Air Mauritius placed under voluntary administration
Like Virgin Australia, Air Mauritius, too, has been placed under voluntary administration. The decision has been taken by the Board after taking cognizance of the latest financials of the company at a during the COVID-19 crisis that has led to the sealing of global border and air restrictions.
Back in January, the Board formed a 'Transformation Steering Committee' with a motive to address the financial difficulties of the company and to review the business model for ensuring a sustainable future. However, travel restrictions and closure of borders in all markets due to COVID-19, the company's revenue base has been eroded.
Thus, the Board has come to the conclusion that the company will not be able to meet its financial obligations in the foreseeable future, and therefore decided to place it under voluntary administration to "safeguard the interest of the company, and all of its stakeholders."
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