Company
Addu International Airport Company
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Economy
Addu Airport Company's losses climb to MVR 817 million
Addu International Airport Company, which operates Gan International Airport, reported total accumulated losses of MVR 817 million, with a loss of MVR 68 million in the past year. Despite revenue nearly tripling to MVR 94 million, operating costs more than doubled to MVR 112 million, and the company's net worth fell to negative MVR 58 million, funded by interest-free loans from shareholders and owing large sums to the Finance Ministry and state entities.
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