BIAL plan to raise Rs 70 bn in debt from banks to fund expansion plan

BIAL's traffic level has reached 27 million passengers per annum, well beyond its present capacity of 20 million

Bengaluru International Airport Ltd (BIAL) is moving ahead with its plan to raise around Rs 70 billion in debt from banks to fund its second-phase expansion plan. Sources close to the development said while the company had received approval, in principle, from its lenders for the proposal, it is waiting for the revised tariff order on user development fee (UDF) from the Airports Economic Regulatory Authority of India (AERA). “The revised tariff order is expected to be announced next week, and after which, it will immediately start the process,” the sources said.

Though it was not immediately known which banks would