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The Adani Group, through its airport arm Adani Airport Holdings Ltd (AAHL), is India’s largest airport infrastructure operator.
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Indian billionaire Gautam Adani has expanded his business empire into several sectors, including cement, energy and others. He also runs several airports in India through Adani Airport Holdings Ltd (AAHL). Now, his Adani Group has plans to invest Rs 1 lakh crore in its airports business over the next five years, betting on sustained growth in India’s aviation sector, PTI reported.
“On the airport side, Rs 1-lakh crore in the next five years,” Jeet Adani, Director of Adani Airports and son of billionaire Gautam Adani, told PTI ahead of the start of commercial operations at Navi Mumbai International Airport on December 25.
General Adani Group’s expanding airport portfolio
Navi Mumbai International Airport will become the latest addition to the Adani Group’s expanding airport portfolio, further strengthening its presence in India’s aviation infrastructure. Besides the two airports at Mumbai, Adani Group operates six other airports at Ahmedabad, Lucknow, Guwahati, Thiruvananthapuram, Jaipur and Mangaluru.
The Navi Mumbai airport is scheduled to commence commercial operations on December 25. It is being developed by Navi Mumbai International Airport Ltd (NMIAL), in which the Adani Group holds a 74 per cent stake. Built at an initial cost of Rs 19,650 crore, the first phase will have a capacity to handle 20 million passengers annually. The airport has plans to scale up to 90 million passengers over time, easing capacity constraints at Mumbai’s existing airport. Adani Group had acquired the Mumbai airport from GVK Group.
General READ | Meet man who played key role in Reliance’s growth, ‘third son’ of Dhirubhai Ambani, very close to Mukesh Ambani, his business is…
The Adani Group, through its airport arm Adani Airport Holdings Ltd (AAHL), is India’s largest airport infrastructure operator. It controls a significant share of India’s air traffic, accounting for roughly 23 per cent of passenger movements and about 33 per cent of cargo traffic nationwide.
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