Covid-19 impact: AAI likely to slip into red for first time in FY21

However, Miniratna firm won't cut planned capex of Rs 5,000 cr for FY21

The Covid-19 pandemic is likely to push the Airports Authority of India (AAI) — the only profit-making government-owned aviation entity — into losses in FY21, for the first time since its formation in 1995, officials said.

The quantum of loss will depend on the extent of the effect of the pandemic on traffic flow at airports.

In February 2009, it was granted “Miniratna Category 1 PSE” status by the Centre. In FY20, the AAI clocked a profit of over Rs 3,600 crore over revenue of around Rs 14,367 crore.

To counter the pandemic, air transport was suspended from March 25 till May 24