MACL, Island Aviation joint venture to manage Maldivian seaplane operations

President Mohamed Muizzu has announced plans to establish a strategic partnership between Island Aviation Services Limited (IASL) and Maldives Airports Company Limited (MACL) to modernise and expand the Maldivian seaplane industry. The initiative aims to sustain the growth of the seaplane operations currently managed by IASL and further develop the country’s aviation sector.

A joint venture company, fully controlled by IASL, will be formed with MACL by April 30, 2025. The proposal will be submitted to the economic council for approval, reflecting the government’s long-term vision for the aviation sector.

This decision follows a broader discussion within the cabinet on September 30, based on a paper presented by the Ministry of Fisheries and Ocean Resources. The paper focused on strategies to diversify the Maldivian economy and maximize the potential of marine resources. As part of these discussions, the government has designated specific zones for mariculture development, encouraging foreign investments in marine enterprises.

The designated mariculture zones are:

• Haa Dhaalu and Shaviyani Atolls Mariculture Zone
• Raa Atoll Mariculture Zone
• Meemu Atoll Mariculture Zone
• Thaa Atoll Mariculture Zone

Additionally, a 73-hectare area located 7 km south of the Vaadhoo Strait has been allocated for commercial-scale reef fish farming. This initiative includes the construction of hatcheries and the rearing of aquatic species, with specific regulations to be established for leasing mariculture zones.