Island Aviation Services Limited (IASL) has been listed as the highest debtor to the Maldives Airports Company Limited (MACL), according to its 2021 audit report.

The audit of MACL, released by the Auditor General’s Office on Wednesday, found that the company had not received MVR 776 million from various parties, of which IASL owed 45 percent.

The audit report noted that state-owned companies owed 52 percent of the receivables to MACL. The next largest share of debt is shared by international airlines.

Other companies and their total outstanding are as follows;

- Hulhule’ island Hotel – MVR 28,356,783

- State Trade Organization – MVR 4,598,996

- Maldives Post Limited – MVR 2,765,503

- Addu International Airports Private Limited – MVR 2,557,305

- Others (501 parties) – MVR 386,212,229

Services obtained by IASL and how much they owe to MACL:

The report recommended MACL to better adhere to credit policy and ensure debts are collected on time to make funds available for much-needed operations of the company.