Indian Airports likely to become Profitable in FY 2023: ICRA

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Indian Airports likely to become Profitable in FY 2023: ICRA
28 Mar 2022
5 min read

News Synopsis

As India resumes International Flights operations on March 27th after a gap of two years, ICRA believes this could make Indian Airports profitable in FY 2023. ICRA’s, Group head for Corporate Ratings, Rajeshwar Burla said: "Resumption of international commercial operations would accelerate the traffic recovery. Southeast Asia, the Middle East, and Europe are expected to be the major destinations driving the demand. The yield per passenger is much higher for the international sector both from aero and non-aero revenues perspective which is a positive for airport operators." As per the estimates of ICRA, in FY2023,  all India passenger traffic is expected to rise by 68-70 percent YoY to 317-320 million. On the other hand, domestic passenger traffic is likely to increase by 64-66 percent YoY FY2023 and reach pre-COVID-19 levels and international traffic is expected to surge by 100-105 percent YoY in FY2023 and recover to pre-COVID-19 levels in FY2024. 

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