
TMA staff raise concerns over USD-to-MVR salary structure
Concerns included the potential difficulty of meeting obligations such as loan repayments and other dollar-denominated expenses.
Employees of Trans Maldivian Airways (TMA) held a meeting on Friday to express concerns regarding changes to the company’s salary structure.
The meeting, which took place at Waters Edge Rooftop Café in Hulhumalé, was attended by pilots, cabin crew, engineers and other staff. According to Aviators Maldives, the primary concern raised was the recent adjustment in the payment ratio between foreign and local currency.
Under the revised structure, 80% of salaries are paid in US dollars and 20% in Maldivian Rufiyaa. The adjustment was reportedly made to comply with the Foreign Exchange Act currently in force, which requires a portion of foreign income to be converted into Maldivian Rufiyaa through the banking system.
Participants at the meeting stated that the decision was made without extensive consultation and expressed concern about its impact on personal financial commitments. Concerns included the potential difficulty of meeting obligations such as loan repayments and other dollar-denominated expenses.
There was also apprehension that TMA could further increase the portion of salaries paid in Rufiyaa without prior notice or adequate preparation, which could further affect employees’ financial stability.
Aviators Maldives noted that the change may also reflect broader issues related to foreign currency liquidity. TMA, which operates one of the largest seaplane fleets globally, plays a significant role in transporting tourists to resorts across the Maldives. The shift in how the company manages its foreign currency earnings could have wider implications.
While no formal plans for protest or industrial action were announced, attendees of the meeting called for enhanced internal dialogue and further discussion with company management to address the matter.