Mial

Mumbai International Airport Ltd (MIAL) reported a one-time exceptional expense of Rs 627.37 crore due to past dues

MIAL's net loss in FY22 would have been higher had it included the annual fee payment - which is 38.7 per cent of revenues - to Centre-run AAI under its head 'total expenditure' of the balance sheet

Delhi, Bengaluru and Chennai were the top three domestic destinations, while Dubai, Abu Dhabi and Singapore took the top three positions for highest international traffic

The capital raise comes in the backdrop of recovery in domestic air traffic and resum­ption of scheduled internatio­nal services from March-end

Mumbai International Airport has hired a group of banks to arrange a sale of US dollar-denominated bonds to refinance existing debt and for capital expenditure, a bank document showed on Monday.

The capital raise happened last month and around Rs 6,500 crore of loans owned to domestic lenders were repaid

With the golden geese laying golden eggs no more, the Modi government's decision to sell Delhi and Mumbai airports could well save it from flogging a dead horse in the coming years

The group is reshuffling top management of Mumbai Airport after acquiring 74 per cent stake last year

Verdict a respite for MIAL, which invoked force majeure due to Covid disruptions

MIAL cites court's status quo order on escrow account for situation

While questions may arise over the dominance of a single corporate group in running airports, it pretty much fits into the govt's plan to exit this space and earn revenue without working for it

A portion of this was routed back to the promoters of the GVK Group in the joint venture company through multiple complex transactions, according to the federal agency

While the group hadn't built on its airport assets, its entry into coal, power and roads was the proverbial last straw that saw its lose its crown jewel in Mumbai

The deal has been finalised even though a consortium of foreign investors which had earlier signed a binding agreement with GVK group for buying the asset has legally challenged it

August-end loan deadline brought GVK to negotiating table

Issues related to airport deal raise questions

Call Mumbai airport stake sale to Adani a breach of agreement

RBI has formed a panel under the chairmanship of K V Kamath to advise on debt restructuring of corporate borrowers facing stress due to the pandemic.

The company is aiming to become the leading airport operator in the country after getting access to the key Mumbai airport and that has driven investor sentiment and confidence, say experts

After CRISIL downgrades company debt, bankers ask GVK group to come out with repayment plan