Airports to shape strategic adjacencies for Adani Group’s B2B businesses

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September 3, 2020 1:09 AM

The chairman said India’s top 30 cities were expected to require two airports each and Adani Airports saw itself well-positioned to help build the infrastructure platform required.

As part of the deal it will also have control of 74% in the Navi Mumbai airport project.As part of the deal it will also have control of 74% in the Navi Mumbai airport project. (Representative image)

Adani Group chairman Gautam Adani on Wednesday said the addition of the Mumbai International Airport (Mial) and the Navi Mumbai International Airport to the company’s existing portfolio of six airports would help shape and create strategic adjacencies for the other B2B businesses of the group.

“This acquisition helps us redesign the way we will serve our customer base and bridge our B2C and B2B business models. From a medium- to long-term perspective, Mumbai is well on its way to become one of the top five global metropolitan centres of the 21st century,” Adani said in a statement.

The chairman said India’s top 30 cities were expected to require two airports each and Adani Airports saw itself well-positioned to help build the infrastructure platform required. The Adani Group is set to emerge as the largest player in the airports business in terms of number of projects as it struck a deal on Monday to acquire the controlling 74% stake in Mial from the GVK Group and other partners. As part of the deal it will also have control of 74% in the Navi Mumbai airport project.

With this deal, the Adani Group, which has recently bagged the rights to operate, develop, and maintain six new airports under public-private partnership (PPP) model, will emerge as the country’s second- largest airport operator in terms of number of passengers handled, only after the GMR Group, which operates the Delhi and Hyderabad airports. If Adani’s seven airports, including Mail, is taken into account, they handled a total of 75 million passengers in FY20. GMR’s Delhi and Hyderabad handled 85 million passengers in the same period.

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