Air Kerala to raise Rs 200 cr as initial capital

Kochi: The proposed state-run airline 'Air Kerala' plans to raise Rs 200 crore through equity as initial capital, Cochin International Airport Ltd (CIAL) Managing Director V J Kurien said today.
While 26 per cent shares will be held by the state government, CIAL and public sector undertakings, the remaining 74 per cent will be held by shareholders.
This was decided by board of directors of Air Kerala, which met here under the chairmanship of Chief Minister Oommen Chandy.
The strength of the board has been raised to eight by co-opting four new members into the board – Industries Minister P K Kunhalikutty, Finance Minister K M Mani, Information Minister K C Joseph and Fisheries Minister K Babu.
The four-members already in the board were the Chief Minister, prominent businessmen Yusuf Ali and C V Jacob, and CIAL's Kurien.
14/09/12 Financial Express

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Categories: Indian Aviation- In General Sep 2012, New Sep 2012