Addu airport revenue rises 185% as annual losses decline

Addu International Airport recorded a 185% increase in revenue in 2025, while its annual losses declined by 12.7%, according to the latest audit report published by the Auditor General's Office.

The financial statements of the company operating the airport show that it recorded a loss of MVR 68.7 million in 2025, compared with approximately MVR 78.7 million in 2024.

The annual loss decreased by MVR 10 million, equivalent to 12.7%. Loss per share also declined from MVR 98 in 2024 to MVR 86 in 2025.

According to the audit report, the airport generated MVR 94.4 million in revenue during 2025, representing an increase of 185% compared with the previous year.

The increase in revenue was attributed to a rise in the number of flights and private jets arriving at the airport.

However, operating expenditure also increased during the year, rising by approximately 54% compared with 2024.

The airport's operating costs reached MVR 158.8 million in 2025, up from MVR 102.6 million in the previous year.

Despite the improvement in revenue and reduction in annual losses, the airport continues to face financial challenges.

The audit report showed that accumulated losses from previous years had reached MVR 817.5 million by the end of 2025.

The report also highlighted that accumulated losses exceeded the value of the airport company's assets by approximately MVR 450 million.

In light of the financial position, the auditors recommended that the company undertake a revaluation of its assets.

The airport's total liabilities stood at MVR 152.9 million at the end of 2025.

The findings indicate that although increased flight movements contributed to revenue growth, the airport continued to operate at a loss, with expenditure exceeding income.

The latest figures also show that the company's accumulated losses remain substantially higher than its asset value, despite the improvement in its annual financial performance.