GMR Infra steps into air charter services with Rs700-cr capex plans
26 February 2008
Bangalore: GMR Infrastructure has announced its intention to foray into air charter services through a full fledged subsidiary GMR Aviation, and a capital expenditure plan of Rs700 crore.
GMR is currently involved with three airport upgrade projects at New Delhi, Hyderabad and Istanbul.
GMR Aviation will commence operations with an initial fleet of 6 nine-seater aircraft and two helicopters.
According to industry estimates, the number of private aircraft in India is expected to rise to over 500 over the next four years, from the existing 150-190.
GMR has already obtained a licence to operate charter services and says that it is encouraged by the response it has received in its test-marketing phase.
Former Tata Aviation executive, Amit Sinha, will head the GMR venture.