National Airline Maldivian Suffered A Net Loss Of MVR 9 Million In Q3 2021

Maldives Privatization and Corporatization Board has released a summary of the third quarterly analysis of State-Owned Enterprises (SOEs) in 2021.

National airline Maldivian achieved a significant improvement in revenue and a significant reduce in net loss in the third quarter of 2021 in comparison to the second quarter of 2021.

Maldivian generated a gross profit of MVR 107 million in the Q3 of 2021 while the company generated only MVR 3.8 million in gross profit in Q2.

The airline however reported a net loss of MVR 9.6 million in the third quarter of 2021 but the decline in net loss in Q3 2021 compared to Q3 2020 and Q2 2021 is 91% and 90% respectively.

Maldives Privatization and Corporatization Board further said that the liquidity ratios of the company has to be further improved as current liabilities exceed the current assets.

Liquidity ratio shows that the company is not capable to meet its short-term obligations with current assets.