News DeskMALE’, Maldives — With the Maldives preparing for its high season of private jet arrivals for Christmas and New Year, the government has announced a policy shift to direct profits from private jet services exclusively to Maldivian-owned companies. Transport Minister Mohammed Ameen stated on Tuesday that, starting early next year, handling rights for private jets at Velana International Airport would be limited to 100 percent locally owned firms.
“Jet handling is a big business, with a substantial number of private jets coming to the Maldives,” Minister Ameen said. “However, much of this market is currently dominated by companies set up in the name of Maldivians but benefiting foreign interests.”
The new regulations are intended to redirect these revenues back to the Maldivian economy, in line with President Dr. Mohamed Muizzu’s vision of maximizing national benefits from domestic assets.
The government’s plan will include audits and revised licensing requirements to prevent foreign-controlled entities from indirectly profiting from the sector. “The government aims to ensure that companies benefiting from jet services are truly domestic,” Minister Ameen said, encouraging Maldivians in the industry to avoid arrangements that enable foreign profit-sharing.
Past efforts to regulate the sector have encountered resistance, reportedly due to the involvement of influential businesses with political ties. Despite longstanding concerns from locals, previous administrations did not successfully alter the rules governing the industry.
In December 2023, a record number of private jets landed at Velana International Airport, underscoring the lucrative potential of the sector as the Maldives enters peak travel season. The government’s new approach seeks to capture that potential for the local economy, signaling a significant policy shift ahead of the influx.
