In a decisive statement that quells growing public concern, Maldives Airports Company Limited (MACL) Managing Director Ibrahim Shareef Mohamed has affirmed that the billions of dollars borrowed to upgrade Velana International Airport (VIA) will be paid off without burdening taxpayers. The landmark new passenger terminal—part of a near US $600 million expansion—will be inaugurated on July 26, 2025, coinciding with the nation’s 60th Independence Day.
In a TVM “Heyyambo” interview yesterday, Shareef emphasized that MACL is fully capable of managing the debt repayment, urging citizens to “not worry.” He explained that the airport’s robust financial performance and enhanced operational capacity underpin repayment plans.
Last year, MACL posted MVR 8.6 billion in revenue and MVR 1.1 billion in profit, and with the new terminal, profits are projected to increase further . Key to this financial resilience is the new facility’s ability to expand passenger processing capability from 1.5 million to over 7 million annually—supported by advanced features like automated baggage handling, aerobridges, and an upgraded fuel farm integrated with AI systems.
Shareef highlighted the critical importance of VIA’s “prime time” between 6 AM and 3 PM, accounting for 85 percent of daily flights. The new terminal is expected to relieve current congestion and create room for additional flights during these peak hours, thus boosting revenue from airline services.
The grand project, initiated in 2016 under the administration of former President Abdulla Yameen, has seen slow progress at times. When President Muizzu assumed office, only 54 percent of the terminal was complete. Accelerated construction since then—driven by direct government support—has ensured timely delivery ahead of the initial October 2025 roadmap.
Overall, the development includes not only the international terminal but also a seaplane hub, cargo terminal, hydrantrun fueling system, and new runway infrastructure—all part of MACL’s drive to modernize VIA and boost its aviation capacity.
As Maldivians prepare to welcome the new terminal on Independence Day, MACL’s clear repayment strategy, strong earnings, and operational enhancements aim to reaffirm public trust and mark a new chapter in the nation’s connectivity and tourism growth.
