Hyderabad Airport Expansion Nears 99.4%, Set to Accommodate 34 Million Passengers

Robust Q3FY24 Performance Revealed in Rajiv Gandhi International Airport Report – Hyderabad Airport Expansion

Hyderabad, January 26, 2024 – The ongoing expansion works at Rajiv Gandhi International Airport (RGIA) are approaching completion, reaching an impressive 99.4% progress as of January 25, 2024. According to the Q3FY24 report by GMR Airports Infrastructure Limited, the expansion project, initiated to increase the airport’s capacity from 12 million to 34 million passengers, is expected to conclude by March 2024.

The report highlights the substantial growth in passenger traffic during Q3FY24, with an outstanding 17% year-on-year increase, reaching 6.3 million passengers. This surge was driven by a remarkable 16% rise in domestic traffic and a substantial 22% increase in international traffic.

On a broader scale, the airport has handled a commendable 18.6 million passengers in the first nine months of FY24, reflecting a remarkable 21% year-on-year growth. In terms of financials, RGIA reported a total income of Rs 496 crore in Q3FY24, indicating a substantial 35% YoY increase.

In her interim budget speech for 2024-25, Finance Minister Nirmala Sitharaman emphasized the government’s commitment to airport infrastructure development. She outlined steps taken to enhance air connectivity in non-metro areas and ease international air trade. The expansion of existing airports and the extension of the UDAN scheme for regional connectivity will remain key focuses, contributing to tourism and overall development.

Indian carriers have played a significant role in the global aviation ecosystem, placing substantial aircraft orders since 2023. The Tata Group-backed Air India ordered 470 aircraft, including 400 narrow-body and 70 wide-body aircraft. IndiGo, India’s largest airline, increased its orderbook to over 900 aircraft by placing an order for 500 narrow-body aircraft in June 2023. Akasa Air, the youngest airline in India, made headlines in 2024 by ordering 150 aircraft at the Wings Air Show in Hyderabad last month.