{"id":389905,"date":"2020-12-17T08:32:53","date_gmt":"2020-12-17T03:02:53","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=389905"},"modified":"2020-12-17T09:30:36","modified_gmt":"2020-12-17T04:00:36","slug":"delhi-airport-invokes-force-majeure-over-revenue-sharing-with-aai","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/delhi-airport-invokes-force-majeure-over-revenue-sharing-with-aai\/","title":{"rendered":"Delhi airport invokes force majeure over revenue sharing with AAI"},"content":{"rendered":"<p>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. <\/p>\n<p>DIAL operates the Indira Gandhi International Airport &#8211; India\u2019s largest in terms of passenger footfall. <\/p>\n<p>According to the agreement signed between AAI and DIAL in 2006 &#8211; as part of the privatisation process of Delhi Airport &#8211; DIAL paid 45.99 per cent of its annual revenue as concession fee to AAI. <\/p>\n<p>DIAL deposits the money on a quarterly basis in an escrow account, which AAI then transfers to its own account.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &#8211; India\u2019s largest in terms of passenger footfall. According to the agreement signed between AAI and DIAL in 2006 &#8211; as part of the privatisation process of Delhi Airport &#8211; 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 [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-389905","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=389905"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389905\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=389905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=389905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=389905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}