Maldives to merge 2 airport companies by January end
As part of the work, eight airports, including Hanimaadhoo International Airport, will be merged to MACL's operations.
The Maldives Airports Company Limited (MACL) and Regional Airports Company Limited (RACL) will be merged by the end of January as part of the government's cost-cutting policy, the government said on Sunday.
The targeted date was announced by economic minister Mohamed Saeed at a press conference held at the President's Office.
He said the decision to merge MACL and RACL in order to reduce costs and strengthen operations was also decided at Sunday's cabinet meeting.
“So by January 31, 2025, this work will hopefully be completed in accordance with corporate governance, the decisions and administrative work that the two companies have to do,” the minister said.
Saeed said it would save a lot of money and bring huge improvements to both companies. As part of the work, eight airports, including Hanimaadhoo International Airport, will be merged to MACL's operations.
MACL currently operates only Velana International Airport.
The cabinet on Sunday decided on:
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Merger of the Maldives Airports Company Limited (MACL) and Regional Airports Company Limited (RACL) by the end of January
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Merger of the Fahi Dhiriulhun Corporation (FDC) with the Housing Development Corporation (HDC)
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Consolidation of the Maldives Fund Management Corporation with the Business Center Corporation (BCC)
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Designating existing AgroNet as part of Maldives Industrial Development Free Zone Company
These moves follow last week’s cabinet decision to make Fenaka Corporation, a debt-ridden state utility, a subsidiary of the State Trading Organisation (STO).
