A-I inks Rs 70 cr JV with Singapore Airport

Chennai: Air-India (AI) signed a 60:40 joint venture agreement with Singapore Airport Terminal Services Ltd (SATS) in Chennai recently to provide ground handling services at the upcoming Bangalore International Airport.
This is the second agreement between A-I and SATS, the first being a JV agreement signed last year for providing cargo handling services at the Bangalore International Airport.
"In a few days, we will sign a 51:49 JV agreement with SATS for the provision of ground handling services at the Hyderabad airport also. While the estimates for the ground handling project in Bangalore will work out to around Rs 70 crore, the Hyderabad project size will be about Rs 80 crore," Vasudevan Thulasidas, chairman and managing director, A-I, said.
Both projects are expected to be operational by April 2008. "The JV for the Bangalore project plans to handle the majority of flights in Bangalore. We expect to get not less than 55 per cent of services provided to flights. We hope to provide 60 per cent of ground handling services to all flights at the Hyderabad airport," Thulasidas added.
08/05/07 Business Standard

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Categories: Air India May 2007, Airports May 2007, Foreign May 2007