Adani Airports Holdings Ltd (AAHL), India’s largest private airport operator and a subsidiary of Adani Enterprises Limited, has raised $750 million via External Commercial Borrowings (ECB) from a consortium of international banks. The transaction was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank.
The proceeds will be used to refinance existing debt, invest in infrastructure upgrades, and capacity expansion across the six airports, viz. Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram; scale the non-aeronautical businesses, including Retail, F&B, Duty Free and services across the airport network.
AAHL served 94 million passengers in FY 2024–25 with an overall capacity of 110 million passengers, further it aims to triple capacity to 300 million passengers per annum by 2040 through phased development. As part of this roadmap, the 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.
What Else?
“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 prioritizing sustainability and community engagement across its airport network,” said Arun Bansal, CEO of AAHL. “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 said.
Latham and Watkins LLP and Linklaters LLP acted as English Law counsel to the transaction, Cyril Amarchand Mangaldass and TT&A acted as Indian law counsel to the transaction.
