Cochin International Airport Limited

Cochin International Airport (COK), Airport Rd, Kochi, Kerala 683111, India
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Listing Description

Cochin International Airport, owned and operated by Cochin International Airport Limited (CIAL), is the first airport in India built under the Public Private Partnership (PPP). Remarkably, it is the world’s first fully solar-powered airport. Located 28 km northeast of downtown Kochi, it ranks as the third busiest for international passengers and seventh largest overall in India. As of 2022, Cochin Airport handles 61.8% of Kerala’s total air passenger movement. CIAL is a winner of the prestigious ‘ Champions of the Earth ‘ award instituted by the United Nations for its pioneering effort which showed the world that large power consumers like an airport can switch over to a sustainable utility model for their energy needs.

At present the total installed capacity of CIAL’s green energy initiatives is 50 MWp producing 200,000 units of power daily. The airport features three terminals, including India’s first charter gateway— an exclusive Business Jet Terminal.  For over 24 years of dedicated service, Cochin International Airport has seamlessly connected 31 countries, collaborating with 24 airlines and welcoming more than 10 million passengers annually to its world-class facilities. Despite not being publicly listed, the company has a robust foundation with 19,000 investors hailing from 28 countries, primarily expatriate Keralites. This diverse investor base has played a crucial role in nurturing the airport, a significant undertaking materialized by the State Government, which remains the largest investor with a stake of approximately 34%. Notably, the company has consistently paid dividends since 2003-04, with a cumulative payout reaching 317%.

The airport, featuring three terminals, collectively possesses a peak-hour handling capacity of 8,000 passengers.CIAL has already earned a well-deserved reputation for its operational efficiency and strict adherence to international standards. For the past four years, CIAL has been recognized as the “Best Airport” in the Asia-Pacific region by the Airports Council International (ACI) with 5 to 15 million passengers. The airport started its operation on 25th May 1999, and since then the traffic and revenue parameters have registered a steady growth. Being the founder Chairman, Sri. K. Karunakaran, former Chief Minister of Kerala was instrumental in the acutuation of the project. The pathbreaking idea of building an airport under the PPP model, that too for the first time in the country was put forward by Sri. V.J. Kurian IAS and his visionary leadership as the founder and Managing Director turned out to be decisive in materializing the project which was once disdained as a faux pas.

Hon. Chief Minister Sri. Pinarayi Vijayan is the current Chairman of the company whose guidance and administrative capabilities have been contributing to the stunning performance exhibited by the company in recent years. Sri. S.Suhas IAS assumed charge as the Managing Director in June 2021 and now is steering the vision of the company by implementing mega infrastructure development programmes and ensuring sustainable growth to all verticals. Owing to the financial restructuring and aggressive marketing implemented by the Board of Directors, the company has witnessed growth in both revenue and traffic. CIAL became the sole airport in the country during the post-pandemic year to register a profit. In 2021-22, the company logged a profit of Rs.37.68 crore and in 2022-23 the profit increased to Rs.267 crore. In its 24 years of operational history, it handled 10 million passengers in a calendar year in 2023.

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