When asked what was the one mega-project dream that they wanted to come true, most Keralites said they wanted an international airport to come up in their respective villages, according to a popular narrative that used to make the rounds in the early 1980s. With about 21 lakh expatriate Malayalees around the world, no one could blame the villagers for such extravagant dreams.
Since then, Kerala has added two international airports—one in Kozhikode in 1988 and another in Kochi in 1999—to the then lone facility, the Trivandrum International Airport. This Sunday, Kerala will open one more international airport in the northern district of Kannur. With that, Kerala will bestow upon itself the unique honour of being the only state with four international airports.
At 17.5 million passengers, the three airports in the state attracted the third highest number of aviation passengers after Indira Gandhi Airport, Delhi and Chhatrapati Shivaji Maharaj International Airport, Mumbai. Kannur is expected to add another 25 per cent to the existing traffic. The `1,892 crore Kannur International Airport Ltd follows the Cochin International Airport’s PPP model. The Kerala government holds 33 per cent of the stake, Bharat Petroleum Corporation Limited 22.54 per cent, Airports Authority of India 10 per cent and about 36 per cent is held by other investors.
Now, many ask if a fourth airport is financially viable, given Kerala’s size. The investors believe it is, as much of northern Kerala uses the airports in Bengaluru and Mangaluru. No wonder, prominent businessman Yusuffali, who is sitting pretty with a 10 per cent stake in Cochin Airport, had no qualms about picking up 5 per cent in Kannur. And most are betting big that Kannur would not cannibalise Calicut, Cochin and Trivandrum. It’s their hope Kerala’s aggregate air passengers would top 20 million in 2019.