President Ibrahim Mohamed Solih on Thursday declared Lh. Madivaru airport will be developed under cross-subsidy basis.

Cross-subsidy basis will allow the administration to award an island or lagoon in exchange for finance to develop the airport for international flights.

As per the declaration, the administration is seeking USD 5 million for Lh. Madivaru Airport development project.

Madivaru Airport, which was opened in February 2021 was developed by Kuredhoo Holdings who also run majority resorts in the atoll. Madivaru Airport is currently managed by Island Aviation Services.