NEW DELHI: Airport operator GVK Power & Infrastructure Ltd has sold a 33 per cent stake in Bangalore airport to Canada’s Fairfax Financial Holdings to reduce debt, the company said in a statement on Monday. Fairfax will pay INR 21.49 billion ($322.75 million) for the stake, GVK said in a statement to the stock exchange. The deal, likely to be completed by mid-2016, will help GVK reduce debt by INR 20 billion and save up to INR three billion a year in interest costs, the company said. Shares in GVK, which also operates Mumbai airport, ended six per cent higher. The Mumbai market fell 1.46 per cent.