 "airports, airport, coronavirus, gmr group")
GMR group and Group ADP have restructured contours of the deal under which the French airport operator will pay Rs 9,720 crore instead of Rs 10,780 crore which it had agreed to pay earlier.
The restructuring shows the long lasting impact of Covid-19 on the aviation sector with air traffic taking more time to recover than originally expected.
However, ADP has increased the earn out payment by Rs 1,060 crore from Rs. 4,475 to Rs 5,535 crore. Earnouts are payment based on certain performance conditions GMR Airports has to achieve by 2024. The targets include increasing footfall of passengers and
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