Adani to bid for 11 airports as part of $11 billion expansion strategy
Jeet Adani clarified that Adani Enterprises does not plan to enter the airline business, citing thin margins.
- Dec 19, 2025,
- Updated Dec 19, 2025 4:17 PM IST
Adani Enterprises has confirmed its plans to bid for all 11 airports that the Indian government intends to lease to private operators. This is part of an $11 billion strategy to expand airport infrastructure over the next five years. The move comes amid rapid growth in India's air travel sector.
Jeet Adani, director at Adani Airports Holdings Limited (AAHL), said, "We will be bidding for all (11) of them.” These include key locations such as Amritsar and Varanasi. Currently, Adani Airports manages seven airports across India and is preparing to launch its first greenfield airport near Mumbai.
The company has become the largest airport operator in India by number of airports. The aviation sector is witnessing competition from major players like Adani and GMR, as passenger numbers reached approximately 174 million in 2024, a 10 per cent increase from the previous year, according to the International Air Transport Association. Indian airlines have also placed orders for over 1,300 aircraft since 2023.
Jeet Adani clarified that Adani Enterprises does not plan to enter the airline business, citing thin margins. "You need to have a certain mindset to run an airline. I don't think we have that mindset. Our comfort and our core competency is in creating hard assets on the ground, long gestation assets, running them quite efficiently," he said
On the financial side, he noted that AAHL is largely EBITDA positive but requires more cash due to ongoing capital expenditure. Regarding the future, he said there is no fixed timeline for a public listing of AAHL. An initial public offering or de-merger will depend on achieving milestones, including the business becoming cash positive. When asked about valuation, he said the company will consider comparable multiples but has not set a figure.
(With agency inputs)
Adani Enterprises has confirmed its plans to bid for all 11 airports that the Indian government intends to lease to private operators. This is part of an $11 billion strategy to expand airport infrastructure over the next five years. The move comes amid rapid growth in India's air travel sector.
Jeet Adani, director at Adani Airports Holdings Limited (AAHL), said, "We will be bidding for all (11) of them.” These include key locations such as Amritsar and Varanasi. Currently, Adani Airports manages seven airports across India and is preparing to launch its first greenfield airport near Mumbai.
The company has become the largest airport operator in India by number of airports. The aviation sector is witnessing competition from major players like Adani and GMR, as passenger numbers reached approximately 174 million in 2024, a 10 per cent increase from the previous year, according to the International Air Transport Association. Indian airlines have also placed orders for over 1,300 aircraft since 2023.
Jeet Adani clarified that Adani Enterprises does not plan to enter the airline business, citing thin margins. "You need to have a certain mindset to run an airline. I don't think we have that mindset. Our comfort and our core competency is in creating hard assets on the ground, long gestation assets, running them quite efficiently," he said
On the financial side, he noted that AAHL is largely EBITDA positive but requires more cash due to ongoing capital expenditure. Regarding the future, he said there is no fixed timeline for a public listing of AAHL. An initial public offering or de-merger will depend on achieving milestones, including the business becoming cash positive. When asked about valuation, he said the company will consider comparable multiples but has not set a figure.
(With agency inputs)