Air India has cleared a
large chunk of its dues to GMR-led operators of Delhi and Hyderabad
airports. GMR Infrastructure confirmed on Wednesday that it has received
payment of Rs 415 crore from Air India towards outstanding dues on
account of various airport related charges for Delhi and Hyderabad
airports.
"After long time they
(Air India) have given us some sizable money. We received Rs 415 crore
on January 30 (from them) towards payment of UDF, ADF, landing and
parking, everything," GMR's CFO for airport business Sidharth Kapur
said.
Of this, Rs 340 crore
payment has been made for user development fee (UDF), airport
development fee (ADF) and landing and parking charges at the Delhi
International Airport, while Rs 75 crore payment was made for usage of
similar facilities at the Hyderabad International Airport.
Post this payment, dues
on Air India has come down to Rs 375 crore, Kapur said, adding that he
is hopeful of Air India clearing remaining dues in next few months to
reach a regular payment status.
He, however, refused to
comment on whether the airport business would become profitable after
this payment, as financial results of GMR Infrastructure are slated to
be taken up by the company Board in next few days.
GMR also has outstanding
dues of about Rs 49 crore on Vijay Mallya-promoted Kingfisher Airlines
for usage of facilities at the Delhi airport as on January 15.
During the first half of
the current fiscal, the airport business of GMR had reported Rs 118
crore loss before minority, the company had said in November while
announcing the results for July-September quarter.
The company had then said
that it has not accounted Rs 129 crore dues on Air India for the
July-September quarter as a matter of prudence and the airport business
would have shown profits had the dues been recognised.
Besides Delhi and
Hyderabad airports, GMR Infrastructure is also the operator of Turkey's
Istanbul International Airport. In December, the company had suffered a
setback as it was pushed out of a contract by Maldives government to
develop and modernise the Ibrahim Nasir International Airport (INIA) in
Male.
The company, which had
invested about $240 million on the development of Male airport before
being forced to exit, is now looking for compensation from the Maldives
government.
With PTI inputs
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