The Group had informal consultations with Kerala CM Oomen Chandy and plan to give a 51 percent stake in the project to the state government. They plan to source the funds from overseas Indian investors.
Some aviation professionals working in airlines are also associated with the new project, one of whom is Rajeev Joseph a UAE NRI. He said a new company, Indo Heritage International has been formed to construct and commission the airport as well as to launch a low-cost airline service.
He said the Kerala government should either give land for the airport project or permit the new company to buy and develop the airport.