The GMR Group has held exploratory talks with Airports Authority of India (AAI) for a partnership to jointly develop airport projects overseas, two people in the know of the development confirmed.
The move comes just months after GMR’s contract for the Male airport was cancelled after a regime change in Maldives. GMR is now in a litigation to get nearly $800 million as compensation.
“The talks are at a very nascent stage,” said one of the people. “AAI has not yet decided anything and will look at the merit of any project before committing to a partnership.”
A positive outcome to the talks will not, however, change the ownership pattern of the Sahiba Gokcen International Airport in Istanbul. Apart from Turkey, GMR also operates airports in Delhi and Hyderabad.
11/02/13 Subhash Narayanan/Debebrata Das/Financial Express
