Fairfax to list Anchorage in Indian stock exchanges

09 Mar 2021 CW Team

Fairfax controlled Bengaluru International Airport (BIAL), will invest around $2.2 billion to develop infrastructure to handle around 90 million passengers by 2034.

Prem Watsa, Chairman of Fairfax, in a letter to shareholders, said that since the inception of Anchorage in June 2019, it has actively participated in bidding for airports in India and the privatisation process of Indian Railways.

Fairfax expects to close the transaction in March 2021, where it will transfer 43.6% of the 54% that it owns in BIAL to Anchorage and will sell 11.5% of Anchorage for cash consideration of $130 million.

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

The transaction values 100% of BIAL at $2.6 billion and will result in OMERS indirectly owning approximately 5% of BIAL. Between March 2017 and May 2018, Fairfax invested $653 million to acquire 54% of BIAL.

BIAL's revenues dropped by 79%, to $23 million, in the two quarters ending in September 2020. The management has taken several operational efficiencies, which will result in annualised savings of $10 million.

Passenger traffic fell 60% from the previous year to about 14 million, and cargo handled dropped 17% mainly because of the reduced belly capacity as described above. Based on International Financial Reporting Standards (IFRS), BIAL's revenue dropped by 58% to $83.1 million, resulting in a loss after tax of $66.8 million versus a profit of $53.8 million in 2019.

Fairfax expects higher user fees in the third five year control period, which will start in April 2021. The company expects BIAL to generate a total return on equity (RoE) of 16.5% for the second control period and an RoE of 17.7% for the combined first and second control periods.

Image Source

Also read: Canadian firm Fairfax will expand in Indian infra

Fairfax India Holdings Corporation, the Canada based financial corporation, has started preparatory work to list Anchorage Infrastructure Investments Holdings Ltd (Anchorage) on the Indian stock exchanges, potentially valuing the company at $1.3 billion. Fairfax controlled Bengaluru International Airport (BIAL), will invest around $2.2 billion to develop infrastructure to handle around 90 million passengers by 2034. Prem Watsa, Chairman of Fairfax, in a letter to shareholders, said that since the inception of Anchorage in June 2019, it has actively participated in bidding for airports in India and the privatisation process of Indian Railways. Fairfax expects to close the transaction in March 2021, where it will transfer 43.6% of the 54% that it owns in BIAL to Anchorage and will sell 11.5% of Anchorage for cash consideration of $130 million.4th Indian Cement Review Conference 202117-18 March Click for event info The transaction values 100% of BIAL at $2.6 billion and will result in OMERS indirectly owning approximately 5% of BIAL. Between March 2017 and May 2018, Fairfax invested $653 million to acquire 54% of BIAL. BIAL's revenues dropped by 79%, to $23 million, in the two quarters ending in September 2020. The management has taken several operational efficiencies, which will result in annualised savings of $10 million. Passenger traffic fell 60% from the previous year to about 14 million, and cargo handled dropped 17% mainly because of the reduced belly capacity as described above. Based on International Financial Reporting Standards (IFRS), BIAL's revenue dropped by 58% to $83.1 million, resulting in a loss after tax of $66.8 million versus a profit of $53.8 million in 2019. Fairfax expects higher user fees in the third five year control period, which will start in April 2021. The company expects BIAL to generate a total return on equity (RoE) of 16.5% for the second control period and an RoE of 17.7% for the combined first and second control periods. Image Source Also read: Canadian firm Fairfax will expand in Indian infra

Infrastructure Urban

05 May 2026

Meghalaya And Assam Hold Talks To End Transport Stoppages In Garo Hills

Meghalaya and Assam have opened talks aimed at ending recent stoppages of commodity transport in the Garo Hills, officials said. The deputy chief minister, in charge of home affairs, reported that both state governments are coordinating to resolve disruptions and to restore normal movement of goods. He acknowledged that misunderstandings may have contributed to the incidents and that clarification between administrative units is under way. The discussions are intended to produce practical arrangements that will allow consignments to move without hindrance while respecting local procedures. The..

Infrastructure Transport

05 May 2026

Kochi Metro Records 1.375 mn Rise In Passengers In FY26

Kochi Metro recorded a marginal rise in ridership in the financial year 2025-26, carrying 1.375 mn more passengers than in the previous year. The service carried 36.8 million (mn) passengers in 2025-26 compared with 35.5 mn in 2024-25, representing a year-on-year increase of 3.9 per cent. The growth was described as distributed rather than concentrated in isolated spikes. A month-wise analysis shows steady gains across quarters. In the first quarter, ridership increased from 8.57 mn to 8.84 mn, while the second quarter rose from 9.13 mn to 9.51 mn. These trends indicated broad-based improvemen..

Infrastructure Transport

05 May 2026

Ghaziabad Plans 16km Metro Link To Delhi Via Hindon Airport

Ghaziabad authorities are pursuing a 16 km metro link to Delhi that will run via Hindon Airport, and a detailed project report is under way. The plan is intended to improve connectivity between Ghaziabad and the national capital and to provide an interchange with the airport. Officials said the project is being studied to assess alignments, station locations and cost estimates ahead of formal approvals and tendering. The announcement follows the inauguration of the Delhi?Faridabad metro extension, which will offer hassle free travel for around 0.2 mn daily commuters between the national capita..