Adani Airports raises $750 mn from global banks to finance expansion

External commercial borrowings will be used to refinance debt and improve six airports as company seeks to triple passenger capacity by 2040

Adani Airports (AAHL) has raised $750 million offshore to serve debt and fund expansion as it looks to triple its passenger-handling capacity by 2040, said the company on Wednesday. 

The funding in the form of external commercial borrowings (ECB) was made by a consortium led by First Abu Dhabi Bank, Barclays, and Standard Chartered Bank. The deal will help refinance $400 million of existing obligations and the rest earmarked for infrastructure upgrades and non-aeronautical business growth at six airports, said a statement. 

AAHL is a subsidiary of Adani Enterprises and it is India’s largest private airport operator. It is channeling fresh capital for improving its airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. 

It is also working to scale up ancillary revenue streams of duty-free retail, food and beverages, and other airport services.   

“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,” said Arun Bansal, chief executive officer of AAHL. 

“The trust placed in us by leading global financial institutions underscores the long-term value and potential of India’s aviation infrastructure,” he said. 

The company handled 94 million passengers in FY25, compared to a capacity of 110 million. It aims to increase the number to 300 million by 2040, through phased expansion. The opening of Navi Mumbai International Airport is expected to add 20 million in capacity in its first phase, eventually ramping up to 90 million annually, the company said. 

AAHL operates eight airports, including a controlling stake in Mumbai International Airport and its facility in Navi Mumbai will be ready by August. The portfolio represents 23 per cent of India’s passenger traffic and 29 per cent of cargo throughout, making the company a critical player in India’s aviation infrastructure.  

Earlier, US-based financial services giant Apollo Global Management was in advanced talks to invest $750 million in bonds to be issued by Mumbai International Airport Limited (MIAL), according to people familiar with the matter.