Government of India

Financing Plan for Airports

Report of the Task Force

Published by The Secretariat for the Committee on Infrastructure Planning Commission, Government of India Yojana Bhawan, Parliament Street New Delhi - 110 001

www.infrastructure.gov.in
July 2006

Contents
Preface 1. 2. 3. 4. 5. 6. 7. 8. Introduction Capital costs of the development plan Past expenditure and absorption capacity Modes of delivery Phasing and prioritisation Funding of the Capex programme Sources of Financing Recommendations of the Task Force 4 6 9 10 11 12 14 16

Annexure I Passenger Traffic trends and forecasts for Metro airports Annexure II Passenger Traffic trends and forecasts for non-Metro airports Annexure III Upgradation/ improvement of CNS-ATM infrastructure: Projects in progress, projects to be taken up in 2006-2012 Annexure IV Proposed phased Capex in each of the thirty five non-Metro airports (excluding CNS-ATM and other equipments) Annexure V Status of ongoing projects at the non-Metro airports Annexure VI Assumptions for the Financing Plan Annexure VII Statement of Internal Resources of AAI: 2005-06 to 2015-16 Annexure VIII Cash Flow Statement: 2005-06 to 2013-14

List of Annexures

20 22 28 30 34 40 42 44

Secretariat for Committee on Infrastructure

Preface

This Report outlines the financing plan for upgrading and augmenting the airport infrastructure in India. It responds to the direction of the Committee on Infrastructure, chaired by the Prime Minister, to evolve a plan for creating world-class airport infrastructure. The Report was prepared by a Task Force chaired by Shri Anwarul Hoda, Member, Planning Commission, and including experts and representatives from the Ministry of Civil Aviation, the Airports Authority of India, Planning Commission and Ministry of Finance. It was considered and approved by the Committee on Infrastructure in June 2006. The quality of airport infrastructure contributes directly to a countrys international competitiveness and economic growth by facilitating the smooth movement of people and high value cargo, spurring trade and tourism. In the past, airport development has not kept pace with the growth of the Indian economy, especially the quantum jump in passenger and cargo air traffic since 2002. As a result, several major airports are congested and offer inefficient services. To ensure time-bound creation of world-class facilities, the Report recommends the development of Metro and greenfield airports primarily through Public Private Partnerships (PPPs). Greenfield airports at Bangalore and Hyderabad are already under construction through PPPs. Modernisation of Delhi and Mumbai airports through PPPs has also commenced. The modalities for improving

airport infrastructure to international standards in Chennai and Kolkata are to be finalized after further consultations. In respect of non-Metro airports, the Task Force recommended that city-side development be undertaken by PPPs while the terminal and airside development be assigned to AAI, keeping open the possibility of PPPs in selected airports. The possibility of developing select non-Metro airports through wholly-owned subsidiaries of AAI would also be explored. An investment of about Rs. 40,000 crore is projected for the development of airports during the period 2006-07 to 2013-14, of which approximately Rs. 31,000 crore is envisaged from PPPs. Implementation of development plans on these lines has already commenced.

(Gajendra Haldea)

Introduction

1.1 In the years 2002-03, 2003-04 and 200405, the aircraft movement at the 126 airports managed by AAI increased by 10%, 13.5% and 12.6% respectively; passenger movement by 9.96%, 10.69% and 21.6% respectively; and cargo movement by 15%, 8.75% and 19.9% respectively. 1.2 Passenger traffic trends and forecasts for the Metro Airports at Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata are indicated at Annex-I. These airports are being/ to be developed through Public Private Partnerships (PPPs). In addition, thirty five non-metro airports have been proposed for development by AAI. Their traffic trends and forecasts are indicated in Annex-II. 1.3 The Government is committed to policies that ensure time bound creation of world class airports and for this purpose to evolve a suitable policy and regulatory framework for Public Private Partnerships (PPPs) aimed at maximizing capital inflows and efficiencies. The Committee on Infrastructure (CoI) in its first meeting held on 10.12.2004 mandated that a framework for airport development up to 2010
Table 1: Airport development programme presented to CoI
Particulars Restructuring / Modernisation for world class airports Greenfield airports Upgradation Airport

would be planned assuming an annual traffic growth of 16%. 1.4 The broad contours of the airport development programme, as presented to the Committee on Infrastructure, are as given in Table 1. 1.5 Airports Authority has taken up the modernization of Delhi and Mumbai airports by adopting the Joint Venture route, wherein a Joint Venture Company (JVC) has been formed with 74% private equity stake and 26% equity stake of AAI. The maximum equity contribution by AAI would be Rs. 500 crore for each airport. The Delhi and Mumbai airports have been transferred to the JVC. Kolkata & Chennai airports would also be modernised through a suitable model. 1.6 In the third meeting of the Empowered Sub-Committee of the Committee on Infrastructure held on October 3, 2005, it was decided to set up a Task Force headed by Shri Anwar ul Hoda, Member, Planning Commission and comprising representatives of Ministry of Civil Aviation, Department of Economic
Indicative Cost 15,000 5,000

(Rs. in crore)

Delhi & Mumbai Chennai & Kolkata

Modernisation / Improvement Total investment by 2010

25 selected airports 55 airports

Bangalore, Hyderabad, Goa, Pune, Navi Mumbai, Nagpur (Hub) & Greater Noida

10,000 7,000 3,000

40,000

4 Report of the Task Force

Affairs, Department of Expenditure, Planning Commission and AAI to deliberate and submit a financing plan for development of airports. 1.7 The Task Force was constituted as follows: (i) Shri Anwar ul Hoda, Member, Planning Commission (ii) Shri Adarsh Kishore, Finance Secretary (iii) Shri Askok Jha, Secretary, Department of Economic Affairs (iv) Shri Ajay Prasad, Secretary, Ministry of Civil Aviation (v) Shri Gajendra Haldea, Adviser to Deputy Chairman, Planning Commission (vi) Shri B. N. Puri, Adviser (Transport), Planning Commission (vii) Shri K. Ramalingam, Chairman, Airports Authority of India 1.8 The Task Force held meetings on 7th November, 2005, 6th January, 2006, 27th March, 2006 and 5th May, 2006 to formulate its recommendations. The Report of the Task Force was discussed and commended by the Empowered Sub-Committee of the Committee on Infrastructure in its meeting held on 15th May, 2006. The Report was considered by the Committee on Infrastructure in its twelfth meeting, held on 9th June, 2006 and approved with some modifications, which have been incorporated in the Financing Plan.

Financing Plan for Airports 5

Capital costs of the development plan

Capex for Delhi and Mumbai airports

2.1 The development plans for Delhi and Mumbai airports envisage an investment of Rs. 5,270 crore and Rs. 6,130 crore respectively (totaling Rs.11,400 crore) during the period 2006-07 to 2013-14.

BIAL is already considering an additional investment of Rs. 400 crore. The estimated investment for these two airports could be assumed as Rs. 4,000 crore. 2.5 The estimated cost in respect of Navi Mumbai airport has been taken at Rs. 2,500 crore and the cost for other airports namely Goa, Pune, Greater Noida and Kannur has been taken at Rs.1,500 crore each. This would add upto Rs. 8,500 crore.

Capex for Kolkata and Chennai airports

2.2 The expenditure on these two airports has been considered at 50% of the expenditure of Delhi and Mumbai airports i.e. Rs. 5,700 crore, to be spent during the period 2008-09 to 2013-14.

Capex on CNS-ATM and other equipment

Capex for greenfield airports

2.3 The following greenfield airports projects have been tentatively identified: (a) Bangalore (b) Hyderabad (c) Goa (d) Navi Mumbai (e) Pune (f) Greater Noida (g) Kannur 2.4 The greenfield Projects at Bangalore and Hyderabad are already under implementation. The estimated cost of Bangalore and Hyderabad airports is Rs. 1,410 crore and Rs. 1,760 crore respectively, adding up to Rs. 3,170 crore. These projects were initiated when traffic growth was comparatively low. It is expected that in order to meet the increased traffic, additional investments would become necessary.
6 Report of the Task Force

2.6 In addition to the above, a sum of Rs. 2,728 crore has been earmarked during the years 2006-07 to 2013-14 for upgradation/ improvement of equipment. This includes a sum of Rs.1,520 crore for CNS-ATM equipment, Rs. 1,078 crore for other equipment and

Table 2: Planned Capex on equipment and instrumentation (Rs. in crore)

Year CNS-ATM Equipment 180 250 CNS Other Total Equipment Equipment for greenfield airports 50 30 100 87 191 100 150 500 371 400

2006-07 2007-08 2008-09 2009-10 2011-12 2010-11

350 140 150

50

2012-13 2013-14 Total

150 150 130

150 150

300 300

300

257

1,520

150

1,078

150

2,728

300

Rs. 130 crore for CNS-ATM infrastructure at greenfield Airports other than Hyderabad and Bangalore. A list of projects in progress and projects to be taken up is at Annex-III. 2.7 In addition, AAI has to invest Rs. 100 crore for upgradation of MET equipment at various airports during 2006-07, 2007-08 and 2008-09. This investment will be recouped from adjustments in the payments for meterological services made by AAI to the Met department.

