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
Contactos clave
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.
Nuestro impacto
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.
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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.
En momentos de cambio y transformación,lo más importante es cómo reaccionas.
Nuestro papel
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.
Cuando todo está en juego.
FTI Consulting es la empresa líder en el mundo en ayudar a las organizaciones a afrontar el cambio y los procesos de transformación. Liderados por profesionales con amplia experiencia, nuestros expertos responden rápidamente a situaciones dinámicas y complejas, generando un impacto que marca la diferencia.
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Nuestra experiencia y conocimiento en acción
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