Karunakaran's hopes dashed as CM becomes CIAL chairman

By Our Special Correspondent

THIRUVANANTHAPURAM, JUNE 28. The senior Congress leader, Mr. K. Karunakaran's hopes of being inducted as chairman of the Cochin International Airports Limited (CIAL), which manages the airport, were dashed consequent to the election of the Chief Minister, Mr. A.K. Antony, to the post today.

Mr. Karunakaran had expressed his desire to become the chairman of the CIAL since he had been instrumental in forming the airport company, besides taking steps to make the prestigious project a reality. Some of the major shareholders had also backed his candidature.

However, the Chief Minister apparently rejected the proposal, following which his election as board chairman was formally carried out at the first meeting of the CIAL's director board after the UDF came to power.

Three former LDF Ministers, Mr. K.E. Ismail, Mr. S. Sarma, and Mr. T. Sivadasa Menon, did not participate in preparation to submitting their resignations. The others who attended the meeting were the Hudco chairman, Mr. V. Suresh, the Chief Secretary, Mr. V. Krishna Murthy, the CIAL managing director, Mr. Babu Rajeevan, the Gulfair chief, Mr. Mohammed Ali, Mr. C.V. Jacob, Mr. E.M. Babu and Mr. N.V. George. The last four are representatives of the shareholders.

Talking to reporters after the meeting today, Mr. Antony said the issue of retaining the 51 per cent Government stake in CIAL would be taken up at the next director board meeting on July 31, before which the Cabinet would take a policy decision.

He said the airport was poised for a giant leap since Kochi was going to be the hub of the information superhighway. Another major issue related to repayment of loans to Hudco, which has, according to reports, demanded that the Government issue bonds in lieu of its loans.

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