Indian airports to adopt new ground handling policy; GMR developing new strategy.
India's GMR Hyderabad International Airport Ltd has reportedly developed a three-pronged strategy to improve its revenues in the wake of a decline in the real estate market. The primarily focus will be to improve passenger traffic, with cargo a second focus and the third priority being to develop the aerospace business.
The company has slowed its plans to develop an aerotropolis around the Rajiv Gandhi International Airport amid concerns over the strength of the Hyderabad real estate market.
Meanwhile, GMR's Delhi and Hyderabad airports and GVK Group's Mumbai and Bangalore airports have been instructed to implement a new ground handling policy. This policy was finalised in 2007 but its implementation was delayed following opposition from airlines. According to the new policy, only persons cleared by the security agencies will be allowed to do ground-handling work at the airport. The services will be provided by full-time employees of security-cleared ground-handling agencies and airline companies. In trading yesterday, GMR shares gained 1.8%, while GVK shares were up 1.3%.
Mexican airport operator Grupo Aeroportuario del Centro Norte announced details for the fourth and final dividend payment with respect to 2009 results that was approved by its annual shareholders' meeting. GAP shares rose 0.7% on Wednesday.
Selected airport daily share price movements (% change): 30-Mar-2011
