Karan Adani, who is is the son of Adani group chairman Gautam Adani, recently announced that the Adani Group intends to invest ?60,000 crore in its airport business over the next ten years. This amount is besides the ?18,000 crore that has been already invested in building Navi Mumbai Airport's initial phase.
According to Karan Adani, who is managing director of Adani Ports & SEZ Ltd., the funds will be used for city-side infrastructure like hotels and shopping centers as well as runways, taxiways, aircraft parking stands, and terminals.??
He anticipates a shift in traffic patterns. "I think the mode of air connectivity where international travel is primarily happening through the metro hubs will fundamentally change," Adani said, as per ET report. "We see these airports becoming major international hubs in the future where international travel will increase exponentially."
In 2019, the Adani Group secured the privileges to manage six airports: Mangalore, Thiruvananthapuram, Guwahati, Jaipur, Lucknow, and Ahmedabad. It bought Mumbai and the future Navi Mumbai Airport from the GVK Group in 2021.?
So, at present, the list of 8 airports under Adani group, are:
1.Mangalore
2.Thiruvananthapuram
3.Guwahati
4.Jaipur
5.Lucknow
6.Ahmedabad
7.Mumbai?
8.Navi Mumbai
Also Read:?List Of All Companies That Come Under?Adani?Group
"With our network of airports, we will also be able to work seamlessly with airlines to build more direct domestic connectivity," he said.?The Adani group also plans to list its airport business through?IPOs?once it becomes?profitable.
According to Adani Airport Holdings CEO Arun Bansal, the group, which consists of eight airports, is getting ready to expand capacity for 250–300 million passengers by 2040. That represents an increase from roughly 73 million at the seven that are presently in use.?
"Only around 300 million Indians out of a 1.4 billion population are flying today," Bansal said. "Fleet orders placed by airlines indicate that 700 planes that are in the Indian civil aviation fleet will rise to 3,000 by 2030."
This will mean a quantum jump in the number of people travelling by air. "This 300 million is going to become a billion plus passengers soon," Bansal said. "Our planning always is based on how we see it in 2033-35 rather than next year, because that's how the capex cycle depends. This capacity forecast may look big for now but our philosophy is to make the infrastructure for the future so we don't catch up."
Also Read:?How Gautam Adani Earns Money: Inside His Net Worth
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