Business Upside

More
    IHQ Reviews Banner

    Adani Airports Has Received ECB Funding of $250 Million for Airport Expansion.

    Adani Airport Holdings Ltd (AAHL) is an Indian airport operator. It operates the Mumbai, Hyderabad, and Ahmedabad airports. AAHL also operates a 50% stake in the Bangalore airport, which it runs jointly with GVK Power and Infrastructure Ltd. The company was founded in 2019 by Gautam Adani to operate airports in India, and Malay Mahadevia is the company’s current CEO. It has been expanding rapidly into other areas such as renewable energy, coal mining, and shipping. AAHL in India is one of the largest port operators.

    The company board approved a Concession Agreement (CA) for three facilities in February 2020, and the approach to tackling started on October 31, 2020, at Mangaluru International Airport in Mangaluru, November 2, 2020, at Chaudhary Charan Singh International Airport in Lucknow, and November 7, 2020, at Sardar Vallabhbhai Patel International Airport in Ahmedabad.

    Adani Airport Holdings Ltd (AAHL) successfully closed a long-term mortgage

    With a solid financial structure, AAHL closed a $250 million long-term mortgage 3-year ECB facility with a consortium led by Barclays Bank PLC and Standard Chartered Bank (SCB). Additionally, the facility can raise an extra $200 million if necessary.

    By AAHL’s aim of offering a groundbreaking airport infrastructure platform, the financing structure allows for a sustainable capital strategy with the flexibility to reach international capital markets. The Adani airport portfolio’s entrance into B2C capital projects is being led by AAHL. Consumer convenience is at the heart of AAHL’s business, which operates through digital and physical channels.

    In an official statement, a spokesperson from AAHL stated, “We are focussed on delivering high-quality infrastructure access to our consumers both through physical and digital channels. The first phase of our capital management plan is now set in motion with the funding of AAHL, MIAL and NMIAL, and we will now focus on scaling up the airport business into one of the largest airport platforms globally. We are grateful to our stakeholders and consumers for their continued support and confidence in us.”

    This offering by AAHL is the initial step for the company as an effective capital management strategy. MIAL completed a $750 million leveraged buyout with Apollo earlier this week, and NMIAL received a USD 1.74 billion fund closure from the country’s banking system. Adani airport has accessed three separate sources of money, totaling $2.74 billion as a result.

    The Adani Airport Holdings Ltd (AAHL) is dedicated to providing travellers with premium quality airport infrastructure, delivering a secure and reliable airport experience. Adani Airports aims to redefine the city-airport relationship by constructing a shared capacity to meet the ever-changing global travel, work, and life needs.

    Conclusion

    Adani Airport Holdings Ltd (AAHL) is responsible for airport development, management, and operation. It typically owns the airport, and its services include staffing, maintenance, security, administration, and marketing of the airports they own or manage.

    Also Read: Lost a Baggage at the Airport: Sita’s Al-Enabled solution to the Rescue

    Spread the love
    - Advertisement -spot_img
    Josie Patra
    Josie Patra
    Josie Patra is a veteran writer with 21 years of experience. She comes with multiple degrees in literature, computer applications, multimedia design, and management. She delves into a plethora of niches and offers expert guidance on finances, stock market, budgeting, marketing strategies, and such other domains. Josie has also authored books on management, productivity, and digital marketing strategies.

    Latest news

    IHQ Reviews Banner

    Related news