3 min readNew DelhiApr 18, 2013 01:04 AM IST
First published on: Apr 18, 2013 at 01:04 AM IST
The Airports Authority of India AAI has alleged that Delhi International Airport Ltd DIAL has faltered in sharing revenues with them by not including future revenues collected from Air India.
According to AAI,DIAL the company that operates the Delhi Airport has not included revenues to be accrued from Air India,while paying the airport operators revenue share. The share,paid to AAI by DIAL every month,is on the revenue projections for that month.
Had they considered revenue earnings from Air India,AAIs revenue collections would have been much higher. We have asked them to pay us an interest of Rs 27 crore over the income that would have come to them since November 2011, said a senior AAI official.
He added that they have sent a letter to DIAL on this issue. The matter was once raised in the Operations Maintenance and Development Agreement OMDA Implementation Oversight Committee,which is headed by the civil aviation secretary.
According to the norms under the OMDA of the Delhi airport,DIAL has to share 45.99 per cent revenues with AAI.
DIAL has to share revenues with AAI during the first ten days of every month and the revenue taken into account is the projected revenue of that month.
In its reply,DIAL has said that the revenue to be accrued from Air India was not considered because of the uncertainty involved in revenues coming from the national carrier.
The issue has arisen from the revenue from Air India where there are large defaults. Considering the delay in payment and uncertainty of timing around Air India revenue,this issue was discussed and deliberated in audit committee as well in the board meeting of DIAL and a conscious decision was taken to recognise Air India revenue on cash basis in
line with accounting standards, said an email response from DIAL.
AAI refutes it on the grounds that OMDA does not allow them to consider revenues from a scheduled airline,which is operating scheduled flights,as uncertain. How can they even consider the revenues from Air India as uncertain,when Air India is operating and also cleared a part of their dues in the last fiscal, said the AAI official.
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