Island Aviation and MACL Join Forces to Enhance Seaplane Services

President Dr. Mohamed Muizzu has announced a strategic partnership between Island Aviation and the Maldives Airports Company Limited (MACL) aimed at modernizing and sustaining the "Maldivian Seaplane" business. This decision was made during a recent cabinet meeting, with plans to create a joint venture company fully controlled by Island Aviation Services Limited (IASL) by April 30, 2025.

The proposed partnership will be submitted to the Economic Council for approval. MACL, the country’s most profitable state-owned enterprise, reported a profit of MVR 1.1 billion last year, while Island Aviation experienced a loss of MVR 23 million due to high operational and debt repayment costs. Currently, the airline division, Maldivian, operates a fleet of 11 seaplanes, and this collaboration aims to turn around its financial performance.