Helping Trans Maldivian Airways Return to the Skies

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.

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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.

在危机与变革中，最重要的是你接下来采取的行动。

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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.

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Helping Trans Maldivian Airways Return to the Skies