Passenger traffic at GVK airports in Mumbai, Bangalore rises

Written by fe Bureau | Mumbai | Updated: Jul 23 2014, 05:31am hrs
GVK-run airports Mumbai International Airport Limited (MIAL) and Bangalore International Airport Limited (BIAL) recorded 6.7% and 7.3% increases in passenger traffic during the 2013-14 fiscal.

Passengers rose to 3.2 crore at MIAL, and 1.3 crore at BIAL, according to the companys annual report that was released recently. Both airports saw a substantial increase in air traffic movement (ATM), which stood at 2.6 lakh, up 6.6% year-on-year (y-o-y) for MIAL, and 1.19 lakh, up 12.7% y-o-y for BIAL. However, while cargo traffic at MIAL declined by 1.93%, to 3.4 metric tonnes (MT) during the last fiscal, BIAL registered a 7% y-o-y increase in its cargo traffic to 2.4 lakh during the same period. The creation of four new rapid exit taxiways is one of the factors which led to the shooting up of ATM at MIAL which further led to a passenger rise, said an MIAL official.

The slight decline in cargo traffic was due to certain consignments being stopped during the last fiscal, due to higher duty charges, the official added. While, MIAL reported a profit-after-tax (PAT) figure of R212.05 crore for the 2013-14 fiscal, BIALs PAT for FY 2013-14 fell to R67.21 crore from the R104.32 crore it posted during the previous year. BIALstraffic grew by 7% yoy in the fourth quarter and while PBT grew by 44% yoy, the entity (BIAL)reported a loss due to minimum alternate tax (MAT) reversal of R 90 crore, said a JP Morgan report on GVK Power & Infrastructure dated May 30, 2014.