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Business EconomyPosted at: May 16 2024 2:13PM


Airport firms' revenue may grow 15-17 pc in FY25 on higher traffic, tariff hike

New Delhi, May 16 (UNI) Driven by higher passenger traffic, an increase in tariffs at some of the major airports, and a ramp-up in non-aeronautical revenues, Indian airport operators could see their revenue rise by 15–17pc in the current financial year 2024–25, rating and research firm ICRA said on Thursday.
The rating agency expects the overall air passenger traffic to witness healthy growth of around 8–11pc year-on-year to around 407–418 million in FY25, supported by strong pick-up in both leisure and business travel, improved connectivity to newer destinations in the domestic segment, and the continued uptick in international travel.
It is estimated that air passenger traffic reached 376.4 million (+15% YoY) in FY24, surpassing the pre-Covid level by 10pc.
“The recovery in Indian airport passenger traffic is one of the best compared to other major global counterparts. India accounted for 4.2p of the global passenger traffic in CY2023 (calendar year 2023), and its share in passenger traffic has improved from 3.8pc in CY2019. While global passenger traffic recovered to just 96pc of global passenger traffic in CY2023, the Indian airport passenger traffic revived to 106pc of the pre-Covid level owing to strong economic growth as well as the addition of new airport routes,” said Vinay Kumar G, Vice President & Sector Head, Corporate Ratings, ICRA.
He further added,” The Indian air passenger traffic is expected to outperform the global trend.”
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Tags: #Airport firms' revenue may grow 15-17 pc in FY25 on higher traffic# tariff hike
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