VP Agrawal, chairman, Airports Authority of India presented a final dividend cheque of Rs 147 crores to Union Minister of Civil Aviation Ajit Singh in the presence of KN Shrivastava, secretary(civil aviation). Also seen in the picture is Rajesh Bhandari, executive director (finance)
V P Agrawal, chairman, Airports Authority of India has presented today a final dividend cheque of Rs 147 crores to the Union Minister of Civil Aviation Ajit Singh in the presence of KN Shrivastava, secretary (civil aviation), Anil Srivastava, joint secretary, G Asok Kumar, joint secretary, M Kannan, economic advisor and AAI board members KK Jha, member (human resource), V Somasundaram, member (air navigation services), GK Chaukiyal, member (operations) and Rajesh Bhandari, executive director (finance).
Airports Authority of India (AAI) is an organisation of the Ministry of Civil Aviation and it has been making profits since its inception. For the financial year 2012-13, AAI earned revenue of Rs 6917 crores, profit before tax of Rs 1337 crores and has declared dividend of Rs 147 crores to the Government of India.
Despite increase in gross revenue during 2012-13 by Rs 1038 crores, profit before tax has reduced to Rs 1337 (previous year Rs 1364 crores), primarily due to increase in operating expenses, security operating expenses vis-a-vis PSF (security) amount received. Substantial investment in creation of infrastructure have taken place during the previous years, however the airport tariff have not been revised since 2003 baring Kolkata, Chennai Airport which was revised with effect from March 2013. Closure of M/s Kingfisher Airlines have also impacted the revenue of AAI.
In the process of modernising its airports terminals, passenger’s facilities and Air Traffic and Navigational Aids, AAI spent a sum of Rs 1800 crores in the year 2012-13 (previous year 2095 crores). Senior officers from Ministry of Civil Aviation as well as Airports Authority of India were also present on this occasion.