Adani Group Pays Rs 2440 Crore to AAI

Reported by Tanay Singh Thakur November 8th, 2021 at 09:34 am

AAI has also used some of this money for repayment of working capital loans. The state-owned airports body had to borrow to pay the salaries previously.

Highlights

The Airports Authority of India (AAI) has just got a Rs 2440 crore payment from the Adani Group.
AAI has also used some of this money for repayment of working capital loans.
Adani Group won airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram.

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The Airports Authority of India (AAI) has just got a Rs 2440 crore payment from the Adani Group. According to an ET report, the payment done by Adani is for the six airports it won the bid for. “The payment has been made against capital work in progress and investments in regulated assets,” AAI chairman Sanjeev Kumar said. AAI has also used some of this money for repayment of working capital loans. The state-owned airports body had to borrow to pay the salaries previously. Thus, with this one time payment from the Adani Group, AAI has repaid some of its loans. Adani Group won airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram through a competitive bid announced in 2019.

Reported By

Tanay Singh Thakur Editor-in-Chief

Tanay hails from Bilaspur, Chattisgarh and is a sports and fitness enthusiast. Reading and writing is something which comes to him out of love for the web of magic that words can create.