Press Release in Connection with the Expression of Interest for Helicopter Operations Issued by the Ministry of Transport and Civil Aviation

We refer to the Expression of Interest ("EOI") for helicopter operations in the Maldives ("Project") announced by the Ministry of Transport and Civil Aviation (the "Ministry") on August 5, 2024, under the reference number: (IUL)-ADM/472/2024/69.

This initiative was launched to establish a helicopter-based air ambulance service for rapid medical responses, utilizing helicopters for search and rescue operations across the country, and introducing commercial passenger transportation to promote tourism across the Maldives. The Ministry aims to select an operator capable of demonstrating efficient helicopter operations in the Maldives, with proven experience in addressing challenges specific to island environments such as the Maldives.

Please note that as of the date of this press release, the Ministry has only requested parties to submit their EOI applications by August 19, 2024. The Ministry has not issued any Request for Proposals (RFP) to any party before this date. The Ministry further confirms that no bid submissions have been received from any party to date.

The Ministry firmly denies recent speculations in the media, suggesting that the Project has been awarded to 'Regional Airports Company Limited'. We affirm that the Project has not been awarded to any party, as the RFP process has not yet commenced.