Flying Bid

Consultancy firm KPMG Ford Rhodes have been picked as financial advisors to help privatise the Bandaranaike International Airport.

The firm will advise the state on structuring the offer, preparing Expressions of Interest and bid documents that is likely to be issued in a month.rn

rnThe winning bidder will take up a 35 percent stake in the airport, and full management control, Airport and Aviation Services Chairman, Hemasiri Fernando said.rn

rnAirport and Aviation Services Ltd. (AASL) are current managers of the airport and will hold the balance 65 percent stake.rn

rnPrivatisation of the Bandaranaike International Airport has been on the cards as a phase three of ongoing expansion efforts, on the basis of a private-public partnership. rn

rnThis includes expansion of the terminal building and a second runway that can accommodate new generation A380 aircraft that will eventually replace the current carriers. rn

rnThe winning bidder will be brought in to fund the US$ 1.5 bn for phase thre