Delhi airport invokes force majeure over revenue sharing with AAI
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 to its own account.
