In an exclusive interview with local media outlet Mihaaru, Maldives Airports Company Limited (MACL) Managing Director Ibrahim Shareef Mohamed firmly dismissed speculation surrounding the proposed handover of Velana International Airport’s VIP (CIP) terminal to Dubai-based company Jetex.
Shareef clarified that while MACL frequently receives numerous proposals for various airport development projects, no final decision has been made regarding any partnership with Jetex or other firms.
“We have not decided to give the CIP terminal or any other terminal to anyone,” Shareef asserted during the interview. He stressed that all proposals are carefully assessed, and any discussions are held only if they serve the best interests of both the company and the nation.
According to details from Jetex’s proposal — submitted about a year and a half ago — the company had expressed interest in investing USD 25 million (MVR 386 million) over 25 years to build and operate a world-class VIP terminal. Jetex anticipated turning a profit within two years by offering premium terminal services, with projected revenues of USD 3.3 million (MVR 51 million) annually from the fifth year onward and an estimated profit of USD 1 million (MVR 15 million).
The proposal also included sharing 55 percent of ground handling profits with MACL and committing to a minimum annual payment of USD 5 million (MVR 77 million). Jetex requested a 10,000-square-foot ramp area for exclusive aircraft parking as part of a 25-year concession plan.
Despite the attractive figures, Shareef underscored that MACL has not moved forward with the offer and remains focused on protecting national interests and ensuring transparent decision-making. His remarks aim to quell rumors and reaffirm MACL’s commitment to maintaining local control over vital airport operations at the country’s main international gateway.
