In a move that would give wings to air connectivity in Uttar Pradesh capital, business conglomerate Adani Group has decided to invest Rs 5,000 crore in the Lucknow Airport. The fresh investment by billionaire Gautam Adani-led company would help expand the airport, formally known as the Chaudhary Charan Singh International Airport (CCSIA).
After the Centre decided to privatise six airports in the country in 2019, the Airport Authority of India handed over the airport to the Adani Group on a 50-year lease in 2020. The funds may be used, among other things, to develop a third terminal at the airport that currently handles 43 lakh passengers per annum.
“Phase-1 of the new integrated terminal 3 (T3) with a capacity of handling 80 lakh passengers per annum should be ready by this October. Then in another one year, phase-II should be ready with an additional capacity of 50 lakh passengers per annum, taking T3’s total capacity to 1.3 crore,” an official of the Lucknow International Airport Ltd was quoted by news agency IANS as saying. The plan is to increase the annual capacity of the airport to handle 4 crore passengers.
Meanwhile, the LIAL has proposed a hike in aeronautical charges like parking fees, and landing fees from 1 April, 2023, to fund this development plan. The Adani Group has proposed raising the user development fee per domestic departure from Rs 192 to Rs 1,025, excluding taxes.
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An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
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