Kadhdhoo Airport operator records MVR 325.1 million in accumulated losses
It reported a loss of MVR 29.5 million for 2024, bringing accumulated losses over the years to MVR 325.1 million.
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The company that operated Kadhdhoo Airport in Laamu Atoll accumulated losses of MVR 325.1 million before the government decided last year to wind it up, according to an audit report.
The airport was transferred to Regional Airports Company in January last year to reduce losses associated with operating it as a separate company. Regional Airports Company now operates under Maldives Airports Company Limited (MACL).
The report, published by the Auditor General’s Office Sunday, recorded revenue of MVR 11.2 million for the Kadhdhoo Airport operator in 2024 and expenditure of MVR 38.8 million to run the airport.
It reported a loss of MVR 29.5 million for 2024, bringing accumulated losses over the years to MVR 325.1 million.
Kadhdhoo also houses a Maldives National Defence Force base.
