Wednesday, June 09, 2021

Cochin airport to augment non-aero revenues by 2030

Kochi:The Cochin International Airport Ltd (CIAL) aims to be the India’s first airport with zero landing/parking fees for airlines by 2030, said VJ Kurian, who stepped down as its MD on Wednesday after nearly 20 years at its helm. Kurian said the company’s vision is to expand non-aero revenue sources by 2030 so that the airport doesn’t need to collect landing or parking fees, which constitutes around 30% of current revenue from the airlines.

The plan is achieve it by implementing CIAL’s Land Utilization Plan (LUP), which aims to transform around 100 acres of unused land owned by the company along the National Highway into an airport city.

In the first phase, a restaurant hub will be created. Kurian said the matter was already under the consideration of the CIAL directors’ board and the company is hoping to achieve the target within nine years.

“CIAL has been making profit but the pandemic has had its impact on the revenue of the company. Covid has taught us a lesson that CIAL’s income should not be dependent on aero-revenue, which is depended on number of passengers. If the planned airport city becomes real with so many commercial establishments, it will be a major source of income for the company. The restaurant hub, which would feature outlets of all international food brands is one among them. CIAL is already a zero-user fee airport and it aims to be a zero-landing/parking fee airport by 2030. It will only increase the airport revenue as more airlines will be willing to use Kochi airport,” Kurian said.

Kurian said the company has proposed to offer 1 acre to the Thiruvananthapuram–Kasargod Semi High Speed Rail Corridor project and to construct a railway station.

“The proximity of airport to the rail will increase the number of air passengers as people from even Kasaragod will be ready to use Kochi airport. CIAL also plans to avail low-cost accommodation for passengers and crew in the T2 Terminal,” he said.

09/06/21 Anantha Narayanan K/Times of India

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