Kannur Airport Reports ₹742.77-Crore Loss Over 6 Yrs

HE Kannur International Airport, once envisioned as a game-changer for north Malabar's aviation sector, has suffered an accumulated loss of ₹742.77 crore since its inauguration in December 2018.

- LAKSHMI ATHIRA @Kannur

HE Kannur International Airport, once envisioned as a game-changer for north Malabar's aviation sector, has suffered an accumulated loss of ₹742.77 crore since its inauguration in December 2018. Despite efforts to stabilise operations, persistent financial and operational challenges have resulted in consecutive annual losses.

According to its financial report, as on March 31, 2024, Kannur airport remained in a precarious financial position. Officials attribute the setback primarily to the Union government's refusal to grant the Point of Call status, restricting its access to key international flight routes.

"The ₹742.77 crore loss is an accumulation from previous years. However, we expect to break-even in this financial year. By 2025-26, we are targeting a turnover of ₹250 crore, with a cash reserve of around ₹70 crore," Kannur airport managing director Dinesh Kumar C told TNIE. He also expressed optimism over securing the Point of Call status.