Jet Airways seeks 6-months extension from MMRDA to pay for BKC land

Mumbai: Naresh Goyal-owned Jet Airways is understood to have asked the Mumbai Metropolitan Region Development Authority for six more months to pay for the 1.47-acre Bandra-Kurla Complex plot it bought for Rs 826 crore in 2008.
The private air-carrier had planned to raise $200 million (about Rs 900 crore), but there has been no movement forward.
Jet has till date paid only the earnest money (Rs 10 crore) for the land on which it wants to build its headquarters.
"They have approached us seeking more time to pay for this land," a MMRDA official told PTI here.
When asked whether the Authority was considering Jet's plea, the official said, "It (the request) is under process."
MMRDA is the the nodal agency responsible for planning the metropolitan area development of the metropolis as well as
the urban area on the mainland.
Last September, MMRDA chief Ratnakar Gaikwad had said
that the airline had been given time till September 30 to
cough up 50% of the land cost.
04/05/10 PTI/Daily News & Analysis

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Categories: Jet Airways May 2010