INDIA. Adani Airports Holdings Ltd (AAHL), India’s largest private airport operator and a subsidiary of Adani Enterprises Limited, has raised US$750 million via External Commercial Borrowings (ECB) from a consortium of international banks.
The proceeds will partly be used to refinance existing debt and invest in infrastructure upgrades and capacity expansion across its six Indian airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram.
Additionally AAHL plans to scale its non-aeronautical businesses, including specialist and duty-free retail, food & beverage and other services across the airport network.
An Adani Airports spokesperson told The Moodie Davitt Report the funds would be deployed wherever the company’s business grows – both in India and internationally.
AAHL served 94 million passengers in FY 2024-25 with an overall capacity of 110 million. It aims to triple capacity to 300 million passengers per annum by 2040 through phased development.
As part of this roadmap, Navi Mumbai International Airport is expected to be operational shortly, adding 20 million passengers in the first phase, with capacity expanding up to 90 million annually in a phased manner, significantly boosting the Mumbai region’s aviation infrastructure.
The transaction was led by First Abu Dhabi Bank, Barclays PLC and Standard Chartered Bank.
“The trust placed in us by leading global financial institutions underscores the long-term value and potential of India’s aviation infrastructure,” said AAHL CEO Arun Bansal.
“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.
“As we continue our journey, AAHL remains committed to being the Gateway to Goodness, delivering customer-centric solutions and building world-class airport infrastructure that sets global benchmarks in service and sustainability.” ✈
About AAHL
AAHL was incorporated in 2019 as a 100% subsidiary of Adani Enterprises Ltd, the flagship company of the Adani Group.
In line with its vision to be the global leader in integrated infrastructure and transport logistics, the Adani Group made its maiden venture into the airports sector by emerging as the highest bidder for the operation, management and development of six airports: Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram, and signed concession agreements with Airports Authority of India for all six airports.
AAHL also holds 74% in Mumbai International Airport Ltd, which, in turn, holds 74% in Navi Mumbai International Airport Ltd. With eight airports in its management and development portfolio, AAHL is India’s largest airport infrastructure company, accounting for 23% of passenger footfalls and over 29% of the country’s air cargo traffic.
