Maldives Airports Company Limited (MACL) has announced its decision to pay half of the employees' salaries in US Dollars once again.
MACL employees were notified on Wednesday, September 13 via an internal memo which said the company's board had decided to resume the previous salary format again.
The memo noted that employees would be entitled to receive 50 percent of their salaries in US Dollars effective from September 2023.
The company suspended salary payments in US Dollars during the Covid-19 pandemic due to restrictions and strict policies regarding dollar circulation.
MACL General Manager, Corporate Affairs, Hassan Areef, said that the board's decision reflects the company's improved cashflow. He also highlighted the management's efforts to reinstate the pre-Covid salary structure following the reopening of borders after the pandemic.
"We have been preparing for this for a long time, and it has now come to fruition. This decision has nothing to do with the elections," Areef said.
MACL, which operates the main air gateway of the Maldives, Velana International Airport (VIA), is among the top state-owned enterprises (SOE) to generate income in US Dollars, and also the largest employer with close to 4,000 employees.
The company had recently resumed annual bonus disbursements to employees following a two-year break. Employees received a bonus of MVR 25,000 each as the accumulated bonuses of the past two years.