HeadlinesBriefing favicon HeadlinesBriefing.com

Adani Group Expands International Airport Push After Legal Victory

Financial Times Companies •
×

The airports arm of Adani Group is accelerating its international expansion following the US Justice Department's decision to drop charges against Chairman Gautam Adani. Adani Airport Holdings, which currently operates only in India, earlier this year submitted a bid to operate Sicily's main airport. Jeet Adani, Gautam Adani’s younger son and company controller, stated the group would now “very selectively” pursue opportunities “of size and relevance”.

This international move comes as Adani Group explores a bid for Associated British Ports, Britain’s largest port operator, which would mark the conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomerate conglomer, the company is400. The number of students is 200. The number of girls is 120.

The number of boys is 80. The number of girls who are engineers is 60. The number of girls who are not engineers is 140.

The airports arm of Adani Group is planning a push into the international market following the US Justice Department's decision to drop charges against Indian conglomerate chairman Gautam Adani. Adani Airport Holdings, which currently operates only in India, earlier this year submitted a bid to operate Sicily's main airport. Jeet Adani, Gautam Adani's younger son and company controller, told the Financial Times the group would now “very selectively” seek other opportunities “of size and relevance”.

This overseas expansion comes as Adani Group explores making a bid for Associated British Ports, Britain's largest port operator, in what would be its first UK investment. A group of global and domestic investors, including Black Rock and Temasek, will invest about $1bn in Adani Airport for a 5.54 per cent share, valuing it at $18bn. Jeet Adani told the FT the $1bn investment would primarily be used to increase Adani Airport's footprint within India, where it plans to increase the total annual capacity of its eight airports over the next five years to 200mn passengers from the current 120mn.

Adani said the group would also bid for the 11 airports the Indian government is planning to offer under a 50-year public-private partnership lease model. The US Department of Justice announced in May it was dropping charges against Gautam Adani and his nephew Sagar Adani related to an alleged bribery scheme over a solar power project. Adani Airport made winning bids for all six airports offered by the Indian government under a similar structure in 2019.

It has since acquired Mumbai's main airport and built a new one near the city, making it India's largest private operator. The civil aviation ministry recently said it would cap the number of airports awarded to a single bidder to mitigate risks of market concentration.