Additional airports will be taken up for development on need basis. 2.9 Preliminary estimates of the cost of providing infrastructure for the expected growth in passenger and aircraft traffic at 10 non metro airports have been prepared. Estimates for the remaining airports are yet to be prepared. The preliminary estimates for all the 35 airports, excluding CNS-ATM equipment, are indicated in Annex -IV. The Capex has been proposed under the three heads viz. (a) Terminal building, carpark and cargo; (b) Airside; and (c) City side (cargo complexes, hotels and flight kitchens) 2.10 AAI had proposed that the capital investment for commercial development of land (city side development) of non-Metro airports shall be made by private entities. It was proposed that out of their commercial revenues, private partners would pay land lease and revenue share to AAI. Based on the reports of the consultants for ten airports, an investment of Rs.1,150 crore had been projected for commercial development. In addition, an investment of Rs. 350 crore could be envisaged for the remaining airports. 2.11 As per the opinion of the Attorney General of India, only services/ facilities that have a relationship to the functions under Section 12 of AAI Act may be admissible at these airports. It would not be lawful for AAI to grant a lease to any person in respect of any airport property for the purpose of construction of independent golf courses, business parks,
Financing Plan for Airports 7

Capex for thirty five non-metro airports

2.8 Ministry of Civil Aviation has proposed development of 35 non-metro airports, keeping in view the potential for traffic, tourism, business etc. The development of these airports was proposed in three Phases as follows: (a) Phase-I (10 airports): Ahmedabad, Amritsar, Guwahati, Jaipur, Udaipur, Trivandrum, Lucknow, Goa, Madurai and Mangalore. In case of project specific problems, some airports may need to be substituted. (b) Phase-II (15 airports): Agati, Aurangabad, Khajuraho, Rajkot, Vadodara, Bhopal, Indore, Nagpur, Vishakapatnam, Trichy, Bhubaneswar, Coimbatore, Patna, Port Blair, Varanasi. (c) Phase-III (10 airports): Agra, Chandigarh, Dimapur, Jammu, Pune, Agartala, Dehradun, Imphal, Ranchi and Raipur.

hi-tech parks, commercial offices, leisure facilities, commercial arcades, sport complexes, shopping complexes and convention centres which are primarily meant for general public and have otherwise no relationship with the functions of the AAI under Section 12 of AAI Act, 1994. 2.12 The above legal requirements would need to be kept in mind while formulating plans. The proposed commercial exploitation would be restricted to cargo complexes, hotels and flight kitchens. Parking could also be included if necessary. MoCA would formulate a Model Concession Agreement for this purpose and after inter-ministerial deliberations, submit it to CoI for approval. 2.13 The estimated expenditure on development of the 35 non-Metro airports is as shown in Table 3.
Table 3: Planned Capex on thirty five non-Metro airports (Rs. in crore)
Phase Terminal Building, Air Side City side Carpark, Cargo 1,240 530 1,496 682 294 420 1,050 300 150 Total

Capex on aerodrome works at other non-Metro Airports

2.15 In addition to the 35 non-Metro airports covered under the MoCA proposal, an investment of Rs. 100 crore per annum in the period 2006-07 to 2013-14 has also been projected for upgradation, maintenance and renovation of the civil infrastructure at other non-Metro airports. This totals to an investment of Rs. 800 crore on non-Metro airports other than the above thirty five airports.

Capex on North East airports

2.16 An investment of Rs. 340 crore is envisaged for development of Paykong airport in Sikkim, Rs. 150 crore for Chiethu airport in Nagaland and Rs. 120 crore for Itanagar airport. This totals to an investment of Rs. 610 crore.

Award of concessions/ contracts

Phase-I

Phase-II Total

Phase-III

2,222 974

2,966

2.17 All concessions/ contracts for the above development works would be awarded by 2012 though actual expenditure may spill over to 2013-14.

3,266

1,396

1,500

6,162

Cost control

2.14 AAI Board has approved the master plans for the 10 Phase-I airports of Ahmedabad, Amritsar, Guwahati, Jaipur, Udaipur, Trivandrum, Lucknow, Goa, Madurai and Mangalore. The status of the works undertaken/ proposed to be undertaken is detailed in Annex-V.
8 Report of the Task Force

2.18 Development costs would be optimised by use of modular design of terminals and other facilities so as to avoid creation of excess capacity and enable additions in phases, as necessary. Moreover, the specifications should be economical, so that Budget facilities are developed, thereby containing airport infrastructure costs. In particular, the example of Budget terminal at Singapore was referred to.

Past expenditure and absorption capacity

Table 4: Past Capex on airports by AAI

Year 2000-2001 2001-2002 2002-2003 2004-2005 2003-2004 Non-Metro airports 249 237 283 444

3.1 Details of capital expenditure incurred by AAI during the past five years are shown in Table 4 below. The expenditure was incurred through contracts and provides a broad indication of AAIs capacity to absorb budgetary outlays of about Rs. 900 crore per annum under this mode.
(Rs. in crore)
Total 349 446

Metro airports 112 70

2005-06 (RE)

606

442

164

122

162

319 566

346

952

606

3.2 Any significant increase in the annual allocation for the contract mode may be avoided so as to preserve the minimum requisite supervision and quality of works. It was, therefore, felt that AAI could take up annual investments in the range of about Rs. 1,000 crore per annum. This would include expenditure on civil works as well as on equipments. 3.3 In order to ensure on-time and on-cost delivery of projects in a scenario of significantly higher investments, spread over several locations, MoCA should examine the possibility of AAI hiring supervision consultants for assistance in project management, quality assurance etc.
Financing Plan for Airports 9

Modes of delivery

4.1 Delhi and Mumbai airports have already been awarded on PPP mode. Greenfield airports at Bangalore and Hyderabad are already under implementation through the PPP route and the remaining greenfield projects would also follow the PPP route. The mode of development for Kolkata and Chennai airports is to be decided after further consultations. 4.2 In respect of non-Metro airports, MoCAs view is that since they are all loss making, they may not be attractive for private participation. The Ministrys assessment is also that assigning the modernization of these airports to AAI would contribute to harmonious industrial relations in that organization. Privatisation of these airports would also compound the problem created by the staff who would eventually be rendered surplus in privatized airports, as the idea was to relocate such staff in non-Metro airports. However, the possibility would be kept open to take up selected airports in the PPP mode. 4.3 The possibility of creating AAI subsidiaries for some of the larger non-Metro airports or for clusters of smaller airports would be explored with a view to creating independent entities that would be more responsive to local needs, besides enhancing the opportunities for raising the requisite resources.

10 Report of the Task Force

Phasing and prioritisation

5.1 In light of the considerations spelt out in paragraph 4 above, the following course of action is to be adopted: (a) In principle, the airside and the terminal building development of non-Metro airports would be entrusted to AAI and it would be allowed to go ahead with construction work in respect of all the 35 airports. (b) Progress in execution of the development work should be reviewed in 18-24 months. (c) The possibility of going in for PPP in respect of a few selected airports should be kept open, taking into account the rapid development in the aviation sector in the country. (d) For selected airports, particularly the larger ones, wholly owned subsidiaries of AAI may be created for development and operation of the respective airports. 5.2 The capital expenditure for development of airports may be prioritised as under:
Table 5: Priority of different phases
Priority 1. 2. 3. 4. 5. 6. CNS-ATM & Other Equipment North East airport Phase-II Phase-III Phase-I Phase

5.3 Major works should be taken up as part of a comprehensive airport project and not on a stand alone basis. While preparing such project reports for approval, due consideration should be given to the IRR requirements. 5.4 The implementation of this plan, including investment approvals would be subjected to the normal due diligence associated with PIB/ PPPAC procedures.

Other aerodrome works

Financing Plan for Airports 11

Funding of the Capex programme

Delhi and Mumbai airports

6.1 The following funding pattern has been adopted as per the projections of the Financial Consultants of AAI:
Table 6: Funding of Delhi and Mumbai airports (Rs. in crore)
S. No. 1. 2. 3. 4. Source Equity contribution by AAI Internal Resources of JVC Borrowings of JVC Funding 1,200 302

Greenfield airports
6.3 AAI Board had approved a policy whereby equity for greenfield airport projects would be funded by private entities (74%), State Government (13%) and AAI (13%, subject to a cap of Rs. 50 crore per airport). In future, wherever the State Governments express interest in development of greenfiled airports, they should be allowed to take the initiative. 6.4 The funding plan approved for greenfield projects at Bangalore and Hyderabad is as given in Table 7. 6.5 The details of estimated cost, phasing thereof and funding pattern are yet to be worked out/ frozen in respect of other greenfield airports. However, keeping in view the policy approved by the AAI Board for equity stake of AAI in such greenfield projects, a sum of Rs 200 crore has been provided in the financing plan as AAIs contribution to equity of greenfield airports that are likely to be developed by 2012.

Private Equity

2,298

Total

11,400

7,600

Chennai and Kolkata airports

6.2 The equity infusion by AAI for Chennai and Kolkata JVCs has been estimated as approximately 50% of the equity investments in case of Delhi & Mumbai airports. The equity infusion by AAI during the period 2008-09 to 2013-14 will be Rs.150 crore.

Table 7: Approved funding plan for Bangalore and Hyderabad airports

Capital (Rs. in cr.) 422 49 HIAL Percentage of total 24% 3% Capital (Rs. in cr.) 350 735 43

BIAL

State Support Loans Total

AAI Share

Percentage of total 25% 3%

Equity of Private Promoters

1,762

961

330

100%

54%

19%

284

1,412

100%

52%

20%

12 Report of the Task Force

CNS-ATM and other equipment

6.6 The expenditure on CNS-ATM and other equipments is proposed to be met out of internal resources of AAI.

Aerodrome works at other non-Metro airports

6.9 The proposed expenditure of Rs. 800 crore on other aerodrome works would be met out of internal resources of AAI.

Non-Metro airports

6.7 AAI has proposed to fund the entire airside and terminal development through its internal resources, surplus revenues from Delhi, Mumbai, Chennai and Kolkata and market borrowings. The funding of capital expenses on 35 non-Metro airports, except commercial development of land, is as given in Table 8.
Table 8: Funding of development of airside and terminals for non-Metro airports (Rs. in crore)
S. No. 1. 2. 3. Source Internal resources of AAI Amount 3,116 300 175

Upfront payment from JVCs - Delhi &Mumbai - Kolkata & Chennai Min. of Defence & AP Govt. for Vizag project Total Borrowings

4.

1,000 71

4,662

6.8 In addition to the above, it is assumed that private sector investment aggregating Rs. 1,500 crore would be deployed on non-aeronautical facilities such as cargo complexes, hotels, flight kitchens and parking. The proposed investments by the private sector would be undertaken on the basis of a duly approved MCA.

Financing Plan for Airports 13

Sources of Financing

Assumptions
7.1 For evolving a financing plan, the Task Force adopted a set of assumptions which have been stated at Annex-VI. 7.2 For Metro and greenfield airports, the projected private investment has been taken into account and only the investment to be made by AAI in equity and CNS-ATM has been included in the financing plan of AAI.

