Mumbai finally has its second airport — a long-awaited addition that could reshape how India’s busiest aviation market moves. Beyond the terminal and runway, it signals the scale of Adani’s airport ambitions. In just a few years, the group has built a network of eight airports, and in FY25 its airport business turned profitable with ₹9,276 crore in revenue, ₹4,350 crore in EBITDA and ₹772 crore profit, supported by passenger growth, tariff resets and fast-expanding non-aero revenue from retail, duty-free, lounges and F&B. But there’s a road ahead — connectivity to NMIA needs to catch up, international flights will ramp gradually, and service experience will define passenger sentiment as numbers rise. On latest episode of The Morning Brief, ET’s aviation expert Forum Gandhi joins host Anirban Chowdhury to break down how Adani is building India’s biggest airport portfolio, what Navi Mumbai changes for travellers, and where the airport business goes next.

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