Indian airports to return to profitability in FY23: Icra

30 Mar 2022 CW Team

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.

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

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