Non-aeronautical revenues of airports may touch 54 pc by 2015
NEW DELHI: With the modernisation and development of airport space, the non-aeronautical revenues of airports in India may increase from the current 35 per cent to 54 per cent by 2015, says a study.
According to global consulted Cushman and Wakefield’s ‘Airport Realty Report’ around 78 million sqft of real estate space can be expected in commercial and hospitality segments in the country by 2015, with the modernisation and upgrading of the 47 airport projects.
“If the current privatisation trend continues and all airport projects under development, as specified in the 11th Plan, are modernised as per schedule, then non-aeronautical revenues might increase from the current 35 per cent to 54 per cent by 2015,” the report said.
It was estimated that rent from retail, office and hospitality space would constitute about 45 per cent of the total non-aeronautical revenue by 2015, and the rest of the income would be generated from sources like trading concessions and public admission fees besides miscellaneous income.
The 47 projects cover a total of approximately 40,000 acres of airport area, which include 40 brownfield and 7 greenfield projects across Tier I, II and III cities of India.
At a time when the global growth rate of the airport sector has been about 9 per cent per annum, India has seen an average annual growth rate of 35 per cent over a period of six years.
