Audit shows Addu Airport doubling expenses but narrowing annual losses

Addu International Airport Pvt Ltd increased its revenue by MVR 61 million last year while reducing its losses by MVR 10 million, according to an audit report.

The Auditor General’s Office stated on Wednesday that the country’s southernmost international airport generated MVR 33 million in revenue in 2024. Last year, revenue rose sharply to MVR 94.4 million.

Jet fuel sales formed the largest revenue stream, increasing from MVR 13.6 million in 2024 to MVR 72.9 million last year. Other income included MVR 9.64 million in ground-handling charges and MVR 3.86 million in landing fees.

Expenditure also climbed significantly, with total operating expenses rising from MVR 55 million to MVR 112 million. Jet fuel accounted for MVR 66.6 million. Employee-related expenses fell 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 company’s annual loss decreased from MVR 78.7 million in 2024 to MVR 68.7 million last year. Addu International Airport Pvt Ltd, a government-owned company, has carried a loss burden for years.