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Air Mauritius creditors vote for Rs12 billion deal, exit of administration

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Mauritian taxpayers will finally be injecting Rs12 billion (US$280million) into Air Mauritius via a loan to provide long term stability for the company. The new loan arrangement and the consequent exit from voluntary administration were supported by Air Mauritius’ creditors during the Watershed meeting held on Wednesday.

The airline will now be managed by a new parent company, a mammoth entity that would also encompass Mauritius Duty Free Paradise, Airports of Mauritius Ltd, amongst others.

In a statement issued after the Watershed meeting, Ken Arian, CEO of Airports Holdings Limited said the new financial arrangement“provides Air Mauritius with 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.

Passenger and cargo flights will operate between Mauritius and Paris, London, Johannesburg, Mumbai, Antananarivo and Reunion with connecting services available globally. Additional capacity and international routes will be added to meet demand.

Air Mauritius expects Hong Kong, Kuala Lumpur and Perth to be introduced at a later date. Domestic services to and from Rodrigues will resume in November 2021.

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