Management
Cochin airport is the first in India to be built in a public–private partnership and is owned by a public limited company called Cochin International Airport Limited, better known as CIAL, floated by the government of Kerala in 1994. The Government of Kerala holds 33.36% stake, making it single largest investor in the project. Indian Government Companies like Air India, BPCL, AAI holds 8.74% stake, while foreign companies like Abu Dhabi based Emke Group, the Oman based Galfar Group, UAE based Majeed Bukatara Trading holds 5.42% stake. Various Indian companies hold 8.57% stake, while Scheduled commercial banks like Federal Bank, SBT and Canara Bank holds 5.91%. Remaining 38.03% stake is held by more than 10,000 personal investors from 29 countries, mostly non resident Indians.
The company has decided to go for public offering and giving 10 million shares to HUDCO as part of debt settlement, which would lead HUDCO having 3.37% stake in the company and reduction of stake of other holders.
The Chief Minister of Kerala (Oommen Chandy at present) is the ex-officio chairman of CIAL. V J Kurian is the Managing Director of the company, appointed on 10 June 2011.
CIAL is one of the most profitable airports in the country. In last financial year 2010-2011, CIAL reported a profit after tax of 90.10 crore (US$16.4 million), with a gross income of 245.59 crore (US$44.7 million), with a sharp increase of 40% from previous year.
Read more about this topic: Cochin International Airport
Famous quotes containing the word management:
“This we take it is the grand characteristic of our age. By our skill in Mechanism, it has come to pass, that in the management of external things we excel all other ages; while in whatever respects the pure moral nature, in true dignity of soul and character, we are perhaps inferior to most civilised ages.”
—Thomas Carlyle (1795–1881)
“People have described me as a “management bishop” but I say to my critics, “Jesus was a management expert too.””
—George Carey (b. 1935)
“No officer should be required or permitted to take part in the management of political organizations, caucuses, conventions, or election campaigns. Their right to vote and to express their views on public questions, either orally or through the press, is not denied, provided it does not interfere with the discharge of their official duties. No assessment for political purposes on officers or subordinates should be allowed.”
—Rutherford Birchard Hayes (1822–1893)