In 2006-07, Mumbai and New Delhi airports were awarded to M/s GMR and GVK and entered an era of private airport management. In the mean time, private public partnership greenfield airports were in progress at Kochi, Hyderabad, and Bangalore. Passengers across the nation waited with anticipation to finally be free of the poor service standards of the Airports Authority of …
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Debt burdened GVK Power and Infrastructure Ltd will sell the last of its stake in Bengaluru International Airport Ltd. (BIAL), approximately ten per cent, to Fairfax India Holdings, for Rs. 1,290 crore (about $200 million). BIAL is the operator of the Kempegowda International Airport. In an announcement to the stock exchange the company said “This is to inform you that …
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As part of its debt reduction exercise, GVK Power & Infrastructure Ltd, which leads a consortium owning Bangalore International Airport Ltd (BIAL), through wholly owned subsidiary GVK Airport Developers, has announced it will sell a 33% stake in the airport operating company to Prem Watsa promoted Fairfax India Holdings Corporation and Fairfax Financial Holdings Limited for Rs. 2,149 crore (approx …
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At long last, Mumbai’s Chhatrapati Shivaji International Airport (CSIA) is getting its new integrated terminal, T2. In a few hours from now, the India Prime Minister ManMohan Singh will inaugurate the new luxurious terminal. Enjoy the pictures in the slider above or in the toggle box below. If you are planning to use the terminal right away, don’t get your …
Read More »By BA StaffMumbai’s Chhatrapati Shivaji International Airport (CSIA), inaugurated India鈥檚 tallest ATC tower with a height of 83.8 metre and built within an area of 2,800 square metres. The location and the height of the new ATC tower will enable the tower controllers to have unobstructed view of the entire operational area, which will help in optimizing air traffic separation …
Read More »Earlier today passengers cheered hearing that the Supreme Court of India ruled that the charging of Airport Development Fee (ADF) by the private airport operators was incorrect. The initial cheer of air passengers flying out of Delhi though is short lived. A detailed reading of the record of proceedings of the case (read page 42 onwards) allows the operators of …
Read More »The Supreme Court of India has ruled that the private consortia running the Delhi and Mumbai airports will not be allowed to charge an airport development fee (ADF) on passengers. The stock prices of both the GMR group which leads Delhi International Airport Ltd. (DIAL) and GVK Group which leads Mumbai International Airport Ltd. (MIAL) were hammered on the stock …
Read More »While analysts are expressing apprehension on the high price GVK has paid to acquire its 29% stake in Bengaluru International Airport Ltd. (BIAL), the recent re-jig of the BIAL management structure shows insights in to how the GVK Group intends to re-coup its investment. The management re-jig has effective created an “airport operations group” and a “land development group” which …
Read More »Apparently there is a major meeting currently underway at the Bengaluru International Airport Ltd. (BIAL) which will run till tomorrow. This meeting is focus on the expansion plans of the Bengaluru International Airport (BIA). The new de-facto owners of the airport Mr. G.V. Krishna Reddy and son Mr. G.V. Sanjay Reddy of GVK Power and Infrastructure Ltd. (GVK) will receive …
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