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Zurich Airport International inks shareholder agreement with NIAL

Monday, 19 Jul 2021
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The Zurich Airport International has signed a shareholder agreement with the Uttar Pradesh government's entity Noida International Airport (NIAL) in Lucknow for development of the Noida International Airport.

Yamuna International Airport (YIAPL) is a 100 percent subsidiary of Zurich Airport International and has been incorporated to develop the Noida International Airport in Jewar, which is around 70 km from the main Delhi region.

NIAL will hold one golden share in YIAPL and the right to nominate two directors to the board.

In June 2021, YIAPL had announced that it has secured a loan of Rs 3,725 crore from the State Bank of India (SBI) for development of Noida international Airport.

When it won the bid on 29 November 2019 to build and operate the Noida airport, the Zurich Airport International had stated the airport will be able to handle 12 million passengers per year after the first phase of construction.
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