GVK eyes management control of B’lore airport

Bangalore: The GVK group is likely to take management control of the Bangalore International Airport (BIAL), five months after buying L&T and Zurich Airport’s stake to emerge as the southern airport’s second-highest shareholder.
The GVK Group, which also operates the Mumbai International Airport, is in talks with Siemens, Airport Authority of India (AAI), the Karnataka government and also Zurich Airport to facilitate this change, two key officials familiar with the development said. The BIAL board is expected to meet in Bangalore some time this week to discuss the proposed change. A BIAL statement to ET declined to provide a specific answer.
Two key officials associated with the development told ET that the change is imminent. “GVK is an Indian company. It understands operations better. Plus, they are keen on running the airport as they are in the infrastructure business,” said one official.
The move, if it fructifies, will give GVK control over two of the biggest airports in the country, Mumbai and Bangalore.
02/03/10 Thimmaya & Sobia Khan/Economic Times

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Categories: Airports Mar 2010