Nepal Civil Aviation Authority Records Remarkable Profit of NPR 3.49 Arba

In the last fiscal year, the Nepal Civil Aviation Authority achieved a noteworthy profit of NPR 3.49 Arba, announced Pradeep Adhikari, Director General of the Authority, during the 25th-anniversary program held on Sunday. The net operating profit, after deducting all expenses, reflects the authority's financial strength and efficient management.

Breaking down the financial highlights, Adhikari shared that the authority's income comprised NPR 11.72 Arba for educational purposes and NPR 1.78 Arba for non-educational purposes, totaling NPR 13.51 Arba. The allocation included NPR 7.44 Arba for capital expenditure, NPR 4.22 Arba for operating expenses, NPR 15.82 Arba for income tax, and additional expenses of NPR 4.15 Arba.

Highlighting the authority's growth over its 25-year existence, Adhikari noted a significant increase in air flights by 192%, accompanied by a 364% rise in the number of trips and a doubling of cargo volume.

In a testament to the aviation sector's resilience amid challenges, Adhikari shared that the authority's income skyrocketed from NPR 91.84 crore in the financial year 2056/57 to an impressive NPR 13.51 Arba in 2079-80. By the end of 2023, the number of domestic airports, including three international airports, had reached 55.

Despite the financial setbacks caused by the COVID-19 pandemic, the aviation sector, undergoing reforms, rebounded to its original state in 2022. By December 2023, the number of passengers on air flights had fully recovered, with 4154,393 passengers recorded from three international airports, marking a 41.04% increase compared to the same period in the previous year.

The data presented by Adhikari showcased a notable surge in domestic air travel, with a 37.48% increase in the total number of air passengers from November 2022 to November 2023, reaching 77 lakh 94 thousand 217.