Minister of Transport and Civil Aviation, Captain Mohamed Ameen, has stated that by the end of 2023, during the previous administration, Island Aviation, which operates the national airline Maldivian, was in debt of MVR 2 billion.

Speaking at a ceremony held today at Velana International Airport to mark the addition of an A-330 wide-body aircraft to Maldivian's fleet, Minister Ameen said that the national airline started in 2000 with a paid-up capital of MVR 4 million from the government.

The Minister said that in 2018, the value of assets of Island Aviation, which operates the national airline, was MVR 2.8 billion. He added that the company's revenue that year was MVR 2 billion, with a net profit of MVR 89 million.

"However, by the end of 2023, after five years, the company was in debt of more than MVR 2 billion," the Minister said.

The Minister stated that by the end of 2023, four of Maldivian's Dash 8 aircraft were in an unusable condition.

The Minister said that the previous government had issued large amounts of credit, and efforts are being made to recover that money.

The Minister further stated that with the A-330 brought today, tourism and economic activities in the Maldives will increase.