The deal marks the Tata Group's entry into the airports business. The entry of the Tatas, who owns two airlines, comes close on the heels of the Adani Group's entry into the sector after it won bids to operate six airports last month.
The Tata Group, which runs full-service airline Vistara, was earlier in talks to pick stake in Jet Airways. Indications are that discussions to buy a stake in Jet Airways could restart at the Tata Group. The talks had floundered the last time on promoter Naresh Goyal’s reluctance to cede management control.