Adani group’s delay in takeover hurts the government’s airport privatisation move.
Kapur, who formerly headed the airport business for GMR group had quit citing personal reasons.
Adani has the right to operate the airports for 50 years, but those at Jaipur, Trivandrum and Mangalore are already stuck in litigation and the group hasn’t signed any binding agreement with AAI.
It has written to the Airport Authority of India (AAI) to invoke the force majeure clause to postpone the takeover and it has appointed consultants to re-evaluate the viability of the business.
The group has cited uncertainty in the aviation sector due to the coronavirus pandemic for seeking at least six months to take over Lucknow, Mangalore and Ahmedabad airports, sources told Business Standard.