Table 10: Profits of AAI

Particulars

Revenue

2000-01 2001-02 2002-03 2003-04 2004-05

(Rs. in crore)
3000 685 325

Expenditure

Profit before tax Profit after Tax

1514 359 244

1873

1768 477 267

2245

1887 497 282

2384

2087 544 345

2631

2315

Public Private Partnerships (PPPs)

7.3 The total investment from PPPs is projected as given in Table 9.

Table 9: Projected Investments from PPPs in airports (Rs. in crore)

S. No. 1. 2. 3. 4. 5. Airport Delhi and Mumbai Private Investment 11,400 4,000 5,700 1,500

7.5 Based on the assumptions in Annex-VI, the projections of net internal resources available for financing capital expenditure are shown in Annex-VII. These internal resources will be used to fund the entire airport development programme including investments in CNS-ATM and other equipments.

ADF/ UDF charges

Bangalore and Hyderabad Chennai and Kolkata Five Greenfield airports City side development Total

8,500

31,100

Internal Resources of AAI

7.4 AAI has been funding its capital expenditure primarily out of its internal resources. AAI had General Reserves of Rs. 1,940 crore and other Reserves of Rs. 1,037 crore as on 31.03.2005. Its loan liabilities are insignificant, with total loans as on 31.3.2005 aggregating Rs. 121 crore. The profit after tax generated by AAI in the last five years is shown in Table 10.
14 Report of the Task Force

7.6 It was suggested by AAI that most of the projects being contemplated under the nonMetro airports development initiative pertain to Airside and Terminal Buildings and the projects are likely to yield either negative IRR or an IRR below the PIB norm of 12%. As such, levy of ADF/ UDF on passengers at these airports was proposed. 7.7 The Task Force felt that users should not be burdened with ADF/ UDF for financing un-viable projects. This is particularly important in the context of the policy objective to make civil aviation a mass rather than an elitist mode of travel and to make air travel more affordable. Accordingly, the financing plan does not include revenue from ADF/ UDF charges. Recourse to ADF/ UDF should be the last resort in individual cases after all efforts

at implementation through PPP have not succeeded. 7.8 In respect of projects that are economically desirable on grounds such as regional development, tourist and strategic importance etc, but with low financial viability, the following parameters may be adopted: (a) While calculating the viability for individual projects, a growth rate of 16% or more for 5 years and 12% for the next 10 years may be assumed considering the robust growth in recent years as also location-specific considerations. (b) The current PIB norm of 12% IRR should be relaxed to 8%. In case of North East States it could be relaxed to 0%. (c) In case AAI is required to take up projects with IRR below the level specified in (b) above, the respective State Governments may be asked to bridge the gap. In addition, projects with low IRR could also use the Viability Gap Funding.

Borrowings

available for hotels, cargo complexes, flight kitchens and parking.

7.11 The shortfall between the inflows from all sources and the projected outflows is proposed to be met out of market borrowings. However, these borrowings should be capped by the ability of AAI to repay. It is, therefore, recommended that borrowings may be allowed such that the debt service obligations do not exceed 50% of the profit before tax over the debt tenure.

Private Financing and Viability Gap Funding

Budgetary support

7.12 In taking a decision on seeking to develop selected airports on PPP basis in future (as enumerated in paragraph 5.1) it should be borne in mind that upto 20% of the capital costs could be financed through capital grants under the scheme for support to PPPs in Infrastructure. This would increase the possibility of attracting the private sector for participation in the development of airport infrastructure.

7.9 The financing plan for the entire airport development programme in its present form does not envisage any budgetary support to AAI.

Financing Plan

Private investment on city side facilities

7.10 It has been assumed that private sector funding aggregating Rs. 1,500 crore would be

7.13 The cash flow statement based on the assumptions at Annex-VI and the above sources of financing is at Annex-VIII.

Financing Plan for Airports 15

Recommendations of the Task Force

Capital costs of the development plan

8.1 The projected investments for the period 2006-07 to 2013-14 are Rs. 2,828 crore for equipment and instrumentation, including CNS-ATM; Rs. 11,400 crore for Delhi and Mumbai airports; Rs. 5,700 crore for Kolkata and Chennai airports; Rs. 12,500 crore for seven greenfield airports including Bangalore and Hyderabad; Rs. 4,662 crore for development of airside and terminal buildings for 35 non-Metro airports; Rs. 1,500 crore for cityside development of 35 non-Metro airports; Rs. 610 crore for development of greenfield airports in North East and Rs. 800 crore for other aerodrome works. This amounts to a total investment of Rs. 40,000 crore. All concessions/ contracts would be awarded by 2012 though actual investments may spill over to 2013-14. The assumptions used for making financial projections are stated at Annex-VI.

in the aviation sector in the country. The following course of action is to be adopted: (a) In principle, the airside and the terminal building development of non-Metro airports would be entrusted to AAI and it would be allowed to go ahead with construction work in respect of all the 35 airports. (b) Progress in execution of the development work should be reviewed in 18-24 months (c) The possibility of going in for PPP in respect of a few selected airports should be kept open, taking into account the rapid development in the aviation sector in the country. (d) For selected airports, particularly the larger ones, wholly owned subsidiaries of AAI may be created for development and operation of the respective airports.

Modes of delivery

Public Private Partnerships (PPPs)

8.2 Metro airports and greenfield airports have been earmarked for development through the PPP mode. However, the modalities for Kolkata and Chennai would be decided after further consultations. 8.3 In the interest of harmonious industrial relations, the terminal and airside development of non-Metro airports should be assigned, in principle, to AAI. However, the possibility of going in for PPP at anytime in respect of a few selected airports not being taken up immediately by the AAI, should be kept open, taking into account the rapid developments
16 Report of the Task Force

8.4 The total investment expected from PPPs in four Metro airports, seven greenfield airports and city side development is Rs. 31,100 crore. This would be suitably adjusted if Kolkata and Chennai airports are developed through an alternative modality. An Action Plan should be drawn up to mobilize these investments within the stipulated timeframe.

Phasing of development works at non-Metro Airports

8.5 Development of airports by AAI would require financing, monitoring and supervision

of the development works which should be taken up in a phased manner. The capital expenditure for development of airports by AAI may be prioritised as under:
Table 11: Priority of different Phases
Priority 1. 2. 3. 4. 5. 6. CNS-ATM & Other Equipment North East airport Phase

(a) While calculating the viability for individual projects, a growth rate of 16% or more for 5 years and 12% for next 10 years may be assumed. (b) The current PIB norm of 12% IRR should be relaxed to 8%. In case of North East States, it could be relaxed to 0%. (c) In case AAI is required to take up projects with IRR below the level specified in (b) above, the respective State Governments may be asked to bridge the gap. In addition, projects with low IRR could also use the Viability Gap Funding.

Phase-I (10 non-Metro airports) Phase-II (15 non-Metro airports) Other aerodrome works

Phase-III (10 non-Metro airports)

8.6 Subject to its capability to manage financing and construction, AAI would go ahead with construction work in respect of all the 35 non-Metro airports. Progress in execution of the development work should be reviewed in 18-24 months. 8.7 Major works should be taken up as part of a comprehensive airport project and not on a stand alone basis. While preparing such project reports for approval, due consideration should be given to the IRR requirements and the requisite approvals of PIB/ PPPAC/ CCEA would apply as usual.

City side development

8.9 Keeping in view the opinion of the Attorney General on land use, the plans for city side development will be restricted to the purposes covered under the AAI Act. The likely investment in PPPs on city side development is estimated at Rs. 1,500 crore. The proposed commercial exploitation could include cargo complexes, hotels, flight kitchens and parking. 8.10 MoCA should formulate a Model Concession Agreement for this purpose and after Inter-Ministerial clearance submit it for approval of CoI.

Investment decisions on individual projects of AAI

8.8 In respect of projects that are economically desirable on grounds such as regional development, tourist and strategic importance etc, but have low financial viability, the following parameters may be adopted:

Budgetary Support

8.11 AAI has projected sufficient internal resources to finance the development plan for non-Metro airports. Over and above these projections, private sector participation in city
Financing Plan for Airports 17

side facilities is visualised. As such, there is no need of any budgetary support for the programme.

Borrowings

8.12 The shortfall between inflows from all sources and the projected outflows is proposed to be met out of market borrowings. However, these borrowings should be capped by the ability of AAI to repay. Borrowings may be allowed such that the debt service obligations do not exceed 50% of the profit before tax over the debt tenure.

could be financed through capital grants under the scheme for support to PPPs in Infrastructure. This would increase the possibility of attracting the private sector for participation in the overall development of airport infrastructure.

Development through subsidiaries of AAI

ADF/ UDF

8.13 ADF/ UDF charges would add to travel costs unnecessarily and the Task Force did not, therefore, recommend any new charges. Secretary, Civil Aviation felt that the option should not be foreclosed. Finance Ministry (Department of Expenditure) also supported the same stand. The Planning Commission was of the view that costs should be kept low and available resources should be leveraged by AAI, if necessary, through PPP. The Task Force was of the view that recourse to ADF/ UDF should be the last resort in individual cases after all efforts at implementation through PPP have not succeeded.

8.15 The possibilities of creating AAI subsidiaries for some of the larger non-Metro airports would be explored with a view to creating independent entities that would be more responsive to local needs besides enhancing the opportunities for raising the requisite resources.

Cost control

8.16 Development costs would be optimised by use of modular design of terminals and other facilities so as to avoid creation of excess capacity and enable additions in phases, as necessary. Moreover, the specifications should be economical, so that budget facilities are developed, thereby containing airport infrastructure costs.

Project Management

Viability Gap Funding

8.14 In taking a decision on seeking to develop selected airports on PPP basis in future (as enumerated in paragraph 5.1) it should be borne in mind that upto 20% of the capital costs
18 Report of the Task Force

8.17 In order to ensure on-time and on-cost delivery of projects in a scenario of significantly higher investments, which would be spread over several locations, MoCA should examine the possibility of AAI hiring supervision consultants for assistance in project management, quality assurance etc.

