Bengaluru airport achieves AAA credit rating; expansion plans to boost capacity to 80 million passengers by 2029

Published On : 2024-11-20T16:27:08+0530 [ IST ] | Author : Mayur_Tembhare
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Kempegowda International Airport (BLR Airport) in Bengaluru has received a prestigious AAA credit rating reflecting its strong financial standing and minimal credit risk.BANGALURU:Bangalore International Airport Limited(BIAL), the operator of Kempegowda International Airport(BLR Airport) achieved the coveted AAA credit rating with a stable outlook from leading agencies ICRA Ltd

BIAL's achievement underscores its status as the third-largest airport in India and the largest in South India with an annual passenger handling capacity of 51.5 million. The AAA rating reflects BIAL's robust market position and financial strength supported by steady growth in passenger traffic and

Passenger traffic at KIA is projected to grow by 10-11% in FY2025 reaching approximately 41-42 million passengers up from 37.5 million in FY2024. BIAL’s operating income is also expected to increase by 20% in

The airport’s long-term concession agreement, extended until 2068 provides significant financial stability and flexibility. Additionally its strategic ownership structure with Fairfax Group holding a 64% stake, Siemens 10% and the Airports Authority of India and the govt of Karnataka each holding 13% enhances its operational and

To meet the growing demand BIAL has outlined an ambitious investment plan of approximately Rs 16,000 crore between FY2025 and FY2029. This will focus on expanding Terminal 2, upgrading infrastructure and other major projects aiming to increase the airport's capacity to 80 million passengers annually.

Source : Reporters From Sunrise Chronicles

Tags : Passenger , Additionally , financialholding 13 %, enhances , Ltd , indiaoperator ofkempegowda international airport , Fairfax Group , To , creditcoveted aaa credit rating , India , Siemens ,

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