The government has decided to form a joint venture with the Maldives Airports Company Limited (MACL) to modernize the "Maldivian Seaplane" business operated by Island Aviation Services Limited (IASL).

After discussing the paper submitted by the Finance Ministry, President Dr. Mohamed Muizzu decided, upon the recommendation of the Cabinet, to establish a strategic partnership with MACL to further expand the Maldivian seaplane business in a sustainable manner.

The government decided to complete the formation of a joint venture with MACL, with full control to IASL, by April 30 2025. Matters related to forming the company will be submitted to the Economic Council.

Island Aviation launched seaplane services in 2014. It was a decision taken by the government to increase the company's revenue.

Maldivian's seaplane fleet consists of 11 DHC-6 twin-otter aircraft, including one which was previously introduced as an air ambulance.