Airports Authority of India (AAI) planning to aggressively tap overseas markets for its in-house developed 'e-billing' solution that can be used by air navigation and airport services providers.
The fees collected through this solution, which would help entities in data gathering, e-invoicing and collection of tariff from airlines at a single place, accounts for almost 35% in AAI overall revenue.
As part of its efforts to expand its revenue stream, the national airports operator is scouting for opportunities overseas to sell its niche product.
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Developed in-house, the electronic billing solution for data, e-invoicing and collection of tariff from the airlines is being used by AAI for several years now.
Considering its reliability and performance over a period of time, AAI is now looking to provide the system in overseas markets, AAI Member (Finance) S Suresh said told PTI.
AAI has already made a brief presentation to the aviation authorities of Cambodia and Indonesia. "They seem to be keen about it," he said.
Over the years, the system has been augmented to provide for a comprehensive e-billing system for data gathering, invoicing and collection in one place.
"This is also the first time that AAI will be pitching its product in overseas markets," Suresh noted.
Recently, AAI had entered into a preliminary pact with the International Air Transport Association (IATA) for providing a comprehensive e-billing solution to air navigation service providers and airport service providers for data gathering, e-invoicing and collection of tariff from airlines.
The airports operator expects to post an all-time high revenue of Rs 10,000 crore in the last financial year (2015- 16). During this period, the profit is anticipated to be around Rs 2,000 crore.
The estimated eight% growth in the topline which stood at Rs 9,285 crore in 2014-15 would be on the back of surge in passenger traffic and aircraft movement.
A "Miniratna' enterprise, AAI owns 125 airports in the country and out of them, 95 are operational.