New Delhi [India], February 21 : The Airports Authority of India (AAI), a distinguished Mini Ratna Category - I Public Sector Enterprise, has attained an 'Excellent' rating for its performance in 2022-23, as per the Ministry of Civil Aviation.
The AAI announces its attainment of an 'Excellent' rating under the Memorandum of Understanding (MoU) for the fiscal year 2022-23.
According to a press release by AAI, the accomplishment is attributed to the leadership of Sanjeev Kumar, Chairman of AAI.
The Department of Public Enterprises has confirmed AAI's exceptional performance, awarding it a commendable score of 91.50 under the MoU, resulting in the coveted 'Excellent' rating.
This recognition comes as a testament to AAI's resilience and dedication, especially considering the challenges faced by the civil aviation industry during the COVID-19 pandemic.
Despite the adverse impacts of the pandemic, AAI demonstrated remarkable financial performance by generating a revenue of Rs 11,424 Crore from its operations during the fiscal year 2022-23.
Notably, AAI also achieved its highest-ever capital expenditure of Rs 5,175 Crore during the same period.
These investments were directed towards enhancing and expanding airport facilities, integrating advanced technologies, and optimizing operational efficiency.
The substantial capital expenditure has contributed to ensuring safer, more convenient, and seamless travel experiences for passengers across AAI-operated airports.
Moreover, the 'Excellent' rating attained by AAI for the MoU 2022-23 underscores its commitment to excellence and positions the organization for even greater achievements in the future.
The AAI expresses gratitude to its stakeholders and employees for their unwavering support and dedication, which have been instrumental in this remarkable accomplishment.
With this 'Excellent' rating, AAI remains steadfast in its pursuit of enhancing air connectivity, fostering economic growth, and elevating the aviation infrastructure landscape in India.
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