Aircel insolvency will hit our operations, warns GTL Infrastructure

With this, the company's tenancies may close at 26,639 by March end, against 51,587 tenancies as of December last year

Telecom tower firm, GTL Infrastructure, has warned that its operations will be hit with the shutdown of multiple telecom players and filing of bankruptcy petition by Aircel early this month. The company said it might lose 9,000-11,000 tenants over the next one year but will continue to remain a standard asset with the banks by cutting costs across the board.
 
In a statement to the exchanges, the firm said Aircel had issued exit notices for six telecom circles — 1,994 sites — and had estimated downsizing of 6,606 more tenancies. But, in March, Aircel unexpectedly filed for bankruptcy before