| "The formation of this venture underlines our commitment to build and strengthen the infrastructure of our economy. Singapore's Changi airport is internationally recognised as one of the best-managed airports in the world. This consortium will bring Changi's expertise and our experience for a dream project in India," Sunil Bharti Mittal, chairman and group managing director, Bharti Enterprises, said. |
| According to Mittal, work had begun on setting up the new venture, Bharti Changi Airport Ltd. "We have just started the work on the new company. The details such as investments etc are being worked out," he added. |
| The consortium will work towards the successful bidding and picking up of equity in the airport privatisation initiative undertaken by the government of India. Sources in the company said although the company would be bidding for both the airports, it would be more keen on the Delhi airport. |
| Boon Swan Foo, chairman of Singapore Changi Airport Enterprise, said, "Over the last few months, we have been looking for partners for this major initiative. We are pleased to partner Bharti to complete our international approach to airport management and operations." |
| Changi handled about passenger traffic of 25 million in 2003. It has 70 airlines operating more than 3,250 weekly scheduled flights to 152 destinations in 51 countries. Changi Airport has consistently been voted by international travel organisations as one of the best managed airport in the world. In 2003, Changi Airport received 19 awards and accolades from various international travel organisations. |
| Airports Authority of India has earlier proposed to restructure and modernize the Delhi and Mumbai airports through the formation of separate joint venture companies in which AAI and other public sector entities would together hold 26 per cent equity with the remaining equity to be held by the private sector companies. |
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