9 Sep 2012

Cochin International Airport Ltd announces 16 per cent dividend

KOCHI: The Cochin International Airport Ltd company today announced 16 per cent dividend to its shareholders. 
This was announced by Chief Minister and CIALChairman, Oommen Chandy at the airport company's AGM here. 
The government will consider the proposal to revive the 'Air Kerala' plan (the state having its own airlines), he said. 
CIAL's total turnover during 2011-12 fiscal was Rs 276 crore. Growth in revenue was 13 per cent compared to the previous year. 
Passenger traffic through the airport increased by nine per cent. About 4.72 million passengers travelled through the airport last fiscal. 
The Maintenance, Repair and overhaul facility for aircraft is ready for commissioning. The approach surveillance radar is ready and is expected to be functional by December this year, he said. 

Once this is ready, landing time of aircraft, which is presently eight minutes, will be reduced to almost three minutes thereby increasing the runway utilisation and also help save fuel significantly.
Source - Economic Times

Outlook apologises to M.K. Venu for Radia tapes cover image

Financial Express managing editor M.K. Venu has withdrawn his criminal defamation case against Outlook after a settlement that included an apology from the magazine for putting his photo and name on its cover dealing with the 2G scam and the Niira Radia tapes.

“The cover image of THE 2G SCAM TAPES (November 29, 2010) mistakenly included a photograph of Financial Express managing editor M.K. Venu with a caption that read, ‘In The Ring’,” says the clarification posted on the Outlookwebsite. “This appeared to imply that he was part of a group that worked to perpetuate the then Telecom Minister A. Raja in power, resulting in the scam. This was not our intention and we regret the impression created.”

The November 29, 2010 issue of Outlook magazine carried extracts of several telephone conversations that lobbyist Niira Radia had had with several newspaper editors, among them M.K. Venu. However, in none of Mr. Venu’s conversations with Ms. Radia was he heard discussing the telecom or spectrum issue.

Outlook's clarification continues: “We are happy to draw our readers’ attention to M.K. Venu’s consistent criticism of Raja’s Telecom Policy in his various published articles since 2007. Readers will bear in mind the foregoing clarification when viewing the November 29, 2010, cover page and cover story of Outlook.” It added that technical limitations prevented the clarification accompanying every online reproduction of the story. “In view of a resolution of the matter and issuance of this clarification, M.K. Venu has withdrawn the litigation filed against Outlook,” it says.

The case, being heard in a Delhi court, ended on Friday.

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