Cochin International Airport Reports Rs 1,014 crore revenue for FY 2023-24
By Aishwarya Nair | First Published Sep 5, 2024, 10:24 AM ISTCochin International Airport Limited (CIAL) reported a total income of Rs 1,014.21 crore for the 2023-24 financial year, marking a 31.6% increase from the previous year's Rs 770.91 crore.
Kochi: Cochin International Airport Limited (CIAL) has reported a total income of Rs 1,014.21 crore for the 2023-24 financial year, reflecting a 31.6% increase from the Rs 770.91 crore earned in the previous year. Cochin Airport is notable as the first greenfield airport established under the public-private partnership model.
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According to a CIAL press release on Wednesday (September 4, 2024), the airport operator's profit before tax rose to Rs 552.37 crore, up from Rs 357.30 crore, marking a 54.6 per cent increase. Net profit after tax also saw significant growth, reaching Rs 412.58 crore compared to Rs 267.17 crore in the previous year, reflecting an impressive growth of over 50 per cent.
CIAL authorities have announced plans for future development, which include a Rs 560 crore expansion of the international terminal, the construction of a Rs 162 crore commercial zone, and the extension of the domestic terminal. Kerala Chief Minister Pinarayi Vijayan inaugurated CIAL’s Aero Lounge 0484 on Sunday. This 50,000-square-foot facility offers a wide array of luxury and comfort services to both visitors and passengers at affordable rates. CIAL also stated that it is the largest facility of its kind in airports across the country.
Cochin International Airport has become one of the busiest in the country, handling over 10 million passengers annually. It operates 670 weekly flights to international destinations and 795 to domestic locations. The airport now connects Kochi by air to most major cities across India.
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