Annexures I - VIII

Annexure I
Passenger Traffic Trends and Forecasts for Metro airports
PASSENGER TRAFFIC TREND S. No. Airport Int'l 2000-01 3949603 8933760 5174716 2001-02 3715383 8499209 4944825 2002-03 3844015 8096548 5087905 2003-04 4325485 2004-05 4938303 CAGR 5.70% 9.40% 4.10% 6.6%

DELHI

Total Int'l

Dom

4984157

4783826

5252533

10394164 5336152

6068679

12782979 6087620

7844676

12.00%

MUMBAI

Total Int'l

Dom

12177320 631558

7002604

11471431 590445

6526606

12260284 585236

7172379

13284445 591038

7948293

15665777 637355

9578157

8.10%

KOLKATA

Total Int'l

Dom

2686400 1833957

2054842

1970857

2561302

2826794

2241558

3090853

2499815

3494564

2857209

0.20% 6.80%

8.60%

CHENNAI

Total Int'l

Dom

4065889 169724

2231932

3784242 210710

2042784

1741458

4161346 367190

2213409

1947937

4555821 477634

2501778

2054043

5633926 678206

3233256

2400670

8.60%

9.70%

7.00%

BANGALORE

Dom

Total Int'l

2443479 236004

2273755

2065540

2276250

2764283 459174

2397093

3181248 610406

2703614

3435177 4113383

41.40% 13.80% 10.90%

HYDERABAD

Total

Dom

1610012

1374008

332365

1677182

1344817

1910189

1451015

2211766

1601360

749072

2845029

2095957

33.50% 15.30% 11.10%

20 Report of the Task Force

PASSENGER TRAFFIC FORECAST CAGR 8.0% 2005-06 5333367 9021377 14354744 6574630 2006-07 5760037 CAGR 6.0% 8.6% 6.0% 9.0% 8.0% 6.0% 7.7% 2007-08 6105639 2008-09 6471977 2009-10 6860296

15.0% 12.3% 8.0%

10374584 16134621 7100600

10.0%

11412042

17517681 7526636

12553247 19025224 7978234

13808571 20668867 8456928

15.0% 12.3% 7.0% 9.5%

11014881 17589511 681970

12667113

19767713 729708

13807153 21333789 773490

15049797 23028031 819900

16404278 24861206 869094

10.0%

3824900

3142930

3457223

4186931 2904811

8.0%

3733801

4507291

4032505

4852405

4355105

5224199

10.0% 12.0% 11.2%

2640737

3621247 6261984 779937

4055796 6960607 896927

9.0% 8.6%

8.0%

4420818 7558014 1004559

3137196

4818692 8206863 1125106

3388171

5252374 8911599 1260118 7844116

3659225

15.0% 20.0% 19.2% 18.0% 22.0% 21.0%

4122212 4902149 883905

4946655 5843582

12.0%

10.0%

10.3%

5441320

6445879

5985452 7110558

6583998

3440973

2557068

1043008 4162630 3119622

12.0% 12.0% 12.0%

1168169

3493977

4662146

3913254

1308349 5221603

5848196

4382845

1465351

Financing Plan for Airports 21

Annexure II
Passenger Traffic Trends and Forecasts for non-metro airports
PASSENGER TRAFFIC TREND S. No. Airport 1 2 3 4 5 6 7 8 9 10 11 12 13 AHMEDABAD AMRITSAR GOA GUWAHATI TRIVANDRUM JAIPUR UDAIPUR LUCKNOW MADURAI MANGALORE AGATTI AURANGABAD KHAJURAHO 2000-01 185849 660756 846605 2001-02 172050 596085 768135 117130 12238 129368 200541 590085 790626 0 433564 433564 735421 223155 958576 2002-03 181954 636064 818018 2003-04 2004-05 CAGR

Int'l Dom Total Int'l Dom Total

Int'l Dom Total

Int'l Dom Total

100445 12128 112573 249894 626829 876723 0 450567 450567

163784 14253 178037 210594 629324 839918 8560 500159 508719

252451 724236 976687 219043 6249 225292

278065 709616 987681 4370 536863 541233

316613 31298 347911

373199 916548 1289747

19.04% 8.52% 11.10%

359866 905544 1265410 1256 597676 598932

33.24% 26.75% 32.59% 9.55% 9.63% 9.61% 7.32% 7.38%

Int'l Dom Total Int'l Dom Total

759805 250721 1010526 0 273315 273315 0 159411 159411

Int'l Dom Total Int'l Dom Total

Int'l Dom Total

3086 225786 228872 55 137961 138016

35850 254084 289934

774381 239906 1014287

825091 248491 1073582 36077 263747 299824

Int'l Dom Total

90805 90805

15172 286758 301930

19339 276954 296293 86377 86377

17110 301546 318656 99872 99872

0 153678 153678

0 179358 179358 58842 325551 384393

48252 331999 380251 0 217018 217018

872516 287635 1160151

3.52% 3.49% 3.51% 4.98% 8.61% 8.02% 8.02%

Int'l Dom Total Int'l Dom Total

214076 214076 11368 11368

205781 205781 9686 9686

199723 199723 10743 10743

123161 123161

225990 225990 10534 10534

158424 158424 268424 268424 10410 10410

81957 371388 453345

52.45% 6.68% 10.70% 14.93% 14.93% 5.82% 5.82% -2.18% -2.18% 6.16% 6.16% 0.89% 0.84%

Int'l Dom Total

0 104872 104872 129 57272 57401

767 37854 38621

0 91957 91957

136 26755 26891

16 104896 104912

0 110383 110383 0 40096 40096

0 59343 59343

0 133199 133199

* Base year for International traffic taken as 2005-06 for Guwahati Airport 22 Report of the Task Force

PASSENGER TRAFFIC FORECAST CAGR 2005-06 2006-07 CAGR 2007-08 2008-09 2009-10

15.0% 20.0% 18.6% 20.0% 20.0% 20.0% 20.0% 15.0% 16.4% * 10.0% 10.0% 5.0% 7.0% 5.5%

429179 1099858 1529036 379936 37558 417493

493556 1319829 1813385 455923 45069 500992

10.0% 15.0% 13.7% 15.0% 10.0% 14.6% 12.0% 10.0% 10.6% 10.0% 8.0% 8.0%

542911 1517803 2060715 524311 49576 573887

597202 1745474 2342676 602958 54534 657491

656923 2007295 2664218 693401 59987 753388

431839 1041376 1473215 11500 657444 668944

518207 1197582 1715789 12650 723188 735838

580392 1317340 1897732 13915 781043 794958

650039 1449074 2099113 15307 843526 858833

728044 1593982 2322025 16837 911009 927846

15.0% 15.0% 15.0% 8.0% 8.0% 9.0% 8.0% 8.2%

916142 307769 1223911 55490 381799 437289 234379 234379 89333 401099 490432

961949 329313 1291262 63813 439069 502882 253130 253130

5.0% 7.0% 5.5%

10.0% 10.0% 10.0% 8.0% 8.0%

70195 482976 553170

1010046 352365 1362412

1060549 377031 1437579 77214 531273 608487 295251 295251

1113576 403423 1516999 84935 584400 669336

20.0% 20.0% 5.0% 5.0%

190109 190109 281845 281845

228131 228131 295937 295937 11044 11044

97373 433187 530560

9.0% 8.0% 8.2%

15.0% 15.0% 5.0% 5.0%

106137 467842 573979

273380 273380

262350 262350 310734 310734

115689 505269 620958 301703 301703 326271 326271 11717 11717

346958 346958 342585 342585

126101 545691 671792

318871 318871

3.0% 3.0%

15.0% 15.0% 50.0% 50.0%

10722 10722

89015 89015

153179 153179

176156 176156 133522 133522

3.0% 3.0%

10.0% 10.0% 25.0% 25.0%

11375 11375

166902 166902

193771 193771

213148 213148

12068 12068

208628 208628

234463 234463 260785 260785

Financing Plan for Airports 23

Passenger Traffic Trends and Forecasts for non-metro airports

S. No. Airport 14 15 16 17 18 19 20 21 22 23 24 25 26 27 RAJKOT VADODARA BHOPAL INDORE NAGPUR VIZAG TRICHY 2000-01 111594 111594 2001-02 105418 105418 238804 238804 71294 71294

PASSENGER TRAFFIC TREND 2002-03 121553 121553 361302 361302 87784 87784

Int'l Dom Total Int'l Dom Total

Int'l Dom Total Int'l Dom Total

Int'l Dom Total

Int'l BHUBANESHWAR Dom Total COIMBATORE PATNA PORT BLAIR VARANASI AGARTALA DEHRADUN Int'l Dom Total

Int'l Dom Total

Int'l Dom Total

0 198693 198693 0 134436 134436 61961 16397 78358

179759 179759

75063 75063

211689 211689

126615 126615

2003-04

2004-05 158172 158172 361894 361894

CAGR 9.11% 9.11% 14.35% 14.35% 14.16% 14.16% 10.67% 10.67% 8.50% 8.74% 10.44% 10.45%

312447 312447 113675 113675

0 187225 187225

170963 170963

149048 149048

54771 14349 69120

0 146716 146716

0 229205 229205

195072 195072

226915 226915

Int'l Dom Total Int'l Dom Total

9029 167887 176916 0 121492 121492

26 263459 263485

149326 149326

70090 23967 94057

0 155771 155771

3800 234803 238603 2545 153945 156490 399 133646 134045

136044 136044 10901 248063 258964 1804 160996 162800 242 160202 160444

109794 12603 122397

0 155113 155113

0 230806 230806

2421 275409 277830

269625 269625

127510 127510

174956 174956 13788 265536 279324

143740 24251 167991 205230 205230 13143 378032 391175

60 199976 200036

23.41% 10.28% 21.00% 8.32% 8.32%

0 159683 159683

Int'l Dom Total Int'l Dom Total Int'l Dom Total

206922 206922 2471 2471

30468 189744 220212

30118 136039 166157

2590 2590

203102 203102

12877 138507 151384

359 193974 194333 31550 168602 200152

0 176234 176234 0 193785 193785

374.17% 9.45% 10.38% 1.22% -0.10% 12.38% 12.38% 2.07% 3.76% 3.53% 2.72% 2.72% 16.73% 16.73%

