Cochin International Airport Ltd
Cochin International Airport is the first greenfield airport in the country built with a public-private partnership. Planned and constructed from scratch, the airport has been acclaimed for setting a novel idea in infrastructure development. The astonishing public participation, relentless support from NRIs and effective leadership have made CIAL, the company that built and operates the airport, an international brand. It’s also the first airport in the world fully powered by solar energy. Cochin International Airport Limited (CIAL) was the first airport in India to be built under Public Private Partnership (PPP), with equity participation from the airport users as well as the public, Non-Resident Indians (NRIs), Government of Kerala (GoK) and the airport service providers. Chief Minister (CM) of Kerala is the chairman of the company.
CIAL was incorporated on March 30, 1994 as a public limited company. The construction work commenced in August 1994 and achieved commercial operations in June 1999. To cater to the high traffic demand, CIAL constructed a new international terminal with a 12 mn passenger capacity per annum which was inaugurated in March 2017. The project cost for the same was Rs. 985 crore which was funded through external debt, rights issue and internal accruals. Government of Kerala (GoK) is the major shareholder in CIAL with 32.4% stake.
During the year under review, your Company was operating normally until the spread of Covid-19 pandemic all across the world. The financial year 2019-20 of CIAL ended with the beginning of a sharp impact of the COVID-19 pandemic followed by the successive lockdown of economic activities. The total revenue for the year ended 31.03.2020 was Rs.655.05 crores. During the FY 2019-20, the Company earned an operating profit of Rs.423.85 crores as against Rs.398.63 crores in the previous year 2018-19, registered a growth rate of 6.33%. The operating results of FY 2019-20 have narrowly escaped from the pitfalls of pandemic and lockdown but already set a challenge for the future years of the Company.
The domestic & international operations at Cochin Airport gradually declined during the Financial Year 2019-20 due to the cessation of the operations of Jet airways from Indian Skies and general slowdown in the economy, but substantial reduction in the traffic was reported during the month of March 2020 once travel restrictions to various countries were enforced. However, the suspension of International and Domestic operations by Government of India happened on 21st March 2020 onwards followed by imposition of country wide lockdown restrictions on 24th March 2020, which has virtually ceased the airport operations. Consequently, there was loss on aero and non-aeronautical revenues for the Financial Year 2019-20, however the overall revenue and performance of the Company on a full year basis remain intact.
|57||10||Cochin International Airport||Public Shareholding||258297550||0||2020-03-31|
|51||10||Cochin International Airport||Government of Kerala||124029206||0||2020-03-31|
|56||10||Cochin International Airport||C.V. Jacob||210271||0||2020-03-31|
|54||10||Cochin International Airport||Kerala Chamber of Commerce||37512||0||2020-03-31|
|52||10||Cochin International Airport||Kochi International Airport Society||175||0||2020-03-31|
|53||10||Cochin International Airport||Cochin Chambre of Commerce||25||0||2020-03-31|
|55||10||Cochin International Airport||Indian Chamber of commerce||10||0||2020-03-31|
Revenue & Margins
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Application of funds
|id||company_master_id||In The News||Date|
|51||10||Cochin International Airport hands over Rs 33.49 crore as dividend to state government||2021-01-25|
|52||10||CIAL gets global recognition||2021-03-11|
|53||10||CIAL, a success PPP model in airport infrastructure development: Pinarayi Vijayan||2020-09-06|