Coronavirus: Air Mauritius placed under voluntary administration
Port-Louis, Mauritius (PANA) – The Mauritian national aviation company, Air Mauritius, has been placed under voluntary administration, “because of recent developments worldwide relating to the COVID-19 crisis”, according to the Company Secretary, Roodesh Muttylall.
In a communique issued on Wednesday evening, Air Mauritius said that travel restrictions and the closure of borders in all its markets and cessation of all international and domestic flights in an unprecedented crisis, has led to a complete erosion of 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.”
The company said that in these circumstances, it is expected the company will not be able to meet its financial obligations in the foreseeable future.
“The board, therefore, at its meeting of Wednesday, 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,” it said.
-0- PANA NA/MA 23April2020
