Bangalore International Airport Ltd (BIAL), which reconstituted its board after Fairfax India Holdings Corporation acquired a 48 per cent stake in the company, has vowed to fast-track airport expansion project.

BIAL had on Thursday announced the induction of new members to its board of directors. They include Marcel Hungerbuehler (former CEO of BIAL from November 2008 to February 2011) and Hari Marar.

New honchos

Harsha Raghavan will take over as Managing Director, while Marar will be Executive Director and President.

Reconstitution of the BIAL board follows the acquisition of GVK’s residual, 10 per cent, stake in BIAL by FIH Mauritius Investments, a wholly-owned subsidiary of Fairfax India Holdings Corporation. The board, under the stewardship of the Chairman Subhash Chandra Khuntia, the Karnataka Chief Secretary, will work towards speedy implementation of crucial capacity-expansion projects.

Centre of excellence

Hungerbuehler and Marar, both aviation experts with a deep understanding and knowledge of airport operations and development, will spearhead the establishment of the Fairfax Centre of Aviation Excellence at Bengaluru Airport.

“Bengaluru airport continues to see fantastic growth in passenger volumes — more than 20 per cent at the close of the financial year 2017. The construction of the second runway and terminal, and other associated projects are now a priority,” Marar said on the occasion.

“I look forward to working with the outstanding team at BIAL to take the airport — and its community — into a new phase of development that will continue to contribute to the economic prosperity of Karnataka. We are now in a unique position to be able to ensure that we deliver to Bengaluru and its people an airport of which they can truly be proud of.”

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