Adani Airports advances in race to buy Italy's Catania airport stake: Report

Adani Airport Holdings has advanced to the second round of the bidding process for the privatisation of Italy's Catania airport, joining nine other global airport operators and infrastructure investors competing for a majority stake, according to a Reuters report.

The company is among 10 bidders that cleared the preliminary selection stage, SAC Chief Executive Officer Nico Torrisi told reporters on Friday, Reuters reported.

The shortlisted bidders are Adani Airport Holdings, Vinci Airports, Royal Schiphol Group, Corporacion America Airports, Mundys, Save, 2i Aeroporti, Mag Overseas Investment, Oman Airports Management Company and Macquarie European Infrastructure Fund.


SAC, the operator of Catania airport, launched the sale process in May for a stake of at least 51% in the airport. Catania is Sicily's largest airport and the fifth busiest in Italy by passenger traffic.

The airport operator is owned by local authorities and chambers of commerce. It also manages the smaller Comiso airport in southern Sicily under a concession that runs until 2049.

The privatisation process began in 2022 after Italian investment bank Mediobanca was appointed as adviser to oversee the transaction. According to Reuters, the deal was estimated last year to be worth between 500 million euros and 600 million euros.

Adani Airport Holdings' participation comes as the group continues to expand its presence in the global airports sector beyond India.

Separately, earlier this month, The Economic Times reported that Adani Airport Holdings had sought a waiver from the Airports Authority of India (AAI) of a concession agreement clause that bars an entity operating Mumbai airport from owning more than a 10% stake in a scheduled airline. The report said the company had also requested that similar restrictions be removed from future airport concession agreements.

According to the ET report, Adani Airport Holdings told the AAI that the group was evaluating an airline business as an extension of its aviation ecosystem, which includes airport operations, pilot training, maintenance, repair and ground handling. The report added that the proposal was being considered by the government along with other measures aimed at encouraging well-funded airline operators, although Adani Enterprises subsequently denied plans to launch an airline.