Kuredu ends pact with IAS for Madivaru airport operations
Agreement signed by Kuredu Holdings with IAS expires next month.
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Kuredu Holdings has decided not to renew its agreement with Island Aviation Services (IAS) to operate the airport in Lh. Madivaru.
The airport was developed by Kuredu Holdings of the Champa business family, which operates the largest number of resorts in Lhaviyani atoll. The airport is served only by the IAS-operated national airline, Maldivian.
A source familiar with the matter told Atoll Times on Monday that the agreement signed by Kuredu Holdings with IAS expires next month and Kuredu Holdings has decided not to renew the agreement.“
It is not yet known who will take over the airport.
The IAS could not be reached for comment.
However, state media, PSM, quoted IAS as saying that the employees working at Madivaru airport would remain in their jobs even if the contract was not renewed. The airport employs 22 employees.
In addition, Maldivian airline will also operate scheduled flights to Madivaru, IAS told PSM.
