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Local carrier TMA proposes to purchase Sri Lankan Airlines

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A Transmaldivian Airways seaplane.

A Transmaldivian Airways seaplane.

Private airline Trans Maldivian Airways (TMA) in collaboration with a Singapore firm has proposed to purchase major shares of Sri Lanka’s national airline with an investment of USD 5 billion (MVR 77 billion).

The Sunday Times of Sri Lanka cited reliable sources that the joint venture Super Group Partners Company Limited founded by TMA and Singapore firm SATS received the highest points from the ten bidders that proposed to buy shares of Sri Lankan Airlines. The Super Group Partners have offered to buy 80 percent of the airline’s stakes and received total 68 points.

According to the Sunday Times, Super Group proposed to make an investment of USD 5 billion in Sri Lanka, to be paid in instalments within a decade. While USD 1 billion of the investment will cover Sri Lankan Airlines’ debts, the remaining are to be invested in aviation and related projects.

Mihaaru understands that TMA’s parental company, the Blackstone Group of the United States, is making the investment to purchase the airline’s shares. The largest investment firm in the world, Blackstone had purchased major stakes of Maldivian Air Taxi and TMA in February 2013 and merged the two to form TMA, thus making it the largest seaplane operator in the world.

In the face of debilitating debts and financial troubles, Sri Lankan Airlines had opened the bid to privatise the company until September 23 this year. Under its privatisation efforts, the company has also halted operations of its budget airline Mihin Lanka and put off purchasing new aircrafts.

The Sri Lankan government has tasked teams from state-run National Savings Bank (NSB) and the international audit firm KPMG to evaluate the bid proposals for the airlines. The teams have now forwarded their report to Sri Lanka’s Cabinet Committee on Economic Management for a final decision on the bid winner.

While Super Group has proposed to purchase 80 percent of Sri Lankan Airlines, the International Civil Aviation Organisation (ICAO)’s standards stipulate that a foreign company cannot hold over 45 percent shares of a country’s national airline. Thus, should Super Group win the bid, Sri Lankan Airlines will lose its status as the national carrier of Sri Lanka.


TMA commences domestic flights within Maldives south

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Two TMA seaplanes docked at Ibrahim Nasir International Airport (INIA).

Two TMA seaplanes docked at Ibrahim Nasir International Airport (INIA).

Local airline Trans Maldivian Airways (TMA) has commenced operations between Gan International Airport in Addu atoll and the resorts in Gaafu Alif and Gaafu Dhaal atolls.

According to the largest seaplane operator in the Maldives, TMA commenced flights last Saturday with a seaplane accommodating 15 passengers. The boat’s first flight was from Amari Havodda resort in Gaafu Dhaal to Gan.

“For now, one plane is enough. In addition to carrying tourists, we also offer photo flights and excursions,” said an official of TMA.

The recent development and expansion of Gan International Airport has seen the establishment of a seaplane base at the airport.

While TMA has commenced operations between Gan and Gaafu Ali and Gaafu Dhaal atolls, Sri Lanka’s national carrier Sri Lankan Airlines also commenced scheduled flights from Lankan Colombo to Gan last week.

“International flights to Gan is something we’ve really wanted. In the future, that will be the route used by tourists headed for Gan and Huvadhoo (Gaafu Alif and Gaafu Dhaal),” said the official.

China firm looks to purchase stake in TMA

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A Transmaldivian Airways seaplane.

A Transmaldivian Airways seaplane.

A Chinese firm has proposed to purchase stake in Transmaldivian Airways, the main seaplane operator in the Maldives.

According to China Daily, the firm is a manufacturer of generators and engines, Zongshen Group, which is looking to buy TMA stakes to become the top seaplane operator in the world.

The news website cited Zongshen Group’s Chairman Zuo Zongshen that the company, which is based in Chongqing in the southwest of China, has proposed “billions of yuan” to purchase TMA shares. The site added that Zongshen Group is also in discussion to buy stakes in Kenmore Air, a seaplane operator in Seattle, United States.

Mihaaru was not able to reach Zongshen Group for comment regarding the percentage of stake the group proposes to buy.

TMA is the largest seaplane operator in the world with a fleet of 44 that operate over 100,000 flights annually. The company’s investors are Blackstone Group of the United States and local tycoon Champa Hussain Afeef’s Kasa Holdings Pvt Ltd.

TMA adds another seaplane to fleet

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Transmaldivian Airways (TMA)'s newest seaplane at Velana International Airport. PHOTO/TMA

Transmaldivian Airways (TMA)’s newest seaplane at Velana International Airport. PHOTO/TMA

Local seaplane operator Transmaldivian Airways (TMA) flew in its newest seaplane acquisition to the Maldives on Monday.

The largest seaplane operator in the world, TMA’s latest aircraft was procured from Canada, bringing up its fleet to total 47, according to an official of TMA.

This is the second seaplane acquired by TMA this year. The company announced plans to bring in more throughout 2017 to meet increasing demand as more resorts are being unveiled across the archipelago while the number of tourist arrivals is also on the incline.

TMA operated 120,000 flights last year, carrying around 1 million passengers including 80,000 locals.

TMA expands fleet with new seaplane

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TMA's latest seaplane pictured before its flight to the Maldives.

TMA’s latest seaplane pictured before its flight to the Maldives.

Local seaplane operator Trans Maldivian Airways (TMA) has added another seaplane to its fleet, bringing the total up to 49.

The largest seaplane operator in the world, TMA declared that the latest aircraft, which was flown into the Maldives last Friday, will be in operation very soon.

The newest acquisition is the fourth seaplane to be added to TMA’s fleet this year. The company has been expanding its fleet throughout 2017 to meet increasing demand as more resorts are being unveiled across the archipelago while the number of tourist arrivals is also on the raise.

TMA operated 120,000 flights last year, carrying over one million passengers including 80,000 locals.





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