Delhi airport firm in Rs 229 cr loss
The Delhi International Airport Ltd (DIAL), the private operator of the Delhi airport, has posted a loss of R229 crore for the October-December quarter.
Delhi airport witnessed a traffic growth of 29% for the quarter and passenger traffic volume touched almost 10 million.
The company said the losses were due to pending tariff revision, uncertainty of the timely collection of the trade receivables from Air India and charge of R10 crore towards the non-recovery of airport development fees collection charges.
Hindustan Times had first reported in October that DIAL was set to post a record loss of R825 crore in fiscal 2012. “The tariffs being charged are old Airports Authority of India charges, which have remained unchanged since March 2001 except for one increase of 10% in 2009. The aero yield per passenger for DIAL is one of the lowest amongst comparable airports,” DIAL had said. “With the tariff revision process for the Delhi airport having commenced the adverse impact of DIAL’s results on the profitability of the company would soon be mitigated.”
“The implementation of the revised tariff, expected soon, will be an extremely significant development for DIAL and for the company as it would shift the company towards stronger cash flows and profitability,” said GM Rao, chairman, GMR.