Slide number 1
FTI Consulting facilitated the restructuring of TMA’s more than USD300 million existing debt within 10 months, resulting in a new lender consortium's taking ownership of the seaplane operator.
Debt Restructured
Helping Trans Maldivian Airways Return to the Skies
Debt Restructured
Helping Trans Maldivian Airways Return to the Skies
Ansprechpartner
How do you chart a new trajectory when turbulence strikes?
The world’s largest seaplane operator, Trans Maldivian Airways (“TMA”), grounded its fleet in early 2020 after a pandemic travel ban halted the arrival of foreign tourists in the Maldives. Unable to meet its debt obligations, TMA’s lender group engaged FTI Consulting to restructure its debt, which ultimately resulted in TMA's major lenders' becoming the business' owners.
Das Ergebnis
Following the FTI Consulting-led restructure and the travel ban's being lifted in July 2020, TMA resumed operations with a strong balance sheet and has gone from strength to strength.
Slide for Two people reviewing and signing a document on a desk, one holding a pen and the other pointing, with an envelope and a notebook nearby.
We implemented an M&A sales process of the underlying business, resulting in a group of lenders, including the Carlyle Group, taking majority ownership of TMA.
In Krisen und Transformationenzählt vor allem der nächste Schritt.
Unser Beitrag
Protecting the interests of senior lenders and ensuring the survival of the underlying company
With the closure of the Maldives’ borders and the suspension of tourist operations due to COVID-19, TMA found itself unable to service its senior debt facilities. TMA and its private equity sponsor requested a standstill on its debt obligations. In September 2020, after the expiry of the initial standstill period, the lender group appointed representatives from FTI Consulting as receivers to safeguard the lender group’s interest in TMA.
FTI Consulting served as receiver and helped to facilitate a restructuring of the company’s existing capital structure and/or to execute a sale of the business as a going concern.
The team assumed Board roles to stabilise the business and ensure a smooth continuation of operations as travel resumed.
Experts assessed the financial position and performance of the business, raised debtor-in-possession financing to support the ongoing operations and working capital needs, reviewed strategic opportunities to increase revenue streams and minimised costs.
Wenn alles auf dem Spiel steht.
FTI Consulting ist die weltweit führende Beratung für Unternehmen in Krisen und Transformationen. Unsere Teams werden von erfahrenen Expertinnen und Experten geleitet. Ihre Stärke ist schnelles Handeln in dynamischen und komplexen Situationen – wenn es darauf ankommt, machen sie den Unterschied.
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