AAI inks MoU with IL&FS to bolster expansion of foreign operations

Airports Authority of India (AAI) has tied up with infrastructure giant IL&FS’ subsidiary IL&FS Global Financial Services to help expand overseas. The two sides--AAI and IL & FS Global Financial Services (ME) Ltd--have signed a memorandum of understanding (MoU) in this regard, a release said on Friday. AAI’s vision is to go global from local, considering its expertise and capabilities in airport development and operation and management, AAI chairman R K Srivastava said through a release. AAI over a period of time has developed more than 60 airports and now intends to leverage to expertise to other international markets at a bigger scale, he said. By signing MoU with IL&FS, AAI would be getting an opportunity in identification of airport development opportunities, transaction structure and financing facilities in Middle East, Africa regions as well as in CIS countries, the release added. IL&FS Global Financial Services (ME) Ltd’s CEO Murugan Sankaran, assured the national airport operator to mutually cooperate with AAI to take up airport development opportunities in the target regions, the release added.