Adani Trivandrum International Airport Ltd (ATIAL) of the Adani Group is gearing up to take over the 88-year-old airport from the Airports Authority of India as part of executing the 50-year lease agreement between the AAI and the ATIAL.
Meanwhile, the next move of the State government is being keenly watched. The State will have to sign a State support agreement to hand over the airport to the AEL and the stance of the State is crucial. The government is likely to back out from the acquisition of eight hectares needed from Vallakkadavu-Vayyamoola area for a ₹600-crore integrated terminal on the city side.
“Already, the Bureau of Civil Aviation Security (BCAS) and the Union Ministry of Home Affairs have been approached for the mandatory security clearance for the board of directors of the ATIAL,” sources associated with the leasing process told The Hindu.
Once the security clearance is obtained, the lease agreement will be executed. After signing the pact, the ATIAL will have to submit the performance bank guarantee to the AAI. ATIAL personnel will fly down to the capital and start observing the airport operations closely for two months. After the observation period, the ATIAL will take over the commercial operations as per the commercial operation date (COD).
After three months of taking over the commercial airport operations, officers of the DGM and above grade of the AAI working in the airport will be sent back to the AAI. Others up to the AGM grade will be retained in the airport as deemed ‘deputation.’