This paper presents an adaptive feedback linearization control scheme for induction motors with simultaneous variation of rotor and stator resistances. Two typical modeling techniques, rotor flux model and stator flux model, have been developed and successfully applied to the controller design and adaptive observer design, respectively. By using stator fluxes as states, over-parametrization in adaptive control can be prevented and control strategy can be developed without the need of nonlinear transformation. It also decrease the relative degree for the flux modulus by one, thereby, yielding, a simple control algorithm. However, when this method is used for flux observer, it cannot guarantee the convergence of flux. Similarly, the rotor flux model may be appropriate for observers, but it is not so for adaptive controllers. In addition, if these two existing methods are merged into overall adaptive control system, it brings about structural complexies. In this paper, we did not use these two modeling methods, and opted for the airgap flux model which takes on only the positive aspects of the existing rotor flux model and stator flux model and prevents structural complexity from occuring. Through theoretical analysis by using Lyapunov's direct method, simulations, and actual experiments, it is shown that stator and rotor resistances converge to their actual values, flux is well estimated, and torque and flux are controlled independently with the measurements of rotor speed, stator currents, and stator voltages. These results were achieved under the persistent excitation condition, which is shown to hold in the simulation.