To make Rs 3,000 crore in 10 years, Cochin airport to focus on three areas
The Cochin International Airport Ltd (CIAL) has been focusing to collect revenue of Rs. 3,000 crore in the next 10 years. To achieve the targeted revenue, CIAL has to focus on three major areas. According to them, target should be achieved by better and outstanding services to passengers, diversification of business activities and achieving self-reliance in power generation.
V J Kurien, Managing Director, CIAL, expressed the belief that the targeted revenue could be achieved by 2023 by successfully implementing various services through proper planning.
The Vision and Mission document focuses on 20 percent revenue through airline traffic, 30 per cent non- aero revenue by managing leased airports and 50 per cent non-aviation revenue by diversified activities such as airport consultancy, management and power generation. According to him, The Company has taken steps to manage the airports operated by the Airport Authority of India and diversification to other areas to increase revenue.
CIAL will be able to generate all the power required by it and is expected to become energy surplus by 2016 which is the first step toward achieving its target. Currently, the company requires around 50,000 units of power which will increase to 1.25 Lakh units with the formation of new international terminal. It also captures 4,100 units through solar panels. The work on the Rs. 850 crore new international terminals is progressing fast. In a fixed duration of time the work on the warehouse for the duty free shop and golf course will also be completed. In last financial year, the company collected revenue of Rs. 300 crore and a net profit of Rs. 111 crore.
Source: The Business Line
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