Mumbai Airport Operator Secures $1 Billion Financing for Upgrades
Photo Credit: Chhatrapati Shivaji International Airport, Mumbai, India Chhatrapati Shivaji Internatonal Airport, Mumbai, India / David Wong
Skift Take
Adani landing two big funding deals back-to-back says a lot about how easily the group can tap into global money. And it’s happening just as India’s trying to catch up on airport infrastructure.
Indian airport operator Adani Airport Holdings has raised $1 billion to support the growth and improvement of Mumbai International Airport. The funding comes just weeks after the airport company secured $750 million from a group of global banks to upgrade six other airports across India.
Adani Airport Holdings manages seven Indian airports and is the country's largest airport infrastructure company, accounting for 25% of passenger footfalls and 33% of the country’s air cargo traffic.
The $1 billion is a mix of a $750 million bond sale and the option to raise another $250 million later. The funds will go toward “transforming the airports infrastructure through continued investments in modernization, capacity expansion, digitization, and technology integration,” Adani said in a statement.
