The Cochin International Airport Limited has received the Airport Service Quality Award-2022, considered a much-revered achievement in the global aviation sector. The award is presented by the Airport Council International (ACI), which deploys extensive survey methods and practices to choose eligible candidates.
The recognition was presented to Cochin International Airport Ltd (CIAL) on the grounds of its remarkable initiative, “Mission Safeguarding”, implemented in the year 2021-22. The main motive of the mission was to ensure seamless traffic management and passenger satisfaction post the pandemic.
Let’s have a better understanding of the ASQ award and the initiative that led Cochin International Airport Limited to win the race for this prestigious award.
About Airport Service Quality Award
The Airport Service Quality Award is instituted by Airport Council International (ACI) to honour the best-serving airports in terms of their services provided. This award is considered one of the highest awards in the global aviation field, the reason being its substantial survey strategies to select the awardees.
It is one of the best passenger service benchmarks that help the ACI shortlist the best-serving airports on the grounds of customer service.
The survey is based on a self-assessment questionnaire that includes all the aspects of passenger satisfaction at the airports. It covers 34 service items around which the questions are framed and is available in 28 different languages.
Apart from the comprehensive pre-existing items, a new parameter relating to hygiene was added to the survey. It was noted that the airports continue to enhance the customer experience and take into consideration all the necessary protocols and measures that are necessary for an optimum client experience.
With the growing urge to meet passenger needs, it is of utmost importance to maintain a competitive advantage, generate significant profits, and ensure a sustained recovery of the aviation ecosystem.
Now that the whole concept and relevance of the Airport Service Quality (ASQ) Award is clear let us understand why Cochin International Airport Limited (CIAL) was honoured with the award.
What Made CAIL Perfect Candidate For The Award?
For its unmatched initiative pertaining to customer satisfaction and safety post the deadly Covid-19 pandemic, Cochin Airport started “Mission Safeguarding”, which led CIAL to win the ASQ Award for the year 2022.
CIAL won the award in the 5-15 million passenger category of airports operating in the Asia-Pacific region, and the Managing Director S Suhas received the award from ACI World Director General Luis Felipe de Oliveira in Krakow, Poland, organised in connection with the ACI Customer Experience Global Summit 2022.
In regards to the award, the managing director of CIAL said:
“The airport implemented ‘Mission Safeguarding’ during the time of the pandemic, which ensured smooth traffic management that is safe, secure and passenger-friendly“.
The CIAL won the award due to the implementation of the innovative mission that helped in managing and streamlining the workflow in the pandemic years, prioritising customer satisfaction and safety.
Mission Safeguarding ensured a passenger-friendly, smooth and secure environment for efficient traffic management when the world was dealing with unforeseen conditions. This innovative pursuit led the CIAL to achieve the ASQ award: the highest award in the aviation industry on a global scale.
Monetary Gains From The Honour
The implementation of the scheme not only bestowed CIAL with a globally recognised award in the aviation sector but also gave several growth opportunities to the airport. Post the deployment of the Mission Safeguarding scheme; the airport saw a 93% rise in passenger volume and an improvement of 60% in air traffic movement.
Another feather to the cap was added when Cochin International Airport Limited became the third busiest airport in terms of international traffic.
These growth potentials were not only limited to the airports’ revenue, but shareholders of CIAL also bagged significant returns as a result of these developments. With a market cap of Rs 8177.54 Crore, the CIAL unlisted share price is trading at Rs. 171 per equity share. Not only this, but the company has also shown significant developments in revenue, and EBITDA margins have shown signs of stability, if not growth, in the past few years.
With more than 22 years in service, CIAL has served more than 100 million passengers and is on the path of continuous development. The company is not only generating significant profits but is also providing the substantial earning potential to the common people via its unlisted shares. If you want to invest in unlisted shares, then you must choose the best platform to buy and sell unlisted shares in India. You can end this search with Stockify to get access to not only CIAL unlisted shares but the shares of other blue chip companies not yet registered in the Indian stock market. With Stockify, you can buy and sell unlisted shares and ESPOs, and pre-IPO stocks are also available. So if you want to diversify your investment portfolio, invest in unlisted shares with Stockify.