“Indira Gandhi International Airport Reports Q3 Loss Amidst Fog Woes”
Indira Gandhi International Airport, India’s largest airport, faced operational challenges during the foggy season, resulting in a reported loss of INR 127.7 crore for the October to December quarter (Q3 – FY24). Despite a total income of INR 1322.9 crore and an operational profit of INR 409.9 crore, higher finance and depreciation costs led to the quarterly loss.
Non-Aero Revenue Shines:
A noteworthy aspect was the stellar performance of non-aero revenue, constituting 57.4% of the total income at INR 759.7 crore. This segment, encompassing rentals, retail, food & beverage, duty-free shops, advertising, and car parks, saw an 8% increase compared to the previous quarter and a significant 12.5% rise from Q3-FY23. The robust non-aero income underscored the success of the airport’s diversified revenue streams.
Aero Revenue Overview:
Aero revenue, covering airline terminal space rentals, landing fees, and terminal-related fees, recorded a sequential growth of 7.2%, reaching INR 269.9 crore. Despite the challenges faced during the foggy period, aero revenue played a crucial role in contributing to the airport’s financial performance.
The airport’s innovative approach, resembling a “mall in an airport,” emphasized the significance of non-aero income, surpassing aero revenue by 2.8 times. This strategic diversification proved instrumental in mitigating losses and maintaining financial resilience.
Despite the quarterly setback, the airport’s commitment to enhancing non-aero revenue avenues positions it well for future financial stability, provided operational challenges are effectively managed.
