Male, 27th November 2012
Male, 27th November 2012: In a unilateral and completely irrational move the Government of Maldives [GoM] has today issued a notice to the GMR Male' International Airport Ltd [GMIAL] intending to take over the possession and control of the Ibrahim Nassir International Airport [INIA] under the pretext that the Agreement is void. This unlawful & premature notice on the pretext that the Concession Agreement [CA] is 'void' is completely devoid of any locus standi and is therefore being challenged by the Company before the competent forums. The Company disputes that the CA is 'void'.

The Company would further like to state that it has taken all measures to continue operations at the Ibrahim Nassir International Airport [INIA] thereby ensuring that this vital gateway to Maldives is kept open. The Company understands the importance of tourism to the economy of Maldives and having been entrusted the responsibility of operating & developing the INIA; will discharge its duties to the fullest.

We would also like to inform all that this action by the GoM is in complete disregard of and has been done during the pendency of Arbitration proceedings in the designated Tribunal in Singapore.

We are therefore taking all measures to ensure the safety of our employees and safeguard our assets. We are confident that the stand of the Company will be vindicated in every way.

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