Exclusive! IL&FS Delays add to Gulbarga woes
Neelam Mathews June11, 2023 The ambitious airport project by developers at Gulbarga is facing cost issues with IL&FS defaulting and dilly dallying on its promise to clear funds it had committed, a letter by the Karnataka government in early April, alluded. The deadline given for end May has passed and no word has come in from IL&FS we learn, from state government sources. "This is a big jolt to the government's touted regional airlines policy. Developers will not come in with money if partners default like this," said an airline official on anonymity. RAHI, the developer had, enthusiastically planned 99 regional airports for India after the government had said it wanted to improve and extend connectivity to remote areas. The Karnataka government had written to the shareholders, the letter was reviewed by Aerospacediary, to "quickly get back ..with a comprehensive plan by completing construction of the airport...by adhering to the extended timeline......