The Airports Authority of India (AAI) has achieved an impressive milestone by meeting its capital expenditure (capex) target for the first quarter of fiscal 2023-24. The AAI had set a capex target of Rs 4,000 crore for the entire fiscal year, with Rs 1,000 crore designated for the first quarter.

The AAI has spent its targeted Rs 1,000 crore on capex during the first quarter. The investment made by the AAI in Q1 is set to enhance airport infrastructure and improve the overall quality of services across India.

Among the private airport companies, Adani Airports, which manages seven airports; and GMR, which manages three airports, have committed capex of Rs 7,426 crore and Rs 2,832 crore, respectively for the current financial year.

Adani Airports set a target of Rs 1,386 crore in Q1 FY24, out of which it has managed to use Rs 1,285 crore. GMR set a target of Rs 1,321 crore, and spent Rs 1305 crore.

(Edited by : Shoma Bhattacharjee)