Turkish Forum

Tag: Sabiha Gokcen International Airport

  • Why GMR Infra is keen to sell shares in airport biz

    Why GMR Infra is keen to sell shares in airport biz

    Moneycontrol Bureau

    indira_gandhi_international_airport_190GMR Infrastructure  is likely to sell shares in a public offer for its airport division. The firm that runs Delhi and Hyderabad airports along with an international airport in Istanbul, has debt of around Rs 4,000 crore in the vertical.

    The company is looking at raising around Rs 2,000 crore to boost expansion and help a clutch of private equity investors to sell shares in the company, says an Economic Times report quoting sources. The firm is working out size and other details related to the potential IPO.

    The report further says that the listing is mainly to help investors exit as the company does not have immediate fund requirement. Private equity firms together own around 21 percent stake in the company.

    Laden with over Rs 30,000 crore debt, GMR  has adopted asset-light asset- right’ strategy by which it will offload stake in its power, road and airport projects and re-deploy proceed from stake sale in new projects. This approach will also help it clean balance sheet

    Last month, the company sold 70 percent stake in an energy venture in Singapore and this helped the company reduce debt by over Rs 2,000 crore.

    Even GMR’s competitor, GVK Power and Infra has in recent past said that it will sell stake in business division to ease liquidity pressures. The firm has a debt of around Rs 16,000 crore with an over Rs 500 crore annual interest outgo.

    Considering the fact that the GMR and GVK, both have undertaken big ticket and long gestation projects in all their business verticals, such debt levels is not abnormal, say analysts. GVK is also looking to offlad stake in airport vertical at an appropriate time.

    via Why GMR Infra is keen to sell shares in airport biz – Moneycontrol.com.

  • Jewers Doors Gets Contract for Huge HABOM Project in Turkey

    Jewers Doors Gets Contract for Huge HABOM Project in Turkey

    By NewsDesk

    Turkish Technic is establishing a new international maintenance, repair and overhaul centre within Istanbul’s Sabiha Gökçen International Airport under the title the HABOM Project (aviation maintenance, repair and overhaul centre).

    Two new hangars are to be built, one for servicing narrow body aircraft, the other for wide body aircraft. Jewers Doors will design, supply and install the world-renowned Esavian Type 126 hangar doors on each of the hangars. The openings are approximately 254m wide by 14m high (narrow body hangar) and 226m wide by 22 m high (wide body hangar).

    Esavian hangar doors feature state-of-the-art controls and are fitted to the majority of super hangars built for maintenance of A380 aircraft. They are also in service on hangars of all sizes with major airlines, MROs, FBOs, royal families and armed forces worldwide.

    The stated aim of the HABOM project is that all facilities will be constructed as environmentally friendly designs which will provide maximum energy savings. An unlimited choice of cladding materials is available for use with Esavian doors enabling them to be highly insulated, secure and translucent. They conform to the tough leadership in energy and environmental design (LEED) internationally recognised green building certification system and are the greenest doors available making them the most suitable for harsh environments.

    Jewers Doors recently completed the refurbishment of doors on a two-bay narrow-body aircraft hangar for Turkish Technic at its existing maintenance, repair and overhaul facilities at Istanbul Ataturk International Airport.

    Managing director, Chris Jewers, says: “The HABOM project is likely to establish Istanbul as the aircraft maintenance hub for the region and we are very pleased to be part of it. Our unrivalled experience of designing environmentally-friendly hangar doors of any size, anywhere in the world, has once again secured Jewers Doors a major contract.”

    Source: Jewers Doors

    via Jewers Doors Gets Contract for Huge HABOM Project in Turkey | LogisticsWeek.

  • US magazine defines Istanbul airport as earthquake-safe

    US magazine defines Istanbul airport as earthquake-safe

    The U.S. “Risk Management” magazine and its blog showed Istanbul’s Sabiha Gokcen International Airport as one of the safest five places on Earth.

    Thursday, 02 December 2010 15:13

    A U.S. magazine defined the airport in the Asian side of Istanbul as earthquake-safe.

    The U.S. “Risk Management” magazine and its blog “www.riskmanagementmonitor.com” showed Istanbul’s Sabiha Gokcen International Airport as one of the safest five places on Earth.

    airport“The world’s largest seismically isolated building, the new international terminal at Istanbul’s Sabiha Gokcen Airport, is now complete and open for business. Stretching across more than 2 million square feet, the terminal doesn?t sit directly on the soil, but rather on more than 300 isolators, bearings that can move side-to-side during an earthquake. The whole building moves as a single unit, which prevents damage from uneven forces acting on the structure,” the magazine said.

    The magazine said, “given that a massive, 7.4-magnitude temblor struck Turkey in 1999, killing some 17,000 and destroying billions of dollars worth of property, this seems like a great development in a city that geologists expect to see another major quake within the next few decades.”

    The other safe buildings listed in the magazine are “Fort Knox-U.S. bullion depository”, “Svalsgaard Doomsday Seed Vault-a seed bank”, “Proof 7 World Trade Center”, “Bahnhof’s Underground Data Center.”

    The Risk Management Monitor is the official blog of Risk Management magazine and provides daily stories, commentary, interviews, podcasts and videos related to the world of risk management and insurance.

    Istanbul’s second airport Sabiha Gokcen hosted 6.27 million passengers in the first seven months of 2010, up 94 percent from the same period a year earlier.

    The airport almost caught last year’s passenger number of 6.6 million in the first seven months of 2010. 4.2 million of total passengers used domestic flights. The number of domestic passengers rose 92 percent.

    International passengers also increased 98 percent to 1.99 million. In July only, Sabiha Gokcen hosted 1.27 million passengers.

    Sabiha Gokcen International Airport, situated on the Asian side of Istanbul, opened in 2001. In 2007, ISG, a consortium of Malaysia Airports Holdings, India’s GMR Infrastructure and Turkey’s Limak clinched the rights to Istanbul’s second airport with a 1.9 billion-euro bid.

    AA