The project costs of nine (09) operationalized Greenfield airports are:- Durgapur-Rs. 57 crore, Orvakal (Kurnool)- Rs. 448 crore and. * India's aviation infrastructure received over Rs. 2 billion) in capital expenditure between FY20 and FY25 through the Airports Authority of India and public-private partnerships. The civil aviation industry in India has emerged as one of the fastest-growing sectors in recent. India's airports & aviation sector is currently growing rapidly, backed by significant investments and numerous opportunities despite facing some challenges. Passenger traffic is soaring due to a rising middle class, affordable air travel, and increased domestic tourism. This growth is driven by increasing air travel demand, with India's aviation sector expected to become the third-largest globally by the. SITA, the technology provider for the travel and transport industry, secured a landmark deal with Airports Authority of India to support one of the biggest growth markets globally, providing technology to 43 of India's biggest airports.
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What role does government play in modernizing airports in India?
Along with government thrust, investment and funding play crucial roles as well. The Airports Authority of India (AAI) has planned significant capital expenditure for modernizing existing airports and constructing new ones in cities like Varanasi, Bagdogra, Pune, Tiruchirappalli, Kochi, Gorakhpur, Guwahati, Patna, and Jaipur.
The Airports Authority of India is to spend Rs. 25,000 crore (US$ 3 billion) between 2022-27 to boost infrastructure facilities. Capacity (Available Seat Kilometre) available in domestic and international flights combined increased to 2,94,702 million kms in FY24 as compared to 2,60,488 million kms in FY23.
How will airport expansion contribute to passenger traffic growth in India?
Fleet expansions by major airlines and the expansion of airports shall also contribute to passenger traffic growth. Before 2016, the Indian airport sector functioned under the cost-plus and single-till system, which imposed a cap of 16% on investors' maximum return on capital investments.
How has the Indian airport sector evolved during the Amrit Kaal period?
This article examines the regulatory evolution of the Indian airport sector, forecasts for air passenger traffic, and transformative initiatives propelling the sector's expansion during the Amrit Kaal period. In FY23, air traffic in India rebounded vigorously, reaching 95% of pre-pandemic levels, demonstrating a V-shaped recovery for the sector.