Latest news with #AdaniAirportHoldingsLtd
Economic Times
4 days ago
- Business
- Economic Times
$1 billion boarding pass? Adani Airport may raise equity from international investors as it charts expansion route
Mumbai: Adani Airport Holdings Ltd (AAHL) may raise around $1 billion in equity from international investors as it evaluates future growth plans and potential acquisitions, according to Adani Group CFO Jugeshinder would be the first time the airport business is raising equity capital from an external investor. "Everyone wants to do airports with us - investors from the US, Middle East and Australia have evinced interest in investing in the business," said Sagar Adani, nephew of group chairman Gautam Adani. Sagar Adani is also executive director, Adani Green Energy. The airport unit, fully owned by Adani Enterprises Ltd, is valued at around $20 billion, according to sources, higher than GMR Airport's market capitalisation of $10.4 billion. GMR runs airports in New Delhi, Hyderabad, Goa and Nagpur among others. As per the Directorate General of Civil Aviation, India recorded a 10.35% annual growth in domestic air passenger traffic in FY25. Airlines carried a total of 14.54 million passengers. CareEdge Ratings projects air passenger traffic in India to rise at a 9% compounded annual growth rate (CAGR) between FY25 and FY27, taking the volume to 485 airports in Mumbai-Navi Mumbai and other key locations, AAHL aims to ride on this expansion to triple capacity over the next decade and a India's largest private airport operator, runs seven of them currently — Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram — and is putting the finishing touches to the one at Navi Mumbai that's set to open in company is currently fully funded but may look to bring in additional capital depending on timing and market conditions.'We also have not decided whether we want to do it or not yet. So what we are thinking about is — is it a good idea for us to do it right now or should we wait two-three years once the build-out happens and the value is established,' said Adani CFO Singh. GMR Group had secured a ₹6,300 crore investment from Abu Dhabi Investment Authority (ADIA) to reduce debt at its promoter entity GMR Enterprises (GEPL) in January. 'We are open to acquisitions in India and internationally,' Singh said. 'For international deals, it will have to be an international city pair which caters to an Indian diaspora. If there's a lot of Indian passengers going to a specific airport in some other city in the world, and if that opportunity comes up, we will look at that.'The airport business will be hived off as a separate subsidiary in the next two-three years, followed by served 94 million passengers in FY25, up 7% from FY24.
Time of India
4 days ago
- Business
- Time of India
$1 billion boarding pass? Adani Airport may raise equity from international investors as it charts expansion route
Mumbai: Adani Airport Holdings Ltd (AAHL) may raise around $1 billion in equity from international investors as it evaluates future growth plans and potential acquisitions, according to Adani Group CFO Jugeshinder Singh. This would be the first time the airport business is raising equity capital from an external investor. "Everyone wants to do airports with us - investors from the US, Middle East and Australia have evinced interest in investing in the business," said Sagar Adani, nephew of group chairman Gautam Adani. Sagar Adani is also executive director, Adani Green Energy. The airport unit, fully owned by Adani Enterprises Ltd, is valued at around $20 billion, according to sources, higher than GMR Airport 's market capitalisation of $10.4 billion. GMR runs airports in New Delhi, Hyderabad, Goa and Nagpur among others. As per the Directorate General of Civil Aviation, India recorded a 10.35% annual growth in domestic air passenger traffic in FY25. Riding expansion wave Airlines carried a total of 14.54 million passengers. CareEdge Ratings projects air passenger traffic in India to rise at a 9% compounded annual growth rate (CAGR) between FY25 and FY27, taking the volume to 485 million. With airports in Mumbai-Navi Mumbai and other key locations, AAHL aims to ride on this expansion to triple capacity over the next decade and a half. AAHL, India's largest private airport operator, runs seven of them currently — Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram — and is putting the finishing touches to the one at Navi Mumbai that's set to open in August. The company is currently fully funded but may look to bring in additional capital depending on timing and market conditions. 'We also have not decided whether we want to do it or not yet. So what we are thinking about is — is it a good idea for us to do it right now or should we wait two-three years once the build-out happens and the value is established,' said Adani CFO Singh. GMR Group had secured a ₹6,300 crore investment from Abu Dhabi Investment Authority (ADIA) to reduce debt at its promoter entity GMR Enterprises (GEPL) in January. 'We are open to acquisitions in India and internationally,' Singh said. 'For international deals, it will have to be an international city pair which caters to an Indian diaspora. If there's a lot of Indian passengers going to a specific airport in some other city in the world, and if that opportunity comes up, we will look at that.' The airport business will be hived off as a separate subsidiary in the next two-three years, followed by listing. AAHL served 94 million passengers in FY25, up 7% from FY24.
