As per the concession agreement, Adani Group will take over the airports within six months. Credit: Marco López / Unsplash.

Adani Group and Airports Authority of India (AAI) have signed a concession agreement for the development, management and operation of three Indian airports in Jaipur, Guwahati and Thiruvananthapuram.

During December 2018, AAI opened an international competitive bidding process for PPP transactions for six airports in Ahmedabad, Lucknow, Mangaluru, Guwahati, Jaipur and Thiruvananthapuram.

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In February 2019, Adani Enterprises emerged as the highest bidders for all these airports for 50 years.

Under the concession agreement, Adani Group will take over the airports within six months.

Adani Group started operating three airports at Lucknow, Mangaluru and Ahmedabad last year.

In a press release, AAI said: “The concessionaire of Guwahati airport shall pay AAI a per passenger fee of $2.19 for domestic passenger and $4.38 for international passenger.

“Similarly, the concessionaires for Jaipur and Thiruvananthapuram airports will pay AAI per passenger fee of $2.38 and $2.30 respectively for domestic passenger and $4.76 and $4.60 respectively for international passenger. Per passenger domestic fee will be revised annually taking into account the variation in the CPI (IW).”

AAI chairman Arvind Singh said: “It is a significant occasion today when we complete this round of signing of concession agreements for three airports, under the PPP mode. Looking forward to healthy participation from the private sector in the growth story of Indian civil aviation.”

After leasing out six airports, the concession fee received by AAI will be used for the development and maintenance of other brownfield airports.

It will also be used for the development of RCS and Greenfield airports in the country.