New Delhi, May 12 -- Capital expenditure at small private airports- nearly half of the overall upcoming private airport capex - will be up 50-60 per cent on an average in the fiscals 2026-2028 compared with previous three fiscal years, according to Crisil Ratings.

The rating agency asserted that this will be driven by capacity expansion due to substantial increase in terminal utilisation levels.

Capital expenditure, or capex, is used to set up long-term physical or fixed assets.

On the other hand, capex at large private airports - remaining half of the overall upcoming private airport capex - will see a decline during the same period as much of the capacity expansion has been completed or is nearing completion.

Net-net, the overall ca...