30 percent of AIA shares sold to Kasa holdings

Thirty percent of the shares of Addu International Airports Company have been sold to Kasa Holdings yesterday.

Shahid Ali, Managing Director of State Trading Organisation informed Miadhu daily that the permit to sign the agreement was granted last night at 7:30 and the agreement was signed as soon as the permit was received.

Shahid said that the pre-bid meeting of the three contractors who have submitted their biddings will be held today and their proposals will be presented on 28 of this month. He added that the qualifying bidder will be determined within two weeks after researching their proposals and the development of the airport will be initiated within January as planned earlier.

The agreement signing ceremony to sell 30 percent of the shares of the company to Kasa Holdings was held at the head office of STO.

STO Managing Director Shahid signed on behalf of AIA while Champa Mohamed Moosa (Uchu) signed on behalf of Kasa Holdings.

Shahid said that the Gan Airport will be developed with a Seaplane bay. He said that it was a pleasure to have Kasa Holdings as a partner in the development of the airport given the company is owned by the leading seaplane operator and resort owner Chama Hussain Afeef. He added that he believes that the airport will receive the professional expertise of Hussain Afeef in operating seaplanes and introducing more flights to the airport.

Analysts note that Champa Hussain Afeef is the biggest tax payer and is a leading figure in the tourism industry of the Maldives. He has played a major practical role in the development of Herethere resort of Addu.