CIAL Targets 10 Million Passengers In 2024 With Expansion

Cochin International Airport is the first greenfield airport built in India as a public-private partnership venture. It is also one of the first airports in the world that is fully powered by solar energy. The airport has also pioneered its initiative to produce Green Hydrogen in collaboration with Bharat Petroleum Corporation (BPCL), solidifying its position as the world’s first airport to advance its green initiative. Since its commercial operation on 10th June 1999, CIAL has grown at a rapid rate to become India’s 4th largest International Airport in India in terms of international passenger traffic in the last four years.

How Cochin International Airport Achieved Record-Breaking Passenger Numbers?

Chief Minister of Kerala and CIAL’s Chairman Pinarayi Vijayan hailed this achievement as a testament to CIAL’s dedication to infrastructure development and airport marketing. Looking forward, the management is forecasting 1 crore passengers to travel through CIAL in 2024 as well. To support this growth, the government has directed CIAL to prioritize the development of essential facilities. One of the interesting trends that has emerged from the CIAL passenger data is that there has been a surge in the number of domestic passengers as compared to international passengers.

Why the Surge in Passenger Numbers?

The surge in passenger numbers can be attributed to Kochi city in Kerala witnessing unprecedented growth in recent years. Kochi has become one of the biggest business hubs of Kerala due to the development of mega projects such as LNG Terminal and International Cargo Container Terminal etc. Moreover, the geographic location of Kochi becomes a connecting corridor for Middle-East countries like the UAE, Kuwait, Saudi, and Bahrain as well as for East-Asian countries such as Malaysia, Thailand, Singapore, Indonesia, etc. This makes Cochin International Airport located in Kochi, Kerala a gateway to the state’s tourism & a lucrative avenue for business sectors.

In 2023, the two-day G20 Science Engagement Group meeting on Universal Holistic Health took place in Bangaram Island, Lakshadweep under India’s G20 Presidency for the 2023 G20 New Delhi Summit. During this event, prominent figures from science and academia gathered in Lakshadweep. The CIAL terminal was used by several passengers and delegates who came from different parts of the world through chartered aircraft. In 2024, CIAL Business Jet Terminal also handled an impressive number of 120 flight services within two months and is anticipated to cross 1200 flight services by the end of the year.

What the future holds for Cochin International Airport Limited?

The Cochin International Airport (Ltd.) has announced its summer schedule which will remain in action from 31st March to 26th October 2024. Additionally, 1628 weekly operations will take place for the winter schedule in the same year. There are also discussions to include additional domestic services to Agatti, Hyderabad, and Bengaluru during the summer schedule that aligns with the increasing number of passenger preferences. Within this schedule, there are also talks to add 29 airlines, out of which 26 will operate internationally with Indigo topping the list with 49 international departures followed by Air India Express operations with 41 weekly departures.

66 weekly departures will be made to Abu Dhabi, 46 to Doha, and 45 to Dubai. Thai Airways has also started its tri-weekly luxury flights to Bangkok Suvarnabhumi Airport and Thai Lion Air will have daily flights to Bangkok Don Mueng Airport from CIAL. Other international flights include operations by Etihad, Akasa Air, SpiceJet, Jazeera, and Air India to destinations like Kuala Lumpur, Male, London-Gatwik, Kuwait, Saudi, UAE, and Jeddah.

The domestic flights in the CIAL's summer schedule include flights to cities like Bengaluru, Delhi, Mumbai, Hyderabad, Chennai, Agathi, Ahmedabad, Goa, Kannur, Kolkata, Pune, Thiruvananthapuram, and Salem.

CIAL is actively strategizing to prepare for accommodating its future growth by devising new route maps. There is a definite increase not only in the number of domestic flight services but also in terms of international flight services to many Gulf cities. There are underlying opportunities for CIAL to solidify Kochi’s status to become a key hub for air travel in South India.

Interested in Purchasing CIAL’s shares?

Since the airport is a private-public partnership, its shares are available in the unlisted market for purchase. The Cochin International Airport share price was last traded at Rs 290 per share. In 2022-2023, CIAL posted a net profit of Rs. 267.17 crores and declared its highest-ever dividend in the last 25 years, at 35%.

Through Stockify, you can gain early access to CIAL’s unlisted shares and capitalize on the potential valuation surges. Boasting steady growth in the aviation sector, investing in CIAL’s shares presents a promising opportunity for early investors. Connect to gain more.