Subsequently, majority shares were purchased by SPA Aviation of Sri Lanka.

The Airline was chartered by the media and press accompanying the Turkish Prime Minister when he visited the Maldives for surveying the damage done by the tsunami.

The airline discontinued all flights in May 2005 and finally ceased operations in August 2005 after disagreement between SPA Aviation and A. Faiz on financial and administrative control.

SPA Aviation had plans for reviving the Airline but could not do so as their source of funding did not materialize, till press time early 2006.

The aircraft still rests in the airline's livery on a grassy area near the Gan International Airport.