1592 1592

206991 206991

209600 209600 561 561

33065 219946 253011

4588 4588

230328 230328

24 Report of the Task Force

20.0% 20.0% 15.0% 15.0% 12.0% 12.0% 15.0% 15.0% 10.0% 10.0% 30.0% 30.0%

CAGR

189806 189806 416178 416178 142811 142811

2005-06

227768 227768 478605 478605 159949 159949

2006-07

PASSENGER TRAFFIC FORECAST 10.0% 10.0% 10.0% 10.0% 12.0% 12.0% CAGR

(Contd.)
2008-09 2009-10

250544 250544 526465 526465 179142 179142

2007-08

275599 275599 579112 579112

303159 303159 637023 637023 224716 224716

310069 310069 302950 302950 259969 259969

356579 356579 333245 333245 337959 337959

10.0% 10.0% 8.0% 8.0%

392237 392237

200639 200639

25.0% 50.0% 28.9% 10.0% 10.0%

179675 36377 216052 225753 225753

224594 54565 279159 248328 248328 15903 544366 560269 194298 194298 213648 213648

15.0% 20.0% 16.0% 10.0% 10.0%

12.0% 12.0%

359904 359904 378515 378515

431461 431461 388697 388697 423936 423936

419793 419793

474607 474607

258283 65478 323761

10.0% 20.0% 19.7% 5.0% 5.0% 5.0% 5.0%

185046 185046 203474 203474

14457 453638 468096

8.0% 15.0% 14.8% 6.0% 6.0%

273161 273161 17175 626021 643196 205956 205956 235013 235013

297025 78573 375598 300477 300477 18549 719924 738473 218313 218313 258514 258514

341579 94288 435867 330525 330525

474809 474809

15.0% 15.0% 30.0% 30.0%

8.0% 10.0% 9.7%

264877 264877 5964 5964

35710 241941 277651

304609 304609 7754 7754

38567 266135 304702

5.0% 8.0% 7.6%

10.0% 10.0%

231412 231412 284365 284365

20033 827913 847946

10.0% 10.0% 20.0% 20.0%

40495 287425 327921

9304 9304

335070 335070

368577 368577 11165 11165

42520 310419 352940

405434 405434 13398 13398

44646 335253 379899

Financing Plan for Airports 25

Passenger Traffic Trends and Forecasts for non-metro airports

S. No. Airport 28 29 30 31 32 33 34 35 IMPHAL RANCHI RAIPUR AGRA CHANDIGARH DIMAPUR JAMMU PUNE 2000-01 120851 120851 0 55610 55610 2001-02 127106 127106 0 61303 61303

PASSENGER TRAFFIC TREND 2002-03 127525 127525 0 68838 68838

Int'l Dom Total

Int'l Dom Total Int'l Dom Total Int'l Dom Total

Int'l Dom Total

123960 123960 0 66955 66955 75948 75948

2003-04

2004-05 129103 129103 0 79698 79698

CAGR 1.67% 1.67% 9.41% 9.41% 19.65% 19.65%

46476 46476 969 35672 36641 0 45654 45654

50194 50194 598 26277 26875 0 49863 49863

55058 55058 666 14817 15483 0 50064 50064

716 16868 17584 0 76053 76053 27798 27798

95257 95257 1795 16470 18265

Int'l Dom Total Int'l Dom Total

Int'l Dom Total

20944 20944

415258 415258

230023 230023

190232 190232 372520 372520

19353 19353

174572 174572 410136 410136

20696 20696

0 105846 105846 29280 29280

16.66% -17.57% -15.97% 23.40% 23.40% 8.74% 8.74% 3.34% 3.34% 9.68% 9.68%

466295 466295

216769 216769

262316 262316 600949 600949

26 Report of the Task Force

8.0% 8.0%

CAGR

20.0% 20.0% 15.0% 15.0% 4.0% 3.0% 3.1%

95638 95638

139431 139431

2005-06

150586 150586 114765 114765

2006-07

PASSENGER TRAFFIC FORECAST 10.0% 10.0% CAGR

(Contd.)
2008-09 2009-10

109546 109546 1867 16964 18831

125977 125977 1941 17473 19414

10.0% 10.0% 10.0% 10.0% 4.0% 3.0% 3.1%

126242 126242 138575 138575 2019 17997 20016

165644 165644

2007-08

182209 182209

138866 138866 152433 152433 2100 18537 20637

152752 152752 167676 167676 2184 19093 21277

200430 200430

7.0% 7.0%

30.0% 30.0%

20.0% 20.0%

15.0% 15.0%

31330 31330

137600 137600

178880 178880 33523 33523

301663 301663 721139 721139

865367 865367

346913 346913

5.0% 5.0%

30.0% 30.0%

10.0% 10.0% 12.0% 12.0%

35199 35199

232544 232544

302307 302307 36959 36959

381604 381604 969211 969211

1085516 1085516

419765 419765

38807 38807

392999 392999

1215778 1215778

461741 461741

Financing Plan for Airports 27

Annexure III
Upgradation/ improvement of CNS-ATM infrastructure: Projects in progress
S. No. 1 2 3 4 5 6 7 8 9 10 11 Project Dedicated Satellite Communication Network Voice Communication Control System Integration of radar data processing system and Flight Data Processing System Automatic Dependence Surveillancecontract/ CPDLC system Details To connect 80 airports for providing dedicated channels for voice and data to support air-ground as well as ground- ground communication. Being provided at 8 airports. Installation complete at 5 airports. Being done at 6 airports Date of Completion Apr 2006

Mar 2006 Jun 2006 Under test operation Mar 2006 Jun 2006

Installed at Mumbai and Delhi Under installation at IGI Airport For augmentation of flight inspection capability. Augmentation of ATC training facility at Civil Aviation Training College

Advanced Surface Movement & Control System

Addition of one aircraft capable of flying at high altitudes Visual Tower Simulator

Procurement of 40 DMEs Procurement of ILS CCTV Surveillance System Flight Information Display System Provision of Global Navigation Satellite System

Dec 2007

Perimeter security systems at selected airports (6 airports as of now) At selected airports (7 airports as of now)

Mar 2008 Mar 2006 Aug 2007 Dec 2008 Dec 2008

12 13

Implementation of GAGAN Project in coordination with ISRO

28 Report of the Task Force

Upgradation/ improvement of CNS-ATM infrastructure: Projects to be taken up in the period 2006-2012

S. No. Project 1 2 3 4 5 6 7 8 9 Start Date Compl. Date

Flight Data Processing System at Hyderabad and Mangalore Provision of CNS equipments at new Greenfield airports at Bangalore and Hyderabad

Apr 2006 Apr 2006 Apr 2006 Apr 2006 Apr 2006

Mar 2007 Mar 2008 Mar 2008 Mar 2008 Dec 2008 Dec 2007 Dec 2008 Dec 2008

Airport Surveillance Radar and MSSR at Amritsar and Cochin Provision of MSSRs at few locations to cover radar gaps Networking of radars

Augmentation of RCAG VHF coverage for continental air space

Provision of Aeronautical Handling System and ATN Router at Mumbai Surface Movement Guidance and Control System at Mumbai, Kolkata and Chennai Ground based augmentation System at two airports Provision of Digital Automatic Terminal information equipments at selected airports Upgradation of Automation system at Mumbai and Delhi

May 2006 Apr 2006 Apr 2006 Apr 2006 Apr 2006

Mar 2006

Mar 2007

10 11

Dec 2007 Dec 2007

12 13 14 15 16 17 18 19

Pre-departure clearance facility via data link at Mumbai and Delhi Replacement of equipment as decided, purchase of various ATC and electronic ancillaries

Introduction of ADS-B technology for surveillance purpose as a supplement of MSSRs Augmentation of aeronautical telecom network.

Introduction of Data Communication in air ground communication purposes Upgradation of automation system at Kolkata and Chennai Ground based augmentation system at selected airports Introduction of other systems or technologies as approved by ICAO

To be decided To be decided

Intend to buy one system in 2006-07 for gaining experience

To be decided

To be decided As and when decided by ICAO

Financing Plan for Airports 29

Annexure IV
Proposed phased Capex in each of the 35 non-metro airports (excluding CNS-ATM and other equipments)
S.N. 1 2 3 4 5 6 7 8 9 10 Airport 2003-04 1.00 0.2 0.5 0.3 0.2 1.00 0.4 0.1 0.2 1.07 4.97 0.01 0.11 0.04 0.12 0.30 0.11 0.22 0.23 Passengers (million) 2004-05 Start Date 2006-07 2006-07 2006-07 2006-07 2006-07 2007-08 2006-07 2006-07 2006-07 2006-07 Compl. Date 2009-10 2007-08 2010-11 2010-11 2010-11 2010-11 2010-11 2010-11 2010-11 2010-11

PHASE I Ahmedabad* Amritsar* Guwahati* Jaipur Udaipaur Goa* Lucknow Madurai Mangalore Trivandrum* Phase I Total PHASE II Agati Aurangabad Khajuraho

1.28 0.3 0.6 0.4 0.2 1.26 0.5 0.2 0.3 1.16 6.20 0.01 0.13 0.06 0.20 0.40 0.12 0.27 0.28 0.20 0.17 0.20 0.4 0.18 0.19 0.25 3.06 0.25 0.004 0.13 0.08 0.09 0.02 0.1 0.03 0.26 0.6 1.56

11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

Rajkot Baroda Bhopal Indore Nagpur* Visakhapattanam Trichy Bhubneshwar Coimbatore Patna Portblair Varanasi Phase II Total

2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2008-09 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07

2010-11 2010-11 2010-11 2010-11 2010-11 2010-11 2010-11 2010-11

0.16 0.12 0.18 0.28 0.16 0.19 0.20 2.43 0.20 0.001 0.12 0.07 0.07 0.02 0.08 0.02 0.21 0.46 1.25

2008-09 2008-09 2009-10 2010-11 2009-10 2010-11 2010-11

26 27 28 29 30 31 32 33 34 35

PHASE III Agartala Dehradun Imphal Ranchi Raipur Agra Chandigarh Dimapur Jammu Pune Phase III Total GRAND TOTAL

2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07

2009-10 2008-09 2009-10 2009-10 2009-10 2009-10 2010-11 2009-10 2009-10 2009-10

* International Airport

30 Report of the Task Force

2006-07 120 38 4 50 50 2 10 12 8 40 334 3.5 10 15

Capex on TB, Car Park, Cargo (Rs. in crore) 2007-08 105 47 13 46 30 8 40 30 45 60 424 2.5 30 40 2008-09 45 5 44 17 11 16 45 25 35 80 323 2 50 35

