In a first since 1995, the Airports Authority of India (AAI) will report a loss in the FY21 owing to the novel coronavirus.
The otherwise profit earning government-owned entity has taken a massive hit ever since the implementation of lockdowns and the suspension of air transport from March 25 till May 24.
Although flights have resumed, the fear of travel, quarantine rules and other precautionary measures have dampened the revenue of the AAI. The entity earned over Rs 3,600 crore profit in FY20, over revenue of around Rs 14, 637 crore, according to a report by the Business Standard.
Two metropolitan city airports – Delhi and Mumbai – pay fees to the AAI but had been unable to do so for three months. The Delhi International Airport began payments from August, but the Mumbai International Airport has moved courts citing force majeure for the entire year.