TIA reports revenue surpassing Rs 11 billion in FY 2022-23

Kathmandu Airport

KATHMANDU: Tribhuvan International Airport (TIA), one of the busiest airports in air travel, has witnessed a notable surge in both domestic and international flight traffic, leading to a substantial increase in annual passenger numbers. The airport has reported a remarkable revenue of Rs 11.38 billion in the fiscal year 2022/23.

The financial success of TIA is attributed to various factors, including full operational capacity, increased international air traffic, and continuous efforts to enhance airport services.

Pratap Babu Tiwari, General Manager of TIA, highlighted that the airport generates revenue through diverse channels such as passenger service fees, terminal and hangar rentals, bus services, and aircraft landing fees.

In comparison, the airport faced a revenue decline in the fiscal year 2020/21, collecting Rs 2.46 billion, largely influenced by the impact of the Covid-19 pandemic. However, TIA is currently operating at full capacity post-pandemic.

For the current fiscal year, TIA has set a revenue target of Rs 13 billion and has already achieved Rs 6.76 billion in revenue to date. The steady increase in passenger numbers and air traffic has contributed significantly to the airport’s financial performance.

In 2023, a total of 86,91,443 passengers traveled through TIA, both domestically and internationally, reflecting a notable 9.2 percent increase from the previous year, which recorded 79,54,495 passengers.

The international segment witnessed a surge of 30.18 percent, reaching 45,41,137 passengers, while the domestic sector reached 41,50,326 passengers.

Before the Covid-19 pandemic, the airport recorded 71,90,912 air travelers in 2018, a figure that increased to 73,27,031 passengers in 2019, marking a 4.5 percent rise compared to pre-pandemic levels.

Currently, nine airlines and 12 helicopter companies operate at TIA, serving 31 destinations across 16 countries. Additionally, 30 air service companies, including three Nepali carriers, contribute to strengthening air connectivity.

Nepal has further enhanced its air connectivity through Air Service Agreements (ASAs) with 42 countries. The latest agreement, signed with Switzerland in February, underscores the country’s commitment to expanding its aviation network and fostering international collaborations.

As TIA continues to thrive as a pivotal hub, the airport’s financial resilience and passenger growth reflect a positive trajectory for Nepal’s aviation sector.

Fiscal Nepal |
Friday February 23, 2024, 12:00:09 PM |

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