Adani Airport Holdings handles over 1 million tonnes of cargo in FY24, achieves impressive 7% YoY growth 

Adani Airport Holdings Limited (AAHL) registered a milestone of handling one million tonnes of air cargo in fiscal year 2023-2024. AAHL facilitated the transport of 10,13,115 metric tonnes of cargo in FY 2023-24, capturing an impressive 30.1 percent market share, Adani Enterprises said in a filing to the exchanges.

This represents a significant 7 percent year-on-year (YoY) increase compared to the previous fiscal when the total cargo tonnage was 9,44,912 metric tonnes.

In FY24, AAHL’s cargo operations were predominantly international at 65 percent. The international cargo tonnage amounted to 6,62,258 metric tonnes, recording a notable 9 percent YoY growth compared to the previous fiscal's 6,06,348 metric tonnes, according to the filing.

Arun Bansal, CEO of AAHL, said, “At Adani Airport Holdings Limited, we have been consistently setting new benchmarks for operational efficiency. The cargo terminals have achieved a remarkable milestone, handling over 1 million tonnes this fiscal year. This achievement solidifies our position as key facilitators in both international and domestic airfreight operations in India.”

The cargo operations were driven by commodities, including automobiles, pharmaceuticals, perishables, electricals/electronics, and engineering goods.

They were efficiently handled across the Chhatrapati Shivaji Maharaj International Airport (Mumbai), the Sardar Vallabhbhai Patel International Airport (Ahmedabad), the Chaudhary Charan Singh International Airport (Lucknow), the Thiruvananthapuram International Airport, the Mangaluru International Airport, the Lokpriya Gopinath Bordoloi International Airport (Guwahati) and the Jaipur International Airport.

The major international destinations for cargo were Germany, Netherlands, United Arab Emirates, United Kingdom and the United States.

AAHL was incorporated in 2019 as a 100 percent subsidiary of Adani Enterprises, the flagship company of the Adani Group. AAHL also holds 74 percent stake in Mumbai International Airport Ltd, which in turn holds 74 percent stake in Navi Mumbai International Airport Ltd.

With eight airports in its management and development portfolio, AAHL is India's largest airport infrastructure company, accounting for 23 percent of passenger footfalls and 30 percent of India’s air cargo traffic.