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Air Mauritius in Administration as Virus Shutters Business (1)

April 22, 2020, 11:20 AM

Airline “will not be to meet its financial obligations for the foreseeable future” due to Covid-19 pandemic, company says in statement emailed by Mauritius stock exchange.

  • Travel restrictions, closure of borders in all the airline’s markets and cessation of all international and domestic flights “has led to a complete erosion of the company’s revenue base”
  • Grant Thornton appointed administrators, effective at 2pm local time
  • Statement
  • Company’s shares suspended as from market close Wednesday until further notice
  • NOTE: Feb. 13Air Mauritius Swings to EU7.7 Million Profit in Third Quarter
  • NOTE: Government is the airline’s biggest shareholder

(Adds company’s shares suspended in fourth paragraph)

To contact the reporter on this story:
Kamlesh Bhuckory in Port Louis at kbhuckory1@bloomberg.net

To contact the editors responsible for this story:
Gordon Bell at gbell16@bloomberg.net

Hilton Shone, Renee Bonorchis

© 2020 Bloomberg L.P. All rights reserved. Used with permission.