CAPA report shows Indian airports report Rs 7,000 cr loss during covid, 63%fall in passenger traffic

The report, titled ‘India Airports Review FY2021,' also highlighted how total passenger traffic decreased by 63% to 115 million people, the lowest level since 2008.

0
CAPA report shows Indian airports report Rs 7,000 cr loss during covid, 63%fall in passenger traffic

In the fiscal year 2021, India’s airport operators lost Rs 7,000 crore. According to a report by CAPA India, they achieved profits of around Rs 5,160 crore in FY 2020. The report, titled ‘India Airports Review FY2021,’ also highlighted how total passenger traffic decreased by 63% to 115 million people, the lowest level since 2008. Airports’ combined operational revenue fell by 64.1 percent to Rs 83.1 billion (Rs 8,310 crore).

CAPA India is an aviation consulting organization with a customer list that includes numerous major airport operators and airlines. The AAI (Airports Authority of India) was responsible for 69% of the losses, while PPP (public-private partnership) operators were responsible for 31%. According to the report, the total cash burn for the year was Rs 135.9 billion (Rs 13,590 crore).

Domestic traffic fell by 61.8 percent to 105 million passengers, but foreign traffic plummeted by 84.8 percent to just 10.1 million passengers, the lowest level in nearly 30 years, according to the CAPA data.

Scheduled international flights are still prohibited from entering India, and only air bubble travel is authorized. Currently, Afghanistan, Bahrain, Bangladesh, Bhutan, Canada, Ethiopia, France, Germany, Iraq, Japan, Kenya, Kuwait, Maldives, Nepal, Netherlands, Nigeria, Oman, Qatar, Russia, Rwanda, Seychelles, Sri Lanka, Tanzania, Ukraine, UAE, United Kingdom, United States, and Uzbekistan have signed this agreement with India.

The majority of AAI’s airports — 107 out of 136 — have suffered losses, with 91 of them reporting cumulative losses of Rs 1,368.82 crore. 101 of the AAI-operated airports lost Rs 1,668.69 crore in FY19. According to data presented in Parliament last week by V.K. Singh, Minister of State for Civil Aviation, India’s airports are expected to continue to lose money as the coronavirus pandemic continues.

According to the analysis, passenger traffic may have been 7-10 million greater than present levels if various state governments had not made periodic regulatory modifications. This was especially true in Maharashtra, where it is believed that the Mumbai Airport alone lost 3.5-4.5 million passengers as a result of the strike. Mumbai has the highest fall in total traffic among metro airports,” it stated.

The Mumbai airport was the hardest hit among the metros, with a 75.9% drop in passenger traffic and a loss of Rs 317.41 crore. The second busiest airport was Chennai, which saw a 75.3 percent drop in passenger volume.

In comparison, Delhi saw a 66.4 percent drop and a Rs 317.41 crore loss, Bengaluru a 66.3 percent drop, Hyderabad a 63.4 percent drop, and Kolkata a 64.9 percent drop and a Rs 31.04 crore loss. Pune airport was the only one to report profits in 2021, valued at Rs 16.09 crore, according to data provided in Parliament.

(News input: The Print)

Summary
Article Name
CAPA report shows Indian airports report Rs 7,000 cr loss during covid, 63%fall in passenger traffic
Description
The report, titled ‘India Airports Review FY2021,' also highlighted how total passenger traffic decreased by 63% to 115 million people, the lowest level since 2008.
Author
Publisher Name
THE POLICY TIMES
Publisher Logo