The Mumbai International Airport has sought permission from the Airports Economic Regulatory Authority (AERA) to increase aeronautical tariffs by 660 per cent. If the proposal is accepted by the regulator, it will make it more expensive for users.
Operator GVK Infrastructure and Power has suggested the introduction of user development fee on passengers to recover the cost incurred for the airport modernisation project that has shot up to Rs 12,300 crore.
Aeronautical tariffs include parking, landing and navigation fees for airlines, as well as passenger levies on fares.
Earlier, Delhi International Airport Ltd had sought a one-time 774 per cent increase in tariff.
The airport regulator granted a 340 per cent hike, making Delhi Airport the most expensive airport for passengers in the country.
AERA will discuss the demand for tariff hikes by the Mumbai airport over the next fortnight. When contacted, the operator declined to comment on the development.
The stock of GVK Power and Infrastructure reacted positively and closed at Rs 14.50, up 6.07 per cent, on the Bombay Stock Exchange on Monday.