Adani Takes Control Of Mumbai Airport, No Mention Of COVID-19 Impact

Adani Enterprises says it is well placed to build the infrastructure needed to support the country’s expected aviation growth, which has been curtailed by the coronavirus crisis.

The company’s chairman Gautam Adani made the comment on Wednesday, only days after Adani Airports said it had agreed to buy GVK Power & Infrastructure’s majority stake in Mumbai International Airport (MIAL), to give it control of one of India’s biggest and busiest transport gateways.

Mr Adani did not mention the impact of the COVID-19 pandemic on any growth plans. Global air travel has slumped since March, with government-imposed coronavirus restrictions and public wariness about travel hitting airports and airlines.

Credit rating agency Fitch in a note last month forecast consolidation in the Indian aviation sector and warned of a slow rebound in demand, with domestic passenger volume growth “in the single digits over the next few months”.

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