airline Air Deccan, airport operator GVK Airports, public sector financial institution
Infrastructure Development Finance Corporation (IDFC) and real estate major the
Raheja group have formed a consortium to take advantage of emerging opportunities
in the low-cost airport business. The combine will look at developing low-cost
airports in small cities.
move comes after the Karnataka government opened three airports for bids - Bijapur,
Shimoga and Gulbarga. Other possibilities are Nellore and Kadappa in Andhra Pradesh,
and Solapur in Maharashtra.
concept, said Air Deccan managing director Capt G R Gopinath, came from a suggestion
he had made in the past to the Travel Agents Association that state governments
could develop airports on their own, with private participation.
such airports will not be able to generate enough revenue from operations, they
can incorporate real-estate ventures that draw value from their proximity to the
Gopinath was in Hyderabad to speak to the students of Indian School of Business
(ISB), on how he built the country''s first private helicopter services company
and the country''s first low-cost airline.
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reports on Economy: Aviation