Regional Airports Company Limited has stated that it plans to expand its business ventures as part of efforts to become profitable. Managing Director of Regional Airports Company Mohamed Rizvi made the statement during a meeting between the Parliamentary Committee on State-Owned Enterprises (SOEs) and senior officials of Island Aviation Services Limited (IASL), Regional Airports Company, and Maldives Transport and Contracting Company (MTCC).
During the meeting, Rizvi said the most important work is to increase the standard of airports but that the Regional Airports Company has plans to expand its business ventures in order to become profitable. He detailed that the current capital expenditure includes equipment and training personnel and that the company plans to lease the airport land plots to guesthouses, and establish commercially bonded warehouses and cargo warehouses.
Additionally, Rizvi highlighted that none of its airports are profitable and that adding more employees is also costly. He further said that three new airports will soon be open, with one scheduled to be open in December and two to be open next year. He added that airports will also be upgraded to accommodate private jets.
Regional Airports Company Limited was established in 2020 to oversee the operations of regional airports developed by the government and to ensure that they are operated on an efficient and sustainable basis. The company manages six domestic airports across the Maldives.