From a dismal Airport Service Quality ranking of 101 in 2006, it topped the list in 2016.
Leading power players Reliance Infrastructure and GMR Energy believe this will help ensure coal availability for their mega projects in the pipeline. "They have various proposals on their table, which are relatively cheaper when compared to the scene before the beginning of the financial crisis. However, the acquisitions will depend on the ability of the acquirers to raise funds as the banks have stopped lending at cheaper rates," said a source.
The realty companies include Housing Development and Infrastructure Ltd and Hyderabad-based Vasundhara Projects, while the oil services company is Hydrocarbon Resources Development.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
The CPI(M) on Tuesday demanded immediate withdrawal of the government's decision to allow the GMR-led consortium, developing the Delhi airport, to charge development fee from passengers to fund modernisation work.
In a major concession to the Bangalore-based GMR-led consortium Delhi International Airport Ltd that is operating and upgrading Delhi airport, the government has allowed it to impose airport development fees on passengers that will help them raise up to Rs 1,827 crore over three years. The move also means that the government has forfeited its share of revenue since DIAL has been allowed to levy Airport Development Fees and not User Development Fees.
The government is considering allowing the GMR-led Delhi International Airport Ltd to charge airport development fee from passengers to meet the shortfall in financing the cost of expanding and modernising the Indira Gandhi International Airport.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
Private airport developers in Delhi, Mumbai, Hyderabad and Bangalore, say landing and parking fees account for a significant proportion of revenues, so offering these services free would be unviable.
Delhi International Airport Ltd, the five-company consortium led by Bangalore-based infrastructure conglomerate GMR Group that is upgrading Delhi airport, has managed to raise over Rs 1,000 crore (10 billion) to meet its financial obligations for the Rs 8,890-crore (80 billion) project.
In a move that would have a major impact on flight services across the country, around 15,000 employees of the Airports Authority of India (AAI) are planning to go on an indefinite countrywide strike from May 1.
The likes of SRK, Nirula and Mallya are in the race to own an IPL team for the upcoming Twenty20 series.
According to GHIAL chief executive officer P S Nair, the company is also introducing austerity measures to reduce cost of operations by 15-20 per cent besides exploring other sources of revenue. During the first six months of the current financial year, domestic traffic from the new airport has declined by 7.7 per cent to 2.49 million from 2.7 million in the corresponding period last year (from Begumpet airport).
DIAL, the GMR-led consortium modernising Delhi airport, had projected it would get only a Rs 800 crore-Rs 1,000 crore deposit for the entire 45 acre land in the hospitality district, leaving a gap in funding for the modernisation plan. The aviation ministry allowed it make up the shortfall by levying an ADF on passengers. With DIAL managing to persuade bidders for the hospitality district to increase security deposits by close to 50 per cent, the ADF may now be reduced.
Meet Abhinaya, the deaf and mute teenager in the Tamil movie titled Nadodigal.
International passengers departing from the Rajiv Gandhi International Airport at Hyderabad from April 23 onwards will have to pay Rs 1,000 ($25) towards user development fees (UDF). Announcing this in a statement, the new airport developer -- GMR Hyderabad International Airport Limited -- said that the fees would be collected with the approval of the ministry of civil aviation.
GMR Hyderabad International Airport Ltd, the consortium operating the new Hyderabad airport, has offered to halve ground-handling charges even as the civil aviation ministry allowed the domestic carriers to undertake their ground-handling till January 1, 2009. This will give the two sides enough time to resolve the contentious issue, which almost jeopardised the opening of the new airport and forced a postponement once.
GMR Hyderabad International Airport (GHIAL) has developed the Rajiv Gandhi International Airport at Shamshabad ahead of schedule, but the company officials are not in a position to tell when the new facility will commence commercial operations even three days after its inauguration.It is learnt that most of the private airlines, including domestic and international carriers, are yet to enter into an agreement with the new airport's two ground handlers.
In less than two months since the announcement in March, the state has mobilised an armada of small and medium enterprises keen on making components for large equipment manufacturers.
