Fraport to end its Indian operations and consider selling Delhi Airport stake
Fraport reportedly plans to end its Indian operations in Jun-2012 with the airport operator also considering selling its 10% stake in Delhi Indira Gandhi International Airport (Economic Times/Business Standard, 08-Jun-2012).
Fraport: "We expected opportunities to come up but that did not happen and, hence, it does not justify running an office in India. We still look to India as an interesting market but we are disappointed. Under the operations maintenance and development agreement between the Delhi airport JV partners our role was to bring in expertise and transfer it to the local partner. It was never envisaged that the operations agreement would be long-term in nature. There was no plan to extend it beyond seven years. We are in discussion with Airports Authority of India and other authorities regarding the sale of stake in DIAL. Once our role as the airport operator ends May-2013, we would just remain as minority shareholders, with a limited influence." Ansgar Sickert, Managing Director of Fraport India. Source: Business Standard, 09-Jun-2012.