GMR Infra looks international for airport business growth. 1Q losses on Delhi and Istanbul
As part of efforts to become a global player in the airport sector, India's GMR Infrastructure is seeking to expand its international footprint beyond its Istanbul Sabiha Gokcen and Male presence. GMR, which also operates Delhi and Hyderabad airports, two of India's largest airports, is looking at projects in countries ranging from Spain and Croatia in Europe to Puerto Rico and North America in the Americas, in addition to airports in Southeast Asia and Africa. The company's airport segment, meanwhile, reported a loss in the three months to Jun-2011, although its Male and Hyderabad airports were profitable. All GMR's airports were profitable at the EBITDA level in the quarter, with robust traffic growth across the board.
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