KOCHI: ‘Hey! Want to meet?’ ‘Sure, where?’ ‘Come to Kochi airport.’
Conversations like these will become common if all goes as per the Kochi airport’s plan. For the airport has several projects in the pipeline to turn the commercial space on its premises into a hangout place for the Gen Z, families and others.
“Talks are on for the overall transformation of the vacant space on the airport premises where people from outside can spend time. We are planning to pitch it as our commercial business, similar to the one at Bengaluru airport,” said a source.
Popularly called Quad, the commercial space in front of the Bengaluru airport is home to food and souvenir stalls and has scenic outdoor seating, making it a busy hangout spot on Friday evenings and weekends. Kochi airport has a similar plan, said officials, adding the aim is to boost the airport’s revenue from non-aero sector.
One of the projects is the business jet terminal, which will be inaugurated by Chief Minister Pinarayi Vijayan on December 10. Through such initiatives, the Cochin International Airport Ltd (CIAL) aims to generate 70% of its revenue from non-aero sources and 30% from the aero sector.
“We are adding new projects through which we can change the proportion of revenue generation. Post-pandemic, CIAL generated 60% revenue from aero and 40% from non-aero avenues. After incurring huge losses in the past two years, we are planning to generate 70% revenue from non-aero sectors and 30% from aero sectors,” CIAL managing director S Suhas told TNIE.
Airport looks to cash in on trickle-down effect
He sa id boosting the nonaero sector will have a trickledown effect. If emphasis is given to non-aero sources, more people will come to the airport, leading to a rise in operations. Meanwhile, CIAL will operate its upcoming business jet terminal operations on a revenue- sharing basis with Air India SATS.
“Air India SATS is the major shareholder and will operate the terminal on a revenue-sharing model. CIAL too has a good share. Once operational, the project’s entire cost can be recovered within three to four years,” Suhas said.
As per an Airport Authority of India’s report, chartered flights registered a year-onyear growth of 37% during April-January last fiscal, against the earlier 17%. “The terminal will integrate tourism, international summits and movement of individuals with high net worth. We intend to revolutionise chartered jet terminals by incorporating affordability in chartered flying in India,” Suhas said.