Island Aviation and MFMC partner for new international airline

Island Aviation and MFMC sign an MoU to establish a new international airline on August 31, 2023. (Photo/Island Aviation)

Maldives Fund Management Corporation (MFMC) and Island Aviation Services Limited (IASL) have signed a Memorandum of Understanding (MoU) to establish a brand-new international airline.

The MoU was signed by IASL’s Managing Director Mohamed Mihad, Deputy Managing Director Aishath Jennifer, and MFMC’s Managing Director Hassan Manik and CEO Mohamed Mujah Muneer in a ceremony at the Economic Ministry on Thursday.

IASL said the agreement marks the initiation of an ambitious journey to revolutionize air travel and connectivity on a global scale, and signifies an exciting leap forward in the strategic collaboration between MFMC and IASL.

“With a shared vision to interlink the Maldives with the world and contributing to the nation's economic growth, the two entities are embarking on an ambitious journey to establish a worldclass international airline that showcases the beauty and hospitality of the Maldives on a global stage,” said IASL, in a statement announcing the partnership.

According to IASL, the new international airline aims to leverage the combined strengths and expertise of MFMC and IASL to provide unparalleled travel experiences, seamless connectivity, and unmatched service quality.

Island Aviation and MFMC sign an MoU to establish a new international airline on August 31, 2023. (Photo/Island Aviation)

IASL said the collaboration is primed to cater to critical tourist markets, including to China, Europe, and Russia, opening doors to a new wave of sustainable tourism influx.

“Through this strategic partnership, both organizations are steadfast in their pursuit of realizing a shared vision: to bolster the Maldives' reputation as a premier travel destination and simultaneously generate substantial economic gains for the country,” said IASL.

“As the partnership between MFMC and IASL takes flight, it is poised to not only redefine international air travel but also redefine the Maldives' global imprint.”

The plans to establish a state-run international airline was announced in the ruling MDP’s manifesto.