AASL declares record-breaking revenue  of Rs. 28.5 Bn. with 57% increase from Jan. to Sept.

Airport and Aviation Services (Private) Limited has again shown its resilience by earning a revenue of Rs. 28.5 billion (unaudited) during the period of January 1 to September 30, 2023. This is an increase of 57% compared with the same period in 2022.

Major General (Rtd.) G.A. Chandrasiri, (Pictured) Chairman of AASL stated that this remarkable achievement shows that AASL has shown the company’s commitment towards operating the organization in a profitable way setting an example to other state-owned enterprises in Sri Lanka too. ‘We paid Rs. 5 billion in the form of dividends to the government of Sri Lanka in the year 2023.”

“We have shown our resilience as a very strong state-owned enterprise. We aim for a record-breaking year by the end of December 2023”.

In 2023, up to September 30, 2023, AASL staged a remarkable recovery, with 33,950 flight movements up to the month of September. Sri Lanka airports welcomed 5,523,893 passengers, nearly returning to pre-pandemic levels.

Handling a remarkable 117,117 metric tons of cargo, the company facilitated trade and connected Sri Lanka to the global marketplace and 1,442,411 visitors graced the airports.

The company’s total gross revenue reached a substantial Rs. 28,583 million, with a phenomenal 57% increase compared to the previous year, driven by soaring aeronautical and non-aeronautical revenue sources.

Aeronautical Revenue surged by 30%, amounting to Rs 5,621 million, while Non-Aeronautical Revenue skyrocketed by an incredible 66%, totaling LKR 22,962 million, highlighting a strategic diversification approach.

With an operational profit of LKR 15,898 million, showing a staggering 103% increase, the company demonstrated the efficacy of its cost management and revenue growth strategies. Moreover, a net finance income of LKR 14,305 million and a profit before tax of LKR 30,203 million, a 373% increase.

The profit after tax amounted to LKR 25,342 million, reflecting a remarkable 297% increase, indicating the company’s financial stability and robust growth.

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