GMR moves appellate tribunal for higher aeronautical charges

Bangalore: GMR Infrastructure has appealed to the Appellate Tribunal to further increase the aeronautical charges at the Delhi International Airport Limited (DIAL) that it manages. The Bangalore-based publicly-held infrastructure developer’s move comes hardly a month after the airport tariff regulator, Airports Economic Regulatory Authority (AERA), allowed a 16 per cent return on equity, while GMR had sought a 24 per cent return.
A GMR spokesperson confirmed that the company had filed an appeal for higher returns on its equity, saying 16 per cent was an option that would be difficult for the company to sustain.The company said considering additional investments done as per the terms of the concession, including capacity building and new features factored in, the rate increase effective from May 15 this year was less than half of the requested increase, and therefore, inadequate.
26/06/12 Raghuvir Badrinath/Business Standard

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Categories: airports Jun 2012