AAI to post highest ever pre-tax profit of Rs 5,000 cr in FY24: CMD Sanjeev Kumar (IAS)

New Delhi: Airports Authority of India (AAI) is expected to report the highest-ever profit of Rs 5,000 crore in the financial year 2023-24, AAI Chairman and Managing Director Sanjeev Kumar (IAS) said on Monday.

In recent years, the number of airports has gone up, especially with the regional air connectivity scheme, amid rising domestic air traffic.

AAI CMD said the organisation surpassed the capital expenditure target at around Rs 5,250 crore in the fiscal ended March 2024.

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In 2023-24, the turnover is expected to be around Rs 15,000 crore and the profit before tax at Rs 5,000 crore, which will be the "highest ever in our history," Kumar said.

He was speaking at the 29th annual day of the AAI.

At the function, Civil Aviation Minister Jyotiraditya Scindia said the number of airports, heliports and waterdromes has increased to 157 from 74 in the last 10 years.

Efforts are on to increase the number to 200, he added.

It is pertinent to mention here that AAI has achieved ‘Excellent’ rating under MoU 2022-23, signed with Ministry of Civil Aviation. AAI’s MoU score of 91.50 for the financial year FY'23 was at par with the the final rating as ‘Excellent’.

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