Mumbai International Airport Ltd (MIAL) aims to monetise 20-25 acres in this financial year and use the money to pare debt. A report by credit rating agency CRISIL says their cash balance reduced from Rs 1,270 crore at end-March 2018 to Rs 300 crore this March.
This was due to higher upfront investment in the Navi Mumbai airport project, muted traffic growth due to curtailment of flights by crisis-hit Jet Airways and increase in debt repayment due to a delay in loan restructuring. CRISIL reaffirmed an AA-negative and stable rating for MIAL’s Rs 10,500 crore debt. The company, ...
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