TBM Staff - Mumbai Profits of Indian airports are expected to grow by 35% due to strong demand, according to aviation consultancy firm CAPA.
The airport industry’s pre-tax profit will rise to INR 10,370 crore, up about 35% from INR 7,680 crore a year ago, said CAPA India’s Vice President Paramprit Singh Bakshi at the CAPA India Aviation Summit in Delhi.
Low-cost carrier IndiGo dominates Indian skies with a 60% market share. The Air India group, with two budget carriers and two full-service carriers in Air India and Vistara, have roughly a 30% share.
The capacity crunch would be eased with an addition of 84 aircraft in the current year, taking airlines’ overall fleet including grounded jets to 812 from 728 as of March, CAPA India CEO Kapil Kaul said at the summit, reports Hindustan Times.
Indian airport operators have benefited, as the government has driven investments to develop new terminals and refurbish existing ones, according to the report. Operator revenue is forecast to grow 14.8% in the current year, helped by steady domestic passenger growth and a quick-paced rebound in international travel.
India expects to have 350 airports by 2030, more than double from the 144 in 2019, according to an earlier CAPA India estimate and government data, the report read.
