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Business News/ Companies / News/  AAI to post record 5,000-crore profit in FY24, says chairman Sanjeev Kumar
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AAI to post record ₹5,000-crore profit in FY24, says chairman Sanjeev Kumar

In FY23, Airports Authority of India reported a profit before tax of ₹3,963.75 crore on revenue of ₹12,172.35 crore.

Nearly 20 new terminals and airports under AAI were inaugurated in FY24. Photo: MintPremium
Nearly 20 new terminals and airports under AAI were inaugurated in FY24. Photo: Mint

New Delhi: The state-run airports operator Airports Authority of India has posted a record profit of around 5000 crore, a top official said on Monday. "We are likely to achieve turnover of more than 15,000 crore in 2023-24 which is the highest ever in the history of AAI, with profit before tax of around 5,000 crore, which is also the highest ever in our history," AAI chairman Sanjeev Kumar said at the 29th annual day celebration.

In FY23 Airports Authority of India reported a profit before tax of 3,963.75 crore and a profit after tax of 2,972 crore. Its total revenue that year was 12,172.35 crore.

"Our memorandum of understanding rating for 2022-23 has become excellent after a gap of five years," Kumar added.

Nearly 20 new terminals and airports under AAI were inaugurated in FY24. AAI also completed the Ayodhya greenfield airport in a record 20 months, and the new terminal of Gwalior airport in 16 months.

AAI said it has also begun transitioning towards green energy at the majority of its airports. "So far now 67 of our functioning airports are fully operational with green energy and within the next year or so, we will implement it at the remaining airports," Kumar added. AAI operates more than 120 airports and civil enclaves in the country.

Record orders for planes and passenger growth in the Indian market have brought in urgency in the government to ensure there are enough controllers to guide the new aircraft. A shortage of air traffic controllers is a key issue that could hamper growth in the world’s third-largest domestic aviation market "We have hired over 500 air traffic controllers over the last two-and-a-half years to handle the growing demand for air travel," Kumar added.

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Published: 01 Apr 2024, 08:41 PM IST
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