NEW DELHI: The Airports Authority of India (AAI) has reported a sharp decline in its revenue during April and June this year. Revenue recorded nearly 90% decline as it fell from `2,973 crore during April-June 2019 to `239 crore during April-June 2020.
Air transport was suspended from March 25 till May 24 which rendered zero traffic at AAI airports. Even after the resumption of flights, traffic is yet to pick up at airports due to quarantine measures implemented by states and an overall fear of flying.
It is expected that the traffic will reach its normal level only by the end of this year or even after that.
Officials said despite a fall in revenues, the airport’s authority will not reduce its capital expenditure plan as all public sector enterprises have been asked by the Finance Ministry to continue with the proposal to revive the economy.
The AAI has earmarked around Rs 20,000 crore to be spent in the next five years. Recently, the Civil Aviation Ministry said the revenuer of the airlines recorded a sharp reduction as it fell by nearly 86%during the pandemic.
tickets booked before lockdown refundable: DGCA TO APEX COURT
The DGCA has told the Supreme Court that passengers who booked flight tickets during the lockdown shall be entitled for immediate refund of the fare by the airline. In an affidavit, the DGCA asserted that the airlines were not supposed to book such tickets.
All forms of travel, including flights, were halted after a lockdown on March 24. Therefore, most airlines at the time had placed passengers in a credit shell. A credit shell is an open ticket through which a passenger can travel within the next seven months to one year. According to the submission, the passengers who booked tickets prior to the lockdown till up to May 24 would also get a refund through its credit shell and incentive scheme.