In a move to find out more revenue streams, Cochin International Airport Ltd (CIAL) has come up with a plan for optimum utilization of available areas attached to the operating terminals. The Terminal-2, which has not beem in use following the shifting of domestic operations to Terminal 1 in 2019, is to be converted into three utility blocks catering to business jets, VVIPs and passengers on a short stay. As per the plans announced now, the conversion of Terminal 2 activity will begin next month.
CIAL Managing Director S Suhas IAS said that the director board chaired by Chief Minister Sri. Pinarayi Vijayan had given in-principle approval for the conversion plan of terminal-2. “We are lining up several short term as well as long term projects for activating new revenue streams. The civil work of the five-star hotel project has gained momentum. The Conversion of Terminal 2 is another ambitious idea to tap potential revenue. We plan to accommodate a Business Jet terminal, A VVIP safe house and a transit hotel in the sprawling terminal 2 which stands unused now ’’: Suhas added.
With the commissioning of the new terminal, The international flight operations were shifted from T1 to T3. Terminal 1 then underwent a renovation process and has been used for domestic operation since 2019. Terminal 2; having a built-up area of one lakh square feet, was previously used for the domestic operation was then earmarked for future expansion. The airport operator has come up with a concrete plan now for effective utilization of the built-up areas attached to the existing terminals. A meeting convened by the Managing Director has finalized the blueprint which envisages a cost-effective renovation of the interior into three blocks. Thirty per cent of the built-up area will be used for block one which will be converted as an exclusive business jet terminal with 3 lounges. This terminal will cater to both international and domestic business jets. Exclusive areas for customs, immigration and security holding operations will be allotted. Block-2 will have an area of 10,000 SFT is earmarked to house a VVIP safe house. This concept will ensure a hassle-free movement of passengers during the VVIP movement. Block-3 will have an area of 60,000 SFT. CIAL is planning to build 50 budget rooms for the passengers who intend to short stay at the airport. It is planned to apply the dynamic tariff concept; wherein the rent will be calculated on hour based scale. CIAL planned to complete block 1 and 2 in one year.
CIAL plans several value addition projects which will be completed by 2022 so that the non-aero component of the revenue pie could be enhanced from the current 40 per cent to 60 per cent.