Millennium Post

Airports Authority recovers Rs 62 cr from ad agency

State-run Airports Authority of India [AAI] has recovered dues worth about Rs 62 crore from an advertising agency, even as all private airlines, including crisis-ridden Kingfisher, together owe over Rs 300 crore to it.

Against an estimated outstanding of Rs 77.05 crore, the ad agency, TDI International India Limited, has paid Rs 61.85 crore to the AAI towards its settlement, an official statement said.

TDI was given advertising rights at a number of airports including Chennai, Kolkata, Ahmedabad, Amritsar, Pune, Thiruvananthapuram, Calicut, Tirupati, Goa and Jammu.

A process of reconciliation over the dues was being carried out in respect of Amritsar, Jammu, Pune and Kolkata airports, with the AAI setting up a committee on the matter. The statement said as soon as the committee submitted its report, the agency would be intimated to settle the outstanding amount. Over the 12th Plan period, AAI needs to raise Rs 17,000 crore for the expansion. 
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