THIRUVANANTHAPURAM: Keralam’s ambitious plan to launch its own domestic airline through the cooperative sector is zooming ahead with Rs 5 crore mobilised as share capital within a week of the registration of the cooperative society spearheading the initiative. If all necessary permissions, licences and clearances from the ministry of civil aviation (MoCA) and the directorate general of civil aviation (DGCA) are secured, plans are afoot to commence the first service during the next Onam season.
The newly registered Kerala Civil Aviation Development Cooperative Society is envisaged on the lines of the Cochin International Airport Limited’s (CIAL) public-private partnership model. Since its registration last Wednesday, the society has mobilised Rs 5 crore, with Rs 2.5 crore each coming from primary cooperative societies and individuals.
“This will be the world’s first airline service operating in the cooperative sector,” C N Vijayakrishnan, chairman of the Kerala Civil Aviation Development Cooperative Society, told TNIE. “Once we mobilise a share capital of Rs 50 crore, a public limited company can be registered. We have three names under consideration.”
Like CIAL, the chief minister will be the chairperson of the company, while the cooperative minister will be its vice-chairperson. Vijayakrishnan said the company would commence operations only after mobilising at least Rs 400 crore.
“We should be able to pay salaries to employees regularly. Even if all seats remain vacant, we will ensure that salaries and other amenities do not suffer for at least three years,” he said.
With Chief Minister V D Satheesan supporting the project, the state government is expected to take the steps necessary to facilitate the registration of the public limited company.
The proposed airline aims to improve regional air connectivity by operating services linking all four airports in Keralam -- Thiruvananthapuram, Kochi, Kozhikode and Kannur -- with major South Indian cities such as Mangaluru, Bengaluru, Chennai, Coimbatore and Madurai.