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GMR Infrastructure to consolidate airport holdings under subsidiary

Analysis

India's GMR Infrastructure reportedly plans to consolidate its airport holdings under one subsidiary, according to a report in the Economic Times. The company is expected to transfer its 24% stake in Delhi International Airport Limited (DIAL) for USD147.2 million and its 63% stake in Hyderabad Airport for USD53.5 million to its GMR Airport Holdings subsidiary. GMR Airport Holdings also has a stake in Istanbul Sabiha Gokcen International Airport.

Summary
  • GMR Infrastructure plans to consolidate its airport holdings under one subsidiary.
  • The company will transfer its stake in Delhi International Airport Limited for USD147.2 million and its stake in Hyderabad Airport for USD53.5 million to its subsidiary.
  • GMR Airport Holdings also has a stake in Istanbul Sabiha Gokcen International Airport.
  • TAV Holdings reports a 16% increase in passenger numbers at its investment airports in Turkey.
  • Istanbul Ataturk Airport sees an 18% increase in passenger numbers, with domestic and international segments both showing growth.
  • Tunisia's Monastir and Enfidha airports experience a significant decline in passenger numbers, while other airports in the region show positive growth.

Also in Turkey, TAV Holdings reported the following traffic highlights for its investment airports Apr-2011:

  • Passenger numbers: 4.1 million, +16%;
    • Domestic: 1.6 million, +16%;
    • International: 2.5 million, +16%;

Selected ABD daily share price movements (% change): 05-May-2011

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