Revenue share case: Delhi Airport wins Rs 2,300 cr arbitration award against AAI

GMR group-owned Delhi Airport has won an arbitration against the state-owned Airport Authority of India (AAI) over revenue sharing during the COVID-19 period. In its award, the tribunal has given various directions in favour of the airport, according to which the airport will receive a refund of Rs 500 crore from AAI while getting a waiver of Rs 1,800 crore payment to the authority.

Sources said that AAI is likely to challenge the award. The share price of GMR airports increased by 3.13% on the exchange and is currently trading at Rs 86.52. As part of privatisation agreement in 2006, Delhi Airport pays 45.99% of its annual revenue as concession fees to AAI.