Tag Archives: tax

AAI sees over 15% growth in revenues, 22% rise in profits for FY16-17

The Airports Authority of India (AAI) has registered growth of more than 15% and 22% in its revenues and profits after tax, respectively in the financial year 2016-17 as compared to the financial year 2015-16. While its traditional businesses have grown at a healthy rate, growth in the new businesses and new markets also contributed to its revenues, according to AAI annual report 2016-17. The major factors for hike in revenue are increase in route navigational charges and terminal landing charges; increase in landing, housing and parking charges; increase in passenger service fee; increase in other revenue like trading concession, rent and services, cargo, UDF and other miscellaneous revenue, and increase in share of revenue from Delhi International Airport Limited (DIAL) & Chhatrapati Shivaji International Airport (MIAL).

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New tax on all Dubai fliers, including transit

Dubai has introduced a tax on travellers to help finance expansion. The AED35 ($9.50) fee will apply to all passengers, including those transiting in Dubai, on all flights from June 30, according to a statement carried by WAM state news agency. It is the first time Dubai has announced a passenger tax, which is imposed in many airports worldwide. More than 78 million passengers passed through Dubai International in 2015, keeping its place as the world’s busiest for international passengers since overtaking London Heathrow in 2014. Last month, Dubai Airports increased the capacity of its main airport to 90 million passengers with the opening of concourse D, at a cost of $1.2 billion. Dubai has a smaller second airport, Al-Maktoum International, which opened in 2013 and will receive 120 million passengers a year once completed. The receipts of the new tax will be channeled into funding the expansion of Dubai airports, the statement said. Situated on transcontinental air routes, Dubai is one of several Gulf-based airports to experience prodigious growth in recent years. Around 100 airlines fly to more than 240 destinations from the international hub, which is also home to carrier Emirates.

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