Monday, June 11, 2018

Mumbai airport shells out almost Rs 15K per hour to park Mallya's Airbus A319

Mumbai: In December 2013, an Airbus A319 belonging to the chairman of the nowdefunct Kingfisher Airlines, was seized by the service tax department after Vijay Mallya failed to pay dues worth around Rs 1,000 crore.
Since then, the plane, said to be a Mallya favourite, has been grounded at the Chhatrapati Shivaji International Airport in Mumbai.
Nearly five years down the line, it’s time to calculate how much the aircraft, worth close to $90 million, has cost the airport in terms of occupying parking space. Since the jet has been confiscated by a government authority, it is being parked at the airport for free.

But that’s serious prime estate losing money, as has been evident from the fact that the Bombay High Court has been hearing pleas from the Mumbai International Airport Limited (MIAL) over the past year for the plane to be removed as it is occupying space.

The cost of parking a plane at the airport varies from aircraft to aircraft. A number of private jet operators who operate and lease planes in India said parking costs would range from Rs 5,000 to Rs 15,000 per hour, with the size of the plane dictating the cost. In this case, the 6,000 cubic foot of living space with lavish interiors of the jet are such that the approximate parking cost would be Rs 15,000 per hour.
11/06/18 Maleeva Rebello/Economic Times