FRANKFURT Airport operator fraport is selling its 10 per cent stake in Delhi International Airport Limited (DIAL) to majority owner GMR Airports Infrastructure Limited (GIL) for US$126 million.
The agreement for the sale of the joint venture that operates Delhi (Indira Gandhi International) Airport (DEL) was signed on September 9, London's Air Cargo News reported.
Fraport chief executive Stefan Schulte said: 'After a successful 18-year partnership driving impressive growth in Delhi, it's time to start a new chapter. We look back with pride on the various milestones we've achieved together with GIL.
'We jointly upgraded and expanded Delhi Airport into one of Asia's leading air transportation hubs.'
Despite the divestiture, Fraport will continue to support operations at DEL under an existing Airport Operator Agreement.
The Fraport Group has held its stake in Delhi Airport since India's capital gateway was privatised in 2006.
SeaNews Turkey
The agreement for the sale of the joint venture that operates Delhi (Indira Gandhi International) Airport (DEL) was signed on September 9, London's Air Cargo News reported.
Fraport chief executive Stefan Schulte said: 'After a successful 18-year partnership driving impressive growth in Delhi, it's time to start a new chapter. We look back with pride on the various milestones we've achieved together with GIL.
'We jointly upgraded and expanded Delhi Airport into one of Asia's leading air transportation hubs.'
Despite the divestiture, Fraport will continue to support operations at DEL under an existing Airport Operator Agreement.
The Fraport Group has held its stake in Delhi Airport since India's capital gateway was privatised in 2006.
SeaNews Turkey
