GACL Produces Detailed Breakdown Of Colossal Debt McDan Aviation Owes It

• The Ghana Airports Company Limited (GACL) has provided a detailed breakdown of the colossal debt McDan Aviation owes
• The GACL noted that its decision to shut down McDan Aviation's private jet terminal stems from its failure to pay a $3 million + debt
• The debt includes accumulated land leases, terminal charges, and rental charges

The Ghana Airports Company Limited (GACL) has refuted McDan Aviation's claims that about $2 million of its $3 million debt is linked to a land under litigation.

Providing a detailed breakdown of the debt McDan Aviation owes, which resulted in the shutdown of the McDan Aviation Private Jet Terminal at the Kotoka International Airport, GACL stated that the debt far exceeds the stated $3 million.

It said the debt, which comprises accumulated land leases, terminal fees and rental charges, currently stands at $3,995,622.66 and GH₵ 13,523.37.

According to GACL, McDan Aviation's claims that it has settled a significant part of its debt are false.

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It disclosed that McDan Company Limited, on Friday, December 24, 2024, paid only GH₵ 2,000,000 out of the outstanding $3,995,622.66 and GH₵ 13,523.37 owed GACL.

Breakdown of the unpaid debt

GACL, in their comprehensive breakdown of McDan Aviation’s colossal debt, explained that McDan developed the land under litigation.

It broke 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 was also to pay GACL a 15% share of the gross revenue as monthly revenue covering September 1, 2022, to November 30, 2024; however, that, too, has been outstanding.

Concerning the land issues, GACL stated that despite the claimed land litigation, McDan has developed the lands with commercial buildings and has benefited from rental proceeds while refusing to pay GACL ground rents.

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The GACL also stressed that McDan Company Limited, despite being presented with payment plans as far back as 2020, has continued to default on payments, leading to the colossal debt.

GACL said its position on the closure of McDan Aviation’s Private Jet Terminal is unwavering, and it will continue to demand the full payment of money owed to it.

McDan Aviation dismisses $3 million claim

YEN.com.gh reported that McDan Aviation had explained that $2 million of the debt it owes is tied to a piece of land purchased from GACL, which is currently under litigation.

He explained that after GACL had sold them the land, a third party had acquired it and registered it at the Land Commission.

However, despite the development, the GACL has allegedly been adamant about collecting hefty land rights from McDan Aviation despite the legal challenge.

Source: YEN.com.gh