The Cochin International Airport (CIAL) has declared a dividend of 15 per cent for its shareholders during the last fiscal. This was announced by the CIAL Chairman and the state Chief Minister Mr Ommen Chandy at the 17th Annual General Meeting of the company held in Kochi today. Mr Ommen Chandy said the company Director Board meeting held this morning also approved the setting up of a new state-of the art international terminal at the airport. He said the long standing dispute between CIAL and HUDCO has in principle resolved, with HUDCO agreeing to waive penalty on the loan taken by CIAL. He said HUDCO has also dropped its demand for a share in the company.

The Cochin International Airport, the first green field airport in the country to be set up on a public-private partnership basis, achieved a total revenue of 245 crores during last fiscal, registering a growth of 16 per cent over the previous year. The profit after tax also increased by 16 per cent to 90 crore rupees. Passenger traffic also registered a growth of 10 per cent.