INDIA/SWITZERLAND. Zürich Airport has entered into a strategic alliance with GVK Power & Infrastructure Ltd (GVKPIL) for its international airport activities in the Indian subcontinent.
As a result of the partnership, GVKPIL and Zürich Airport become the biggest private player in the burgeoning Indian airports sector.
Zürich Airport said that the strategic alliance with GVKPIL will strengthen the Swiss group’s strategic business objective of expanding its airport activities in South Asia and will promote its presence in India.
“The convincing strategic alliance with GVKPIL will assure Zürich Airport’s position in the Indian market and pave the way for future growth,” the company said.
At the same time GVKPIL will acquire 12% of the share capital in Bangalore International Airport Ltd (BIAL) from Zürich Airport.
Zürich Airport said it is strongly committed to the Indian aviation market. It will remain the operator of Bengaluru International Airport (run by BIAL) and will retain 5% of the share capital of BIAL, including its board representation.
In a statement, Zürich Airport said: “One of the challenges facing the fast-paced economic development in India is to create world-class infrastructure which will further boost economic growth and provide people with a better quality of life. Impending airport developments on the Indian subcontinent pose a serious challenge.
“Therefore, a synergy between a locally well-positioned and professional developer like GVKPIL and the expertise of a well-reputed and experienced international airport operator is highly advantageous.
“The strategic alliance with GVKPIL will boost Zürich Airport’s strategic business objective of expanding its airport activities in South Asia and will enhance its presence in India.”
ABOUT GVKPIL
GVKPIL, named after its founder, Chairman and Managing Director, Dr. G.V. Krishna Reddy, is
a diversified business entity with a predominant focus on infrastructure. It also holds a significant presence in the hotel, services and manufacturing sector in India.
GVKPIL is involved with many of India’s most important projects in diverse areas ranging from power, mining to airports and roads. The group already operates the country’s largest airport, Chhatrapati Shivaji International Airport in Mumbai, under a concession agreement for 60 years.
NOTE: The Moodie Report India, part of our dedicated regional news section on this website, contains all stories on India’s travel retail industry dating back to early 2003. You can access it via the dropdown menu on our home page under Regional News or by simply clicking here
NOTE (2): Airports Council International (ACI) and The Moodie Report last month announced the launch of India’s biggest-ever airport commercial revenues Forum, to be hosted by GMR. “˜The Power of India – New Horizons for Airport Commercial Revenues’ will take place in New Delhi in September 2010. Final date and venue details will be announced very soon.