2009-10 35 5 46 12 11 45 10 15 15 50 244 1 10 15

2010-11 20 5 23 11 11 40 17 13 12 20 172 11 18 15 12 12 10 11 12

Total 325 100 130 136 113 111 122 95 115 250 1497 20 118 120

5 3 15 4 10 50 30 10 12 7 5 10 190 6 10 4 15 5 2 5 6 5 10 68 592

30 5 15 8 30 45 50 40 15 10 10 50 381 5 30 3 20 5 3 20 4 10 15 115 920

5 20 15 13 5 13 20 268 5 8 3 40 8 3 40 4 10 15 136 727

40 5 20 10 15

15 5 15 13 15 11 10 213 4 11 3 23 13 1 20 3 13 15 106 563

13 15 50 12 13

15 5 12 12 13 11 20 189 10 11 2 22 14 1 15 3 12 15 105 466

100 40 110 45 80

130 110 92 65 50 50 110 1240 30 70 15 120 45 10 100 20 50 70 530 3267

Financing Plan for Airports 31

Proposed phased Capex in each of the 35 non-metro airports (excluding CNS-ATM and other equipments)
S.N. 1 2 3 4 5 6 7 8 9 10 Airport PHASE I Ahmedabad* Amritsar* Guwahati* Jaipur Udaipaur Goa* Lucknow Madurai Mangalore Trivandrum* Phase I Total Agati Aurangabad Khajuraho Baroda Bhopal Rajkot PHASE II Start Date 2006-07 2006-07 2006-07 2006-07 2006-07 2007-08 2006-07 2006-07 2006-07 2006-07 Compl. Date 2009-10 2009-10 2010-11 2009-10 2008-09 2010-11 2009-10 2010-11 2008-09 2008-09 Capex on Air Side (Rs. in crore) 2006-07 5 8 10 12 27 1 5 25 45 20 158 2 7 10 5 7 2 2007-08 10 7 15 6 15 2 8 9 5 5 82 1 15 5 2008-09 5 12 15 13 3 3 6 2 2 2 63 15 10 3 10 5 2009-10 5 13 15 12 2 6 11 1 1 2 68 25 5 11 13 2 3

11 12 13 14 17 18 19 20 21 22 23 24 25 15 16

2008-09 2006-07 2006-07 2006-07 2006-07 2006-07

2010-11 2010-11 2010-11

Indore Nagpur* Visakhapattanam Trichy Bhubneshwar Coimbatore Patna Portblair

2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07

2009-10 2010-11 2010-11 2010-11 2010-11 2008-09 2010-11 2010-11 2010-11 2010-11 2010-11

2009-10

2 3 80 12 5

Varanasi Phase II Total

21 6 5

5 5 29 3 8 1 3 3

10 5

30

40

10 5 4 3 12 2 2 11

10 1 4 1 12 15 2 11

12 179

3 126

3 135

1 116

26 27 28 29 30 31 32 33 34 35

PHASE III Agartala Dehradun Imphal Ranchi Raipur Agra Chandigarh Dimapur Jammu Pune Phase III Total GRAND TOTAL

2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07 2006-07

2010-11 2010-11 2009-10 2010-11 2010-11 2008-09 2010-11 2010-11 2010-11 2010-11

6 10 3 5 15 2 2 4 3

5 30 2

5 55 392

3 3 5

10 5 2

12 8 2

5 70 278

7 2 10

13 15 3

11 1 2

12 12 2 11 2 5

13 85

12 70

* International Airport

283

254

32 Report of the Task Force

2010-11 5 5 15 2 2 6 1 11 1 1 49 25 5 11 2 2 11

Total 30 45 70 45 49 18 31 48 54 30 420 68 42 40

2006-07 76 22 1 69 3 0 16 23 3 4 217 0 1 3

2007-08 68 31 5 64 3 1 57 60 13 16 318 0 4 8 0 8 5

Capex onCityside (Rs. in crore) 2008-09

(Contd.)
2010-11 13 4 9 17 0 5 27 25 4 10 115 0 1 1 0 21 10 8 10 1 1 4 0 0 0 Total 209 65 52 209 7 13 196 196 39 65 1050 0 13 20 0 65 26 26 65 13 13 33 7 7 0

2009-10

29 4 18 29 1 1 74 51 12 21 240 0 5 7 0 8 4

23 4 18 30 0 5 21 37 8 14 160 0 1 1 0 23 1

77 40 30 42 25 121 20 38 53 15 41

0 5 5 3 5 4 3 4 1 1 0

15 11 4 1 1 14 2 11 11 126

5 25 3 4 12 3 3 0

5 14 1 3 8 1 1 0

5 10 4 3 5 1 1 0

30 682 35 50 10 40.5 50 10 25 12 25 36 293.5 1395.5

3 38 5 0 4 4 1 0 0 4 0 0 18 273

10 89 5 0 3 4 1 0 0 3 0 0 16 423

5 63 4 0 3 20 3 0

4 61 9 0 1

4 63 9 0 3

26 313 33 0 13

1 1 1 0.5 3 1 2 1 2 1 13.5 188.5

0 3 0

0 31 334

0 3 0

21 3 0

0 37 258

0 1 0

17 5 0

65 13 0

0 35 213

0 13 0

0 137

1500

Financing Plan for Airports 33

Annexure V
Status of ongoing projects at the non-Metro airports
Estimated Cost ( Rs in cr ) 46.09 56.94 195

S No. 1. 2. 3.

AHMEDABAD AIRPORT

Name of the Work

Status Completed Awarded Architectural design finalised. PIB note sent to MCA. Pre-PIB meeting held on 06.12.05. Action for Environmental clearance undertaken. Press notice for pre-qualification of contractors issued.

Construction of New Domestic Departure Terminal Building (13269 Sq Mtr, 600 - peak hour departure, additional Car Park 115 cars, provision for 02 Aerobridges) Construction of New Domestic Arrival Terminal Building (15825 Sq Mtr, 800 - peak hour arrival, provision for 02 Aerobridges)

Construction of New Intl Terminal Building (27331 Sq Mtr, 500 - Arrival and 500 Dep, Aerobridges -4) with associated infrastructure ( Car park - Cars - 575, Taxi - 60, Coaches -06, Road, Inter connectivity between Terminals ) Construction of 06 additional Parking Stands for Aircrafts, 06 - B 747 and 01 - A 320 in Phase II Total

4.

15 313 79.27

Drawings finalised and issued.

AMRITSAR AIRPORT 1.

2. 3. 4. 5.

Construction of New Intl. Terminal Building (14500 Sq Mtr, 250 Dep & 250 Arrival, One Aerobridge (with provision for 1more) with associated infrastructure (Car Park - Car/ Taxi - 450, Roads) Construction of 2 Additional Parking Stands for Aircrafts, A-300.

Works nearing completion.

Not indicated 80 15 0.5 174.77 94.87

Work completed. Expansion of Terminal Building shall be taken up after completion of ongoing works of New Intl Terminal Building. Works will be taken up with Sl. No.3

Modular expansion of of Intl Terminal Bldg (17000 Sq. m, 200 Dep & 200 Arrival, Aerobridges -02) with associated infrastructure Construction of 02 Additional Parking Stands for Aircrafts, B-747. Relocation of Police Station Total

Work will be undertaken in coordination with State Govt

JAIPUR AIRPORT 1.

Construction of New Intl Terminal Building (18000 Sq Mtr, 250 Dep & 250 Arrival, provision for 02 Aerobridges) with associated infrastructure (Car Park Cars/ Taxi - 300 and Coaches - 25, Road)

2.

Construction of 09 additional Parking Stands for Aircrafts, 03 - B 747, 04 - A 300, 02 - A 320.

20

Architecture Design finalised. Drawings approved. BOQ for Phase-I works under preparation by consultant. Prequalification under finalisation and NIT to be issued shortly. Drawings being finalised

34 Report of the Task Force

Status of ongoing projects at the non-Metro airports

S No. 3. 4. 5. Name of the Work Estimated Cost ( Rs in cr ) 3.3 Status

New Cargo Terminal

Aircraft Maintenance hangers E & M Workshop Total

UDAIPUR AIRPORT 1.

119.17 69.45

Work will be undertaken subject to operational clearances Details being finalised

Details are being worked out

2. 3.

New Terminal Building (12300 Sq Mtr, 250 Dep & 250 Arrival, provision for 2 Aerobridges) with associated infrastructure (Car Park - Cars/ Taxi - 400 and Coaches -25, Road) Construction of ATC - cum - Technical Block Total

Architecture Design finalised. Works for new terminal building awarded. Drawings are being finalised Drawings are being finalised

Construction of 02 additional Parking Stands for Aircrafts, A 320.

5 80.45 29.4 3.18 6.5 6

GUWAHATI AIRPORT 1. 2. 3. 4.

Construction of 02 Additional Parking Stands for Aircrafts, A-320/ B-737, Hangers, Taxi Track and GSE Parking Construction of Cargo Terminal Construction of AAI Administrative Block Total

Work will be taken up after acquisition of land from IAF Authorities. Drawings are being finalised. Scope is being decided Scheme under review.

Extension of Runway from 9000 to 12000 ft

TRIVANDRUM AIRPORT 1. 2. 3. 4.

39.08 165.58 14 2.3 12.35 194.23

New Intl Terminal Building (23480 Sq Mtr, 500 Dep & 500 Arrival, Aerobridges - 02) with associated infrastructure (Car park - Cars - 575, Taxi - 60, Coaches - 06, Road) Construction of 03 Additional Parking Stands for Aircrafts, A 320 on existing terminal side. Bridge over Chakai Canal

Architectural design finalised. DPR sent to MCA. Pre-PIB held on 6.12.2005. Drawings are being finalized. State Govt requested to take up the work along with development of canal.

Provision of 02 aerobridges to existing international terminal building Total

Drawings prepared and issued. Detailed estimate under scrutiny for technical sanction.

Financing Plan for Airports 35

Status of ongoing projects at the non-Metro airports

S No. 1. 2. 3. 4. Name of the Work Estimated Cost ( Rs in cr ) 21 3.62 Status Completed except installaton of CAT-II lighting (shifting of village awaited; Rs. 11.6 cr deposited with State Govt.) 60% work completed. Work awarded.

