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Air India pays off Rs 415 crore worth airport dues to GMR Infrastructure

07 Feb 2013 Evaluate

Giving some respite to the Bangalore-based developer GMR Infrastructure, national carrier Air India has paid half of its dues to the tune of Rs 415 crore for having used the services of the company at Hyderabad and New Delhi airports. This development comes as big relief to the company after it was forced to give up $500-million Male International Airport. The company now remains optimistic that Air India, which is an important business partner, will clear the remaining dues in an expeditious manner to reach a regular payment status.

Of the total amount, a total payment of Rs 340 crore has been made towards user development fee (UDF), airport development fee (ADF) and landing and parking charges at the Delhi International Airport, while the remaining Rs 75 crore has been made towards usage of similar facilities at Company’s Hyderabad International Airport.

GMR Infrastructure is the infrastructure holding company formed to fund the capital requirements of various infrastructure projects in the Group’s Energy, Highways and Airport and SEZ sectors. It undertakes the development of the infrastructure projects through its various subsidiaries.

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