New Delhi: In a move that could make flying from Delhi and Mumbai airport cheaper from January 1, the board of Airports Authority of India (AAI) has approved a proposal to pump in an additional equity of Rs 293 crore in Mumbai airport and Rs 115 crore in Delhi airport.
A senior AAI official said the Board decision would be subject to the Airports Economic Regulatory Authority (AERA) agreeing to abolish Airport Development Fee (ADF) from January 1, 2013. AAI will soon write to AERA, informing it about the Board’s decision and seeking removal of ADF.
Earlier this month, the Civil Aviation Ministry had directed the two metro airports to do away with ADF. Instead, AAI was asked to pump in more equity in Delhi and Mumbai airports.
Even after AAI pumps in additional funds into the two joint venture airport projects, its equity will remain at the current 26 per cent, sources said.
25/10/12 Business Line
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A senior AAI official said the Board decision would be subject to the Airports Economic Regulatory Authority (AERA) agreeing to abolish Airport Development Fee (ADF) from January 1, 2013. AAI will soon write to AERA, informing it about the Board’s decision and seeking removal of ADF.
Earlier this month, the Civil Aviation Ministry had directed the two metro airports to do away with ADF. Instead, AAI was asked to pump in more equity in Delhi and Mumbai airports.
Even after AAI pumps in additional funds into the two joint venture airport projects, its equity will remain at the current 26 per cent, sources said.
25/10/12 Business Line
