Adani Airports Holdings Ltd (AAHL), the airport vertical of Adani Enterprises and India’s largest private airport operator, has secured $750 million in funding via External Commercial Borrowings (ECB) from a consortium of global lenders, the company announced on Tuesday. The financing deal marks a strategic push to both refinance existing debt and fund the next wave of infrastructure upgrades across its network.

Led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank, the funding package will be used to retire $400 million in legacy debt and deploy the remainder toward capital expenditure at six key airports—Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram—and to expand non-aeronautical revenue streams including retail, duty-free, and F&B operations.

“This funding round reflects the strong confidence of global financial institutions in the future of India’s aviation sector and our role in shaping it,” said Arun Bansal, CEO of AAHL. “Our focus remains on delivering exceptional customer experiences, embracing technology for operational efficiency, and prioritising sustainability.”

AAHL handled 94 million passengers in FY25, with a total capacity of 110 million. The company now targets a threefold increase, aiming for 300 million passengers annually by 2040. A significant boost to this vision will come from the imminent launch of Navi Mumbai International Airport, which will add 20 million passengers in its first phase and scale up to 90 million in phases.

Part of the Adani Group's strategic foray into integrated infrastructure and transport logistics, AAHL was established in 2019 and now oversees eight airports, including a 74% stake in Mumbai International Airport Ltd and Navi Mumbai International Airport Ltd. The platform accounts for 23% of India’s passenger traffic and 29% of air cargo volume.

It had won bids for the operation, management, and development of six airports—Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram—through concession agreements with the Airports Authority of India.

Gautam Adani announced in March this year that the Navi Mumbai International Airport will begin commercial operations from June this year, rescheduled from the earlier launch date of April 17. The Navi Mumbai International Airport is being developed in five phases, ultimately expected to handle over 90 million passengers annually.

Legal advisors on the deal included Latham and Watkins LLP and Linklaters LLP (English law), and Cyril Amarchand Mangaldas and TT&A (Indian law).