Centre Plans Capex Of Rs 30,000 Crore For Airport Capacity Ramp Up

The centre aims to spend around Rs 30,000 crore over the next five years to enhance airport infrastructure across the country, Civil Aviation Minister Jyotiraditya Scindia said on Monday during the Airports Authority of India (AAI)'s Annual Day celebrations.

"In the next five years, we have a capital expenditure (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.

Airports Authority of India, the mainstay of civil aviation in the country celebrated its 29th Annual Day on 1 April 2024. The AAI owns and runs more than 100 airports in India.

In the fiscal year 2023-24, the organisation's capex stood at Rs 5,250 crore, slightly higher than the capex in 2022-23, which was Rs 5,175 crore, according to AAI Chairman Sanjeev Kumar.

The chairman mentioned that the AAI is expected to achieve its highest-ever turnover of Rs 15,000 crore in 2023-24. Additionally, he stated that the AAI's profit before tax is anticipated to be approximately Rs 5,000 crore in the same fiscal year.

"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.