New Delhi, Apr 24 (PTI) The TDSAT ruling on Delhi airport tariff provides clarity on issues pending for the last six years, GMR Infrastructure said today even as the appellate tribunal decided to leave the rates unchanged for now.

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) ruling on Monday came on appeals filed against AERA order by Delhi International Airport Ltd (DIAL).

Delhi airport is operated by DIAL, a joint venture where GMR is the majority stakeholder.

The tariffs for the airport were last revised in 2012 when Airports Economic Regulatory Authority (AERA) allowed hiking charges by 346 per cent as against 775 per cent sought by the private operator. The 2012 order was also challenged by airlines.

According to a regulatory filing by GMR Infrastructure, the tribunal has upheld the principles of Operation Management and Development Agreement (OMDA) and State Support Agreement (SSA) relating to the airport venture.

With regard to the rate of return of 16 per cent allowed by AERA for first control period, AERA "may re-do the exercise through a scientific and objective approach, independently of any observation in the third control period. The Civil Aviation Ministry had advised AERA to consider return on equity of 18.5 to 20.5 per cent," as per the filing.

"This is a significant event given that it provides clarity on the issues pending for the last six years and has laid down the principles to be followed by AERA in the third control period starting from April 1, 2019.

"With less than a year left in the second control period, we expect that the uplift impact of the TDSAT order to reflect in the tariff determination by AERA for the next control period," the filing said.

AERA decides the tariffs at major aerodromes which are fixed for 'control periods'.

The first control period for Delhi airport was from 2009-14 and the second is from 2014-19.

GMR also said the tribunal has ruled positively on Return on Refundable Security Deposits (RSD) of Rs 1,471 crore used for funding aeronautical assets, which were earlier given zero return while computing aeronautical charges by AERA.

"TDSAT has held that the rate of return on RSD to be determined by AERA at the time of next tariff determination and applicable from the first control period. This development addresses one of the most important DIAL grievance," it noted.

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