With the Kannur airport set to become fully functional on January 15 next year when the first aircraft touches down, Kerala will reportedly become the only state in the country to have four international airports.
According to reports, the touchdown was originally planned for Dec 31 but had to be delayed due to incessant rains.
The state government has a 35% stake in the Kannur airport with the remaining shares divided between the Airport Authority of India, the Bharat Petroleum Corporation Limited and 3,000 individual equity holders. Airport officials are confident of breaking even in the next five years, after which dividends will be paid.
After twenty years, all investors would reportedly get all their money back. Incidentally, the Cochin International Airport which opened in 1999 and is also India’s first airport to be built on the public-private partnership model has been profitable since 2003-04.