Airports Authority Of India Reports Profit For First Time Since Covid Pandemic

In the monetary years — 2021-22 and 2020-21 — AAI had reported a loss. (Representational)

New Delhi:

Airports Authority of India (AAI) is again within the black, raking in a revenue of Rs 3,400 crore within the fiscal ended March as surging home air site visitors boosted its monetary efficiency, in line with a supply.

AAI has reported a revenue for the primary time after the coronavirus pandemic that had considerably impacted air site visitors and the aviation sector as an entire.

In the monetary years — 2021-22 and 2020-21 — AAI had reported a loss.

While the loss was Rs 803.72 crore within the fiscal ended March 2022, the identical stood at Rs 3,176.12 crore within the monetary 12 months ended March 2021.

These figures excluded distinctive and extraordinary objects and tax.

The supply within the know advised PTI that AAI has recorded a revenue of Rs 3,400 crore for the 2022-23 monetary 12 months.

This is a provisional determine and the ultimate determine might be identified after the audit of the monetary outcomes.

The supply additionally stated the nice efficiency was primarily because of the excessive progress in home air site visitors.

In 2022, home air passenger site visitors surged 47.05 per cent to 12.32 crore in comparison with 8.38 crore within the year-ago interval.

Further, the passenger numbers soared 51.70 per cent to three.75 crore within the first three months of this 12 months as in opposition to 2.47 crore in the identical interval a 12 months in the past, as per official knowledge.

In 2021-22, AAI had a meagre revenue of Rs 8.76 crore, together with distinctive objects and tax.

Meanwhile, within the fiscal ended March 2022, the federal government had waived obligatory dividend fee requirement. AAI had requested the waiver in lieu of waiving Air India’s that was completed previous to the sale of the loss-making service by the federal government to the Tata Group in January 2022.

AAI manages 137 airports, together with 24 worldwide and 80 home airports. It additionally supplies Air Traffic Management Services (ATMS) over whole Indian airspace and adjoining oceanic areas.

(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)

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