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Airbus signs pact to set up training facility at IGI Airport

Press Trust of India  |  New Delhi 

European aviation major Airbus today inked a land licence pact with International Airport Limited (DIAL) for setting up a training facility, including the country's first full flight simulator.

Spread across a little over one acre of land, the proposed facility along with Airbus headquarters would come up at the Aerocity - Terminal District of International (IGI) Airport here.

DIAL, which manages and operates the IGI Airport, is a joint venture between GMR, AAI and Fraport AG.

The facility aims at addressing the growing demand of trained pilots and aircraft maintenance engineers.

The land license agreement was signed today between DIAL and Airbus for a period till March 31, 2036. DIAL has received the initial security deposit and ADC and will also receive an annual license fee from this agreement, a release said.

"This is the second significant in Aerocity after recent deal signed with Bharti Realty Holdings Limited. DIAL is putting together a plan for development of infrastructure for public amenities at Aerocity in an effort to increase the velocity of land monetisation," a DIAL spokesperson said.

DIAL earlier had awarded Bharti Realty Holdings Limited, the contract to design, develop, construct, finance, own, operate and maintain land parcel at Aerocity.

The involved upfront payments of Rs 315 crore and a license fee equivalent to 20 per cent of revenue with minimum guaranteed payments.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 16 2017. 18:03 IST