Maldives Airports Company Limited (MACL), the operator of Velana International Airport, has paid a bonus of MVR 25,000 to each of its over 3,000 employees for the second consecutive year, amounting to a total payout of MVR 75 million. The bonus reflects the company’s strong financial performance, with a 20 percent increase in profit last year.
MACL, one of the largest revenue generators among state-owned enterprises (SOEs), posted a profit of MVR 1.1 billion in 2023, a significant rise from the MVR 868 million profit recorded in 2022. The company attributed this growth to increased operational efficiency and sustained demand in the aviation sector.
MACL was also the first state-owned company to implement cost-cutting measures in response to the current financial crisis. In June, the company announced a 20 percent reduction in costs across 10 areas, in line with broader efforts to ensure long-term financial sustainability.
The Public Corporations Board (PCB) recently issued a circular advising government companies to reduce their overall expenditure, including travel and employee-related costs.
