The Adani group plans to adopt the hub-and-spoke model and integrate its portfolio of Mumbai and six other smaller airports — Ahmedabad, Lucknow, Mangalore, Jaipur, Trivandrum, and Guwahati — for which it has won development and operation rights over a 50-year lease.
“We see our airport portfolio as a critical lever to help converge tier-1 cities with tier-2 and -3 ones in a hub-and-spoke model,” Adani group Chairman and promoter Gautam Adani said. The firm signed a deal with the GVK group two days back to acquire 75 per cent stake in Mumbai International Airport (MIAL). With this, it now also owns the upcoming airport in Navi Mumbai.
The Ahmedabad-based conglomerate — with investments in logistics, transportation, utilities, and energy — surprised the industry with aggressive bids for the smaller airports.
