According to documents obtained by the news desk, the new subsidiary, Airports Infrastructure PLC (AIP), is fully owned by Global Airports Operator L.L.C. (GAO), another company under Adani Enterprises based in Abu Dhabi.
Filings at the National Stock Exchange of India Ltd show that the Kenyan subsidiary was officially registered in Kenya on August 30, 2024, under the Kenyan Companies Act, 2015.
The main goal of AIP is to manage, operate, develop, and improve airport facilities in Kenya.
Issued Share Capital.
AIP has an issued share capital of Sh6.75 million divided into 6,750 equity shares, each valued at Sh1,000.
Turnover
As a newly incorporated entity, AIP has not yet commenced business operations and thus currently has no turnover.
Ownership
GAO, a subsidiary of Adani Enterprises, will hold 100% of AIP’s share capital, ensuring complete control over the new venture.
READ: JKIA deal – 7 airports managed by proposed investor Adani Airports
Adani Group, an Indian conglomerate, has proposed a 30-year concession to manage and expand JKIA in a $1.85 billion deal.
Under the proposal, Adani would invest in upgrading JKIA’s infrastructure, including adding a second runway and a new terminal by 2029.
In exchange, Adani would operate JKIA for 30 years, effectively blocking the development of other major Kenyan airports without their consent.
The Kenya Aviation Workers Union (KAWU) has been opposing the Adani deal, citing concerns over potential job losses, reduced benefits, and deteriorating working conditions.
KAWU initially planned to strike on September 2 to protest the proposed takeover.
The union is demanding full transparency regarding the Adani deal, including the disclosure of the Public Initiation Proposal (PIP) assessment report and meeting minutes between KAA and Adani.
KAWU has also called for the resignation of Kenya Airports Authority (KAA) officials to avert the strike.
President William Ruto met with union leaders and government officials on August 26 to address the workers’ concerns and prevent the strike.
The government has defended the Adani deal as necessary to refurbish JKIA, which often faces infrastructure issues like power outages and leaking roofs.
President Ruto instructed Transport CS Davis Chirchir to provide the union with details of the expansion project and Adani’s proposal, but the workers are yet to receive the documents.
The situation remains tense as the aviation workers continue to demand transparency and oppose the Adani deal, while the government maintains that the takeover is necessary for JKIA’s development.
The outcome of the negotiations and the planned strike will significantly impact the future of JKIA and Kenya’s aviation sector.
