Delhi International Airport Private limited (DIAl) has signed a land license agreement with Airbus for setting up India’s first full flight simulator at the Aerocity - terminal district of Indira Gandhi International Airport (IGIA).
“On the 1.11 acre of land, the France-based company will set up India’s first full flight simulator to address the growing demand of trained pilots and aircraft maintenance engineers. Airbus will also establish its India head quarter within the same development,” said DIAl in a Press statement.
The land license agreement was signed between DIAl and Airbus India for a period till March 31, 2036. DIAl has received the initial security deposit and ADC and will also receive an annual license fee from this.
Airbus India had decided to open its full flight training centre at Delhi Aerocity - Terminal district keeping in mind the growing requirements of its customers as Delhi is a key base for most of the airlines - Air India, Indigo and Vistara.
Commenting on the development, a DIAl spokesperson, said, “This initiative is driven by the Indian Prime Minister’s ‘Make in India’ and ‘Skilling India’ vision. The Terminal district of Delhi Aerocity will see development of over two million square feet.
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 - Gateway District with a maximum permissible area of 1.96 lakh square meters. The transaction involved upfront payments of Rs 315 crore and a license fee equivalent to 20 per cent of revenue with minimum guaranteed payments.