September 19, 2017
Kozhikode: The country’s first private-public airport venture Cochin International Airport Ltd (CIAL) has posted a gross profit of Rs 669.09 crore during 2016-17.
The board decided to give 25 per cent dividend to shareholders.
The airport, funded by about 10,000 NRIs from 30,000 countries, saw a jump in traffic by 15.06 per cent. The airport, the world’s first solar- powered one, handled 89.4 lakh passengers.
Chief Minister Pinarayi Vijayan, who is also the chairman of CIAL, told shareholders that it was not a position yet to move towards going for an Initial Public Offering.
At the 23rd annual general body meeting, he said CIAL was also not in a position to issue bonus shares and increase dividend.
It would work towards operating services to all foreign destinations. The State was serious about starting its own air service, he added.
Pinarayi said the shareholders of could not be given special preference at the airport where the management was bound to follow International norms.