The Cochin International Airport Ltd (CIAL) has chalked out an action plan targeting a revenue of ₹3,000 crore in the next 10 years.
A Vision and Mission document prepared by the consultants has lined up three core areas of activity to achieve the projected revenue.
According to them, this could be made possible by providing better and outstanding services to passengers, diversification of business activities and achieving self-reliance in power generation.
V J Kurien, Managing Director, CIAL, expressed the confidence that the targeted business revenue could be achieved by 2023 by successfully implementing various services through proper planning.
The Vision and Mission document eyes 20 per cent aero revenue through airline traffic, 30 per cent non- aero revenue by managing leased airports and 50 per cent non-aviation revenue by diversified activities such as airport consultancy, management and power generation. The company, according to him, has already taken steps to manage other airports operated by the Airport Authority of India and diversification to other areas to increase revenue.
CIAL will be able to generate all the power required by it and become energy neutral by 2016, the first step towards realising its target.
At present, the company requires around 50,000 units of power which will increase to 1.25 lakh units with the commissioning of the new international terminal. It is also tapping 4,100 units through solar panels.
The work on the ₹850 crore new international terminal is fast progressing.
Likewise, the work on the warehouse for the duty free shop and golf course will also be completed in the set time frame.
In the last financial year, the company generated a revenue of ₹300 crore and a net profit of ₹111 crore.