New Delhi: GMR led Delhi International Airport today signed a land license agreement with the European aviation consortium Airbus, for setting up India's first full flight simulator at the Aerocity - Terminal District of Indira Gandhi International (IGI) Airport.
The France based company will set up India's first full flight simulator on the 1.11 acre of land, to setting up a training facility for pilots and aircraft maintenance engineers.
The deal was signed today between DIAL, and Airbus India for a period till 31st March, 2036. Airbus will also establish its India Headquarter within the same development.
DIAL has received the initial security deposit and ADC and will also receive an annual license fee from this license, a release said.
Airbus India had decided to open its full flight training centre at the Aerocity – Terminal District of Indira Gandhi International (IGI) Airport as Delhi is a key base for most of the airlines - Air India, Indigo and Vistara.
A DIAL spokesperson, commenting on the development said, "This is the second significant transaction in Delhi Aerocity after recent deal signed with Bharti Realty Holdings Limited. DIAL is putting together a plan for development of infrastructure for public amenities at Aerocity in an effort to increase the velocity of land monetisation."
DIAL earlier had awarded Bharti Realty Holdings Limited, the contract to design, develop, construct, finance, own, operate and maintain land parcel at Delhi Aerocity.
The transaction involved upfront payments of Rs. 315 crore and a license fee equivalent to 20 per cent of revenue with minimum guaranteed payments.