GMR Group to work towards expansion of airport business

Amaravati: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy during the exchange of an agreement between the state Government and the GMR Group for the construction of Bhogapuram Airport, in Amaravati on June 12, 2020. (Photo: IANS)

Mumbai, Aug 30 (IANS) GMR Group will work towards expanding its footprint in the airport business in the long term, said G.M. Rao, Chairman of the group.

His message to the shareholders in the annual report of GMR Infrastructure said that the company will also continue to invest in technology.

“From a longterm perspective, the Group will continue to invest in technology and work towards further expanding our footprint in the Airport business. We will ensure that the Group is ready for a strong economic comeback post the pandemic,” Rao said.

He noted that the aviation industry across the globe is facing an unprecedented situation with a very significant adverse impact due to the Covid-19 outbreak.

Not only has air travel been restricted due to government initiated lockdowns to curb the spread of Covid-19, the general passenger sentiment has also been adversely impacted, Rao said, adding that larger countries such as India, however, are expected to recover faster because of a strong domestic market.

“In line with our strategy, we believe that in spite of the ongoing turbulence, the airport business has huge underlying strength and will continue to be the growth engine for the group,” he said.

Noting that the fundamental long-term growth drivers for the Indian economy and aviation sector remain intact and strong, he said: “We are actively pursuing suitable airport opportunities in India as well as globally. “

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