GMR pays US$78 million upfront

GMR pays US$78 million upfront

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| DATE: 2010-11-01

MALE, November 1 (HNS) – India’s GMR Infrastructure had paid the US$78 million (about Rf1 billion) upfront to the government, Finance Ministry announced Monday.

State Minister for Finance Ahmed Aslam said the ministry received the bank deposit document on Sunday – the deadline for the payment.

The government earlier said the consortium formed between GMR and Malaysia Airports Holdings Berhad (MAHB) should settle the payment prior to the scheduled takeover of operations in November.

“The document was sent yesterday and the money would be received within 72 hours maximum. We are expecting to get the sum today, as yesterday was a public holiday [for other countries],” Aslam said.

The government leased the airport to GMR for 25 years on June 29. The Indian company formed a joint venture with Malaysia Airports Holdings and registered GMR Male International Airport Private Limited at Trade Ministry.

The GMR-MAHB consortium proposed to pay US$78 million (almost Rf1 billion) upfront, one percent of the total profit in the first year (until 2014) and 10 percent of the profit from 2015 to 2035. It also agreed to pay 15 percent of fuel trade revenues in the first four years and 27 percent from 2015 to 2035.

The government earlier revealed that GMR-MAHB would invest US$400 million for building, modernising, and expanding the airport.

SriLankan Airlines adds flights to Maldives

Saturday, 30 October 2010 10:33

Maldives Tourism Update (http://www.maldivestourismupdate.com/2010/10)

SriLankan Airlines is almost doubling daily flights to the Maldive islands from December 1 2010 to cater to the peak tourism season and also connecting a fourth city in China, a statement said.

The number of flights to Male is being increased to six a day from the earlier 3-4 a day, the airline, which has long been the largest carrier into the Maldives, said.

The new flights are part of a big expansion in its network and fleet."The most significant addition will be the launch of thrice-weekly services to Guangzhou scheduled for January 28, the fourth city in China to be served by SriLankan," the airline said.

This would take the route network of Sri Lanka's national carrier to 50 destinations in 31 countries.
In Europe, SriLankan will add its 13th weekly flight to London, with effect from December 15, flying twice daily on all days except Friday.

In Southeast Asia, both Singapore and Kuala Lumpur will have an added flight for a total of 11 flights each from December 01.

The Middle East will see significant changes throughout the region including the services to Bahrain, Muscat and Doha, the statement said.

Karachi will also have an added frequency, bringing it to four a week from December 01.

In India, where SriLankan serves six cities, there will be increased flights to Mumbai, Chennai and Bangalore.
Mumbai will have a total of 10 flights from December 01, up from the earlier daily frequency.

Chennai will have one additional flight for a total of 15 flights, with three on Friday and two each on all other days from December 01 and Bangalore will go to a daily frequency with the addition of one more flight.
The airline has already begun expanding its fleet, with seven more aircraft by the end of 2011.

The first of these, a wide-body Airbus A330, arrived last July. Three more are planned by February 2011, including two Airbus A320s, and a De Havilland Twin Otter floatplane for the re-launch of the domestic SriLankan Air Taxi service.

Jazeera Airways launches flights to the Maldives

Wed, 07 Nov 2007 11:39 PM - Dubai Time

Kuwait and Dubai based Jazeera Airways announced today the launch of their non-stop route from Dubai to the Maldives. Attending the media launch event in the Maldives were Jazeera Airways senior officials, members of the Kuwait Civil Aviation Authority, officials from the Maldives Tourism Promotion Board, the Maldives Minister of Tourism and travel agents from Kuwait and Dubai.

Jazeera Airways who operate a fleet of new Airbus A320s, all fitted with signature leather seats, are only the second carrier

to operate non-stop flights to the Maldives from Dubai, which will fly every Sunday and Tuesday.

Low-fares to the Maldives can be booked online at jazeeraairways.com, and customers can also reserve their preferred seats at the time of booking.