An air conditioning apparatus may include an outdoor unit through which a first fluid, such as refrigerant circulates, an indoor unit through which a second fluid, such as water circulates, a heat exchange device which is configured to connect the outdoor unit to the indoor unit and in which the first fluid and the second fluid are heat-exchanged with each other, first to third inner tubes configured to connect the outdoor unit to the heat exchange device, and a heat storage unit connected to the first to third inner tubes.