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Delhi International Airport Limited’s net loss has zoomed by a whopping 1000 per cent in FY21 to ₹ 343 crore compared to a loss of ₹3.89 crore in the previous fiscal.
Its revenues too dropped to ₹2,423.47 crore for the fiscal that ended on March 21 compared to the same time last year when it generated revenue from operations to the tune of ₹3,909.42 crore.
The company’s total expenses for the fiscal stood at ₹3,005 crore against ₹561 crore same period the previous fiscal, it said. This is in light of the airport’s expansion plan.
The documents were sourced from Tofler, and reviewed by BusinessLine .
Pandemic pain
The Covid-19 pandemic had a massive impact on the Indian aviation sector in FY 2020-21 with severely reduced domestic and international aviation operations. When the pandemic started spreading across the country, all scheduled international and domestic passenger flights were suspended from March 23, 2020 and March 25, 2020, respectively.
Delhi airport too witnessed a massive hit. According to its financial report, Delhi airport saw a decline of almost 60 per cent with 143.1 million passengers travelling during the year against 349.4 million passengers in FY20, a steep reduction of 206.3 mn passengers: Overall air traffic movement ATMs (excluding general aviation) handled across other Indian airports in FY21 stood at 13,39,897 with Y-o-Y de-growth of 48.6 per cent.
Starting July 2020, air bubble arrangements were formed with around 28 countries to enhance operations “but varied regional restrictions have seen such efforts produce little results,” the airport company said, adding that the pandemic further gripped the country’s aviation severely affecting airport operations throughout the year and further drove Indian aviation into greater turmoil.
Delhi Airport, being the largest airport in the country, also lost almost two-thirds of its traffic even with a slight recovery in domestic recovery during quarter 4 of the financial year. International traffic was down by more than 80 per cent compared to FY2020 due to sweeping travel restrictions from majority of countries and connecting hubs, forcing air traffic to come to almost a complete standstill across major routes, it informed.
Overall air traffic movement (ATMs) (excluding general aviation) at IGIA stood at 213,986 in FY21 with Y-o-Y de-growth of 52.4. Domestic ATMs de-grew by 48.8 per cent while the international ATMs de-grew by 63.7 per cent for the year.
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