Adani Group and GMR Airports Ltd are soon likely to have their own airlines as the centre has initiated talks on a policy change allowing airport operators to own and run airlines, a report by the Economic Times said.
Under the current rules, the operators of airports in Delhi and Mumbai are not allowed from owning more than 10% stake in any airline.
The policy aims to broaden competition in the market at a time when IndiGo and Air India control nearly 90% of domestic capacity.
The deliberations are underway within India’s Ministry of Civil Aviation, and any waiver is expected to require legal clearance from the law ministry as well as approval of the federal Cabinet led by Prime Minister Narendra Modi, the report said.
A relaxation of ownership restrictions would allow the Adani Group, whose unit operates the Mumbai airport and seven others, and GMR Airports, which manages the New Delhi airport and four additional facilities in India, to own carriers.
On a global platform, the airport-airline joint ownership has achieved limited success.
Strict public ownership of major airfields and Federal Aviation Administration revenue-diversion laws in the United States (US) has effectively prevent local governments from channeling airport income into airline ventures.
Further in the European Union, joint ownership is technically allowed, but aggressive antitrust enforcement makes it functionally unviable.
GMR Airports Limited has recently reported a consolidated net profit of Rs 400.49 crore for Q4 FY26, rebounding from a net loss of Rs 252.66 crore in Q4 FY25. It’s Revenue rose 37.54% YoY to Rs 3,938.16 crore, with EBITDA climbing 38% to Rs 1,549.42 crore.