Zurich Airport and Dusseldörf Airport, the international
bidders for the proposed international airport at Devanahalli in Bangalore have
asked the Karnataka state government to provide a bridge loan of $80-$100
million to cover initial losses of the airport project.
The foreign consortium would be
holding a 74 per cent stake in the project, which is being build to handle more
than five million passengers.
The consortium anticipates profits
and loan repayment only after traffic picks up, i.e. after about seven to eight
years. In order to cover financial constraints during this period, the
consortium has asked the state government for a bridge loan.