Air Mauritius exits restructuring with slimmed-down fleet

Air Mauritius has emerged from restructuring with what it describes as a stable footing after reducing its fleet and securing a $280m government loan. The carrier says the government’s loan will provide long-term stability for the company as international air travel and tourism rebuilds following the Covid-19 crisis. It adds that the loan was “overwhelmingly supported” by Air Mauritius’s creditors, without disclosing details of the financing. Ken Arian, CE of the airline’s parent company Airports Holdings, states: “This 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 filed for voluntary administration in April 2020. At a watershed meeting on 28 September, creditors overwhelmingly voted to exit restructuring, and only a small minority of Class C creditors voted for liquidation, says the Port Louis-based airline.<br/>