GMR Infrastructure today said the Andhra Pradesh High Court has allowed collection of tariff at the Hyderabad International airport, as was collected earlier. The airport is operated by GMR Hyderabad International Airport Ltd (GHIAL), part of the GMR group. According to a regulatory filing by GMR, GHIAL had filed a writ petition with High Court at Hyderabad, seeking approval to collect tariff/airport charges as was being collected prior to April 1, 2014.
The writ petition was filed pursuant to the policy direction by the Civil Aviation Ministry to adopt Hybrid Till with 30 per cent cross subsidisation for Hyderabad airport and pending compliance, the filing to the BSE said. "On October 6, 2015, the High Court at Hyderabad has given/issued a ruling in favour of GHIAL which will now enable Hyderabad airport to collect tariff as was earlier collected," it added. Under the Hybrid Till model, the airport operator adds a part of the non-aeronautical (duty-free shops, hotel, restaurant, among others) revenue and the total revenue from the aeronautical (landing, parking and ground handling charges) side to compile total earnings.
Shares of GMR Infrastructure declined nearly one per cent today to close at Rs 13.92 on the BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
