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CIAL to float company to set up hangar

A Correspondent

Detailed project report on budget airline to be ready by November

NEDUMBASSERY: Cochin International Airport Limited (CIAL) will float a company by the name Kochi Aviation Services Limited for setting up an aircraft maintenance hangar as part of its land development plans, Kerala Chief Minister and chairman of CIAL Oommen Chandy said here on Saturday.

In his address after inaugurating the new arrival block of the international terminal, the Chief Minister said work on the project would begin this year. The CIAL would have 51 per cent share in the project. The remaining 49 per cent will be open for public issue. The decision was taken at the board meeting of the CIAL held in connection with the Annual General Meeting (AGM) on Saturday.

Mr. Chandy said approval in principle had been given for the budget airline proposed by the State Government in association with the CIAL. Ernst & Young, the consultant appointed by the airport company to draw up a detailed project report (DPR), is expected to submit its report in the first week of November, he said.

The AGM appointed a three-member sub-committee comprising V.J. Kurian, managing director of the CIAL, and directors M. A. Yousuf Ali and C.V. Jacob, to do the groundwork on the proposed budget airline.

The Chief Minister said the budget airline would be launched as soon as the approval of the Central Government was received.

He said apprehensions on the viability of the project were baseless.

The successful performance of the CIAL had given the Government confidence to go ahead with the project, Mr. Chandy said.

He said a sum of Rs.17 crores had sanctioned to the CIAL to take up ground handling work.

The Chief Minister said that in principle, approval had been given to extend the seaport airport road to Angamaly.

The Chief Minister praised the CIAL authorities for completing the construction of the new arrival block, which was one of the projects included in his 100-day programme, in a time-bound manner.

Completion of work within the specified time limit is vital for the success of any project, he said. He expressed confidence that the construction of the departure block would also be completed well in time, by April next.

Proclaiming the Cochin International Airport as the most successful investment venture of the State, Mr. Chandy said the airport company ranked third in the world in terms of balance between investment and profit.

Earlier, the Chief Minister inaugurated the 1.78-lakh sq.ft. new arrival block with state-of-the-art facilities, by lighting the traditional lamp and unveiling the plaque.

Industries Minister V. K. Ebrahim Kunju inaugurated the newly constructed apron capable of accommodating A-380, the biggest passenger aircraft.

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