Kuwait airline ground handling services provider National Aviation Services (NAS) recently announced it has acquired majority ownership of Indian ground handling company, Nova Aviation Services, headquartered in Mumbai, India.
Under a share purchase agreement NAS will have majority ownership of the Indian company and enabling it to effectively manage projects currently handled by Nova in India under the NAS banner, the company said in a statement. NAS will now provide ground support to airlines at the airports in Mumbai, Ahmedebad, Nagpur, Indore, Pune and Goa, all of which are experiencing enormous growth in traffic. The agreement will also encompass cargo handling at some of these airports. After the acquisition the company will officially be known as NAS India and will take on the NAS brand identity.
"This agreement opens new horizons for NAS and will allow us to expand geographically," said Mr. Bara’a Al-Roumi managing director of NAS.
"NAS has plans to further expand into the Indian subcontinent and subsequently into the Far East and this is a great stepping stone for us to enhance existing operations in India while adding to our portfolio of successfully managing airport facilities and providing top class aviation services," he added.
"Forecasts indicate that aviation industry in India will need an investment of around US$55 billion in the next decade and turning to the private sector is one of the most logical ways to achieve this change that the Indian government is aiming for," said Naji Al-Ajmi CEO of NAS.