Mumbai airport may 'incur losses in near future' due to Covid impact: MIAL

MIAL's net loss in FY22 would have been higher had it included the annual fee payment - which is 38.7 per cent of revenues - to Centre-run AAI under its head 'total expenditure' of the balance sheet

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The Mumbai airport handled 21.75 million passengers in FY22, which is significantly lower than its pre-pandemic peak of 48.83 million passengers in 2018-19

Deepak Patel New Delhi
The Mumbai airport, which is India’s second busiest, is likely to “incur losses in the near future” as its profitability has been severely impacted due to Covid-19, its operator Mumbai International Airport (MIAL) has stated in an internal assessment.

Adani Group-owned MIAL incurred a standalone net loss of Rs 177.17 crore in 2021-22 (FY22). By comparison, GMR Group-led Delhi International Airport, which manages India’s busiest airport in Delhi, incurred a standalone net profit of Rs 17.68 crore in FY22.

“The company (MIAL) may not have adequate profits during the next few years as company operations and profitability have been severely impacted due to the pandemic,” MIAL said in an internal document dated July 25, which has been reviewed by Business Standard.

First Published: Nov 20 2022 | 8:14 PM IST

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