Carlyle takes over Trans Maldivian Airways
Posted on: 7/3/2021, 2:24:33 AM
Carlyle, King Street Capital Management (King Street), and Davidson Kempner Capital Management LP have completed a reorganization of Trans Maldivian Airways (TMA) (Davidson Kempner) With a fleet of 56 seaplanes, TMA is the world's largest seaplane operator, delivering tourists from Male International Airport to adjacent islands. As it develops its essential role in promoting tourism and sustaining jobs in the Maldives, the company will focus on improving its world-class seaplane operations.
TMA is a well-run company with a seasoned management team and distinct competitive advantages. We are glad to give the company the strategic cash and skills it needs to resume expansion. We expect travel to recover to pre-pandemic levels in the Maldives, which remains one of the world's most appealing vacation locations, as vaccines continue to be rolled out globally.
Christian Schmitz, Managing Director, Carlyle Global Credit.
This acquisition heralds the start of a new era for TMA. As we ramp up operations and continue to provide the world-class service our clients have come to expect, we look forward to the assistance of our new owners. While we do so, the health and safety of our customers and staff is a top priority for both management and our new shareholders, and we will continue to follow our industry-leading practices to safeguard the safety of everyone involved in TMA's operations.
A.U.M. Fawzy, CEO of TMA,
Our extensive experience dealing with aviation firms qualifies us to collaborate with our Carlyle and Davidson Kempner partners in leading the company to a robust recovery and next stage of expansion.
King Street's Managing Director, Zachary Lewis.
The senior lenders and FTI Consulting, who functioned as Receivers for TMA's holding company, hired Clifford Chance as their legal counsel.