Kerala government forms SPV to take over operations of Trivandrum airport

The Kerala government has formed an SPV – Thiruvananthapuram International Airport Limited – to take over the operations and management of the airport, which has recently been approved for privatisation. Thiruvananthapuram airport is among five other airports that were recently approved for development on a public-private partnership (PPP) basis by the central government. However, the Kerala government raised objections on the privatisation of the airport and offered to operate, maintain and develop the airport by forming an SPV through a tie-up between the state government and a strategic partner. With the SPV so formed, the state government now holds a 26 per cent stake, and the remaining will be offered either to the Kannur or Kochi airport operators, the Kerala State Industrial Development Corporation, the Kerala Infrastructure Investment Fund Board, the National Investment and Infrastructure Fund and other technical partners, investors or financial institutions.