The carrier's Board of Directors made the decision for the administration on April 22, after the carrier suspended most flights. Virgin Australia took the same steps on Monday following the Australian Governments rejection of financial support. We use cookies to enhance your user experience. Struggling Air Mauritius has entered voluntary administration after the board resolved that with coronavirus grounding it would not be able to meet its financial obligations in the foreseeable future. Though the eventual collapse of the airline can easily be blamed on the COVID-19 crisis, as it had been stated, Air Mauritius has been facing financial troubles way before the coronavirus outbreak. Gros choc dans le monde de l’aviation, Air Mauritius s’est mise sous l’administration volontaire depuis 14 h 00 le 22 avril 2020, les administrateurs de la compagnie sont Mr A. Sattar Hajee Abdoula, FCA et Mr. Arvindsingh K. Gokhool, FCCA de la firme Grant Thornton. For the past 20 years or so, no government has been able to strike the right balance in the company with its role as shareholder. I am interested in everything related to art, photography and love to discover various cultures around the world. The airline was struggling before this all started, and in January 2020, management had set up a Transformation Steering Committee, intended to address the financial difficulties of the business model. “At the outset, it is important to highlight that Air Mauritius has not filed for bankruptcy. Amidst the Covid-19 crisis, the Mauritian national carrier wishes to give itself the necessary breathing space andset the conducive conditions for restructuring opportunities in order to stay afloat. In January 2020, Air Mauritius management had set up a Transformation Steering Committee to address the financial difficulties of the business model. Various experts from Mauritius have come forward to offer possible solutions while Air Mauritius is in administration. Another airline reached it’s demise today, with Air Mauritius placing itself in voluntary administration amidst the Coronavirus outbreak.Distributing the news via social media, the airline announced it would place itself into administration due to not being able to meet both current and future financial obligations due to Covid-19 disruptions to the international travel and aviation community. NEW DELHI: Air Mauritius, in which Air India has a small stake, has gone under voluntary administration. Even if frequent changes have been seen at top-level management in recent years, the company’s board has remained intact, and the government has remained the majority shareholder (42.5%). While the government is helping hundreds of companies on the island to avoid a rise in unemployment, its inaction towards Air Mauritius will lead to inevitable job losses. Air Mauritius latest to enter voluntary administration 22 April 2020 Flag-carrier Air Mauritius has entered voluntary administration having been overwhelmed by … Even at the beginning of 2019, Air Mauritius already expected the 4th quarter of the year to be challenging. Some argue that Air Mauritius should have followed Air Seychelles’ move to partner with Etihad. Related posts. The future of the airline is still not known. Air Mauritius, the flag carrier of the island nation, has today entered voluntary administration due to unable to meet its financial obligations. STATEMENT FROM ADMINISTRATORS (Paille en Queue Court- Port- Louis- Mauritius) Air Mauritius is currently under voluntary administration. I believe curiosity keeps the mind forever young. Air Mauritius has been placed in voluntary administration In a statement, the board said this had led to a "complete erosion" of the airline’s revenue base, with little certainty when international air traffic operations will resume. By continuing to use airmauritius.com, you are agreeing to our Privacy Policy and Terms of Use. Experts were asking for a business model to get the company back on track; nothing much was done. Air Mauritius has been very badly managed since the early 2000s. Another airline reached it’s demise today, with Air Mauritius placing itself in voluntary administration amidst the Coronavirus outbreak.Distributing the news via social media, the airline announced it would place itself into administration due to not being able to meet both current and future financial obligations due to Covid-19 disruptions to the international travel and aviation community. Journalist @ Simple Flying. Air Mauritius goes into administration 23 Apr 2020 by Mark Caswell Air Mauritius has entered into voluntary adminstration, following “a complete erosion of the Company’s revenue base” as a … For this reason, the Board of the 52 years old airline has made a decision to put Air Mauritius under voluntary administration “to safeguard the interest of the Company”. The news of Air Mauritius being placed into administration dropped like a bomb two days ago. The Board of Directors of Air Mauritius has today made the decision to place the airline into voluntary administration. The airline has grounded all its flights through May 15 due to the Covid-19 pandemic. It was clear that the company had trouble making money. Air Mauritius' board stated that the company will not be able to meet its financial obligations in the foreseeable future, and thus, is placing the airline under voluntary administration “The national airline is a key player of the Mauritian economy and is part and parcel of its history. As of today, Mauritian airline Air Mauritius has been placed into administration. Air Mauritius declares insolvency, enters administration After halting all its domestic and international flights due to the coronavirus crisis, Air Mauritius is expecting not to meet its financial obligations in the foreseeable future. However, customers need to know that resumption of operations is subject to favourable evolution of the covid-19 situation and the lifting of travel restrictions by the authorities. A ir Mauritius becames the latest victim of Covid-19 with the company’s board of directors announcing on Wednesday that the carrier would be put into voluntary administration.. Air Mauritius expects not to be able to meet its financial obligations “in the foreseeable future”. Sattar Hajee Abdoula, FCA and Arvindsingh K. Gokhool, FCCA have been appointed as voluntary administrators. Which he says will be done cheaply and not the best solution. The administrators are currently working with the Management to ensure that Air Mauritius continues to operate and plan the phased resumption of operations. The uncertainty about when international traffic will resume only resulted in voluntary administration of Air Mauritius so that the company can buy some time to restructure. Air Mauritius Coronavirus voluntary administration. The airline’s board came to a decision following “ a complete erosion of the company’s revenue base.” Air Mauritius has been placed into voluntary administration. Which are: Selling the company. This partnership has proved fruitful for the airline and did not stop Air Seychelles from taking delivery of its new Airbus A320neo despite the current crisis. Oops, this content can't be loadedbecause you're having connectivity problems, Stay always informed and up to date with our breaking news alerts, Air Mauritius being placed into administration, Air Seychelles from taking delivery of its new Airbus A320neo, Airbus Hit As New US Tariffs Come Into Force, Singapore Airlines Asks Crew To Wear Tracking Devices On Layovers, Indonesia Grants Travel Waiver For Sriwijaya Crash Investigators, SAS CEO Rickard Gustafson To Step Down After 10 Years, Finnair Introduces Intra-Europe One-Way Ticket Fares. Struggling Air Mauritius has been placed under voluntary administration by the airlines board “in order to safeguard the interest of the company and that of all its stakeholders.” Already in January 2020, the board set up a “Transformation Steering Committee” to address the airline’s financial difficulties. Air Mauritius had already embarked on a transformation programme in January this year under which it was reviewing its business model in a bid to secure sustainability. He proposed the following solutions: Air Mauritius has some dark times ahead, but if proper strategies are implemented, Mauritius should be able to keep its national airline alive. As the main reason behind this process, the airline cites travel restrictions imposed by many countries on its citizens and visitors thereby prohibiting essentially all … Contact Us, 30 June 2020 - Extension of deadline to release Audited Financial Results, Air Ticket Refund Communique - 22 May 2020, Communique 07 May 2020 - No discussions ongoing regarding a partnership with another airline, 4th May 2020 - Air Mauritius- Creditors trust current administrators to rescue Air Mauritius, Resolutions passed at the First Creditors’ Meeting of Air Mauritius Ltd, PRESS RELEASE APRIL 27, 2020 - First meeting of creditors, Communique 25 April 2020 - Notice of appointments - Air Mauritius Limited, Communique 25 April 2020 - Notice of appointments - Airmate Limited. Our objectives as Administrators are to safeguard the interests of the company and more importantly, reengineer its activities so that it can take off again once this crisis is over”, says Sattar Hajee Abdoula. 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