Bengaluru airport operator BIAL appoints two new directors

Bengaluru international airport operator BIAL today said it has appointed two new directors on the board, close on the heels of GVK group exiting the venture.

Canadian NRI businessman Prem Watsa's Fairfax group now has around 48 per cent stake in Bangalore International Airport Ltd (BIAL).

At its board meeting today, the company appointed Marcel Hungerbuehler and Hari Marar as new members.

Hungerbuehler had served as CEO of BIAL from November 2008 to February 2011.

"Reconstitution of the BIAL board of directors follows the acquisition of the residual 10 per cent stake of GVK in BIAL by FIH Mauritius Investments Ltd, a wholly-owned subsidiary of Fairfax India Holdings Corporation," according to a release.

Harsha Raghavan would take over as the managing director of BIAL while Marar would be executive director and president.

The board is chaired by Karnataka government's chief secretary Subhash Chandra Khuntia.

According to the release, Hungerbuehler and Marar would spearhead the establishment of the Fairfax Centre of Aviation Excellence at the airport.

"The construction of the second runway and terminal, and other associated projects are now a priority," Marar said.

Apart from Fairfax, Siemens Project Ventures, Airport Authority of India (AAI) and Karnataka State Industrial and Infrastructure Development Corporation are the other stakeholders in BIAL.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)