Adani unveils ₹26,000-cr aviation infra building plans

The Adani Group has decided to invest ₹26,000 crore in the construction of aviation infrastructure across the state as the group has already won bids on privatization of six airports operated by the Airports Authority of India (AAI) by outbidding older players including the GMR Group. It also outbid competitors in Ahmedabad, Lucknow and Mangaluru. The group looks at generating revenue from airports very differently and the bids are not aggressive, if one accounts for non-passenger revenues, said CFO, Adani Enterprises, Jugeshinder Singh, adding that the company placed bids only with relation to the per passenger bid to AAI, which will obviously enable the group to get a benefit of 30 million visiting people. But the group is still waiting clarity on the revenue-sharing models of the airports before finalizing a funding strategy. As per the airport concession agreements, the company is obliged to spend approximately ₹7,000 crore airport capex, plus there is the upfront payment that it has to make to AAI.