Rank 5

Maldives Airports Company Limited (MACL)

Maldives Airports Company Limited (MACL) is a 100% government owned limited liability company incorporated under the Companies Act of the Republic of Maldives. MACL is governed by a Board of Directors appointed by the President of the Maldives. The Corporate Office of MACL is on the island of Hulhule', Republic of Maldives.

The establishment of MACL came through various government departments which had been responsible in the past for the operation of Hulhle' Airport. Hulhule Airport was opened on 12 April 1966 and government created Airport Office to manage Hulhule Airport. Since then Hulhule Airport has undergone various development phases and Male’ International Airport (MIA) was opened as the first international airport on 11th November 1981 with the provision of essential services and airport office was replaced by Maldives Airports Authority.

On 10 November 1982, Civil Aviation Authority (CAA) was established by merging Maldives Airports Authority and Department of Civil Aviation to provide aviation services to ICAO accepted level. On 12th December 1988 government dissolved CAA and formed Maldives Airports Authority (MAA) and Department of Civil Aviation (DCA). With rapid growth of MIAL, the need for a commercial entity to manage the airport was recognized, thus on 1 January 1994 the government detached MAA establishment as a separate commercial entity rather than part of the government administration and subsequently MAA was incorporated into Maldives Airports Company Limited (MACL) as a limited liability company effective on 1 August 2000.

The company recorded more than MVR 1.1 billion in Net Profit in 2019, however, due to the decline in tourism activity from COVID-19 pandemic, the profits declined to MVR 242 million in 2020.