Friday, November 10, 2006

CIAL to go ahead with 'Kerala Airways' project

Kochi: The director board of Cochin International Airport Ltd. (CIAL) on Thursday decided to pay a 10 per cent dividend to its shareholders for the financial year 2005-06.
The decision was taken at a board meeting held here under the chairmanship of Chief Minister V.S. Achuthanandan.
The board decided to continue its efforts for Kerala Airways,' an airline proposed by the State Government in association with the airport company, Fisheries Minister S. Sarma, who is also a director board member, said. The board of the airline company, set up as a subsidiary of the airport company, was reconstituted. The board chaired by the Chief Minister would have the Transport Minister, Managing Director of the airport company and a director board member as its members.
For the airline to be viable, it should have permission to operate in the Gulf sector. However, as per the existing guidelines, a start-up airline will have to operate domestic services for five years before staking claim to fly abroad. This, according to Mr. Sarma, is hampering the take off.
A delegation led by the Chief Minister will approach the Civil Aviation Ministry on the issue.
10/11/06 The Hindu
To Read the News in full at Source, Click the Headline


Post a Comment