India deserves three national carriers, says Adani Airports CEO: Is Adani the answer?

India needs a third strong national airline alongside IndiGo and Air India to serve its growing aviation market, said Arun Bansal, CEO of Adani Airport Holdings Ltd (AAHL).

Speaking at the Aviation India Summit, Bansal said: “I consider IndiGo and Air India as national airlines, and we need a third national airline.”

Asked about Adani’s plans to enter the airline business, Bansal said: “Adani Airport Holdings is different from the Adani Group, and I believe that India deserves three national carriers. However, it is never a good strategy to compete with our customers”.

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The Adani Group, the country’s largest private airport operator, has approached the government to seek a relaxation of the rules that would pave the way for its entry into the airline sector.

If permitted, Adani’s entry could challenge the dominance of IndiGo and Air India in India’s aviation market.

IndiGo founder Rahul Bhatia said such a move would create a major conflict of interest and work against consumers’ interests over time. Akasa remains a smaller player, with 45 aircraft and a market share below 5%, while SpiceJet’s market share has fallen sharply.

In a letter to the Ministry of Civil Aviation, the Adani Group proposed amending a clause that prevents the operators of Delhi and Mumbai airports from holding more than a 10% stake in a scheduled airline. The GMR Group, which operates Delhi airport, is also subject to this restriction.

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The Adani Group has repeatedly said it is not interested in the airline business because it does not fit its approach to capital discipline. Jeet Adani, director at AAHL, has also ruled out entering the sector, but with a caveat.

“I would say that there is nothing that we won't consider. However, legally we are not allowed,” he told reporters before the launch of Navi Mumbai airport in December 2025.