Adani Airports revenue dips 25%

Forum Gandhi Mumbai | Updated on August 03, 2021

Gautam Adani, CMD   -  RAJEEV BHATT

Hit by the second wave of the Covid-19, Adani Airports’ revenue dipped 25 per cent to ₹68 crore in the first quarter ended June, compared to revenue of ₹90 crore during the fourth quarter of FY21.

The passenger arrivals at its airports dropped by 56 per cent from 35 lakh passengers in the first quarter compared to 80 lakh in the January-March quarter.

Adani Airports has calculated the revenues for only four airports that are operational. For the first quarter, its loss before interest and tax stood at ₹69.50 crore compared to a loss of ₹88 crore in the sequentially preceding quarter.

“Passenger and Aircraft movements impacted due to lower airline movements on account of restricted air travel,” Adani Airports said. “ However, the passengers and aircraft movements are expected to rise due to increase in vaccination drive and phased unlocking,” it added.

Informing its investors about its strategy for the airports' segment, Adani said that it will adopt that ‘gateway-feeder’ airport strategy. A gateway-feeder airport strategy means a mix of hub airports and supporting airports.

According to an investor presentation, it is targeting international passengers from Europe, Middle East and Far East. Its gateway airports will be Mumbai and Ahmedabad whereas its feeder airports will be Lucknow, Guwahati, Thiruvananthapuram, Jaipur, Mangaluru and Ahmedabad.

It also plans to have installations like concept stores, global and local cuisine as part of its retail strategy at the airports.

Published on August 03, 2021

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