Velana Airport’s new terminal to open on Independence Day

Velana International Airport’s Managing Director, Ibrahim Shareef Mohamed, said today that the opening of the new terminal will lead to increased company profits and an improvement in the quality of services provided.

Speaking at MACL’s Annual General Meeting, Shareef said the terminal, scheduled to open on July 26, will bring transformative changes to Maldives tourism and significantly expand the company’s operations.

He attributed last year’s achievements to the collective efforts of the entire team and expressed full confidence in maintaining the company’s positive trajectory.

In 2023, MACL recorded a net profit of MVR 1.1 billion, despite spending MVR 7.2 billion on recurrent expenditure. This represents a 32 percent increase compared to the previous year and is the highest net profit in the company’s history.

The new terminal project was awarded to the Saudi Binladin Group by the government in 2016. Completing the project that was initiated eight years ago and opening the terminal has been a top priority for the current administration. Additional financing for the project was arranged in collaboration with the Saudi Fund.

Once completed, the terminal will expand to 78,000 square meters and increase annual passenger handling capacity to 7.5 million. The overall cost of the project, following revisions, has reached approximately USD 600 million (MVR 9.2 billion).

Preparing for the terminal’s opening that is scheduled to coincide with the 60th anniversary of Maldives’ independence on July 26 is currently a top priority for MACL staff.

MACL’s new Chairperson, Aishath Nurain Janah, along with board members, also participated in the Annual General Meeting. Nurain described the company’s achievements last year as a significant step forward and expressed optimism about MACL’s future, stating that the goal is to reach even greater heights.