Capital outlay of Rs 98,000 cr committed for modernization of Airports in next 5 yrs

New Delhi, Dec 23 (KNN) Airport Authority of India and other airport developers have targeted capital outlay of approximately Rs 98,000 crore for the sector in the next five years for the expansion and modification of existing terminals, new terminals and strengthening of runways, among other activities.

Replying to a question in the parliament, Union Minister of State for Aviation General VK Singh (retd) on Thursday pointed out that the direct employment in the aviation and aeronautical manufacturing sector is around 2, 50,000 employees. It includes pilots, cabin crew, engineers, technicians, airport staff, ground handling, cargo, retail, security, administrative and sales staff, etc.

The revenue earned by Airports Authority of India (AAI) during the last three years of FY20, FY21 and FY22 stands at Rs 12,837 crore, Rs 4,867 crore and Rs 6,841 crore, he said.

The Airports Authority of India’s prediction for all-India passenger throughout growth in the next three years for fiscal 2023-24 (FY24), FY25 and FY26 stand at 371 million passengers, 412 million passengers and 453 million passengers, respectively.

As per the statement, the hospitality and aviation have been the worst affected during Covid pandemic which has impacted revenue and profitability of the stakeholders.

Singh also pointed out that goods and services tax (GST) rate had been reduced from 18 per cent to 5 per cent for domestic maintenance, repair and overhaul (MRO) services.

Under the UdeDesh ka Aam Nagrik (UDAN), 453 routes connecting 70 airports which included nine heliports and two water aerodromes have been operationalised.  (KNN Bureau)