the airport to the Adani Group.

On the other hand, the Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai resumed its Terminal 1 (T1) for domestic flight operations with effect from March 10. After closing operations of Terminal 1 in March 2020 due to the outbreak of the coronavirus, CSMIA’s T1 resumed operations after almost a year with a total of 51 flights at departure and 51 at arrivals.

The terminal will cater to all domestic flight operations of Go Air, Star Air, Air Asia and Trujet. Furthermore, select flights of IndiGo, with subset series 6E 5500 – 6E 5900, will operate to and from T1 while the rest will continue to operate from Terminal 2.

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