The Ghana Airports Company Limited (GACL) has refuted claims by McDan Aviation that about $2 million of its $3 million debt is linked to a country under litigation.
Providing a detailed breakdown of the debt owed by McDan Aviation, which resulted in the closure of the McDan Aviation Private Jet Terminal on the Kotoka International AirportGACL stated that the debt far exceeds the stated $3 million.
Source: UGC
The debt, which includes accrued leases, terminal charges and rental charges, currently stands at US$3,995,622.66 and GH₵13,523.37.
According to GACLMcDan Aviation’s claims that it has paid off a significant portion of its debt are false.
It disclosed that on Friday, December 24, 2024, McDan Company Limited paid only GH₵2,000,000 of the outstanding $3,995,622.66 and GH₵13,523.37 owed by GACL.
Breakdown of unpaid debts
GACL, in their comprehensive breakdown of McDan Aviation’s enormous debt burdenexplained that McDan developed the land under litigation.
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It has broken down the debt as follows;
Terminal 1 rent and fees: $640,232.48
Block Factory, Spintex Road (5.66 acres): $1,160,827.23
Airport Logistics Building, Spintex Road (10.63 acres): $2,168,266.75
Courier Enclave (0.59 acres): $8,140
Cargo Village Offices: $18,156.20 (GH₵13,523.37)
McDan Aviation would also pay GACL a 15% share of gross revenues as monthly revenues for the period September 1, 2022 to November 30, 2024; But that was also excellent.
On the land issues, GACL stated that despite the claimed land disputes, McDan has developed the lands with commercial buildings and benefited from rental income while refusing to pay GACL ground rents.
The GACL also highlighted that despite having been granted payment plans as early as 2020, McDan Company Limited continues to default on its payments, which has led to the enormous debt burden.
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GACL said its position on the closure of McDan Aviation’s Private Jet Terminal is firm and it will continue to demand full payment of the money owed.
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McDan Aviation denies $3 million claim
YEN.com.gh reported that McDan Aviation explained that $2 million of the debt the company owes is tied to a piece of land purchased from GACL. currently the subject of a lawsuit.
He explained that after GACL sold the land to them, a third party acquired it and registered it with the Land Commission.
However, despite the development, GACL is said to have been adamant in collecting significant land rights from McDan Aviation despite the legal challenge.
Source: YEN.com.gh