Island Aviation Services Limited (IASL) and the Maldives Fund Management Corporation Limited (MFMC) have signed a Memorandum of Understanding (MoU) to establish an international airline. The MoU was signed at a special ceremony at the Ministry of Economic Development.
MFMC stated that through this collaboration, it will embark on a journey soaring to new heights of global connectivity and limitless possibilities. The agreement is expected to provide passengers from China, Europe, Russia, and other destinations with a quality travel service to the Maldives. The agreement will sustainably boost the country's transport sector, tourism industry, and economy.
The MoU concerns the establishment of a joint venture to amplify international operations, particularly wide-body flights to long-haul destinations. IASL stated that the partnership aspires to expand the country's global aviation footprint while stimulating economic growth. The partnership entails collaborative initiatives and strategic investments to capitalise on international markets, positioning the Maldives as a formidable player in the global aviation arena.