Adani Airports Secures $750 Million to Expand Six Indian Airports
| 2025-06-04
Adani Group secures $750 million from international banks to refinance debt and expand six airports in India.
Adani Airports Holdings raises $750 million from global banks to refinance debt and enhance infrastructure at six key Indian airports, boosting aviation capacity.
Adani Airports Holdings Ltd (AAHL), a subsidiary of Adani Enterprises Ltd, announced on Wednesday that it has raised $750 million through external commercial borrowings. The funding round was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank.
In a statement filed with the stock exchanges, the company said it would allocate $400 million of the new funds to refinance existing loans, with the balance earmarked for infrastructure upgrades and capacity expansion at six airports it operates in India — located in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram.
The company also intends to invest in its non-aeronautical business operations, including retail outlets, food and beverage services, duty-free shopping, and other passenger amenities across its airport network.
Arun Bansal, Chief Executive Officer of Adani Airports Holdings, said the successful fundraising reflects growing confidence in India’s aviation infrastructure. “The trust placed in us by leading global financial institutions underscores the long-term value and potential of India’s aviation infrastructure,” Bansal stated. “AAHL is well on its path to deliver exceptional customer experiences, leveraging technology for seamless operations, and prioritising sustainability and community engagement across its airport network.”
Expansion Plans and Passenger Growth Targets
Adani Airports, which handled 94 million passengers in the financial year ending March 2025, currently operates six airports and is developing the Navi Mumbai International Airport. The company aims to triple its passenger handling capacity to 300 million annually by 2040 through phased infrastructure development.
The Navi Mumbai International Airport, one of India’s largest upcoming aviation projects, is expected to begin operations shortly. In its first phase, it will have the capacity to manage 20 million passengers a year, with this figure projected to rise to 90 million in subsequent phases. The new facility is set to play a crucial role in easing pressure on Mumbai’s existing airport infrastructure.
Foray Into Ground Handling Services
The announcement of the fundraising comes as Adani Airports Holdings prepares to enter India’s airport ground handling sector. The company plans to establish a new business to bid for ground handling contracts at various airports, including Mumbai and Ahmedabad.
This move follows the exit of Turkish firm Celebi Airport Services Limited from the Indian market after its security clearance was revoked by the Bureau of Civil Aviation Security. The decision was reportedly taken amid geopolitical tensions after Turkey expressed support for Pakistan during a recent diplomatic conflict with India.
Celebi Aviation Holding, the parent company of the Indian ground handling operation, had been providing services at nine airports across the country, including major hubs in Delhi, Mumbai, and Bengaluru.
India’s ground handling policy mandates that major airports handling more than one million passengers annually must have at least three licensed ground handling agencies. Smaller airports are required to have a minimum of two service providers. Adani’s entry into this segment is part of its broader strategy to consolidate its presence in all allied airport services.
Context: India’s Expanding Aviation Market
India is one of the fastest-growing aviation markets globally, driven by a burgeoning middle class, increasing disposable incomes, and expanding connectivity. According to the Directorate General of Civil Aviation (DGCA), Indian airports collectively handled over 400 million passengers in the year ending March 2024, a figure expected to rise significantly in the coming years.
Private airport operators like Adani Airports Holdings play an increasingly vital role in supporting this growth by modernising infrastructure, enhancing passenger services, and developing new capacities.
Adani Enterprises’ stock edged up by 0.34% to ₹2,480 on the Bombay Stock Exchange (BSE) following news of the successful fundraising.
With India’s air travel demand on a steady upward trajectory and new airports like Navi Mumbai International Airport set to come online, the country’s aviation infrastructure is poised for major transformation in the coming decades.
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