Blackstone Moves to Reacquire Trans Maldivian Airways After Eight Years

Blackstone is close to reacquiring Trans Maldivian Airways for nearly its original selling price, following an eight-year absence. TMA faced bankruptcy and debt restructuring due to the pandemic. Blackstone initially exited the investment in 2017 with significant returns.

Blackstone, a leading private equity firm, is nearing a deal to reacquire Trans Maldivian Airways (TMA) nearly eight years after its initial exit. They had previously sold TMA for $500 million to a consortium led by Bain Capital and Tempus Group. This acquisition comes after a challenging period for TMA, which faced bankruptcy and underwent debt restructuring largely attributed to the pandemic’s impact on travel.

In summary, Blackstone’s potential reacquisition of TMA signifies a strategic move to regain control of a major player in the seaplane charter industry, overcoming prior setbacks driven by external economic pressures. This situation reflects the fragility of the tourism sector, necessitating strategic readjustments in response to market volatility.

Original Source: infra.economictimes.indiatimes.com