New Delhi, Oct. 11 -- GMR Infrastructure Ltd's plan to deleverage has run into turbulent weather.
Regulations that permit airline groups to hold only up to a 10% stake in Delhi International Airport Ltd (DIAL) may put to test the '8,000-crore investment plan of a Tata-led consortium into GMR Airports Ltd-a subsidiary of GMR Infrastructure, said a report by Business Standard. GMR Airports runs DIAL.
To be sure, there is a conflict of interest when an airline group holds a large stake in an airport. Post the deal, the Tata group, which owns stake in two airlines-Vistara and Air Asia India-would have an effective 20% stake in GMR Airports. In this case, the conflict of interest arises because GMR Airports holds a significant stake in DIAL. T...