In order to match the emerging requirement in the aviation sector of the region, GMR Hyderabad International Airport Ltd has decided the expansion of greenfield airport from current passenger handling capacity of 12 million passengers per annum to 20 mppa, at an investment of Rs.2,500 crore. The airport is already functioning at more than its capacity to handle about a million passengers a month with 2016 witnessed over 15 million passengers, registering a growth of over 20% in a calendar year. There is also the possibility of the Airports Economic Regulatory Authority enforcing the new cargo charges from October 2017. This will possibly mean higher revenues, India Ratings Associate Director Siva Subramanian recently said in a media statement. The credit rating upgrade to stable reflects higher than expected growth of 22% during financial year 2017 in passenger volumes and also there are indicators to point that the growth is likely to sustain the current level in future as well, said sources.
📅Published on:
24 May 2017
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