CAAN’s 25th anniversary celebrated with Rs 13.51 billion income

KATHMANDU: The Civil Aviation Authority of Nepal (CAAN) reported a net operating profit of Rs 3.4915 billion in the previous fiscal year, as announced by Pradeep Adhikari, the Director General, during the 25th-anniversary program held on Sunday.

Adhikari revealed that CAAN’s total income reached Rs 13.513 billion, with Rs 11.7217 billion generated from aeronautical services and activities, and Rs 1.7886 billion from non-aeronautical services and activities. Expenditures amounted to Rs 15.8283 billion, distributed among capital expenditure (Rs 7.4438 billion), operating expenses (Rs 4.2299 billion), and income tax, among other expenses (Rs 4.155 billion).

Highlighting the growth of the aviation sector, Adhikari stated that over the past 25 years, air flights surged by 192 percent, while the number of trips and cargo increased by 364 percent and 100 percent, respectively.

Comparing fiscal years, he noted that CAAN’s income rose significantly from Rs 918.4 million in 1999/2000 to Rs 13.51 billion in 2022/23. Additionally, the number of domestic airports expanded to 55, including three international airports, with projections for further growth by the end of 2023.

Adhikari acknowledged the aviation sector’s resilience following the financial challenges posed by the Covid-19 pandemic, citing a return to its pre-pandemic state in 2022 after undergoing necessary reforms. He highlighted the recovery of passenger numbers by December 2023, emphasizing that international air travel from Tribhuvan and Bhairahawa airports witnessed a notable increase from 2,945,540 passengers in November 2022 to 4,154,393 passengers in November 2023.

The Director General presented data indicating a remarkable 41.04 percent year-on-year increase in the number of passengers, with domestic flights experiencing a 37.48 percent rise from 5,668,941 passengers in November 2022 to 7,794,217 passengers in November 2023.

Fiscal Nepal |
Sunday December 31, 2023, 06:43:54 PM |

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