Thiruvananthapuram Airport to undergo massive development, Adani Group to spend Rs 1.75 lakh crore for development of airports

THIRUVANANTHAPURAM: The Adani Group is all set to implement massive development projects in its airports, including Thiruvananthapuram International Airport. Adani Group Chief Financial Officer Jugeshinder Singh said that the company plans to spend Rs 1.75 lakh crore for the development of the six airports over the next ten years. Adani Airport Holdings will be handling the investments for this.

The Adani Group currently operates seven airports across India- Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Of these, development works have already started at Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati airports.

In the past, the Adani Group had been implementing development projects at the airports by targeting only passengers. Sources said that it will now implement projects targeting non-passengers as well to increase non-aero revenue. Steps for this have already been initiated at various airports.

The group aims to generate around 75% additional revenue from the non-aero segment of airports. Funding for development activities will be directed towards this goal. At present, the aero-to-non-aero revenue ratio stands at 75:25 at six airports, while Mumbai airport maintains a 50:50 ratio.

The company will implement development projects focusing on gateway development, regional expansion and digital technology. It promises large food outlets, star hotels and premium office facilities near the terminals. It is hoped that the diversification of revenue-generating projects and the central government's support for the public-private partnership model will lead to a boom in the Indian aviation market. India is currently the third-largest aviation market in the world.

It was earlier reported that the Adani Group is preparing for massive development by making additional investments in projects, including Thiruvananthapuram Airport and Vizhinjam Port.