Wednesday, September 23, 2020

Pandemic effect: AAI revenue records 90 per cent drop during April-June

New Delhi:  The Airports Authority of India (AAI) has reported a sharp decline in its revenue during  April and June this year. Revenue recorded nearly 90% decline as it fell from `2,973 crore during April-June 2019 to `239 crore during April-June 2020.

Air transport was suspended from March 25 till May 24 which rendered zero traffic at AAI airports. Even after the resumption of flights, traffic is yet to pick up at airports due to quarantine measures implemented by states and an overall fear of flying.

It is expected that the traffic will reach its normal level only by the end of this year or even after that.

Officials said despite a fall in revenues, the airport’s authority will not reduce its capital expenditure plan as all public sector enterprises have been asked by the Finance Ministry to continue with the proposal to revive the economy.

The AAI has earmarked around Rs 20,000 crore to be spent in the next five years. Recently, the Civil Aviation Ministry said the revenuer of the airlines recorded a sharp reduction as it fell by nearly 86%during the pandemic.

23/09/20 New Indian Express

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