Mumbai: Airports Authority of India (AAI) Chairman V P Agrawal on Wednesday said foreign airport developers had failed to bring value and expertise into their Indian joint venture airports.
Agrawal’s comments, during a panel discussion at a Centre for Asia Pacific Aviation summit here, sparked a war of words, with Fraport and Zurich Airport contesting his statement.
Foreign airport operators have invested in airport projects at New Delhi, Mumbai, Hyderabad and Bangalore. Fraport holds a stake of 10 per cent in the Delhi airport and is considering an exit next year. After selling 12 per cent stake to GVK group last year, Zurich now holds five per cent stake in the Bangalore airport. Foreign companies are allowed to hold up to 49 per cent stake in Indian airport projects.
Agrawal said in 2005, foreign airports were allowed to invest in the airports at Mumbai and Delhi to bring value to these projects and use their experience in design and construction. He added if the foreign airport developers desired managerial control in Indian airports, they should commit more funds.
01/11/12 Business Standard
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Agrawal’s comments, during a panel discussion at a Centre for Asia Pacific Aviation summit here, sparked a war of words, with Fraport and Zurich Airport contesting his statement.
Foreign airport operators have invested in airport projects at New Delhi, Mumbai, Hyderabad and Bangalore. Fraport holds a stake of 10 per cent in the Delhi airport and is considering an exit next year. After selling 12 per cent stake to GVK group last year, Zurich now holds five per cent stake in the Bangalore airport. Foreign companies are allowed to hold up to 49 per cent stake in Indian airport projects.
Agrawal said in 2005, foreign airports were allowed to invest in the airports at Mumbai and Delhi to bring value to these projects and use their experience in design and construction. He added if the foreign airport developers desired managerial control in Indian airports, they should commit more funds.
01/11/12 Business Standard
