Singapore Changi Explains Withdraw From Delhi Airport Bid

SINGAPORE (Dow Jones)--Singapore's Changi Airport Managers and Partners Tuesday said a bid to upgrade and manage Delhi Airport didn't materialize because of a disagreement with its Indian partners.

In a statement, Changi, which is owned by the Civil Aviation Authority of Singapore, a government agency, said it had divergent views with partners Bharti Enterprises and DLF Group over how to address several issues that cropped up during the bidding process.

Of particular concern were "conditions in one of the key bid documents which cast a significant portion of the obligations of managing and operating the airport on the airport operator along with a stipulated performance bank guarantee," Changi said.

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