LUCKNOW AIRPORT

Extension and Strengthening of existing Runway Construction of Technical Block - cum - Control Tower. Grading, Drainage and Rain Water Harvesting of Operational Area.

2.01 50

5. 6.

New Integrated Terminal Building (15000 Sq Mtr, 250 Dep & 250 Arrival, Aerobridges - 02, and provision for - 01 more Aerobridge) with associated infrastructure (Car/ Taxi - 300, Roads)

Design entries received on 20.01.06. Adjudication by Assessors Committee proposed for 3rd week of Feb 06. Work will be taken up with works at Sl.No. 4. Structural feasibility is being examined.

Construction of 04 Additional Parking Stands for Aircrafts, A-300 - 02, A-320/ B-737 - 02, Hangers, Taxi Track, and GSE Parking. Modification to existing Terminal Building for Intl Operation Construction of General Aviation Building Total Providing aerobridges to existing Terminal Building

15 10

7. 8.

28

GOA AIRPORT 1. 2.

131.1 96 18 114 35.25 55

1.5

Details being examined.

Modification will depend on the feasibility of Aerobridge

Construction of New Int'l Terminal Building with associated Infrastructure. Construction of 02 Additional Parking Stands for Aircrafts, B-747, Hangers and GSE Parking. Total

Works will be taken up on acquisition of land and NOC from Naval Authorities.

Works will be taken up on acquisition of land.

MADURAI AIRPORT 1. 2.

3. 4.

Construction of New Integrated Terminal Building (15000 Sq Mtr, 250 Dep & 250 Arrival, Aerobridges - 02, and provision for - 01 more Aerobridge) with associated infrastructure (Car/ Taxi - 300, Roads) Construction of 03 Additional Parking Stands for Aircrafts, A-300 - 01, A-320/ B-737 - 02 and Hangers.

Extension and strengthening of Runway (2286 Mtrs) including Apron Extension, 04 Parking Stands for Aircrafts, AB-320/ B-737 - 800.

19% work completed. Design entries received on 20.01.06. Adjudication by Assessors Committee proposed for 3rd week of Feb 06. Works will be taken with works at Sl. No.2

15 5

Total

Construction of new control tower

110.3

Details are being finalised.

36 Report of the Task Force

Status of ongoing projects at the non-Metro airports

S No. 1. 2. Name of the Work Estimated Cost ( Rs in cr ) 55.26 81 Status 60% work completed. Design entries received on 20.01.06. Adjudication by Assessors Committee proposed for 3rd week of Feb 06. Work will be taken up with works at Sl. No. 2. Drawings are being finalised. Details are being finalised.

MANGALORE AIRPORT

Construction of New Runway, 2450 mtrs. (06-24) and Allied Works.

3. 4. 5.

Construction of New Integrated Terminal Building (15000 Sq Mtr, 250 Dep & 250 Arrival, Aerobridges - 02, and provision for - 01 more Aerobridge) with associated infrastructure (Car/ Taxi - 300, Roads)

Construction of 05 Additional Parking Stands for Aircrafts, A-300 - 01, A-320/ B-737 - 04 and Hangers. Construction of New Fire Station, Medical Unit and MT Workshop. Total Construction of Control Tower and Technical Block.

23 0.75 1.2

AGATTI 1. 2. 1.

161.2 Drawings in progress.

Terminal Building, Fire station & Control Tower Additional Pavement adjacent to Runway end

AURANGABAD

Scope of work finalised. Proposal is being placed before AAI Board for approval. Estimates in progress. Approval of AAI Board will be obtained thereafter. Proposal is under planning.

New Terminal Building at an esimated cost of Rs 99 crores

KHAJURAHO 1.

New Terminal Building.

RAJKOT 1. 2. 1.

New Terminal Building

VADODARA

New Fire Station, M I Centre, E & M Workshop

Proposal under consideration

BHOPAL 2. 1.

Internal modifications to existing Terminal Building have been undertaken. Extension of Apron and resurfacing of secondary runway. Works nearing completion Works being planned

INDORE 1.

Modification and extension to Terminal Building

Minor works for modification to the existing Terminal Building are being undertaken. Financing Plan for Airports 37

Status of ongoing projects at the non-Metro airports

S No. 1. 1. 2. Name of the Work Estimated Cost ( Rs in cr ) Status NIT under processing. In progress. Completion by end 2006.

NAGPUR

VIZAG

Modification/expansion to existing terminal building Construction work for runway

New Integrated Passenger Terminal Building.

55

TRICHY 1. 2. 1. 2.

Work awarded. Environmental clearance awaited. In progress.

Extension and Strengthening of runway works New Integrated Passenger Terminal Building Car park

BHUBANESWAR

75

NIT under processing. Drawings under preparation after receipt of the location of new State Govt. road along with survey of residential colony Planned Drawing under revision for `E' type Aircraft operation Design entries recvd. in Jan 06 Adjudication by Assessors Committee by Feb 06 Work in progress Planned.

3. 4. 5.

Apron extension

Interior decoration of existing terminal building

New Technical Block - cum - Control Tower

New Integrated Passenger Terminal Building

COMIBATORE 1. 2. 3. 1. 2. 3. 1. 1.

Apron extension

New International Terminal Complex Modification of Existing Passenger Terminal building is Cargo building Administrative Block

New site under review for acquisition of land. Proposal under review.

PATNA

Drawings issued pending proposal to be accepted by State Govt. Pending detailed site survey. Drawings issued for estimate/structure.

PORTBLAIR VARANASI

Modification and extension of community Hall Extension of Apron. New Terminal Bulding

Proposal being placed before AAI Board for approval.

38 Report of the Task Force

Status of ongoing projects at the non-Metro airports

S No. 1. 1. 1. 2. 3. 4. Name of the Work New Technical Building and Control Tower. New Terminal Building Modification and expansion of terminal building New Fire Station Works for Isolation Bay, Technical Block & Control Tower. City side development Estimated Cost ( Rs in cr ) Status Planning under progress Drawings being finalized. Design under finalisation. Being finalised. Awarded

AGARTALA

DEHRADUN RANCHI

RAIPUR 1.

Proposal on land requirement pending with State Govt

IMPHAL 1.

Works for extension of runway in progress. Location for New ATC tower cum technical block being finalised Additional apron layout being planned. Minor works relating to Terminal Building / Air side completed. Major Works will be finalised after receipt of GTA / IFC reports. Minor works relating to Terminal Building / Air side completed. Major Works will be finalised afterreceipt of GTA / IFC reports. Works for modification and expansion to existing Terminal Building are being finalised.

AGRA 1.

CHANDIGARH 1.

DIMAPUR 1.

JAMMU 1.

Action for NIT is in progress for construction of New Fire Station. Details are being worked out for modification to existing Terminal Building. Works for expansion and modificaiton of existing Terminal Building.

PUNE 1. 2.

10

In progress NIT being finalised Financing Plan for Airports 39

Expansion of Apron and New Taxi link

Annexure VI

Assumptions for the Financing Plan

1. Effect of restructuring
1.1 Expenditure and revenue projections for 2006-07 onwards are based on the assumption that the Delhi & Mumbai airports would be transferred to JVCs from 1st May, 2006. Expenditure and revenue projections for 200809 onwards are based on the assumption that Chennai & Kolkata airports would be taken up w.e.f. 1st April, 2008. Depending upon the modality chosen, the assumptions relating to Kolkata and Chennai may need to be modified. 1.2 The upfront payments from JVCs have been considered as Rs. 150 crore each for Delhi & Mumbai airports, Rs. 100 crore for Chennai and Rs. 75 crore for Kolkata. 1.3 The income from revenue share of Delhi & Mumbai JVCs has been considered as per the share of revenue quoted by the winning bidders. This is 45.99% of the gross revenue for Delhi airport and 38.7% for Mumbai airport. While calculating the share of revenue, landing charges, cargo income and income from non traffic revenue (excluding interest on investments) have been considered. The revenue surplus from Chennai & Kolkata has been assumed as 10% of the gross revenue. 1.4 The income from dividend from JVCs of Delhi & Mumbai has been assumed as per projections made by Financial Consultant. No dividend income from Chennai & Kolkata has been considered. 1.5 The projections done by Financial Consultants for AAIs equity contribution
40 Report of the Task Force

of Rs 376 crore in the JVCs of Delhi & Mumbai during 2006-07 to 2023-24 has been adopted. Accordingly a capital contribution to JVC of Rs. 302 crore over the period 2006-07 to 2015-16 has been provided for in the financing plan. It has been assumed that in case of Chennai & Kolkata JVCs, AAI will contribute capital from 2008-09 onwards, to the extent of 50% of the equity contribution for Delhi & Mumbai airports. 1.6 Impact of closure of existing airports at Bangalore & Hyderabad airport have been considered in the year 2008-09.

2. Revenue projections
2.1 No revenue from new investments made in development of non-Metro airports has been considered. 2.2 Revenue projections are based on the assumption that there will be no increase in rates of airport charges, PSF and cargo charges. Further, no revenue from ADF and UDF has been considered. 2.3 Revenue streams from Route Navigation and Facilitation Charges (RNFC), Landing and Terminal Navigation and Facilitation Charges (TNLC) shall continue to accrue to AAI. For the projection of RNFC, Landing and TNLC, the growth in traffic has been assumed as 10% per annum over the base year 2006-07. No increase in airport charges has been assumed.

2.4 The growth in revenue from Passenger Service Fee (PSF) has been assumed as 10% per annum. The growth in Cargo revenue has been assumed as 5% per annum. The growth in Non Traffic revenue has been assumed as 7.5% per annum over the base figure of 2006-07. 2.5 Income from investments on short term deposit has been worked out @ 6% p.a. on the closing balance of funds for each year.

3.4 The rate of interest on borrowing has been taken as 9% p.a. Repayment of borrowings has been assumed in 7 equal annual installments with a moratorium of 2 years on repayment of principal. 3.5 Dividend payout to GOI has been considered at 20% of Equity or Profit after Tax (PAT) whichever is higher. For calculation of dividend, equity capital as on 31.03.2005 has been considered. 3.6 Capital expenditure as detailed in paragraph 2 of this report would be incurred.

