DIAL's FY26 turnaround is built on retail and F&B, not flights. Non-aero now drives 81% of net income, with retail up 9% and F&B up 18% even as air traffic slipped 1%. Spend per passenger reached ₹1,063, validating GMR's 'mall in an airport' play ahead of Aerocity expansion.

Mint · Industry · 5/29/2026, 11:29:48 AM