Air Mauritius secures funding to cater to growing demand
The government of the Republic of Mauritius injects Rs 12 billion into Air Mauritius to provide long term stability
To cater to the travellers from all over the world who are planning to visit the Indian Ocean paradise island of Mauritius for work and pleasure, Air Mauritius has exited voluntary administration and is increasing flight capacity. The government of the Republic of Mauritius is injecting Rs 12 billion (US$ 280 million) into Air Mauritius via a loan to provide long-term stability for the company as international air travel and tourism rebuilds following the Covid-19 pandemic.
Air Mauritius is a strategic national asset central to the government’s tourism and investment strategy and provides Mauritius with its passenger and cargo connectivity to meet market demands. The new loan arrangement was overwhelmingly supported by Air Mauritius’ creditors. “This new financial arrangement provides Air Mauritius the stability to rebuild and play a central role in the government’s economic development and tourism plans. It is a vote of confidence in our staff and provides them and our tourism industry with reassurance for the future. Air Mauritius is an iconic global brand and will continue to provide short and long-haul passenger and cargo connectivity to some of our most important global markets,” said Ken Arian, CEO, Airports Holdings Limited.
As part of the new structure, the networked fleet has been consolidated from 15 aircraft to nine aircraft which includes four A350-900 and two A330-900neo wide-bodied fleets. The remaining three aircraft are ATR72-500 to service domestic and regional routes.
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