Zurich Airport enters strategic alliance in India
05-Nov-2009 Zurich Airport enters into a strategic alliance with GVK Power & Infrastructure Ltd. (GVKPIL) for its international airport activities in the Indian subcontinent. The strategic alliance with GVKPIL will strengthen Zurich Airport's strategic business objective of expanding its airport activities in South Asia and will promote its presence in India.
At the same time GVKPIL will acquire the 12% of the share capital in Bangalore International Airport Ltd. (BIAL) from Zurich Airport. Zurich Airport is strongly committed to the Indian aviation market. Zurich Airport will remain the operator of Bengaluru International Airport and will retain 5% of the share capital of BIAL, including its board representation. One of the challenges facing the fast paced economic development in India is to create world-class infrastructure which will further boost economic growth and provide people with a better quality of life.
Impending airport developments on the Indian subcontinent pose a serious challenge. Therefore, a synergy between a locally wellpositioned and professional developer like GVKPIL and the expertise of a well-reputed and experienced international airport operator is highly advantageous. The strategic alliance with GVKPIL will boost Zurich Airport's strategic business objective of expanding its airport activities in South Asia and will enhance its presence in India.