By Tony Winterburn • 23 April 2020 • 11:25
OVER the years an ‘A’ list of celebrities have used the airline as their first choice to visit the beautiful island of Mauritius, joining the flight from Barcelona or Paris Charles de Gaulle Airport, also known as Roissy Airport.
According to a recent report, one of the richest countries in Africa, Mauritius’ wealth has been primarily due to having strong economic growth, stable government and its ability to draw wealthy individuals to do business and live there.
Airlines around the world are experiencing an unprecedented drop in passenger level and Air Mauritius was no exception.
In January, the airline had set up a ‘transformation steering committee’ to address the financial implications of the outbreak of the virus and reviewing its business model in response and an action plan was formed.
But the carrier’s board today sent a communication to partners updating them on the situation.
It said: “Unfortunately travel restrictions and the closure of borders in all our markets and cessation of all international and domestic flights in an unprecedented crisis has led to a complete erosion in the company’s revenue base.
“Furthermore, there is uncertainty as to when international air traffic will resume and all indications tend to show that normal activities will not pick up until late 2020.
“In these circumstances, it is expected that the company will not be able to meet its financial obligations in the foreseeable future. The board, therefore, took the decision to place the company under voluntary administration in order to safeguard the interest of the company and that of all its stakeholders.”
Grant Thornton has been appointed as administrator.
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