The administration of President Mohamed Muizzu is facing growing criticism over its decision to lease two floors of the Velana International Airport (VIA) CIP Terminal to JETEX, a Dubai-based private jet handling company, for a reported USD 1 million per year. This move, reportedly facilitated by Muizzu’s Principal Advisor on Trade and Investment, Mohamed Ali Janah, has raised serious allegations of corruption and mismanagement, particularly due to the involvement of Janah’s daughter, Ayesha Nurain Janah, who serves as Chairperson of the Maldives Airports Company Limited (MACL) Board.
The deal is seen as a stark example of the government’s flawed economic policies, prioritizing political connections over the financial interests of the Maldives.A Mispriced National Asset The CIP Terminal is a key revenue source for MACL, generating USD 5–6 million annually through premium services for high-end tourists, with additional income from jet handling and fuel sales.
Experts estimate its true leasing value could range from USD 11–15 million per year, given its strategic importance and potential for exclusive operations. Leasing it for just USD 1 million annually represents a significant loss of revenue that could fund critical public services like healthcare, education, or climate resilience projects. The stark undervaluation of this asset has fueled accusations that the deal benefits a select few rather than the nation.Conflict of Interest and Corruption Allegations
The involvement of Mohamed Ali Janah and his daughter, Ayesha Nurain Janah, in the leasing process has drawn sharp criticism. As MACL Board Chairperson, Ayesha Nurain Janah holds significant influence over airport decisions, while her father’s role in brokering the JETEX deal raises clear concerns about nepotism and conflict of interest. Social media posts on X have called the arrangement a case of “organized, high-level corruption,” urging the public to oppose the deal. This perception is compounded by the lack of transparency or competitive bidding, leaving many to question why MACL did not retain control of the terminal to maximize revenue.
The CIP Terminal lease is part of a broader pattern of economic missteps by the Muizzu administration. Despite promises of self-reliance and prosperity, the government has struggled to address rising national debt and unemployment. The decision to lease a high-value asset at a low price comes at a time when the Maldives faces financial strain, with some suggesting the government’s reliance on loans for recurrent expenses may be driving such deals.
For instance, posts on X speculate that MACL’s financial pressures, possibly due to contractor payments for the new VIA terminal, could be behind the decision to lease the CIP facility.The administration’s focus on infrastructure projects, such as the new VIA passenger terminal set to open by October 2025, has been touted as a step toward accommodating 7.5 million passengers annually. However, these projects have faced delays and cost overruns, with the new terminal’s completion date shifting multiple times since Muizzu took office in November 2023.
The Muizzu government’s plan to lease the VIA CIP Terminal to JETEX is a troubling example of economic mismanagement and potential corruption. By undervaluing a national asset and allowing conflicts of interest to go unchecked, the administration is failing to prioritize the financial well-being of the Maldives.
