After facing innumerable problems since its incorporation almost 10 years ago, CIAL is expecting to break even this year and is poised for a marginal net profit.
CIAL was set up as a public limited company in March 30, 1994, with an authorised capital of Rs 90 crore. After overcoming various hurdles during its construction, the airport started commercial operations on June 10, 1999.
In 2002-03, CIAL registered an operating profit of Rs 6.92 crore, against a loss of Rs 18.01 crore in 2001-02.
According to a CIAL executive, currently the company's revenues are not enough to meet its debts. Its operating cost is Rs 2.5 crore a month, and it has been spending Rs 3 crore every month towards repayment of loans.
