Cochin International Airport Limited (CIAL) wants to improve the passenger experience. It’s doing so by stepping up its game and expanding its service. CIAL has been actively growing its services and facilities to meet the growing demand for domestic flights. Its strategic location as the midpoint of the East and West makes the airport a popular hub for fuel layover stops.
What led CIAL Ltd to expand its services?
In 2024, CIAL saw a massive increase in domestic passenger traffic as compared to international passengers. Domestic passengers now comprise around 55% of the total passengers. CIAL expects a 20% growth in domestic passengers for the fiscal year.
This led the authorities to increase the scope of services at the airport to accommodate the expected demand. Hence, it is gearing up to manage the inflow of travelers and enhance their overall experience.
Infrastructure Development and Expansion Projects
CIAL’s ambitious expansion plans in 2024 include developing key infrastructure projects such as introducing 8 new aerobridges in addition to the existing 15 aerobridges. This will improve accessibility and convenience for passengers.
Projects like the Import Cargo Terminal, full-body scanners, and DigiYatra facial recognition systems are in progress to improve security checks and passenger experience. CIAL is also investing in infrastructure development. This includes the construction of a new international terminal designed to handle 4,000 passengers per hour.
This International Terminal, T3, focuses on adding 15 lakh square feet to the flight line area and 5 lakh square feet to the terminal building.
CIAL is further investing in renewable energy by commissioning a 12-MW solar project to reduce the airport’s power bills. This also makes them the first airport company globally to operate fully on solar energy.
Cochin International Airport Limited (CIAL) is expanding its domestic network by adding six new cities – Surat, Jaipur, Udaipur, Bhopal, Jabalpur, and Rajkot. This move comes as part of CIAL’s broader expansion plans to enhance connectivity and serve the growing demand for air travel in India.
Operational Milestones and Growth
- In FY 2023-24, CIAL achieved remarkable revenue and operational performance milestones. The airport recorded an all-time high passenger footfall. More than 1 crore passengers flew to and from various destinations via CIAL. As a result, the revenue increased to 525 Crores highlighting the airport’s growth and operational excellence.
- They implemented also implemented the summer timetable on March 31. There was an increase of approximately 60 flights compared to the previous schedule totalling to 1,628 weekly services. The additional flights started in the first week of May.
- CIAL entered into a strategic agreement with Taj Group to operate a luxurious five-star hotel within the airport premises. This move proves CIAL’s commitment to providing world-class amenities. It aims to enhance passenger comfort and boost the overall airport experience.
- Furthermore, CIAL is focusing on developing commercial zones, transit accommodations, and entertainment facilities to create an engaging and relaxing environment for travelers.
CIAL’s Financial Performance
Cochin International Airport Limited (CIAL) had a great financial year in 2023-24. It earned ₹267.17 crore in profit. CIAL also had high overall earnings. It made ₹770.90 crore in revenue and ₹521.50 crore in operating profit. Its strong financial performance shows that it is focused on growth and sustainability in the aviation industry.
With the current developments and growth events, investors have a timely opportunity to invest and gain through Cochin International Airport share price
If you are interested in buying Cochin International Airport Limited unlisted shares, Stockify provides a secure way to invest in this promising opportunity. With a focus on simplifying the investment process and providing valuable insights, Stockify offers a reliable solution for investors looking to capitalize on the growth potential in unlisted shares.
Connect with the team here to learn more.
