AAI hands over Mangaluru airport to Adani group on lease for 50 years
New Delhi: The Airports Authority of India (AAI) on Friday midnight handed over the Mangaluru airport to the Adani group on lease for a period of 50 years, according to an official statement.
The central government in February 2019 had privatized six major airports of the country -- Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati. After a competitive bidding process, the Adani group won the rights to run all of them.
"In accordance to concession agreement executed on February 14, 2020, AAI handed over handling of Mangaluru @aaimlrairport to @AdaniOnline on lease for 50 yrs. Exchange of symbolic key held at midnight 00:00 hrs on October 30, 2020," the AAI said on Twitter on Saturday.
The AAI had signed concession agreements with the Adani group on February 14 for operations, management, and development of the Mangaluru, Lucknow, and Ahmedabad airports.
On October 22, the AAI had said in a press release that the Adani group would be taking over the airports at Mangaluru, Lucknow, and Ahmedabad by October 31, November 2, and November 11, respectively.
The concession agreements for the other three airports -- Jaipur, Guwahati, and Thiruvananthapuram -- were signed between both the parties in September.
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Former Raymond chairman Vijaypat Singhania passes away
Mumbai (PTI): Former Raymond chairman Vijaypat Singhania died here on Saturday evening, his family said.
He was 87.
His son Gautam Singhania, the group's current chairman and managing director, announced the death on the microblogging platform 'X'.
Singhania passed away "peacefully" in Mumbai, and the last rites will be performed on Sunday, a Raymond Group spokesperson said.
Vijaypat Singhania, a recipient of the Padma Bhushan, was also a keen aviator and held a world record for the highest altitude gained in a hot air balloon.
He led Raymond as chairman for two decades till 2000. After handing over the reins of the company to Gautam, Vijaypat also transferred his entire 37 per cent stake in the company to his son.
Vijaypat Singhania and his son were embroiled in legal disputes some years ago, but later they settled the issues.
