Owner of Inner Maldives, one of the largest travel agencies in the country, Mohamed Firaq on Saturday has stressed on the importance of letting Maldivians run the country's already vulnerable aviation sector.
He drew his statement specifically towards the recent announcement by the Maldives Airports Company Limited (MACL) that Dubai's Jetex has expressed interest in providing ground handling, jet refueling, and management of the new VIP terminal.
In his post on Facebook, Firaq highlighted the dwindling number of jet movements and said that jets recorded 1,000 fewer movements in 2024 compared to the year before.
While highlighting that Jetex is a well-known brand, Firaq also noted that it was far from dominant and added that the company faces "stiff competition in almost every location they operate", specifically in markets like the United Arab Emirates (UAE). He also noted that Jetex's share was shrinking as "Falcon Elite and others gain ground."
"Globally, Jetex is often just a desk presence within third-party FBOs," Firaq continued and added that in major hubs like Paris,Miami, Singapore, and Sao Paulo the company operates in shared or secondary facilities but not flagship terminals. He further noted that Jetex is overshadowed by far stronger Fixed-Based Operators (FBOs) like Signature, Jet Aviation, Universal, and some of the local leaders as well.
According to Firaq in his post, local jet handlers collectively contribute USD 20 million annually to MACL, but Jetex does not "even cross USD 1 million".
"This isn't about nationalism, it's about smart economics and sutaining an already fragile segment of our aviation sector. The CIP terminal should be led by locals - companies who understand our market, who've stayed through tough seasons, and who reinvest here," he commented.
The local entrepreneur further opined that giving the terminal to Jetex would not increase movements from top-tier jet operators such as VistaJet, NetJets or Global Jet but would have the opposite effect, with most of them likely to avoid Jetex-operated terminals.
"Let's not dismantle a system that works, just for branding or external promises. Maldives aviation should be built by Maldivians, for the Maldives," the businessman concluded his statement.
Although there have been rumors that the government is seeking potential international players to operate and manage the new terminal of the country's largest air gateway, MACL has not made any formal statements about it and clarified that it had not received such a formal proposal as well.
The Velana International Airport (VIA) terminal's expansion seeks to accommodate 7.5 million annual travelers, while MACL has been gearing to open the new passenger terminal on July 26 this year coinciding with the country's Independence Day.