Indian airports to return to profitability in FY23: Icra
AVIATION & AIRPORTS

Indian airports to return to profitability in FY23: Icra

According to rating agency Icra Limited, Indian airports are set to return to profitability in the financial year starting 1 April after two years, driven by the resumption of international commercial operations and increased tariffs.

According to Icra estimates, the passenger traffic in domestic and international flights is expected to increase by 68-70% per year to 317-320 million in the next fiscal.

The domestic passenger traffic is estimated to have an annual growth of 64-66% in FY23 to reach pre-covid levels during the next fiscal year.

According to a report by Icra, with the resumption of international commercial operations after two years of the flight ban because of the Covid-19 pandemic, international traffic is expected to grow 100-105% year-on-year (YoY) in FY23 and recover to pre-Covid-19 pandemic levels in FY24.

It added that, in FY22, passenger traffic is estimated to increase by 62-64% YoY to 187-189 million despite the disruption of the Omicron variant, but supported by a healthy pace of vaccination.

Indian airlines have the approval to operate about 1,466 weekly international departures between 27 March to 29 October.

Image Source

Also read: AAI targets capital outlay of Rs 91k cr in airport sector

According to rating agency Icra Limited, Indian airports are set to return to profitability in the financial year starting 1 April after two years, driven by the resumption of international commercial operations and increased tariffs. According to Icra estimates, the passenger traffic in domestic and international flights is expected to increase by 68-70% per year to 317-320 million in the next fiscal. The domestic passenger traffic is estimated to have an annual growth of 64-66% in FY23 to reach pre-covid levels during the next fiscal year. According to a report by Icra, with the resumption of international commercial operations after two years of the flight ban because of the Covid-19 pandemic, international traffic is expected to grow 100-105% year-on-year (YoY) in FY23 and recover to pre-Covid-19 pandemic levels in FY24. It added that, in FY22, passenger traffic is estimated to increase by 62-64% YoY to 187-189 million despite the disruption of the Omicron variant, but supported by a healthy pace of vaccination. Indian airlines have the approval to operate about 1,466 weekly international departures between 27 March to 29 October. Image Source Also read: AAI targets capital outlay of Rs 91k cr in airport sector

Next Story
Real Estate

Tesla Leases Office Near BKC as India EV Launch Nears

Tesla Inc. has expanded its footprint in India by leasing a new office space near Mumbai’s Bandra-Kurla Complex (BKC), reinforcing its preparations for an electric vehicle (EV) launch in the country. The 30-seat office, situated at Phoenix Market City in Kurla—an established commercial hub close to BKC—represents a strategic operational milestone for the company.The office, secured through Tesla’s Indian arm, Tesla India Motor & Energy, has been leased at Rs 300,000 per month for a period of one year, with a lock-in duration of three months. This arrangement offers Tesla the flexib..

Next Story
Real Estate

Mascot to Develop 385-Acre Industrial Township Near Ahmedabad

Ahmedabad-based developer Mascot Infrastructure has announced plans to establish an integrated industrial township spanning 385 acres at Vithalapur in Ahmedabad district. The project, titled Mascot Industrial City, is positioned to benefit from its proximity to Gujarat’s emerging auto manufacturing hub and key infrastructure corridors.Strategically located near Vithalapur’s automotive cluster, the township will enjoy seamless connectivity to major economic zones including the Delhi-Mumbai Industrial Corridor, Dholera Special Investment Region (SIR), GIFT City, and Sanand GIDC, according to..

Next Story
Real Estate

Casagrand Launches Ultra-Luxury GS Infinity Project in Hyderabad

Casagrand has strengthened its presence in Hyderabad’s residential market with the launch of Casagrand GS Infinity, the company's fourth major development in the city. This new ultra-luxury community, located in Attapur, highlights Casagrand’s vision of redefining urban living through thoughtful design and premium amenities.Spread across 4.8 acres, Casagrand GS Infinity offers 405 residences, including 3 BHK and 4 BHK high-rise apartments, as well as exclusive 5 BHK floor villas. The project boasts over 100 world-class amenities, creating an environment focused on wellness, recreation, and..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?