Cochin international airport profits touch Rs.60.32 crore

April 22nd, 2009 - 9:08 pm ICT by IANS  

Thiruvananthapuram, April 22 (IANS) Cochin International Airport Limited (CIAL) Wednesday announced a pre-tax profit of Rs.60.32 crore (Rs.603.2 million) for the fiscal year 2008-09.
Kerala Chief Minister V.S. Achuthanandan, who is also chairman of CIAL, after a meeting of the board of directors said the profit after tax has seen a sharp rise from Rs.47.12 crore (Rs.471.2 million) in 2007-08.

“The meeting also approved a budget for the current fiscal for Rs.207 crore (Rs.2.07 billion) and we foresee an expenditure of Rs.155 crore (Rs.1.55 billion),” he told reporters.

Achuthanandan also added that CIAL plans to set up a management academy in the current year.

According to the company’s website, CIAL had an annual passenger movement of over 2.6 million and 386 aircraft movements per week. Currently, 10 domestic and 16 international airlines operate from CIAL.

CIAL is the first airport outside the ambit of the Airports Authority of India and was formed as a public limited company with equity participation from the Kerala government, financial institutions and a large number of NRIs, many of whom are Malayalis based in the Middle East.

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