Air Kerala is a new airline proposed by the operator of Kochi International Airport, Cochin International Airport Limited, with its objective being to provide a budget airline service to non-resident Keralites working in the Gulf Corporation Council countries.
14 Apr 2013. Air Kerala was originally scheduled to be launched. “It (Air Kerala) will be airborne on April 14. The only question is whether the first flight will be an international or domestic one. Next month, we will be applying to the director general of civil aviation with the preliminary capital of Rs1 billion, which we will raise by then...We have, in principle, decided to float shares of Rs10,000 each and we were surprised when our own Malayalee businessmen there in the Middle East who employ thousands of employees agreed to take shares in their employees’ names. Each of them employ more than 20,000 employees, so the issue of raising money of Rs5 billion is not at all a problem. We are confident our dream will soon take flight,” said Chief Minister Oommen Chandy in October 2012.
1 Jan 2013. "We have spoken to most of the influential people at the Centre, requesting for a waiver on this condition of five years of domestic flying experience, in the case of Air Kerala. There has not been any response so far from the Centre. Probably they are all waiting for us to put a formal application. But we have to be careful in this case, as we can submit the application only after mobilizing Rs 100 crore. Now we have to look for alternatives." said Chief Minister Oomman Chandy.
21 Nov 2012. The Kerala government announces that it will go ahead with the Air Kerala project: Chief Minister Oommen Chandy says that "A study on the project during the previous UDF regime had found that the project is fesible. The present government has asked for an update on the project."
26 Sep 2012. The MD of Cochin International Airport (CIAL), VJ Kurien, announces that the airline plans to raise Rs 200 crore as initial equity capital. The plan is for 26% of Air Kerala to be held by CIAL, the state governmet & public sector undertakings; whilst the remainder will be held by other shareholders.
8 Sep 2012. At a board meeting of Cochin International Airport Limited, the directors propose a new independent airline and request VJ Kurian, their MD, to submit a feasability report within 4 months.
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