Friday
22nd Nov 2024
Dhivehi Edition
Unless the national airline of the Maldives is restructured, the company could go bankrupt, warned the former Minister of Economic Development, MP Mohamed Saeed (Maavah).
In a recent tweet, MP Saeed commented on the state of Maldivian, and its "decline" since former President Yameen Abdul Gayyoom left office. Particularly, he highlighted that Maldivian had earned almost MVR 1.6 billion in revenue at the end of 2018, with MVR 123 million as profit.
However, two years into President Solih's presidency, MP Saeed pointed out that the company's debt has risen to MVR 600 million. He warned that the company was on the brink of bankruptcy if something was not done immediately.