The Ghana Airports Company Limited (GACL) has released a comprehensive account of the substantial debt owed by McDan Aviation, which led to the closure of its private jet terminal at Kotoka International Airport (KIA) on Monday, December 30, 2024.
Debt Overview
The total debt, exceeding $3 million, includes charges for land leases, terminal fees, and accumulated rental costs. Despite multiple notifications and a deadline for payment set for December 25, the majority of the debt remains unsettled.
In reaction, McDan Aviation has disputed the debt figures, claiming that $2 million of the total is related to a contested land acquisition that is currently subject to litigation.
Nevertheless, GACL has provided a detailed account of McDan Aviation’s outstanding debts, amounting to $3,995,622.66 and GHS 13,523.37. GACL further clarified that the land in question, which is under litigation, has already been developed by McDan.
The breakdown of the debts is 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 (GHS 13,523.37)
Additionally, McDan is obligated to remit to GACL a 15% share of gross revenue as part of monthly revenue returns for the period from September 1, 2022, to November 30, 2024, which remains unpaid.
For clarification, McDan Company Limited made a payment of two million Ghana cedis (GHS 2,000,000) on Friday, December 24, 2024, towards the outstanding total of three million nine hundred and ninety-five thousand six hundred and twenty-two dollars and sixty-six cents ($3,995,622.66) and thirteen thousand five hundred and twenty-three cedis thirty-seven pesewas (GHS 13,523.37) owed to GACL.
It is important to highlight that although McDan suggests that certain lands obtained from Ghana Airports Company Limited in 2015 are currently subject to litigation, and is consequently requesting GACL to postpone the collection of payments, McDan Company Limited has nonetheless developed these lands with commercial structures and is profiting from rental income generated by these properties, all while failing to remit ground rent to GACL.
Previous payment proposals from McDan Company Limited, submitted as early as 2020, have not been honored. Therefore, we assert our right to demand the full payment of the outstanding amounts owed.
