GMR Airports Infrastructure Limited has entered into an agreement with Fraport AG Frankfurt Airport Services Worldwide to acquire Fraport’s 10% stake in the Delhi International Airport. With this, GMR will hold a 74% equity stake in the airport, while the remaining 26% stake will continue to be with Airports Authority of India (AAI).
GMR is acquiring the stake for $126 million.
The GMR group operates three airports in India: Delhi International Airport, Hyderabad International Airport, and Manohar International Airport, Goa. It is also currently developing an international greenfield airport in Andhra Pradesh.
Rise in Airport Operators’ Revenue: Indian airport operators are expected to witness a 15% to 17% increase in their revenue during the ongoing 2024-25 financial year, according to credit ratings agency ICRA. Increase in domestic and international passenger traffic, rise in tariffs at some of the major airports, and amplification of non-aeronautical revenues are expected to drive the revenue growth.
Earlier, credit ratings agency CRISIL also said that an increase in passenger volumes will lead to an increase in aeronautical revenue, such as fees collected from passengers, airlines and cargo operators for use of infrastructure. Non-aeronautical revenue from sources such as advertising, retail, lounge and duty-free shops will also increase.
The Indian aviation industry has recorded its highest-ever domestic passenger traffic for a half year. Between January and June 2024, Indian airlines carried 79.35 million passengers, according to data from Indian aviation watchdog Directorate General of Civil Aviation (DGCA). This was an increase of over 4% from the previous year.
India has also become the third-largest domestic aviation market, after the U.S. and China, according to data by aviation analytics firm OAG. Over the past 10 years, the Indian domestic market grew at an annual rate of 6.9%.
Furthermore, the annual passenger capacity at Indian airports is set to increase by 60 million, after Prime Minister Narendra Modi inaugurated new terminal buildings at 12 Indian airports earlier this year.
These factors are leading to a growth in the airport business, including development of more airports. Since 2014, the number of airports in India has gone up from 74 to 157 currently. Investments in airports is also increasing with Airports Authority of India (AAI) planning to infuse INR 300 billion ($3.6 billion) over the next five years to build and revamp the airport infrastructure in the country.
PhonePe, Liquid Group Collaborate to Expand UPI in Singapore
Indian fintech company PhonePe has collaborated with its Singapore counterpart Liquid Group to expand its network in Singapore. The partnership will allow PhonePe users to pay at Liquid Group’s merchant base in Singapore by scanning the payment QR codes using the PhonePe app.
The QR payment codes will be available at tourist-centric locations, including Changi Airport, duty-free shops, restaurants, bars, sightseeing spots, and transportation services, the companies said in a statement.
However, the move has also led Liquid Group’s merchants to accept UPI as a payment method. Indian travelers will, therefore, be able to make payments through these QR codes using any of the UPI payment apps for transactions.
Thomas Cook India Partners with Malaysia Airlines
Thomas Cook India and its group company SOTC Travel have entered into a two-year partnership with Malaysia Aviation Group, which operates Malaysia Airlines. The two companies will carry out joint consumer promotions and marketing communications to attract Indian tourists who are interested in making multiple trips a year.
As part of the agreement, Thomas Cook and SOTC Travel will create travel options including group and customized holidays to Malaysia, combo holidays that include a stopover in Malaysia, and group and customized holiday packages that include Malaysia Airlines’ airfares.
Malaysia is offering visa-free travel to Indians, and is targeting 1 million travelers from the country by the end of 2024. In April 2024 alone, 295,000 Indian tourists visited Malaysia, up 80% from the same month last year. For context, this figure is more than the number of Indian tourists to Malaysia in the first six months last year: 283,885.
Adani Airports Launches ‘Aviio’ App for Real-Time Information
Adani Airports has launched an app called ‘aviio’ to provide passengers with real-time information about airport access. Through aviio, the company will share data regarding security checks, waiting time, gate change, bags on the belts, and more with passengers in real time.
The Adani group is preparing to list the airport business – Adani Airport Holdings – by fiscal 2028. It operates seven airports across India at present, and in March 2025, it is set to commence operations at the Navi Mumbai International Airport in Mumbai. It currently controls more than 50% of top 10 domestic routes, accounting for about 25% of the air traffic in India.
According to reports, the group is also looking to invest around INR 1,750 billion ($21 billion) in its airport business over the next 10 years. This is significantly higher than its earlier plan to invest INR 600 billion ($7.25 billion) over the next five to 10 years.
Israel Tourism Ministry Targets MICE, Luxury Indian Travelers
Israel’s Ministry of Tourism is targeting the luxury, business, and MICE (meetings, incentives, conferences, and exhibitions) travelers from India, for which it participated in a three-day travel mart held in Delhi. It highlighted its MICE facilities and luxury accommodations to Indian travel stakeholders.
It also provided information about the current situation in the country, along with safety measures and travel guidelines. “India is one of Israel’s top four source markets for outbound tourism,” said Amruta Bangera, Director of Marketing, Israel Ministry of Tourism, India.