TIA collects over Rs 11 billion in revenue in FY 2022/23

Published On: February 22, 2024 05:35 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Feb 22: The Tribhuvan International Airport (TIA), one of the busiest airports in terms of air travel, has experienced a steady rise in domestic and international flight traffic, leading to an increase in the number of passengers using its services each year. The TIA has reported an increase in revenue surpassing Rs 11 billion in the last fiscal year 2022/23.

According to the TIA, in the last fiscal year 2022/23, the airport collected Rs 11.38 billion in revenue. With a revenue target set at Rs 13 billion in the current year, the TIA has mentioned that it has raised 6.76 billion in revenue till date.

Pratap Babu Tiwari, General Manager of the TIA, mentioned that this financial success of the airport is due to full operational capacity, increased international air traffic, and continuous efforts to enhance airport services. The TIA generates revenue from various sources, including passenger service fees, terminal and hangar rentals, bus service and aircraft landing fees.

In the fiscal year 2020/21, the TIA collected Rs 2.46 billion in revenue. It was said that the revenue declined that year due to the Covid-19 pandemic. However, the TIA is currently operating at full capacity post-Covid-19 pandemic.

The number of air passengers at the TIA has been on the rise. According to TIA data, a total of 86,91,443 passengers traveled by air in 2023, both domestically and internationally. This figure represents a 9.2 percent increase from the previous year, when 79,54,495 passengers were recorded.

In the span of one year, the number of international air travelers reached 45,41,137, marking an increase of 30.18 percent compared to the previous year. Additionally, the number of domestic air travelers has reached 41,50,326.

Before the Covid-19 pandemic, the number of air travelers stood at 71,90,912 in 2018 and increased to 73,27,031 passengers in 2019. According to the TIA, this figure represents a 4.5 percent increase compared to the pre-pandemic numbers of 2018.

Nine airlines and 12 helicopter companies are currently operating at the airport. Additionally, 30 air service companies, including three Nepali carriers are serving 31 destinations across 16 countries.

Nepal has also strengthened its air connectivity through Air Service Agreements (ASAs) with 42 countries, with the latest agreement signed with Switzerland in February.