AAI reports Rs 3,400 cr profit in FY23
image for illustrative purpose
New Delhi: Airports Authority of India (AAI) is back in the black, raking in a profit of Rs 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 Rs 803.72 crore in the fiscal ended March 2022, the same stood at Rs 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 said that AAI has recorded a profit of Rs 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.
In 2022, domestic air passenger traffic surged 47.05 per cent to 12.32 crore compared to 8.38 crore in the year-ago period.
