Supreme Court stays release of four convicts in Rajiv killing

Mumbai, Feb 9: Given the slow progress on the ongoing Rs 38,000-crore capacity expansion at the four largest metro airports, and also the surging traffic, the snaky queues will continue at least till 2023, warns a report.

The four largest airports -- New Delhi, Mumbai, Bengaluru and Hyderabad -- handle more than half of the traffic and are operating at 130 per cent of their installed capacity. These airports are under a record Rs 38,000-crore capex but the capacity will not come up before end-2023, says a Crisil report.

“With the dip in traffic growth largely behind, we expect congestion at the top four airports of New Delhi, Mumbai, Bengaluru and Hyderabad, which handle more than half of the load, to continue till about FY23,” says the report.

Already these airports are operating at over 130 percent of installed capacity, and the ongoing healthy traffic growth this operating rate is expected to rise further in the next 12 months.

“Operationalising of capacities in the following two fiscals will bring down utilisation levels albeit still high at over 90 per cent by fiscal 2023 and that is despite an unprecedented Rs 38,000 crore capex being undertaken by the operators of these airports over five fiscals 2020-24,” says the report.

Despite this unprecedented capex that is debt-funded, ratings are likely to be stable given the strong cash flows expected due to healthy traffic growth, low project risks associated with the capex and improving regulatory environment, notes the report.

“Capacity at these four airports will increase a cumulative 65 per cent to 228 million annually (from 138 million now) by fiscal 2023. However, traffic is expected to grow strong at up to 10 per cent per annum over the same period. Since additional capacities will become operational in phases only by fiscal 2023, high passenger growth will add to congestion till then,” warn the report.

High utilisation will ride on pent-up demand (accumulated in 2019 as traffic was impacted with the grounding of Jet Airways) and one-off issues with new aircraft of certain airlines.

Further impetus will also come from improving connectivity to lower-tier cities and reducing fare difference between air and rail. Increasing footfalls at airports provide a leg-up to non-aero streams such as advertising, rentals, food and beverage and parking, which comprise around half of the revenue of airports already.

These are expected to grow strongly at over 10-12 per cent, also supported by higher monetisation avenue coming along with current capex. The other half of revenue (aero revenue) is an entitlement approved by the regulator, providing a pre-determined, fixed return over the asset base and a pass-through of costs.

Aero revenue is also expected to get a bump up during fiscals 2022-24, when a new tariff order for airports is likely. Overall aggregate cash flows are likely to double by fiscal 2024 and provide a healthy cushion against servicing of debt contracted for capex, the report concludes.

Pune/Mumbai, Feb 21: A BJP youth wing leader from Pune on Thursday submitted a complaint application to the police against AIMIM leader Waris Pathan for his controversial remarks made recently in Karnataka.

Pathan has claimed he has been quoted out of context.

Parismal Deshpande, a BJYM worker, submitted the written application at the Deccan Gymkhana police station, demading action against Pathan for allegedly promoting enmity between different groups and outraging religious feelings of a community.

Deshpande, in his complaint stated, that Pathan reportedly said "15 crore hai lekin 100 crore pe bhari hai' (We are 15 crore but we can dominate 100 crore).

"The statement by Pathan promotes violence and create a divide between two communities.

"Because of such statements, there are possibilities of atmosphere getting vitiated. Hence, he should be booked under IPC sections 153A (promoting enmity between different groups, 295A (outraging religious feelings), and 504 (provoking breach of the peace)," Deshpande said in the complaint.

An officer from the Deccan police station confirmed receiving the application.

Meanwhile, in Mumbai, the BJP slammed Pathan.

The saffron party on Thursday tweeted @BJP4Maharashtra saying, "Waris Pathan, who are you threatening to? Shiv Sena led government may tolerate your comments; but BJP and people of Maharashtra will teach you a lesson that your hate- mongering speeches will be shut."

However, Pathan has issued a statement to the media, saying he has been quoted out of context.

"I hereby wish to state that the media reports on TV channels showing my statement made in the public meeting at Gulbarga five days back have totally quoted me out of context," Pathan claimed on late Thursday evening.

"I wish to reiterate that I can never say anything intentionally or unintentionally that hurts the sentiments of any caste, community or gender. I am a proud Indian and respects the plurality of this country," he said.

Jaipur, Mar 26: Two new COVID-19 positive cases were registered in Rajasthan taking the total number of coronavirus cases to 38 in the state.
The Union Health Ministry had on Wednesday reported 606 positive COVID-19 cases in India including 43 foreign nationals.