Maldives Airports Company Limited (MACL) has signed a new agreement with the State Trading Organization (STO) for the supply of aviation fuel and gas oil.
Under the agreement, STO will supply 1.5 million barrels of jet fuel and 88,000 barrels of diesel to MACL over the year.
The agreement was signed by MACL’s Managing Director Mahjub Shujau with STO’s newly appointed Managing Director, Abdullah Saeed.
The new agreement follows due to the change in international market prices. STO will now be charging higher prices although the details were not disclosed by either company.
Change in aviation jet fuel prices will likely impact airline ticketing prices. Over the recent months National carrier Maldivian was met with heavy criticism due to the raise in domestic ticket prices however the airline has insisted the raise was amid changes to jet fuel price and airport handling fees.