Indian aviation sector to witness investments worth Rs 1.65 lakh cr
AVIATION & AIRPORTS

Indian aviation sector to witness investments worth Rs 1.65 lakh cr

Minister of Civil Aviation Jyotiraditya Scindia said that the aviation sector is expected to witness investments worth Rs 1.65 lakh crore, including from private players, in the coming years.

The government also aims to have 200 airports in the country. The civil aviation sector, being hit by the Covid-19 pandemic, is recovering, and domestic passenger traffic is slowly touching the pre-pandemic levels.

Scindia said that the Ministry has a plan of close to Rs 98,000 crore over the next four years to be deployed in airports.

Of the total amount, Rs 25,000 crore would be from the Airports Authority of India (AAI), and Rs 22,000 crore for airports expansion and construction of new terminal buildings.

He highlighted that in the past eight years, the Ministry has built 67 airports and plans to build nearly 200 airports in India. He mentioned a new policy for smaller aircraft to encourage regional transport aircraft, helicopters and seaplanes.

Further, he intends to connect Tier 2 to 3 cities to metros and has planned over the next three to four years.

Amid the high growth potential in the country’s aviation sector, a new airline Akasa might take to the skies in the coming months, and the now-shuttered Jet Airways would restart operations.

Scindia added that Akasa and Jet Airways might begin operations before the end of this financial year.

According to data, this year, in March, around 1.06 crore domestic passengers travelled via air.

Image Source

Also read: Civil Aviation ministry to develop 21 greenfield airports in India

Minister of Civil Aviation Jyotiraditya Scindia said that the aviation sector is expected to witness investments worth Rs 1.65 lakh crore, including from private players, in the coming years. The government also aims to have 200 airports in the country. The civil aviation sector, being hit by the Covid-19 pandemic, is recovering, and domestic passenger traffic is slowly touching the pre-pandemic levels. Scindia said that the Ministry has a plan of close to Rs 98,000 crore over the next four years to be deployed in airports. Of the total amount, Rs 25,000 crore would be from the Airports Authority of India (AAI), and Rs 22,000 crore for airports expansion and construction of new terminal buildings. He highlighted that in the past eight years, the Ministry has built 67 airports and plans to build nearly 200 airports in India. He mentioned a new policy for smaller aircraft to encourage regional transport aircraft, helicopters and seaplanes. Further, he intends to connect Tier 2 to 3 cities to metros and has planned over the next three to four years. Amid the high growth potential in the country’s aviation sector, a new airline Akasa might take to the skies in the coming months, and the now-shuttered Jet Airways would restart operations. Scindia added that Akasa and Jet Airways might begin operations before the end of this financial year. According to data, this year, in March, around 1.06 crore domestic passengers travelled via air. Image Source Also read: Civil Aviation ministry to develop 21 greenfield airports in India

Next Story
Infrastructure Urban

KEI Industries Faces Rs 80 Mn Daily Loss Amid Wage Dispute

KEI Industries Limited, one of India's prominent manufacturers of wires and cables, is encountering significant financial challenges, with reported losses amounting to Rs 8 crore per day. The company's operations have been severely impacted by a wage dispute, exacerbating its financial woes amidst broader economic pressures. The wage row has led to disruptions in KEI Industries' production and operational efficiency, affecting its ability to meet market demands and maintain profitability. This situation underscores the critical nature of resolving labour disputes swiftly to mitigate adverse i..

Next Story
Infrastructure Urban

Hyderabad Aims for World-Class Status

Telangana Chief Minister K Chandrasekhar Rao emphasized the state government's commitment to developing Hyderabad into one of the world's best cities. During a recent event, Rao highlighted several key initiatives aimed at enhancing the city's infrastructure, urban planning, and overall quality of life. He noted that the government's comprehensive approach includes substantial investments in various sectors to ensure sustainable growth and development. Rao detailed plans for significant improvements in transportation, including the expansion of metro rail services, upgrading road networks, an..

Next Story
Infrastructure Urban

Ferrari's First Electric Car Debuts

Ferrari is set to launch its first fully electric vehicle (EV), with a price tag exceeding $500,000, as reported by industry sources. This move marks Ferrari's entry into the electric vehicle market, aligning with the global shift towards sustainable mobility and reducing carbon emissions. Ferrari, electric vehicle, $500,000, sustainable mobility, carbon emissions. The new electric Ferrari, expected to debut in 2025, promises to uphold the brand's legacy of high performance and luxury. The vehicle will feature advanced technology, ensuring it delivers the iconic Ferrari driving experience desp..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram