The Ministry of Aviation has recently shared a comprehensive breakdown of airport revenues with the National Assembly (NA), shedding light on the financial performance of key airports in Pakistan.
Impressive Earnings of Major Airports
In a written response from the aviation ministry, it was disclosed that Jinnah International Airport in Karachi recorded an impressive income of Rs. 40 billion over the past three fiscal years. Similarly, Allama Iqbal International Airport in Lahore secured a significant revenue of Rs. 44 billion, while Islamabad International Airport topped the list with an impressive Rs. 46 billion in earnings.
New Gwadar International Airport to Open Soon
The report from the aviation ministry also brought attention to the anticipated progress in the aviation landscape, announcing that the New Gwadar International Airport is set to become operational in December 2023.
Hurdles in Flight Operations to Europe and the UK
However, on a somber note, the aviation ministry acknowledged that direct flight operations to Europe and the United Kingdom (UK) are yet to resume. These operations were suspended in July 2020 due to a ban imposed by the European Union Aviation Safety Agency (EASA). The ministry did not provide a specific timeline for the resumption but affirmed its commitment to resolving the matter.
Focus on Existing Airports and Outsourcing for Growth
Addressing concerns about new airport construction, the ministry clarified that there are currently no plans for a new greenfield airport in Sindh and Balochistan. Instead, the focus remains on optimizing the performance and revenues of existing airports. To bolster revenues and enhance operational standards, the government has set its sights on outsourcing the management of Karachi, Lahore, and Islamabad airports. Despite this, the ownership of the airports’ properties will remain with the Civil Aviation Authority (CAA).
