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Airport Holdings acquired 9.43 million shares in Air Mauritius from The State Investment Corporation Limited and Rogers and Company Limited on 13-Oct-2021, which gave Airport Holdings effective control of Air Mauritius.
The British organization Skytrax published recently its ranking of the best airlines in the world. It reports on passengers’ evaluation of the services offered. Air Mauritius fell seven places compared to 2023 and is now in the 85th position. In Africa, the national carrier occupies the sixth position. Raj Ramlugun, an independent shareholder of MK, said the company must question the reasons for the decline observed since the health crisis.
Air Mauritius is the leading scheduled carrier operating in the Indian Ocean, serving a network covering Asia, Africa, Europe, and Australia. The carrier is majority-owned by Air Mauritius Holdings Ltd, which in turn is wholly owned by the Mauritian government.
Established in 1967, Air Mauritius is the national airline of Mauritius and is based at Sir Seewoosagur Ramgoolam International Airport in the capital Port Louis. Air Mauritius is the leading scheduled carrier operating in the Indian Ocean, serving a network covering Asia, Africa, Europe and Australia. The carrier is majority-owned by Air Mauritius Holdings Ltd, which in turn is wholly-owned by the Mauritian government.
Air Mauritius announced its board “decided to place the Company under voluntary administration” from 22-Apr-2020, due to the impact of the coronavirus pandemic.
On 29-Sep-2021, Air Mauritius announced it exited voluntary administration and secured a government loan to support increasing capacity to meet demand.
Airport Holdings acquired 9.43 million shares in Air Mauritius from The State Investment Corporation Limited and Rogers and Company Limited on 13-Oct-2021, which gave Airport Holdings effective control of Air Mauritius.
In February 2022, Airport Holdings Limited (AHL) announced the closing of its mandatory offer to acquire the remaining shares in Air Mauritius. AHL received valid acceptances for 121.6 million voting shares of Air Mauritius, representing a total consideration of MUR705.3 million (USD16.1 million).
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AHL did not have any direct shareholding in Air Mauritius before the mandatory offer, while those acting in concert controlled 71.45% of Air Mauritius; As a result of the mandatory offer, AHL holds 94.04% of Air Mauritius’ total outstanding voting shares and thereby satisfies the takeover threshold conditions. AHL is now entitled to acquire the shares of the dissenting shareholders of Air Mauritius; AHL intends to proceed with the compulsory acquisition of the shares of all dissenting shareholders of Air Mauritius.
