Adani Airports Raises $750 Million Through ECB For Expansion & Upgrades

Adani Airports Holdings Ltd (AAHL), India’s largest private airport operator and a subsidiary of Adani Enterprises Limited (AEL), announced on Wednesday that it has secured $750 million via External Commercial Borrowings (ECB) from a consortium of international banks.

The funds will, however, be utilised to refinance existing debt of $40 million, invest in infrastructure enhancements, and expand capacity across six airports:

• Ahmedabad,
• Lucknow,
• Mangaluru,
• Jaipur,
• Guwahati, and
• Thiruvananthapuram

Additionally, the investment will support growth in non-aeronautical sectors such as retail, food and beverages, duty-free, and other services throughout the airport network.

Arun Bansal, CEO of AAHL, stated, “The trust placed in us by leading global financial institutions underscores the long-term value and potential of India’s aviation infrastructure. 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,” he further asserted.

The borrowing was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank.

AAHL served 94 million passengers in FY 2024–25, with a total capacity of 110 million passengers.

Future Growth Plans

The company, however, aims to triple this capacity to 300 million passengers annually by 2040 through phased development.

As part of this plan, the Navi Mumbai International Airport is expected to become operational soon, initially handling 20 million passengers, with capacity projected to increase to 90 million per year over time, significantly enhancing Mumbai’s aviation infrastructure.

AAHL holds a 74 per cent stake in Mumbai International Airport Ltd, which in turn owns 74 per cent of Navi Mumbai International Airport Ltd.

AAHL manages and develops eight airports, making it India’s largest airport infrastructure company. It handles 23 per cent of passenger traffic and more than 29 per cent of the country’s air cargo volume.

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