3. Expenditure projections
3.1 An increase of 15% has been made towards pay revision in the year 2007-08, as pay & allowances are due for revision from 01.01.2007. Expenditure on pay and allowances has been assumed to grow @ 7% per annum. It has been assumed that 25% of staff deputed to private operator will rejoin AAI after 3 years deputation period. Effect of the same has been considered in years 2008-09 & 2011-12. The effect of introduction of VRS has not been considered. 3.2 Expenditure on Repairs & Maintenance, Stores, Electricity, Water charges and Security has been assumed to grow @ 7% p.a. and Other Expenses have been assumed to grow @ 5% p.a. over the base figures of year 2006-07. 3.3 Depreciation benefits of leased assets will be available to AAI even after Leasing. A project completion period of 2 years has been assumed for fresh capital expenditure. Depreciation has been worked out @ 7.31% p.a. on straight line basis.

Financing Plan for Airports 41

Annexure VII
Statement of Internal Resources for AAI: 2005-06 to 2015-16
S.No. I. Particulars REVENUE

Actuals 2004-05

RE 2005-2006

BE 2006-07

A TRAFFIC REVENUE 1. Route Navigational Facilities Charges 2. Landing, Housing & Parking Charges 3. Terminal Navigational Landing Charges 4. Passenger Service Fee TOTAL [A] B CARGO REVENUE C NON-TRAFFIC REVENUE 1. Trading Concessions 2. Rent & Services 3. Miscellaneous TOTAL [C]

827.49 535.75 116.01 599.47 2078.73 299.95

901.51 593.53 126.19 710.48 2331.71 347.13

1022.31 261.86 141.78 658.19 2084.14 116.10

D INTEREST ON INVESTMENTS E SHARE IN REVENUE OF JVC Delhi & Mumbai Kolkata & Chennai

206.96 184.36 154.64 545.96 84.58

234.43 189.87 153.69 577.99 95.72 0.00

88.96 91.23 97.26 277.45 91.89

0.00

500.60 10.00

G DIVIDEND FROM JVC's of Delhi & Mumbai II. EXPENDITURE 1. Pay & Allowances & Other Staff Benefits 2. Repairs & Maintenance 3. Consumption of Stores & Spares 4. Electricity & Water Charges 5. Other Expenses 6. Depreciation 7. Financing Charges 8. Security Expenses - State Police & Others CISF TOTAL [II] GRAND TOTAL [A+B+C+D+E+F+G]

F UPFRONT PAYMENT 1. Delhi & Mumbai 2. Kolkata & Chennai

3009.22

0.00

3352.55 839.03 288.32 70.77 152.40 524.43 436.32 2.25 14.22 213.37 2541.11 324.63 811.44

0.00

3080.18

0.00

III. V. IV.

Provision for Tax Dividend

PROFIT[+]before Tax / LOSS[-] PROFIT[+] / LOSS[-] after Tax Tax on Dividend

760.14 204.40 84.98 129.14 532.87 405.68 4.43 12.18 190.07 2323.89 359.45 685.33

677.13 202.36 74.57 93.07 361.58 449.39 0.95 11.84 247.88 2118.77 392.60 981.41

VI.

325.88 83.33 11.07

486.81 97.36 13.65

588.81 117.76 16.52

VII.

VIII.

INTERNAL RESOURCES [V-VI-VII+II(6)]

637.17

812.12

893.92

42 Report of the Task Force

2007-08

2008-09

2009-10

Projections 2010-11

(Rs. in crore)
2011-12 2012-13 2013-14 Total

1124.54 288.05 155.96 724.01 2292.55 121.91 95.63 98.07 104.55 298.26 3.34

1237.00 162.48 171.55 777.20 2348.23 1.00

1360.70 178.73 188.71 854.92 2583.05 1.05

1496.77 196.60 207.58 940.41 2841.36 1.10

1646.45 216.26 228.33 1034.45 3125.49 1.16

1811.09 237.89 251.17 1137.90 3438.05 1.22

1992.20 261.68 276.28 1251.69 3781.85 1.28

12592.57 2397.07 1747.54 8089.25 24826.44 591.94

75.78 57.59 67.38 200.75 1.36

81.46 61.91 72.43 215.81 5.50

87.57 66.55 77.87 231.99 10.30

94.14 71.55 83.71 249.39 70.91

147.25

101.20 76.91 89.98 268.10

232.02

108.79 82.68 96.73 288.20

967.97 796.37 843.61 2607.94 658.29

550.66 10.00 0.00

605.73 42.74 10.00 5.83 3231.54

666.30 47.01 10.00 5.83

732.93 51.71 10.00 5.83

806.22 56.88 10.00 5.83 4384.89 59.00

886.84 62.57 10.00 5.83

975.53 68.83 10.00 5.83

5724.81 329.74 80.00 35.00

3276.72 778.70 216.53 79.79 99.58 358.66 487.69 25.00 12.67 265.23 2323.85 952.87 428.79

15.90

3551.45 808.41 201.05 88.48 72.41 379.23 717.79 76.62 14.50 303.67 2662.16 400.18 889.29 489.11 97.82 12.78

16.90

3917.73 848.83 215.12 94.68 77.48 398.19 830.71 67.48 15.52 324.92 2872.93 1044.79 470.16 574.63 114.93 15.02

32.50

4959.65

139.80

5481.74

118.20

35236.45

382.30

717.55 187.90 82.70 67.67 361.17 593.73 64.05 13.56 283.80 2372.13 859.42 386.74 94.54 12.36

1335.58 734.57 18.39

920.23 230.18 101.31 82.90 418.10 932.25 0.05 16.61 347.67 3049.30 601.01

966.25 246.30 108.40 88.70 439.01 1024.84 0.05 17.77 372.00 3263.31 1696.34 763.35 932.99 181.69 1736.56 23.74

2041.96 1123.08 220.97 28.88

1014.56 263.54 115.99 94.91 460.96 1072.72 0.05 19.01 398.04 3439.78 918.88

10613.10 4686.34 5926.76 155.04

7570.69 2051.30 816.68 829.12 3701.34 6545.44 236.50 135.70 2756.59 24643.35

524.08 104.82 883.25 13.70

472.68

140.75

1170.64

943.68

1080.46

1259.56

1491.85

1930.12

11031.52

Financing Plan for Airports 43

Annexure VIII
Cash Flow Statement: 2005-06 to 2013-14
Opening Balance 2005-06 1401.73 812.12 2006-07 1323.84 893.92 300.00

Internal Resources

Upfront fee from JVCs Private investment in JVCs INFLOWS Private & State Govt. investment in greenfield airports Private Investment in cityside development MoD & AP Govt. contribution for Vishakhapatnam airport Borrowings Total Inflows 35 Non Metro airports CNS-ATM Equipment Other equipment Met. Equipment Other aerodrome works North Eastern airports Delhi & Mumbai airports Kolkata & Chennai airports Bangalore greenfield airport Hyderabad greenfield airport Other greenfield airports Total Capex Total Outflows Repayment of borrowings

Delhi & Mumbai Kolkata & Chennai BIAL HIAL Other

Delhi & Mumbai Kolkata & Chennai

2750.00 488.73 529.20 774.32 741.25 273.00 71.28 3231.78 7127.61

AAI AAI AAI AAI

AAI State Govt. Private (Cityside)

127.58 720.52

103.73

180.00 100.00 40.00 190.60

912.22 71.28 273.00

AAI

AAI Private Total AAI Private Total AAI Private Total AAI Private Total

25.90 2750.00 2775.90

OUTFLOWS

15.19 488.73 503.92

AAI Private Total

25.00 529.20 554.20

17.82 774.32 792.14

0.00 741.25 741.25

AAI Private Total

992.02 1017.93 2009.95 2054.64 76.31 44.69

1537.82 4538.57 6076.39 6111.68 35.29

Outstanding Borrowings 44 Report of the Task Force

41.02

2007-08 883.25 3250.00 175.00

2008-09 943.68 2300.00 1533.30 3500.00 333.00 500.00

2009-10 1080.46

2010-11 1259.56 800.00 917.65

2011-12 1491.85 900.00 941.65

2012-13 1736.56 700.00 838.45

2013-14 1930.12 400.00 822.75

(Rs. in crore)
1323.84 300.00 175.00 Total

10219.40 11100.00 5553.80 1330.27 1559.30 8300.00 1500.00 1000.00 4591.22 71.28 1500.00 1650.00 1078.10 100.00 610.00 800.00 71.28

555.95 818.05 3000.00 423.00 300.00

500.00 1800.00 258.00 200.00

213.00

9405.25 423.00 400.00 100.00 100.00 30.00

1197.50

9109.98 333.00 300.00 100.00 100.00 30.00

1010.00

3838.46 817.00 258.00 170.00 100.00 122.00 87.50

3190.21 213.00 150.00 150.00 100.00 122.00

654.50

3333.5

3275.01

3152.87

42432.89

150.00 150.00 100.00 122.00

150.00 150.00 100.00 122.00

150.00 150.00 100.00 122.00

58.70 3250.00 3308.70

9.49 555.95 565.44 25.00 818.05 843.05

54.65 1533.30 1587.95

83.40 2300.00 2383.40

29.35 500.00 529.35

32.35 917.65 950.00

64.70 800.00 864.70

16.70 900.00 916.70

8.35 941.65 950.00

23.10 700.00 723.10

11.55 838.45 850.00

9.95 822.75 832.70

29.70 400.00 429.70

302.20 11100.00 11402.20

27.31 1330.27 1357.58 25.00 1559.30 1584.30

146.20 5553.80 5700.00

1995.69 8047.00 10042.69 10045.99 3.30

75.00 3000.00 3075.00

75.00 3500.00 3575.00 1753.05 7666.30 9419.35 9421.00 1.65

50.00 1800.00 1850.00 1375.85 2558.00 3933.85 3978.36 44.51

1273.55 1930.65 3204.20

0.00

337.72

836.07

991.56

3320.14

115.94

547.05 1841.65 2388.70

875.62

3233.21

844.51 31.11

556.65 1538.45 2095.10

2096.75

1.65

561.65 1222.75 1784.40

29.46

1786.05

1.65

9601.31 29343.37 38944.68

200.00 8300.00 8500.00

27.81

39993.18

1048.50

Financing Plan for Airports 45