New Delhi: Airlines seeking to use non-operational airports, which require substantial investment for revival, will have to submit a bank guarantee of Rs.1 crore to the government under the regional connectivity scheme.
Signalling a cautious approach towards reviving dormant airports, the sum will be in addition to Rs.50 lakh that airlines would be required to submit as bank guarantee for every route they wish to connect as a part of the scheme.
The draft scheme says if a “non-operational” regional airport requires investment for rehabilitation of infrastructure at airside or terminal building by the airport owner, the airline will be required to submit Rs.1 crore to the government which will be returned once the airline uses the revived airport for at least one year.
Moreover, if the airport operator fails to revive the airport within two years of an airline submitting such an “additional performance guarantee”, the bank guarantee would be returned.
The draft regional connectivity scheme announced by the government on July 1 seeks to revive torpid airports and increase air connectivity in towns and cities. The government plans to revive 50 dormant airports for around Rs.100 crore each in the next three years.
2/07/16 Somesh Jha/The Hindu
To Read the News in full at Source, Click the Headline
Signalling a cautious approach towards reviving dormant airports, the sum will be in addition to Rs.50 lakh that airlines would be required to submit as bank guarantee for every route they wish to connect as a part of the scheme.
The draft scheme says if a “non-operational” regional airport requires investment for rehabilitation of infrastructure at airside or terminal building by the airport owner, the airline will be required to submit Rs.1 crore to the government which will be returned once the airline uses the revived airport for at least one year.
Moreover, if the airport operator fails to revive the airport within two years of an airline submitting such an “additional performance guarantee”, the bank guarantee would be returned.
The draft regional connectivity scheme announced by the government on July 1 seeks to revive torpid airports and increase air connectivity in towns and cities. The government plans to revive 50 dormant airports for around Rs.100 crore each in the next three years.
2/07/16 Somesh Jha/The Hindu
