• UGI USER
  • Jun 08, 2024
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“INDIAN AIRPORTS FORECAST STRONG PROFIT GROWTH AMID AVIATION EXPANSION”

Why in the news?

  • Indian airports are projected to achieve a significant 35% growth in pre-tax profit for FY25, reaching ₹10,370 crore, attributed to robust demand for air travel and government investments in infrastructure.
  • With a forecasted 14.8% revenue growth, driven by domestic and international travel, India aims to become a major global aviation hub, with plans to expand its airport network to 350 by 2030.
source:medium

About India’s aviation sector:

  • India’s aviation sector ranks third globally in domestic market size, following the USA and China.
  • Infrastructure Development: The operational airport count has doubled from 74 in 2014 to 148 in April 2023.
  • Regional Connectivity Scheme-UDAN: The UDAN scheme aims to connect unserved and underserved airports, revitalizing air travel access.
  • Notable achievements: include Level 4+ ACI Accreditation and the operation of 66 Indian airports on 100% green energy.
About Airports Authority of India:

●      Statutory body under Ministry of Civil Aviation, India.

●      Formed: April 1, 1995, merging National Airports Authority and International Airports Authority of India.

●      Provides Air Traffic Management Services (ATMS) for safety.

●      Functions:include design, development, operation, and maintenance of airports, control of Indian airspace beyond territorial limits, and managing passenger and cargo terminals.

Associated Article:

https://universalinstitutions.com/wings-india-2024/