Addu Airport Revenue Rises by MVR 61 Million, Losses Cut by MVR 10 Million: Audit

The Auditor General's Office has released an audit report showing that Addu International Airport Private Limited saw its revenue increase by MVR 61 million last year, while its net loss decreased by MVR 10 million. According to the report, the airport's revenue rose from MVR 33 million in 2024 to MVR 94.4 million last year. The largest contributor to this growth was jet fuel income, which jumped from MVR 13.6 million in 2024 to MVR 72.9 million last year. Other revenue sources included MVR 9.64 million from ground handling charges and MVR 3.86 million from landing fees. Operating expenses also increased from MVR 55 million in 2024 to MVR 112 million last year, with jet fuel costs accounting for MVR 66.6 million of the total. However, employee-related expenses decreased slightly from MVR 47.7 million in 2024 to MVR 46.2 million last year, including MVR 22.2 million in salaries and MVR 22 million in allowances. The airport's net loss narrowed from MVR 78.7 million in 2024 to MVR 68.7 million last year. Addu International Airport is a state-owned company with the government holding a majority stake, and it has faced persistent loss issues for years.