Sunday, May 21, 2023

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

New Delhi: Airports Authority of India (AAI) is back in the black, raking in a profit of ₹ 3,400 crore in the fiscal ended March as surging domestic air traffic boosted its financial performance, according to a source.

AAI has reported a profit for the first time after the coronavirus pandemic that had significantly impacted air traffic and the aviation sector as a whole.

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

While the loss was ₹ 803.72 crore in the fiscal ended March 2022, the same stood at ₹ 3,176.12 crore in the financial year ended March 2021.

These figures excluded exceptional and extraordinary items and tax.

The source in the know told PTI that AAI has recorded a profit of ₹ 3,400 crore for the 2022-23 financial year.

This is a provisional figure and the final figure will be known after the audit of the financial results.

The source also said the good performance was mainly due to the high growth in domestic air traffic.

Further, the passenger numbers soared 51.70 per cent to 3.75 crore in the first three months of this year as against 2.47 crore in the same period a year ago, as per official data.

21/05/2023 PTI/NDTV

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