DIAL seeks Rs350 crore loan from AAI
06 Sep 2011
New Delhi: Airport operator, the GMR group, which manages two airports in India and one abroad, has asked state utility, the Airports Authority of India (AAI), also its joint venture partner in Delhi's international IGI airport, for a Rs350 crore loan on commercial terms.
DIAL has offered to repay the loan as soon as it recovers its dues from airlines which are yet to clear airport charges for the last several months.
GMR Airport Holdings operates two airports in India (New Delhi and Hyderabad) and one in Turkey (the Sabiha Gokcen International Airport, Istanbul). The airport arm accounts for as much as 46 per cent of parent concern, GMR Infra's, revenues.
GMR Infra, which is aggressively pursuing power and road projects in India, has lined up investments of over Rs16,000 crore this year.
''We have discussed this issue with the aviation ministry. Air India owes us Rs350 crore in airport dues. We will pay back to AAI after we get payment from the airline,'' a GMR group official said.
DIAL said it has received ten post-dated cheques from Kingfisher Airlines towards payment of dues of around Rs60 crore.
