The Ghana Airports Company Limited (GACL) has provided clarification regarding the outstanding debts of the McDan group of Companies (Ltd)
The GACL stated that McDan Company Limited owes a total of $3,995,622.66 and GHS 13,523.37.
This includes $640,232.48 for rent and fees for Terminal 1, $1,160,827.23 for a block factory on 5.66 acres off Spintex Road, $2,168,266.75 for an airport logistics building on 10.63 acres off Spintex Road, $8,140 for space rental at the Courier Enclave (0.59 acres), and $18,156.20 (GHS 13,523.37) for offices at the Cargo Village.
According to the GACL, multiple letters were sent, and several meetings were held with the company to address and facilitate the settlement of these debts.
“Ghana Airports Company Limited (GACL) conducts a regular debt collection exercise every month to recover debts owed the company and also round up debt collection for the year.
“The exercise involves a number of companies operating at Kotoka the InternationalAirport that have failed to honour their obligations.”
The company further stated that, in addition to the outlined debts, McDan Company Limited is obligated to remit 15% of its gross revenue to the Ghana Airports Company Limited (GACL) as monthly revenue returns.
This obligation, covering the period from September 1, 2022, to November 30, 2024, remains unpaid and constitutes part of the outstanding amounts owed to GACL.
The Ghana Airports Company Limited (GACL) stated that, for the record, McDanCompany Limited made a partial payment of two million Ghana cedis (GHS 2,000,000) on Friday, December 24, 2024.
This payment, according to the company, is a fraction of the total outstanding amount of $3,995,622.66 and GHS 13,523.37 owed to GACL. Despite this payment, a significant balance remains unsettled, highlighting the company’s continued indebtedness.
Additionally, the Ghana Airports Company Limited (GACL) highlighted that McDanCompany Limited has claimed some of the lands acquired from GACL as far back as 2015 which are under litigation.
According to the company, based on this claim, McDan has requested GACL to pause efforts to recover payments for these properties.
However, GACL pointed out that despite the alleged litigation, McDan has gone ahead to develop the said lands, constructing commercial buildings that are generating rental income.
Despite profiting from these developments, McDan has not paid the required ground rent to GACL, further compounding the company’s financial obligations.
“Prior suggested payment plans from McDan Company Limited which was presented as far back as 2020 was defaulted, therefore it is our position to demand full payment of monies owed.”
The Ghana Airports Company Limited (GACL) further revealed that four other companies operating at Kotoka International Airport were recently shut down due to their failure to settle outstanding debts owed to the organization.
The GACL emphasized its commitment to enforcing financial discipline and reiterated its ongoing efforts to recover all monies owed.
The company assured that it remains resolute in pursuing debts, as it has consistently done over the years, to ensure the financial sustainability and efficient management of its operations.
Meanwhile, McDan Aviation denied reports suggesting that a $3 million debt to the Ghana Airports Company Limited (GACL) was the reason behind the closure of its private jet terminal at Kotoka International Airport.
The company clarified that $2 million of the alleged debt relates to land acquisition from GACL, which is currently the subject of litigation.
The McDan Group further stated that it has made partial payments towards the outstanding terminal charges and expressed optimism that GACL will soon reopen the private jet terminal for operations.