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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.

New Delhi, Mar 5: Union Health Minister Harsh Vardhan assuring that the government has the coronavirus crisis under control, is like the Titanic captain telling passengers not to panic as his ship was unsinkable, Congress leader Rahul Gandhi said on Thursday.

Gandhi's remarks came after Vardhan's assurance in Parliament that the government is taking all necessary measures to prevent the spread of COVID-19 (coronavirus disease) in India.

“The health minister saying that the Indian government has the coronavirus crisis under control, is like the Captain of the Titanic telling passengers not to panic as his ship was unsinkable,” Gandhi said in a tweet.

“It's time the government made public an action plan backed by solid resources to tackle this crisis,” he said.

RMS Titanic was a British passenger liner that sank in the North Atlantic Ocean in the early morning hours of April 15, 1912, after striking an iceberg during her maiden voyage from Southampton to New York.

Gandhi has been raising concerns over the coronavirus infection since long. In a February 12 tweet, he had said coronavirus is an extremely serious threat to “our people and our economy”.

“My sense is the government is not taking this threat seriously. Timely action is critical,” he had said.

Earlier this week, Gandhi had hit out at Prime Minister Narendra Modi over the detection of fresh coronavirus cases in the country, saying he should quit wasting India's time “playing the clown” with his social media accounts when India is facing an emergency.

With the message of “Here's how it's done”, Gandhi had also tweeted a video of Singaporean Prime Minister Lee Hsien Loong addressing Singaporeans on how to deal with the coronavirus.

The number of coronavirus cases in India is 29, including 16 Italians, the government had said on Wednesday, adding all international passengers will now be screened at airports, amid growing concern over the spread of the respiratory infection.

New Delhi, Jun 13: Ten days after recording two lakh COVID-19 cases, India surpassed the three lakh-mark on Saturday with the worst daily spike of 11,458 infections, while the death toll too climbed to 8,884 with 386 new fatalities, the Union Health Ministry said.

India took 64 days to cross the 1 lakh-mark from 100 cases, then in another fortnight it reached the grim milestone of two lakh cases. It has now become the fourth worst-hit nation by the pandemic with a caseload of 3,08,993, according to coronavirus statistics website Worldometer.

However, the Health Ministry said on Friday the doubling time of coronavirus cases has improved to 17.4 days from 15.4 days. And its data updated at 8 am on Saturday showed active cases at 1,45,779 and those who have recovered at 1,54,329; one patient has migrated.

"Thus, around 49.9 per cent patients have recovered so far," a ministry official said.

The total number of confirmed cases include foreigners.

Of the 386 new deaths, Delhi accounted for the highest 129 fatalities followed by Maharashtra 127. The virus is moving rapidly in Delhi, which for the first time reported over 2,000 cases on Friday, and Maharashtra, where the number of cases has crossed one lakh.

Gujarat reported 30 deaths, Uttar Pradesh 20, Tamil Nadu 18, West Bengal, Telangana and Madhya Pradesh 9 each, Karnataka and Rajasthan 7 each, Haryana and Uttarakhand 6 each, Punjab 4, Assam 2, Kerala, Jammu and Kashmir and Odisha 1 each.

Of the total 8,884 deaths, Maharashtra tops the tally with 3,717 fatalities followed by Gujarat with 1,415, Delhi with 1,214, West Bengal with 451, Madhya Pradesh with 440, Tamil Nadu with 367, Uttar Pradesh with 365, Rajasthan with 272 and Telangana with 174 deaths.

The death toll reached 80 in Andhra Pradesh, 79 in Karnataka, 70 in Haryana and 63 in Punjab. Jammu and Kashmir has reported 53 COVID-19 fatalities, Bihar 36 and Uttarakhand 21, Kerala 19, Odisha 10 and Jharkhand and Assam 8 each.

Chhattisgarh and Himachal Pradesh have registered 6 deaths each, Chandigarh 5, Puducherry 2, while Meghalaya, Tripura and Ladakh 1 each, according to the health ministry.

Maharashtra has reported the maximum number of cases at 1,01,141 followed by Tamil Nadu (40,698), Delhi (36,824), Gujarat (22,527), Uttar Pradesh (12,616), Rajasthan (12,068) and Madhya Pradesh (10,443).

The number of COVID-19 cases has gone up to 10,244 in West Bengal, 6,516 in Karnataka, 6,334 in Haryana and 6,103 in Bihar. It has risen to 5,680 in Andhra Pradesh, 4,730 in Jammu and Kashmir, 4,484 in Telangana and 3,498 in Odisha and Assam each.

Punjab has reported 2,986 cases while Kerala has 2,322 cases.

A total of 1,724 people have been infected by the virus in Uttarakhand, 1,617 in Jharkhand, 1,424 in Chhattisgarh, 961 in Tripura, 486 in Himachal Pradesh, 463 in Goa, 385 from Manipur and 334 in Chandigarh.

Ladakh has registered 239 COVID-19 cases, Puducherry 157, Nagaland 156, Mizoram 104, Arunachal Pradesh 67, Sikkim 63, Meghalaya 44 while Andaman and Nicobar Islands has registered 38 cases.

Dadar and Nagar Haveli and Daman and Diu together have reported 30 cases.

The ministry said 7,984 cases are being reassigned to states and "our figures are being reconciled with the ICMR". State-wise distribution is subject to further verification and reconciliation, it added.