AAI is expected to report highest-ever profit of Rs 5,000 cr in FY 24

by Psu Connect
Date: 02-04-24

In recent years, there has been a rise in the number of airports due to the regional air connectivity scheme, which has led to an increase in domestic air traffic.

AAI is expected to report highest-ever profit of Rs 5,000 cr in FY 24

According to a senior official, the Airports Authority of India (AAI) is expected to report a record profit of Rs 5,000 crore in the 2023-24 financial year. Over the past few years, the number of airports has increased, particularly with the regional air connectivity scheme, leading to a rise in domestic air traffic.

AAI Chairman Sanjeev Kumar mentioned that the capital expenditure target of Rs 5,250 crore was exceeded in the fiscal year that ended in March 2024. For the fiscal year 2023-24, the turnover is expected to reach around Rs 15,000 crore, with a profit before tax of Rs 5,000 crore, which will be the highest ever in the history of the organization.

The 29th annual day of the AAI was being celebrated when Civil Aviation Minister Jyotiraditya Scindia delivered a speech. In his address, he mentioned that the number of airports, heliports, and waterdromes has increased from 74 to 157 in the last decade. He also shared that positive efforts are underway to further increase the number to 200.