Employees of Trans Maldivian Airways (TMA) held a meeting at Waters Edge Rooftop in Hulhumale’ last night to discuss ongoing frustrations over the recent salary revisions implemented by the newly formed Foreign Currency Act.

The tensions began with the birth of the Foreign Currency Act earlier this year, in order to increase foreign currency through official Maldivian banking channels. The law mandates that companies, especially those belonging to the tourism sector, must convert a portion of their foreign currency earnings through the Maldives Monetary Authority (MMA). 

The meetings were sparked by TMA’s decision to temporarily revise its salary structure to an 80% US Dollar and 20% MVR split. This arrangement will be active for two months. 

Employees are mainly concerned with what may follow when the arrangement ends. They fear that the company will lean more towards MVR-based salary going forward. Such a shift would significantly impact employees who have to deal with loan payments, family remittances and other financial obligations.

The strike will take place on July 26th, Independence Day, the same day the Indian Prime Minister is due to visit to strengthen diplomatic ties with the Maldives. This means that pilots will not fly any aircraft and seaplanes will remain grounded. Potential consequences of the strike will follow, such as flights scheduled on that day will be forcibly cancelled. The event, if taken place, will have a serious and profound impact on the Maldives’ tourism industry.