Maldives Airports Company Limited (MACL) has announced that it earned a net profit of 1.1 billion rufiyaa last year. MACL’s financial statements were made public at the company’s Annual General Meeting held at Hulhulé Island Hotel. According to the financial statistics released by the Auditor General’s Office, MACL’s revenue for the past year was 7.9 billion rufiyaa. The company’s revenue in the previous year was 7 billion rufiyaa, marking an 11% increase. Last year, the company’s recurrent expenditure was 7.2 billion rufiyaa, and the net profit was 1.1 billion rufiyaa. This is a 32.2% increase compared to the net profit of 833.5 million rufiyaa in 2023.
MACL stated that this is the first time in the company’s history that such a large net profit has been achieved. While MACL’s revenue and net profit have increased, a significant portion of the revenue comes from non-air traffic services provided by the company. Last year, 6.7 billion rufiyaa was earned from this sector. The largest share of non-aviation revenue comes from fuel sales, which generated 4.7 billion rufiyaa.
Revenue related to aviation services amounted to 1.06 billion rufiyaa last year. The largest revenue in this category came from ground handling fees, totaling 630.9 million rufiyaa. As MACL reports substantial profits, the company is preparing to open the new terminal at Velana Airport next month. The company has predicted that with the new terminal, their business will also see growth. The new terminal will have many commercial spaces, and the company has noted that terminal services will be expanded.
