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Adani’s single ownership could lead to competition among airlines as opposed to separate airport operators vying with each other, Jefferies said in an April 18 note, citing its interaction with the management. The conglomerate expects effective slot allocation for new international carriers and non-aeronautical revenues to multiply, the brokerage said.
The “hub-and-spoke” strategy will aid overseas traffic by catering to demand from a broader catchment area, Jefferies said. The research firm cited the company’s plan to target foreign airlines with higher imbalances, such as carriers from the U.A.E., and prioritise those part of Star Alliance and One World.
Mumbai International Airport Ltd., which handled 45–49 million passengers a year, does not have capacity beyond 60 million, Jefferies said, adding that the company expects the traffic to nearly double by 2030 in the Mumbai Metropolitan Region.
Navi Mumbai International Airport Ltd., when fully operational, is estimated to cater to 90 million passengers a year, Jefferies said. The first of its four phases is scheduled to become operational by December 2024, with an initial capacity of 20 million passengers.
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