Posted on: 29 August 2019 by Glenn Sands
The Maldivian Government has allocated US$2.26 million to Maldivian formerly known as Island Aviation Services Ltd. in its 2019-20 supplementary budget.
Reported in the Maldives Business Review, the funding will assist the state-owned carrier to reduce its fares by 25%. The airline operates scheduled flights to ten islands throughout the Indian Ocean archipelago as well as to India, Thailand, China and Bangladesh.
The latest Maldivian Ministry of Finance records show the airline posted a 19.4% profit margin for the first quarter of 2019 compared to 9.8% for the same period last year.
Maldivian competes in the domestic market against three other privately-owned Maldivian airlines – FlyMe, Trans Maldivian Airways and Manta Air.