The GMR Group-owned Delhi International Airports (DIAL) has won an arbitration against the state-owned Airports Authority of India (AAI) over revenue sharing during the pandemic period of March 19, 2020, to February 28, 2022.
Sources said the tribunal’s directive entails a refund of Rs 500 crore from AAI and a waiver of Rs 1,800-crore payment to the authority.
According to a regulatory filing by the GMR Group, the tribunal has also ruled that the concession agreement, which gives it the right to operate the airport till 2036, shall be extended by one year and eleven months. AAI is likely to challenge the award.
