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Delhi airport invokes force majeure over revenue sharing with AAI

DIAL has also moved court to recover the money it paid to AAI since April

delhi airport, coronavirus, passengers, air travel

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The high court during hearing of the case on 9 September has asked AAI to submit a note declaring the treatment of Rs 399.20 crore deposited by DIAL in the escrow account

Arindam Majumder New Delhi

3 min read Last Updated : Dec 16 2020 | 11:10 PM IST

Delhi International Airport (DIAL) has invoked the force majeure clause to suspend the revenue-share agreement with state-owned Airports Authority of India (AAI) as the Covid-19 pandemic continues to impact traffic flow and revenue.

DIAL operates the Indira Gandhi International Airport - India’s largest in terms of passenger footfall.

According to the agreement signed between AAI and DIAL in 2006 - as part of the privatisation process of Delhi Airport - DIAL paid 45.99 per cent of its annual revenue as concession fee to AAI.

DIAL deposits the money on a quarterly basis in an escrow account, which AAI then transfers

Topics : Coronavirus Delhi airport Airport Authority of India Delhi High Court Domestic Air Traffic Mumbai airport

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