Revenue generation by Civil Aviation Authority of Nepal (CAAN) has increased by 16.67 per cent in the previous fiscal year 2021/22. The CAAN has made an income of Rs 7.44 billion in the fiscal year, along with a rise in airport fees.
CAAN Spokesperson Jagannath Niraula said the CAAN became successful to increase its income from airport fees including landing, parking and navigation. It had projected an income of Rs 6.68 billion in the last fiscal year, he added.
Out of Rs 43.67 billion budget allocated in the last fiscal year, only Rs 21.32 billion was spent, according to CAAN. Overall, the CAAN made 48.81 per cent financial progress in the fiscal year 2021/22.
In the budget and programme released by the CAAN for the fiscal year 2022/23, priority has been given to airport infrastructure development, airport operation, institutional reform of CAAN, strengthening aviation and air safety, human resources development and non-aviation income.
The CAAN has allocated a budget of Rs 41.85 billion for the fiscal year 2022/23 while it was Rs 43.67 billion in the last fiscal year.