| DATE: 2010-11-01 |
Privatisation Committee Chair Mahmood Razee said the proposal was made to assist the company in cutting down the operational cost. He noted that the company could use Kaadehdhoo airport as a hub.
“We hope that the company would be able to cut down the operational cost by managing an airport. The company will also have the chance to develop the airport as a joint venture with another company,” he said.
Razee stressed that the company has the full power to accept or reject the proposal.
“Although the company lost profit from Male International Airport, transferring a lot of employees [to GMR] will reduce the operational cost. It is also expected that the company will start making profit within three years of taking over the operations of Kaadehdhoo airport,” he said.
IAS Admin Manager Ali Nashaath said discussions are underway to handover the operations of Kaadehdhoo airport. She, however, did not disclose details.
IAS earlier said the company tried to manage cargo services department, ground services department and Maldivian ground operations. Nashaath earlier said senior company officials including Managing Director and Finance Ministry officials travelled to India to discuss the matter with GMR officials.
The government leased Male International Airport to GMR for 25 years.
According to Managing Director ‘Bandu’ Ibrahim Saleem’s annual report, the company recorded an Rf67 million profit from ground services, cargo and lounge services, compared to 2008’s Rf56 million. The Managing Director in his report said the company would lose the profit from ground services, cargo and lounge services if the airport is privatised.
IAS earlier said Rf100 million would be needed for sustainable management annually if the company loses the businesses at the airport.
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