Bangalore International Airport Ltd (BIAL), the operator of the new airport at Devanahalli on the outskirts of the city, has ruled out withdrawing the user development fee (UDF) on both domestic and international passengers, saying it is needed to fund future expansion. On the contrary, GMR Hyderabad International Airport Ltd (HIAL) withdrew user fees for domestic passengers bowing to pressure from public, budget airlines and the government.
Risk perceptions will impact India's risk-rating, say experts.
Jet Airways Executive Director Saroj K Datta declined to comment, stating he has not got any circular from DIAL.
The residents of Delhi on Friday woke up to dense fog with minimum temperature settling at 12 degrees Celsius, five notches above normal.
MIAL's move comes at a time when the national carrier is in the process of joining Star Alliance.
Aviation Minister Praful Patel's outburst against Planning Commission Deputy Chairman Montek Singh Ahluwalia is perhaps not difficult to understand since most people think it was actually Patel who should have been keeping an eye on the delays at the Delhi airport.
After losing out to Bangalore-based GMR group for the controversial Delhi airport modernisation contract, Anil Dhirubhai Ambani group is now set to battle it in Prague, the capital of the Czech Republic, for which bids are shortly to be invited. Late last week, ADAG company Reliance Airport Developers Private Limited submitted an expression of interest to the Prague airport authorities. the ADAG company is willing to take a 100 per cent stake in the airport.
Passengers will have to pay a development fee of Rs 200 for domestic flights and Rs 1,300 for international travel from March 1 over and above their ticket costs. The development fee is being levied for 36 months only to help the GMR-led consortium over its running costs to modernise Delhi's IGI Airport. The levy will be reduced after six months.
Considered a powerful player in Maldivian politics, former President Maumoon Gayoom on Thursday sought to allay India's concerns over rise of fundamentalism in Maldives by assuring strict implementation of a law to check radicalisation of Islam once his party returns to power.
Audit firm PricewaterhouseCoopers, which has major companies like HCL Infosystems, GMR Group, Bosch, and Maruti Suzuki among its over 100 clients in India, faces a possible axe after its role has come into question in the Satyam fraud case, of about Rs 7,800 crore (Rs 78 billion).
The airport had asked for a UDF of at least Rs 600 from domestic passengers travelling out of Andhra Pradesh. For passengers travelling within the state, it had demanded a user fee of Rs 350. UDF is the fee levied at the airport on departing passengers to enable the airport developer bridge the gap between expenditure and admissible revenue as stipulated by the ministry guidelines.
The Delhi Daredevils, IPL's Delhi team which is owned by the GMR Group, has recruited a student of the Postgraduate Programme in Public Policy and Management (PGP-PMP) from the institute to manage its operations. Colonel Vinod Bisht, the student, has been hired as assistant vice-president (operations) for the company for a Rs 30-40 lakh package.
Company working on 'win-win' solution.
Having cleared over 200 special economic zone proposals, the Board of Approval will take up 46 fresh cases on Friday.
The government on Tuesday gave formal approval to the multi-services special economic zone of Mukesh Ambani- promoted Reliance Industries Limited in Gurgaon and in principle approval to the company's port-based SEZ in Rewas.
The finance ministry has opposed the proposed airport at Greater Noida, and has instead favoured upgrading infrastructure at Delhi airport, which it says makes more economic sense. This has come as a shot in the arm for the GMR group, the private sector developer of Delhi airport, which has been opposing another airport so close to the existing one.
Delhi International Airport (P) Ltd will appoint US-based Parsons Brinkerhoff International Inc as project management consultant for the Delhi Airport Modernisation Project.
Omaxe, L&T and Unitech have already applied for the Rs 200-crore (Rs 2 billion) development projects at Udaipur and Amritsar. The work includes commercial operations and maintenance of the airport terminal building, besides development of 46,268 sq metres and 110,308 sq metres of land for city-side development and cargo handling facilities at Udaipur and Amritsar, respectively.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
Bollywood actor Akshay Kumar was on Monday roped in as brand ambassador of the Indian Premier League's 'Delhi Daredevils' team.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances