April 25, 2024

Civil Aviation Minister Jyotiraditya Scindia

The Airports Authority of India (AAI) is planning a capital expenditure (capex) of about Rs 30,000 crore in the next five years to build and revamp airport infrastructure across the country, Civil Aviation Minister Jyotiraditya Scindia said on Monday.

“In the next five years, we have a capex plan of Rs 30,000 crore. Our AAI faces a lot of headwinds… but I am sure that all the tailwinds will support the AAI in the next five years,” Scindia said in his speech during the AAI’s Annual Day celebrations. The AAI owns and runs more than 100 airports in India.

AAI Chairman Sanjeev Kumar said the AAI’s capex in 2023-24 stood at Rs 5,250 crore. It was a bit higher than the capex of 2022-23, which stood at Rs 5,175 crore. “We are likely to achieve a turnover of Rs 15,000 crore in 2023-24, which would be the highest ever in the history of the AAI,” he noted.

He said the AAI’s profit before tax would be at approximately Rs 5,000 crore in 2023-24. “I also feel very happy to share that our Memorandum of Understanding (MoU) rating for 2023-24 has become excellent after a gap of five years,” he noted. This year, the AAI dedicated 20 new terminals or airports to the nation.

Civil Aviation Secretary Vumlunmang Vualnam exhorted the AAI to increase its efficiency, keeping in mind the competition it is facing from privatised airports.

“I especially appeal to the employees to keep it up and keep moving forward. We are in a competitive environment. There are many airports beyond the airports of the AAI. The Indian traveller, especially inside India, expects very high standards and will raise their concerns very promptly if they find something. Therefore, as a family of the AAI, we need to improve. Efficiency has to go up, effectiveness has to go up, promptness has to go up,” he noted.

First Published: Apr 01 2024 | 8:44 PM IST