Sunday, September 9, 2012

NEWS | Kerala revives airline plan, eyes Gulf routes

The Cochin International Airport Limited (CIAL) has decided to revive Air Kerala, the budget airline project of the state which was shelved six years ago.
The CIAL board of directors which met in Kochi yesterday decided to incorporate a subsidiary with a paid-up capital of Rs2bn as a joint venture with the state government to operate flights on the Kerala-Gulf sector. The board also authorised its managing director V J Kurien to prepare a feasibility study.

The state government, the single largest shareholder of the company, decided to revive the project last year, following which Gulf-based Indian businessman Yusuffali M A resigned from the board of directors of Air India, which could be the most potential competitor of the new entity.
Addressing the annual general meeting of CIAL ahead of the board meeting, Chief Minister Oommen Chandy, who is also the company’s chairman, said he had sought the intervention of Prime Minister Manmohan Singh, who will be in Kochi to inaugurate the Emerging Kerala investor conference, to make the airline a reality.

SOURCE:http://avindia.blogspot.in/2012/09/kerala-revives-airline-plan-eyes-gulf.html

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