United News of India
06-06-2025
- Business
- United News of India
Akasa Air to operate flights from Navi Mumbai International Airport
Mumbai, June 6 (UNI) Akasa Air, in association with Adani Airport Holdings Ltd (AAHL), has emerged as the first airlines to announce its operational presence at the upcoming Navi Mumbai International Airport (NMIA), which is slated to be inaugurated in August, sources in the aviation industry said on Friday. Akasa plans to introduce more than 100 weekly domestic departures initially, which would increase to over 350 weekly flights, both domestic and international, by the winter schedule. The network strategy of Akasa Air from NMIA includes robust domestic connectivity and scheduled international expansion into major Middle Eastern and Southeast Asian nations. The airline aims to develop up to 10 parking bases by 2027, aligning with its growth path and regional expansion objectives. UNI AAA PRS
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Business Standard
06-06-2025
- Business
- Business Standard
Akasa Air signs pact with Adani Airport to launch operations from NMIA
Akasa Air on Friday signed an agreement with Adani Airport Holdings Ltd (AAHL) to commence operations from the upcoming Navi Mumbai International Airport (NMIA), making it the first airline to confirm services from the new airport. The carrier will initially operate over 100 domestic flights per week from NMIA. This is expected to increase to more than 300 domestic and 50 international departures per week by the winter schedule. The expansion is part of Akasa Air 's broader strategy to establish up to 10 aircraft parking bases by 2027 and foray into key international markets across the Middle East and Southeast Asia. Vinay Dube, founder and CEO of Akasa Air, said, 'Our foray into Navi Mumbai International Airport is a strategic step aligned with Akasa Air's long-term vision to build a future-ready airline that is responsive to the evolving needs of Indian travellers. No airline in India will have a larger percentage of its fleet and operations based out of NMIA than Akasa Air.' 'NMIA represents the future of Indian aviation,' Dube said. 'Our presence from the outset aligns with our vision to serve India's emerging demand with agility, accessibility, and customer-first innovation. We appreciate our continued partnership with Adani Airports.' Arun Bansal, CEO of Adani Airport, welcomed the collaboration. 'We are pleased to welcome Akasa Air as one of the inaugural airline partners at Navi Mumbai International Airport. Their rapid growth and forward-looking approach make them an ideal partner in NMIA's journey to becoming a key domestic and international hub.' The Navi Mumbai International Airport has been designed to function as a world-class aviation hub with modern infrastructure and premium passenger amenities. In its first phase, NMIA will be capable of handling 20 million passengers and 500,000 metric tonnes of cargo annually. Once fully operational, the capacity is expected to rise to 90 million passengers and 3.2 million metric tonnes of cargo. The airport will operate in tandem with Chhatrapati Shivaji Maharaj International Airport (CSMIA), forming a dual-airport system for Mumbai. This is expected to ease congestion, improve connectivity, and enhance the overall passenger experience while unlocking new opportunities for economic growth across Maharashtra.
Time of India
29-05-2025
- Business
- Time of India
'Bringing parity': Adani pushes for one calculated tariff at Mumbai, Navi Mumbai airports
This is a representative AI image NEW DELHI: Adani Airport Holdings Ltd (AAHL) has requested the government to treat Mumbai and Navi Mumbai airports as a single unit for calculating tariffs for passengers and airlines, according to documents reviewed by The Economic Times. Should the government approve this proposal, it would establish uniform charges across both airports, potentially increasing traffic flow at Navi Mumbai. This outcome is particularly significant for AAHL, considering their Rs 16,700 crore investment in the facility's construction. Despite AAHL's ownership of both airports, Navi Mumbai is set to have notably higher passenger fees, landing and parking charges. This disparity could discourage airlines from transitioning to the new airport, which is scheduled to commence commercial operations in July. The organisation references a 2021 amendment to the AERA Act that permits airport grouping and unified designation. This legislation was initially implemented to facilitate privatisation of smaller, unprofitable airports by combining them with larger, regional counterparts to enhance investor appeal. 'Since there has been a large capital invested in Navi Mumbai, which is a green field airport, naturally tariff at the airport will be significantly higher than Mumbai, which is an established airport where capex is low and there are depreciating assets,' a source familiar with the matter told ET. 'If both the airports' tariffs are calculated as one unit, the charges at both airports will be average of the two, bringing parity,' the source added. The airport is set to launch commercial operations in late 2025, with IndiGo becoming the first airline to begin flights. The airline will start with 18 daily departures to over 15 cities, scaling up to 79 daily departures—including 14 international flights—by November 2025, and further doubling to 140 daily departures by November 2026. The opening comes as Mumbai International Airport Ltd (MIAL) plans to begin the revamp of Terminal 1 in October, prompting the relocation of around 15 million passengers to Terminal 2 and Navi Mumbai airport. Sources say one reason Adani Airport Holdings Ltd (AAHL) is encouraging more airline operations at Navi Mumbai is due to the difference in revenue sharing agreements. MIAL pays 38.7% of its revenue to the Airports Authority of India (AAI), while Navi Mumbai International Airport Ltd (NMIAL) only pays 12.6% to Maharashtra's CIDCO. The greenfield Navi Mumbai airport, spanning 1,160 hectares, will initially handle 20 million passengers and 0.5 million tonnes of cargo annually, with a long-term capacity of up to 90 million passengers and 3.2 million tonnes of cargo. It will feature two parallel runways capable of simultaneous takeoffs and landings, including a 3,700-meter runway for large aircraft. The airport's launch is expected to ease congestion at Mumbai Airport and improve the overall passenger experience, creating a dual-airport system for India's financial capital. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
