GMR surprised with decision to give airport development to Chinese firm

Indian infrastructure company GMR has told media of its surprise that the development of Ibrahim Nasir International Airport (INIA) has been given to a Chinese firm.

“Sources in the GMR expressed surprise at the move by the Maldives government as it has entered in a new contract for construction work at airport without paying damages as suggested by the tribunal,” wrote the Economic Times today.

The preliminary contract agreement for the development of the airport was one of eight MoUs signed between the Chinese and Maldivian governments during the recent presidential visit by the Chinese President Xi Jinpeng.

GMR to set up aerospace training centre; to follow Moroccan model

Hyderabad: The GMR group is planning to set up an aerospace training centre in Hyderabad on the lines of the one established by Morocco.

With the help of French multi-national firm Safran, the group has sent a team to the African country to study the model adopted by it. It has sought the help of Telangana Government in this regard.

P S Nair, Chief Executive Officer (Corporate – Airport Sector), who is a member of the team, has said that the company would like to play a leading role in setting up the training institute. He said that it would approach the Government to seek its assistance in establishing the institute.

GMR venture in Philippines to give wings to airport

Cebu (Philippines): Cebu City in central Philippines is eagerly waiting for Indian infrastructure major GMR to upgrade and renovate its existing airport and build a brand new one to accommodate the ever increasing tourist inflow, a top Philippines official said here.

The $320 million project will ramp up the capacity from 4.5 million passengers annually to 12.5 million.

"We are happy that GMR has got the airport work, and we are eagerly waiting for the airport to be ready," Cebu Vice Governor Agnes Magpale told a group of visiting Indian journalists here.

GMR Infra finalises plan to develop rest of IGI Airport

Bangalore: GMR Infrastructure has developed a monetisation plan to develop the remaining 184 acres of Delhi's Indira Gandhi International Airport in four phases over 10 years. The airport developer's move to unlock value from real estate assets comes nearly five years after its first round of monetisation, which involved awarding development rights over 45 acres to create a hospitality zone.

GMR Infrastructure plans to list airport business this year

GMR Infrastructure's airport business that made a profit last financial year after three years of losses is now set upon a financially stable path which entails an imminent IPO, cash compensation from an earlier project, a stringent filter on future projects and limited capital outflows, its group finance chief said recently.

The plans fit the Bangalore conglomerate's overall strategy of raising cash, paring debt, transforming itself into a light-asset company and unlocking potential in individual businesses, Madhu Terdal told ETin an interview.

Delhi Airport launches India's first Pet Travel Information and Facilitation Desk

New Delhi: Delhi International Airport Limited (DIAL) has launched a Pet Travel Information and Facilitation Desk at Terminal 3 of the Indira Gandhi International Airport (IGIA) here, the first such facility in the country.

The desk, Pet Fly, takes care of various hassles related to travelling with pets, includng handling and fulfilling regulatory clearance procedures, a press release from DIAL said.

 “Being pioneer in India for introducing unique experiences to our passengers, DIAL wanted to take a step further by ensuring better and professional facility for the comfortable journey of your pet," DIAL CEO I Prabhakara Rao said.

Monetisation of Delhi land: GMR could get over Rs 100 crore per acre

Bangalore: GMR Infra, a publicly held firm that manages the Delhi international airport, is set to kickstart the second phase of monetisation of its 230-acre land parcel near the airport. The price it might get for its land is estimated to tip over Rs 100 crore per acre and go in the range of Rs 105-110 crore an acre.

In the first phase of monetisation in 2009, GMR had sold 45 acres of the parcel at Rs 75-90 crore an acre to various hospitality majors. This time, it could try to get approvals for also selling to other players besides hospitality ones.

GMR seeks reduction of VAT on jet fuel

Hyderabad: In order to boost the aviation and aerospace industry in the State, the GMR group which operates and runs the international airport at Shamshabad here, has requested Chief Minister K. Chandrasekhar Rao to reduce the Value Added Tax (VAT) to four per cent on Aviation Turbine Fuel (ATF) and take some other measures too.

Mr. Rao has in turn agreed to consider the proposal, according to CMO sources. Making a power point presentation, the GMR group representatives explained that addressing the VAT issue would bring in more airlines to Hyderabad. They pointed out that airlines in the city have withdrawn/reduced frequency by 13 per cent in the financial year 2013, and thus far, this year there has been a four per cent reduction.

GMR to Host Second ICAO Conference

Hyderabad:  In an attempt to improve the safety and efficiency of air transport, GMR Aviation Academy, the GMR group of companies’ aviation wing is hosting the second International Civil Aviation Organization (ICAO) and regional trainer plus course developers and instructors standardization meetings for the Asia Pacific region, from July 2 to 4 at the Novotel Airport Hotel near the Rajiv Gandhi  International Airport (RGIA) in Shamshabad.

Chandrababu Naidu tells Centre to rename Hyderabad airport after NTR

New Delhi: Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday expressed hope that Hyderabad's Rajiv Gandhi international airport will be renamed after TDP founder N T Rama Rao.
Naidu said the airport was originally named after former Chief Minister of Andhra Pradesh N T Rama Rao but once its location was shifted from Begumpet to Shamshabad, the then Congress government at the Centre renamed it after former prime minister Rajiv Gandhi.
"The Central government has to do it. This has been our demand," he said after a meeting with Home Minister Rajnath Singh.

GMR Hyderabad Intl Airport gets ACI award

Hyderabad: The Rajiv Gandhi International Airport, operated and managed by GMR Group, has bagged the Roll of Excellence award from the Airport Council International, in recognition of the airport being in the top three of the five airports in the world for five consecutive years in certain categories.

Turkish Airport Stake Sale Props Up GMR Profit

Hyderabad: GMR Infrastructure reported nearly two-fold increase in its profit after tax  (after minority interest) at Rs 1,170 crore for the quarter ended March 31, 2014 as against Rs 579 crore during the same quarter a year ago. The rise in profit was a result of its 40 per cent stake sale in the Turkish Airport to Malaysian Airports Holdings BDH, which fetched the company Rs 1,659 crore.
Gross revenue for the fourth quarter increased by 12 per cent to Rs 2,961 crore from Rs 2,638 crore.
PAT for the financial year ended March 2014 dipped to Rs 10 crore as against Rs 88 crore a year ago. Gross revenue increased to Rs 10,653 crore from Rs 9,975 crore during the same period.