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GMR led Delhi Airport signs land license agreement with Airbus India to develop their first full flight simulator

Posted On: 2017-03-16 19:11:39

Delhi International Airport (P) Ltd, a GMR led consortium, today announced that it has signed a land license agreement with Airbus for setting up India's first full flight simulator at the Aerocity - Terminal District of Indira Gandhi International (IGI) Airport.

On the 1.11 acre of land, the France based company will set up India's first full flight simulator to address the growing demand of trained pilots and aircraft maintenance engineers. Airbus will also establish its India Headquarter within the same development.

The land license agreement was signed today between DIAL and Airbus India for a period till 31st March, 2036. DIAL has received the initial security deposit and ADC and will also receive an annual license fee from this license.

Airbus India had decided to open its full flight training centre at Delhi Aerocity - Terminal district keeping in mind the growing requirements of its customers as Delhi is a key base for most of the airlines - Air India, Indigo and Vistara.

Commenting on the development, a DIAL spokesperson, said: "DIAL has taken an initiative to develop Aerocity into a world class business destination and provide excellent amenities and facilities to various aviation and other related businesses. This initiative is driven by the Hon'ble Prime Minister's 'Make in India' and 'Skilling India' vision. The Terminal district of Delhi Aerocity will see development of over two million square feet.. This is the second significant transaction in Delhi Aerocity after recent deal signed with Bharti Realty Holdings Limited. DIAL is putting together a plan for development of infrastructure for public amenities at Aerocity in an effort to increase the velocity of land monetisation."

DIAL earlier had awarded Bharti Realty Holdings Limited, the contract to design, develop, construct, finance, own, operate and maintain land parcel at Delhi Aerocity - Gateway District with a maximum permissible area of 1.96 lakh square meters. The transaction involved upfront payments of Rs. 315 crore and a license fee equivalent to 20 per cent of revenue with minimum guaranteed payments.

Delhi Aerocity has now emerged as a preferred hospitality and commercial hub in the National Capital Region (NCR). Approved in 2007, in its first phase was predominantly developed as a Hospitality District for hotels and corporate offices in the heart of IGIA. Currently over 3000 hotel rooms are operational and over 1500 hotel rooms are under development that will get operational in a phased manner. Prominent hospitality brands at Aerocity include Pullman, Novotel, Holiday Inn, IBIS, JW Marriott, Hyatt Andaaz and others that provide a complete range across luxury, mid-segment and budget hotel categories. Apart from the hotels, the hospitality district also showcases the Worldmark I, 2 & 3 which is a premium office and retail development of approx. 1.1 million square feet by Bharti Group.

Indira Gandhi International Airport (IGIA) recently has been adjudged as world's number 2 airport in the highest category - over 40 million passengers per annum (MPPA) - as per Airports Council International (ACI) - ASQ 2016 rankings.

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.17.2 as compared to the previous close of Rs. 16.4. The total number of shares traded during the day was 8652833 in over 2709 trades.

The stock hit an intraday high of Rs. 17.35 and intraday low of 16.4. The net turnover during the day was Rs. 147403971.


Source: Equity Bulls

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