{"id":57445,"date":"2024-02-25T13:05:08","date_gmt":"2024-02-25T07:35:08","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=57445"},"modified":"2024-02-25T13:05:12","modified_gmt":"2024-02-25T07:35:12","slug":"adani-airport-to-partner-with-hong-kongs-plaza-premium-for-jv-lounges","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/02\/25\/adani-airport-to-partner-with-hong-kongs-plaza-premium-for-jv-lounges\/","title":{"rendered":"Adani Airport to Partner with Hong Kong’s Plaza Premium for JV Lounges"},"content":{"rendered":"\n

MUMBAI-<\/strong> Adani Airports<\/a> is in advanced discussions with Hong Kong-based Plaza Premium Group to establish a joint venture for the operation of airport lounges throughout the country, according to a source familiar with the negotiations, as reported by ET.<\/p>\n\n\n\n

If the collaboration comes to fruition, it would signify the re-entry of the airport hospitality services giant into the Indian market.<\/p>\n\n\n\n

\"Adani
Photo: Bhavya Velani\/ Aviation A2Z<\/figcaption><\/figure>\n\n\n\n

Adani Eyes Plaza Premium Lounge<\/h2>\n\n\n\n

Plaza Premium Group was previously responsible for managing a majority of India’s premium airport lounges; however, due to security clearance issues after 2021-2022, it had to discontinue its services, as per insights from airport executives.<\/p>\n\n\n\n

“The potential partnership is a strategic move for the Adani Group to enhance hospitality standards at its airports,” stated the source. “It’s envisioned as a joint venture, with both partners contributing to existing and upcoming lounges.”<\/p>\n\n\n\n

Adani presently manages the majority of its own lounges at airports, including Mumbai<\/a>, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, Lucknow, and Guwahati. Additionally, the conglomerate is constructing India’s most expensive airport, valued at over \u20b919,000 crore, on the outskirts of Mumbai.<\/p>\n\n\n\n

As the largest airport infrastructure company in India<\/a>, with eight airports in its portfolio for management and development, Adani Airports represents 25% of passenger footfalls and 33% of air cargo traffic in the country.<\/p>\n\n\n\n

\"Adani
Photo: File: Busy apron of Trivandrum International airport.jpg – Wikimedia Commons<\/figcaption><\/figure>\n\n\n\n

Earlier Partnership Attempts<\/h2>\n\n\n\n

The conglomerate’s airport business is the second-largest contributor to its overall revenue. According to the latest investor presentation, Adani anticipates its airport business to reach 400 million consumers by 2028.<\/p>\n\n\n\n

In contrast, Plaza Premium Group boasts an international presence with over 250 locations at 80 airports across 30 countries. Last June, DreamFolks and Plaza Premium Group agreed to expand DreamFolks’ global lounge network by incorporating over 340 lounges in more than 70 international airports.<\/p>\n\n\n\n

However, Plaza faced contract terminations with airport operators in Delhi and Bengaluru <\/a>in 2021 and 2022, citing security clearance issues, according to executives at the airports.<\/p>\n\n\n\n

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Adani Airport Holdings Gives 10% for 400 Crore to Pay Its Debt and More<\/a><\/blockquote>